According to the lawsuit, seen by several media outlets, the US president accuses the bank of causing him "significant financial harm."
Trump also claims the bank's action was political, saying it closed his accounts after he refused to admit losing the 2020 election and amid criticism following the January 6, 2021, attack on the US Capitol.
JPMorgan Chase said in a statement that it regrets the president's decision and that the lawsuit, equivalent to nearly 50 billion kronor, is unfounded.
The president's family company, the Trump Organization, sued another major bank, Capital One, last year, making similar claims.
