Chase Bank has exposed a viral TikTok trend that promised “free cash” through an alleged “money glitch” as nothing more than check fraud. The trend, which involved users writing large checks to themselves and withdrawing the funds before the checks cleared, gained significant popularity on social media. However, the bank has confirmed that this practice is illegal and warned participants of the potential legal consequences.
The trend quickly spread across TikTok, with users posting videos of themselves withdrawing large sums of money, believing they had discovered a loophole in the banking system. These individuals took advantage of a grace period offered by Chase Bank, which temporarily makes funds from deposited checks available before they are fully processed. Participants in the trend wrote checks for tens of thousands of dollars to themselves and then attempted to withdraw part of the money immediately.
In response to the growing trend, Chase Bank issued a statement to clarify the situation. “Depositing a fraudulent check and withdrawing the funds from your account is fraud, plain and simple,” said a Chase spokesperson. The bank has since taken steps to address the issue and has warned that those involved in the trend could face serious legal repercussions.
Legal experts caution that individuals caught participating in check fraud could face significant fines and jail time. Misdemeanor charges can lead to up to one year in jail, while felony charges can result in more severe penalties, including multiple years of imprisonment.
This incident highlights the dangers of following viral trends without understanding the potential legal and financial consequences.
