Chase Bank Glitch: How To Get "Infinite Money" (DON'T DO THIS)

All right, so we got to talk about one of the most insane free money glitches that I have ever seen. For some reason, it's gone completely viral, with more than 20 million views on Twitter. People have reportedly cashed out tens of thousands of dollars for free, and, oh yeah, it's completely illegal. As in, under no circumstances should anyone ever try this: the Chase Bank infinite money glitch.

Over the last few days, this trend has made its way around Twitter and TikTok, which resulted in dozens of news outlets and even the bank itself covering this as a literal warning of what could happen once this exploit is fixed. And believe me when I say this: unfortunately, there is no such thing as free money, especially when you are dealing with the biggest bank in the United States.

So if you're curious why this is such a bad idea, how this was allowed to happen, and what is being done to people who tried withdrawing free money, here's everything you need to know. And obviously, I shouldn't have to say this, but I will. This video is purely for entertainment purposes only, and I'm covering a newsworthy event as an example of what not to do. Or basically, here's why this is a really, really bad idea.

So, thanks so much, and also a big thank you to Enog for sponsoring this video, but more on that later. All right, so all of this begins with a really simple concept: checking accounts. On the most basic level, when you write or deposit a check into your bank account, that check is pretty much treated like an IOU from one financial institution to another.

In many cases, it takes time to verify the check is actually worth the price that's written. After all, a check in and of itself has no monetary value. It's not like I could write myself $100 million and then claim it's worth the asking price of a mansion. So, in order to process transactions like this, banks need to confirm that there's actually money behind the check before it could be cashed.

And this is where the fun part begins. Once a check is cashed, banks typically make funds available within 1 to 5 business days, which gives them enough time to certify that the check is valid, that money could be transferred, and you, as the recipient, could freely do as you please. In fact, here in the United States, it's federal law that the first $225 must be available for use the next day, but the rest is entirely dependent on a system of checks and balances (pun intended) to make sure you're not depositing money that doesn't exist.

And this is where the problem begins. See, initially, most banks don't know whether or not a check is going to clear, because at the end of every business day, all transactions are reorganized from highest to lowest priority. For example, cash withdrawals might be the first to record, then debit card transactions, then wire transfers, then other transactions, all prioritized from largest to smallest dollar amount.

This is why a check might initially seem to clear for $1,000, but after the other person withdraws a little money from the ATM and spends a little too much money at Costco, all of a sudden their account is negative, and the check that you cashed eventually bounces one or two weeks later, even though at first it seemed totally fine.

There could also be plenty of other reasons why a seemingly perfectly good check bounces weeks later, like the person could claim they were a victim of fraud, maybe the signature looks a little irregular, or plenty of other reasons that just aren't worth getting into here. Point being, there is a bit of a gray area where the bank gives you unrestricted access to the money before they confirm 100% that the check is really good.

Usually, this is why you have to wait before withdrawing money that was just deposited. Transactions are usually stalled on weekends and holidays. If you have a new account, you usually have more restrictions than the person who's been banking at the same place for years. And in 99.9% of situations, it's totally fine. There's never any issues.

Except in this case, everything went wrong. Like I said, usually when you deposit a check, the money is made available after one to five business days. But one person found that when they deposited a check in their own Chase Bank ATM, the full amount was available immediately.

And that's when things got a bit crazy. For whatever reason, the exploit was posted to TikTok, and within hours, people were writing themselves fake checks, getting an instant advance for the entire amount, and calling it the Chase Bank infinite money glitch, while encouraging others to do the same. You can't even make this up.

Make no mistake: in every sense of the word, this is check fraud. You are knowingly writing fake checks, and to make it even worse, you are committing a felony against yourself. I mean, just think about it. These people are writing a check in their own name, depositing that check in their own bank account, which contains all of their own information: from their name, address, phone number, and social security number.

And then they're on video withdrawing a verified amount of money. Now, you would think in cases like this people would know it's illegal, and stealing money from a bank doesn't go without severe consequences. But as far as what's happening to the people who use the infinite money glitch, as well as what Chase Bank said, you're going to want to pay attention.

Although before we go into the consequences and people's reactions to now owing tens of thousands of dollars, I think it goes without saying, but here's what I've realized: money is, at its core, just a tool. And just like any tool, there are effective ways of using it and ineffective ways of using it. Sometimes, it's just really nice to be able to purchase peace of mind, especially when you begin to realize just how much of your personal data is floating around on the internet in the hands of data brokers, third parties, spammers, or anyone else you don't want having it.

I'm talking your full name, date of birth, social security number, home address, phone number, email address, relative info; it's all out there. Now, even though this can be a huge problem, the good news is that you do have a right to request the data brokers remove the information they have about you. And our sponsor, Incog, is there to help you do exactly that.

They do all the dirty work for you by reaching out to data brokers on your behalf, requesting that your personal data be removed, and dealing with any objections that websites or data brokers might have. And since a lot of data brokers continue collecting information even after they've removed it, Incog also takes care that your data stays off the market by conducting repeated removal requests. All you got to do is create an account, grant them the right to work for you, and sit back while they keep you updated every step of the way.

