The “Chase unlimited money glitch” on TikTok is real, but it’s essentially a form of check fraud. The trend involves writing a check to yourself, depositing it via mobile banking, and then withdrawing the money from an ATM before the check clears. This has led to many people finding their accounts locked with large negative balances.
Chase Bank has addressed the issue, stating that depositing a fraudulent check and withdrawing funds before it clears is illegal. Many who attempted this “glitch” are now facing severe financial consequences.
A viral TikTok called “Chase unlimited money glitch” has people lined up at Chase banks this weekend.
Basically, you write yourself a check & pull the money out of an ATM before it clears. People are seeing their accounts locked with -$50k balances 🤪https://t.co/QxYrtV1YHg
— Financelot (@FinanceLancelot) September 1, 2024
Sources:
https://www.msn.com/en-us/money/companies/chase-infinite-money-glitch-leaves-tiktokers-in-huge-debt/ar-AA1pPKmV
https://www.scotsman.com/news/crime/what-is-chase-bank-glitch-on-tiktok-4764614
https://www.newsweek.com/chase-bank-glitch-viral-1947227