Consumer complaint received 2023-12-12
Company: CAPITAL ONE FINANCIAL CORPORATION
State: CA
Product: Checking or savings account
Sub-product: Checking account
Issue: Opening an account
Sub-issue: Unable to open an account

Complaint:
Over a month, I have attempted several times to open a Capital One checking and savings account by filling out an online application, only to receive a splash page with an XXXX number to call because more information was required. Each time I called the number and was routed to the Customer Protection Resolution Team. I spoke to about 4 representatives ( 2 of whom had heavy accents and I could hardly understand their English ) and 2 supervisors. However, all their responses were consistent in stating that my request to open a checking account has been denied indefinitely because the only information their system provides is that Capital One has ended their banking relationship with me, but it does not indicate any other information as to why the account was closed, thus invoking their decision. Only one representative was able to confirm this action occurred back in 2007, but there is no specific date available in the system. Capital One also stated that I should have received correspondence in the mail regarding this action, but of course that was almost 15 years ago, and I do not remember or have those records on hand to prove anything. All the agents I spoke with admitted that the reason why they have limited information available regarding closed accounts is because they have since upgraded their systems and no longer have access to any records that far back in time. I then inquired about how my recent application could be reconsidered, since that was the case, or if there was a way to show that since 2007, I have not had any such actions taken against me with any other banking institutions. The agents and supervisors all gave the same blanket answer that nothing could be done to reverse or overturn Capital Ones decision, as it was permanent and indefinite. I have been in good standing with a Capital One credit card Ive had for many years, I am a XXXX  XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX  and my mother has a long-standing account with Capital One ( when they were XXXX  XXXX  ) and it would make banking easier for us as I often transfer and move money back and to her account. Therefore, it seemed like a logical decision for me to also open a checking account with Capital One. Im disappointed that they are so rigid and unforgiving in their decision given that whatever happened with my account was so long ago and they havent been able to prove or give a detailed explanation as to why. Im also disappointed that they do not offer any opportunities to remediate the issue either. Even bankruptcies fall off credit reports after 7 years! Im pretty sure that whatever happened to cause my account to be closed was not due to any fraudulent activities on my part. I may have had a financial hardship during that time, but the details are still fuzzy because its just been too long ago and so many things have changed in my life since then. I can understand being penalized for some time until I can prove to be worthy of banking with them again, but to have this red flag on my account with them forever is a stretch! Ive never had any issues opening checking or savings accounts before now.

Company response to consumer: Closed with non-monetary relief