One man is on the hunt for a new bank after Chase closed his accounts for having “too much money.”
In a viral TikTok, a car dealership owner claims Chase Bank “kicked him out” for making too many cash deposits. Islam Sbeih (@biglam55) says he’s had personal and business accounts with Chase for 11 years. He received a letter in the mail notifying him that all his accounts would be closed for excessive cash deposits.
“So I guess what they fear is money laundering, which is crazy because I’m a car dealership,” Sbeih says.
He explains that sometimes customers pay up front in cash for the cars, which means he often makes deposits over $10,000. The dealership owner says he tried to explain this to Chase, but they refused to reinstate his accounts.
“Now I gotta find a new bank,” Sbeih concludes.
Can your bank close your account without your consent?
Yes, a bank can close your accounts for any reason and without notifying you, per CNBC. Any deposit over $10,000 requires the bank to notify the government by filing out a Suspicious Activity Report. This is to prevent any illegal activities, like money laundering, as Sbeih said.
One commenter speculated Chase probably thought filling those reports was too much work.
“Fraud Analyst here….20 yrs on banking,” they wrote. “By Fed Law, everytime you deposit cash in excess of 10K, they are required to file a SAR: Suspicious Activity Report. They probably decided your access was too much work.”
According to U.S. News, you can’t trick the bank by breaking it up into smaller deposits, either. They call this “structuring,” and the bank will be onto you.
Sbeih’s clip earned over 217,000 views, with almost 2,000 comments advising him on what to do.
Viewers share their advice
“Credit Unions!!!!! Chase, BOFA, & Wells Fargo are trash banks,” one user wrote.
Another wrote, “TD bank is really good with cash despots and money laundering as well. Never had an issue.”
“Honestly bro, look for a local credit union. That’s your best bet,” one echoed.
But are they better?
Are credit unions better than banks?
Credit unions are not for-profit, while banks are. They both have their pros and cons. For instance, banks may not have the same customer service as credit unions, but their branches and ATMs are more accessible, per U.S. News. You also need to be a member of the credit union, whereas banks do not require a membership.
However, several people prefer credit unions as they have lower loan rates, lower fees, and higher savings rates.
“Credit unions are considered safer than banks because they tend to take fewer risks and adhere to conservative investment principles,” the site reported.
Which one is better, depends on what type of service you’re looking for. “If you want higher deposit rates and don’t need access to branches across the country, for example, you might prefer a credit union,” NerdWallet states. “If you want access to in-person services and don’t mind lower interest rates, a bank might be more suitable.”
‘Why do people fear cash now?’
In a follow-up clip, Sbeih demanded to know why the $10,000 rule was still in place in 2025.
“Money has changed,” he says. “$10,000 today isn’t what it was 20 years ago.”
He mentions how this “barrier,” has been set everywhere, including when you travel out of the country.
@biglam55 Getting kicked out for too much cash is crazy ! #chase #bank #cardealership #biglammotors #sales #cash ♬ original sound – Islam Sbeih
Sbeih concludes, “It’s like people fear cash now.”
The Mary Sue reched out to Sbeih via Instagram direct message. We also reached out to Chase Bank consumer banking via email.
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