Consumer complaint received 2022-12-15
Company: CAPITAL ONE FINANCIAL CORPORATION
State: ME
Product: Checking or savings account
Sub-product: Savings account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
Please go to XXXX  and look at my review that says do not use and then look at all the other complaints about Capital One holding people 's money not allowing us to have access to our money. When accounts are closed they don't release the money... They told me that I can't wire or use the money that I deposited in my account for XXXX to XXXX  days .... Even though they're risk department verified with my initiating bank that the funds were released the prior week and the funds are good. They are XXXX. I closed my checking account first after I was sent from ATM to ATM to ATM when I tried to withdraw some money from my account every time having to get a Capital One rep on the phone and then doing all kinds of things and I still couldn't access my account so they tell me to go to another one. Even went so far as to get a manager who told me that there must be something wrong with my debit card. Later that day. Capital One risk called to verify my deposit that was already cleared the prior week that came from my own bank account at another institution that came from an XXXXXXXX XXXX XXXX XXXX So there is an entire XXXX XXXX. Easy to follow to show it's legit. The risk rep got my initiating bank on the phone that repeated to them several times at the money was released the Friday before and should not be being held by them .... I still can not use our access my money from my savings account which has over XXXX in it for my loan ... And the checking account that I closed still has not had the money transferred back to my other bank. Capital One is XXXX  with regards to their banking division. They irrationally hold consumers funds for a irrational length of time and put consumers in stressful nightmares affecting everything in our lives. I understand if there's concern about a wire that might come in or fraud somewhere but when it came directly from my own bank account and could be verified and was verified by my other financial, This is less than a means for XXXX XXXX to make a lot of money off a consumer 's money as long as they can before they release it so consumers can use our own money. They are XXXX. How is this? Not illegal what they are doing. Go on XXXX please and see how many other XXXX XXXX banking customers have ended up in the same situation. I am XXXX XXXX XXXX and never in my life. Have I had a bank that I open an account with and deposit money in that has been in there and has cleared not allow me to touch her. Use my money for XXXX to XXXX  days. That's absurd. And how is that not illegal. I want my money released please. I even got another manager yesterday morning first thing to close my checking account that has XXXX in it. He supposedly did it over the phone and I told him I wanted it wired back to my bank account because that goes within a day. He told me it can not be wired for XXXX to 60 days .... But I could do a transfer from Capital One that would take XXXX to 3 days. That makes no sense, correct? If I can get the money out XXXX way why can't I get it out another way! And, my account still is not closed and they did not even begin to transfer that money back! I want my money out of Capital One ASAP please. Somebody needs to go after them and find them or put the XXXX XXXX  out of business. I've never had a problem with a credit card XXXX. The XXXX XXXX in my mind is committing a lot of fraud with consumers money. It's causing consumers a lot of financial detriment and life stress and it's just wrong. It's just wrong that we can't access money that has been cleared for XXXX to 60 days when it is our money. XXXX XXXX is merely using it to make more money for themselves. They're really making that tactic so they can hold money longer and every day they hold money longer for each person. They are in that much more interest on it to make more money for the big wigs up topXXXX XXXX XXXX XXXX Please help me get my money released in back in my bank account at XXXX XXXX XXXX  and help me get my account closed with XXXX XXXX please. They should be paying consumers that they put through this stuff. Some sort of restitution for the pain and suffering and turmoil they put us in. My time has value. I need that money to manage my life and they're so XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX How can a bank not close an account the day their instructed to do so? And how can a bank hold on to somebody's cleared money for XXXX to XXXX  days and not allow consumers access to our own money??! and they still have not initiated the closure to my savings account that the manager that I made sure I got a manager supposedly did the morning of XX/XX/XXXX.

Company response to consumer: Closed with explanation