A series of viral TikTok videos recently misled some users into believing they could obtain “free” cash from Chase ATMs, but the reality was far from a windfall. According to the bank, what these customers were actually engaging in was a form of check fraud.
Videos circulated on TikTok showing individuals depositing checks for large sums at Chase ATMs and then withdrawing smaller, yet still substantial, amounts. The videos suggested that users had discovered a glitch, allowing them to “hack” the system for easy money.
However, this so-called glitch was nothing more than check fraud—a criminal offense. In a statement, Chase confirmed that the issue has “been addressed” and issued a stern warning to anyone considering attempting the same scheme.
The ruse exploits a standard banking practice that allows depositors to access a portion of their funds before a check has fully cleared. In these TikTok videos, participants wrote checks for exorbitant amounts, then quickly withdrew as much as they could before the check inevitably bounced.
“Regardless of what you see online, depositing a fraudulent check and withdrawing the funds from your account is fraud, plain and simple,” a Chase spokesperson said.
One video showed participants gleefully tossing dollar bills into the air, while other posts revealed the harsh reality: negative balances in their Chase accounts. According to financial educator Jim Wang, these negative balances were the result of the bank placing holds on the accounts or deducting the withdrawn funds after realizing the checks were fraudulent.
“The people who tried this were seeing huge holes in their accounts or massive negative balances,” Wang explained on Instagram. “Bank errors in your favor are almost never in your favor. In this case, what people thought was a ‘glitch’ was simply check fraud.”
Fake check deposits are a common form of check fraud and are not new, although in an era where many young people don’t know the ins and outs of using checks, they were mistaking the deposits for a money hack. And Chase is reminding people that they’re simply committing check fraud against themselves — making it relatively easy for a bank to catch on and hold them accountable.
Wang’s advice to anyone who encounters unexpected money in their account? “It’s not your money, and when the bank figures it out, they will want it back. Do not spend it, do not move it—just leave it alone and inform the bank.”
Wang says not only can this affect your standing with Chase, “you might not be able to open an account at another bank, your credit could be affected and it’s just not worth it.”
