After sharing the experience of having my Jiaxin Wealth Management account frozen, here's how to quickly transfer the balance in the account. The incident occurred before the New Year. I used the Jiaxin Wealth Management debit card to withdraw money from the ATM (four withdrawals of five thousand each), which resulted in the bank card being frozen. Subsequently, I communicated with customer service over the phone and was informed that I needed to provide the Jiaxin account number, balance, passport number, and the name of my employer to unfreeze the account.
As the waiting time for Jiaxin Wealth Management's Chinese customer service was long, I decided to contact the English customer service. Providing the account number, balance, and passport number to the English customer service was not an issue, but the name of my employer did not match. It was speculated that the discrepancy might be due to the Chinese company name or its literal translation provided during the account opening process.
Due to the incorrect employer information, the account was flagged by Jiaxin Wealth Management's risk control system and was blocked (unable to log in). To unlock the account, it was necessary to provide a notarized letter from the U.S. Embassy containing the Jiaxin Wealth Management account number, a copy of the passport, and an explanation for the unlock request.
With no other options available, I planned to fly to Beijing after the Chinese New Year to pay for the notarization at the U.S. Embassy. A few days later, I remembered that I had linked my Jiaxin Wealth Management account when depositing funds into my Interactive Brokers account. Therefore, I attempted to transfer the balance from my Jiaxin account to Interactive Brokers using the deposit method provided by Interactive Brokers.
Click on "Transfer & Pay" on Interactive Brokers, then select "Deposit Funds".
If you haven't linked your Jiaxin Wealth Management account before, choose "Link Bank Account" here.
Select "Checking Account" as the bank account type, enter the Jiaxin routing number in the routing number field, and enter the personal bank account number provided by Jiaxin in the bank account number field. Both of these numbers can be found by logging into Jiaxin and checking the ACH transfer information. It is recommended to save the routing number and personal bank account number before the Jiaxin account is frozen, or connect Jiaxin to Interactive Brokers in advance to prevent any issues.
After completing the above steps, click on "Transfer & Pay" on Interactive Brokers again, then select "Deposit Funds" to see the newly linked Jiaxin Wealth Management account (Schwab). Choose the Schwab deposit method, enter the amount, and you can immediately deposit funds into Interactive Brokers.
Funds transferred to Interactive Brokers can only be withdrawn back to the deposit channel (Schwab) within 60 days and cannot be transferred to other channels. After 60 days, there are no restrictions. After transferring the balance, contact Jiaxin customer service the next day to request the closure of the account. The account was successfully closed after a week, and it can be reopened with Jiaxin Wealth Management after six months.