I find that the peace of mind to being able to scale back on robocalls, phishing attempts, and spam emails is completely worth it. And if you don't make an active attempt to get your information removed, it's probably going to keep happening. So, if you're interested in having your personal data taken down, you could get 60% off an annual plan when you go to incog.org and use the code "gram." They also have a 30-day money-back guarantee, so you can try it out risk-free to see if you like it. Again, the link is down below in the description, or you could go to Incognit.com to sign up today. Thank you so much, and now let's get back to the video.

All right, so in terms of the Chase infinite money glitch aftermath, just like you'd expect, once the glitch was patched, TikTok users started posting about enormous sums of money that are now owed back to the bank, with massive negative account balances. Because in no way would this ever be a situation where Chase Bank just lets people keep extra money.

I mean, let's just break this down: if you're convicted of wire fraud, you could spend up to 20 years in federal prison and owe a penalty of up to $250,000. But if you commit wire fraud against a financial institution like a bank, you could be imprisoned for up to 30 years and owe as much as a million dollars in fines. Of course, in response to all of this, Chase Bank recently made a statement that they are aware of the incident and it has been addressed.

Regardless of what you see online, depositing a fraudulent check and withdrawing funds from your account is fraud, plain and simple. Since then, Chase has fixed the bug and is reportedly combing through the system to retrieve their money. Some people who took advantage of this now say that their accounts are locked, pending transactions, are shown as deductions, and negative account balances are shown.

But as far as how other infinite money glitches played out in the past, so far, the results have always been really, really bad for the customer. Like, just take a look at the one that happened last year: the Cash App infinite money glitch. Back then, Cash App users discovered that during an update, they could add unlimited funds to their Cash App balance without those funds being pulled from their banking institution.

Even though they couldn't withdraw those funds in cash, they could make payments to online retailers. So, that's what they did. One even reported spending as much as $40,000 until Cash App reconciled the account and asked for their money back. After all, according to their terms of service, after 45 days of an overdrawn account, Cash App will begin steps to retrieve the money.

We might contact you or take other legal actions to collect amounts due. There's also the fake check scam that's been around forever, where someone sends you a check for a higher amount than what's owed. They ask you to send back the difference, and then after a week or two, their check bounces. The bank claws back the money you thought was available, and you've sent them an amount that you can no longer recover.

Or some people might even remember the Robinhood infinite money glitch that occurred in 2019. Back then, one user posted on Wall Street Bets how he was able to borrow an infinite amount of money by purchasing call options, selling those call options, and then borrowing against his purchase as many times as he wanted. Essentially, he was able to turn $33,000 into a $17 million investment portfolio within a day, with plenty of others following his lead and doing exactly that.

Now, if you thought the story ended there, think again. I actually reached out to this user on Reddit, got him on my channel, and confronted him about the consequences of what he did. And if you're curious what ended up happening to him, here you go, right from the source: "To summarize, I'm officially banned from ever using Robinhood again. And then they also stated an amount of money that I have to pay. I'd rather not say how much. It's not horrible; it's not as bad as I was expecting, because at one point, my account was at the very top, was negative $249,000, and I have a screenshot of that if I could go back in time. I probably would not have done this."

Of course, some people tried to make the argument that borrowing money from within an investment account isn't exactly illegal if they allow you to do it. But make no mistake: this is still significantly different than knowingly writing fake checks and trying to scam the bank out of their own money.

So in terms of the realistic consequences for the Chase Bank glitch, here's my opinion: now, I'm just guessing, but most likely, Chase Bank is going to do everything at their disposal to retrieve the money that was stolen. And if the money is not returned within a certain time frame, they have the resources to file lawsuits and go after people criminally.

Again, I could be wrong, but I have a feeling that Chase would want to make an example of this, that people can't take advantage of them without severe consequences. Because if they let this slide, who's to say people won't try other methods of obtaining free money?

Second, this is also precisely why banks take your transaction history into account when deciding on limits. Like, if you're a customer with a bank for 10 years and your average account balance is $100,000, most likely, you're pretty safe depositing a $20,000 check. But if you're a brand new customer with $50 to your name, chances are they're going to want to hold off a little longer on that $10,000 deposit.

That's why the way I see it, this Chase Bank glitch really isn't anything new. It's just a fancy word for check fraud, which has been around for quite some time; except in this case, the bank allowed you to withdraw money that you just deposited before they were able to confirm that check was 100% good.

Of course, now this exploit is fixed, so no, you can't do this anymore. But it is shocking to see just how quickly this information spread online, and then how many people thought they could get away with it, and that a banking glitch would ever work in their favor—because it never does. Eventually, banks are going to catch on, accounts are going to be fully caught up, and if you owe the difference, you're going to be 100% responsible for paying it back.

Oh, and also, if you couldn't tell, I'm filming this video incredibly sick, and my voice gave out quite a few times. In fact, I had to refilm this entire section because it came out blurry. So, if you guys appreciate all the work I do to try to bring you up-to-date information, it would mean the world to me if you hit the like button and subscribe.

That's all I ask for if you made it through the whole video and you haven't subscribed already. So, it's totally free; just give it a quick tap. Thank you so much, really appreciate it, and until next time.