Chase Bank Glitch TikTok: A recent viral trend on TikTok has caused confusion, with some people believing they could use a “money hack” to get free cash from Chase Bank. But Chase quickly stepped in to warn everyone that what people are calling a “glitch” is actually fraud.
What Was the Chase Bank Glitch on TikTok?
Over Labor Day weekend, several TikTok videos surfaced, claiming to show how to exploit a “glitch” in Chase Bank’s system. The supposed trick involved writing a check to yourself, depositing it, and immediately withdrawing the money before the check had fully cleared. Some users believed they had found a way to get free money without doing any real work.
In these videos, people claimed that Chase’s system allowed them to take out cash before the bank had time to process the check properly. This made it look like the money was there, even though it wasn’t. Many users were excited by the idea of getting easy cash and shared the hack with their followers.
Why This Is Actually Fraud
Although this may have sounded like a clever trick, it wasn’t a glitch or a loophole in Chase’s system. It was simply fraud, known as check kiting. This illegal practice has been around for as long as checks have existed. In check kiting, someone writes a check for an amount they don’t have, deposits it, and withdraws the money before the bank realizes the check is fake or insufficiently funded.
Chase Bank was quick to respond. A spokesperson for the bank told Fortune: “Regardless of what you see online, depositing a fraudulent check and withdrawing the funds from your account is fraud, plain and simple.”
Legal Consequences of Check Kiting
What many TikTok users may not have realized is that check kiting is a serious crime. It can be prosecuted under federal law, with penalties that include up to 30 years in prison and fines of up to $1 million. Even if the crime is prosecuted by the state instead of federal authorities, the punishment can still be harsh.
In other words, anyone who took part in this viral trend could be facing serious legal trouble. Chase has already fixed the problem and is likely tracking down those who tried to exploit the system. Users who participated in the trend might soon find themselves with large negative balances in their accounts, or worse, facing criminal charges.
Why People Fell for the Glitch
One reason this so-called money hack gained so much attention on TikTok is because it played on people’s desire for quick and easy cash. Many users were excited by the idea of “free money”, and the viral nature of TikTok helped spread the videos quickly.
But as the old saying goes, if something sounds too good to be true, it probably is. In this case, the idea of writing yourself a check and getting free cash without consequences was simply unrealistic.
Chase Bank’s Response
Chase acted fast to stop the fraudulent activity and remind customers that what they were doing was illegal. The bank issued a statement clarifying that there was no glitch in the system and that anyone who tried to withdraw funds from fake checks was committing fraud.
The bank has likely flagged the accounts of those involved and may be taking steps to recover the money. This could result in negative balances or holds on accounts, meaning that people will not only lose the money they withdrew, but could also owe the bank large amounts of money.
The Dangers of Following Financial Advice on TikTok
This incident is a reminder that not everything you see on social media is reliable, especially when it comes to financial advice. TikTok, like many social media platforms, is filled with questionable advice, and users need to be cautious before following any trends, especially when they involve money.
If something seems too easy or too good to be true, it’s important to do your own research and make sure you’re not breaking the law. Many of the people who participated in the Chase Bank glitch likely didn’t realize how serious the consequences could be until it was too late.
Conclusion
The Chase Bank glitch that went viral on TikTok wasn’t a real glitch, but a case of check fraud. While it may have seemed like a quick way to get free money, those who participated could face severe legal consequences. Chase has already fixed the issue and is likely tracking down anyone who took part in the scheme.
This trend serves as a warning to be skeptical of financial hacks on social media. Not only can these hacks be illegal, but they can also lead to serious consequences, including jail time, fines, and negative balances in your bank account. Always do your research and be cautious when following trends, especially when money is involved.
