This past weekend, several viral TikTok videos led numerous individuals to believe they could withdraw “free” cash from Chase Bank ATMs. However, the bank clarifies that this was merely a glitch, and those who received cash were engaging in fraudulent activity.

It may sound incredible, but it was too good to be true; this method constitutes check fraud, which is an illegal act. Chase Bank has informed YSL News that this issue has been dealt with, and they caution against participating in this popular trend.

An easy yet illegal scheme

This scam exploits a banking rule enabling customers to access a portion of deposited check funds before the check fully clears.

In the TikTok craze, individuals wrote checks for substantial sums and withdrew as much as possible before their checks inevitably bounced.

“No matter what you see online, depositing a fraudulent check and taking the money out from your account is clearly fraud,” stated a spokesperson from Chase.

Recent viral videos featured individuals joyfully tossing banknotes in the air, reveling in their unexpected wealth. Conversely, other clips revealed the negative outcomes of this scheme, with one user revealing a negative account balance following their unsuccessful attempt at the hack.

Remember, that money isn’t yours

Financial educator Jim Wang mentioned that individuals were facing negative balances due to the bank placing holds on their accounts or reclaiming the withdrawn funds.

“Mistaken bank gains are hardly ever beneficial. In the instance of this ‘glitch,’ it was simply a case of check fraud,” Wang remarked on Instagram.