Consumer complaint received 2020-12-30
Company: CAPITAL ONE FINANCIAL CORPORATION
State: VA
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
XX/XX/XXXX : After making deposits into two separate bank accounts ( in person, with photo ID shown ) that had significant balances prior to those deposits, Capital One Bank without my authorization and without notifying me put on a restriction on the entire balances of both accounts ( one account is mine, and the other is a joint account with my wife. ) Capital One did notify by email, however, that both checks had been deposited, and that the funds would be available XX/XX/XXXX. 

On XX/XX/XXXX my wife found out that a check she had written against the joint account was not honored because of a restriction on the account. She called Capital One Bank and was incorrectly told that " her husband '' ( me ) had put a restriction on the account, and only " her husband '' could get that restriction lifted. 

On XX/XX/XXXX I went to our Capital One Branch to find out what happened. The teller there was unable to connect to the relevant Capital One department, but they gave me a number I could call. After an hour on the phone ( with three transfers ) I was able to get the restrictions on the accounts lifted, but was not given a reason for why the restrictions were put in place. 

On XX/XX/XXXX I received a letter in the mail ( the letter was dated XX/XX/XXXX ) saying that because of " unusual activity '' Capital One was restricting both of our accounts, and it gave me a number to call. I called that number, explained that the restrictions had been lifted, but then explained why I was very upset and that I still did not understand why either ( 1 ) restrictions were placed on the entire balances of both accounts, or ( 2 ) why I had not been immediately notified about the restrictions. 

On XX/XX/XXXX I sent a letter to Capital One Bank 's headquarters ( per the instructions given in the aforementioned phone call ) outlining my concerns and requirements for resolution. 

On XX/XX/XXXX I received a notice from my wife 's health insurance company that they did not receive the automated monthly premium payment ( from a Capital One account that was restricted ), and that as a result we were delinquent ( I paid that premium immediately online with a credit card, but was assessed a {$45.00} late fee. ) On XX/XX/XXXX I received in the mail a letter from a member of Capital One Bank 's " Bank Escalation Solutions Team '' that tried but failed to address my concerns, and which did not adequately explain why restrictions had been placed on the entire balances of our two accounts. 

On XX/XX/XXXX I reached the person referenced in the aforementioned letter, and went through in detail what my concerns were, how there were not addressed in the letter, and what I expected from the bank. The person said Capital One Bank would send another letter. 

On XX/XX/XXXX I reached that person again and said I had received no letter, and he said it had been sent at the end of the previous week. 

On XX/XX/XXXX I reach that person again, told him I had still received no letter, and asked him to send me a copy via email, which he did. The letter, however, did not address most of my concerns, and it also did not provide an explanation of why restrictions were placed on the entire balances of both of our accounts. The letter did acknowledge, however, that Capital One Bank was in error by not properly notifying me when the restrictions were put in place.

Company response to consumer: Closed with explanation