Consumer complaint received 2020-01-28
Company: CAPITAL ONE FINANCIAL CORPORATION
State: CA
Product: Checking or savings account
Sub-product: Savings account
Issue: Managing an account
Sub-issue: Banking errors

Complaint:
See XXXX-XXXX  - I need to ask you to open this again. 
Capital One questioned ( or implied ) that they never had received the {$650.00} from XXXX XXXX. XXXX XXXX  sent Cash Letter XXXX on XX/XX/XXXX. This included the check in question, as well as the before and after items. 
This amount was listed as 'fully available ' in my account ( and per the Capital One statement ) on XX/XX/XXXX. 
On XX/XX/XXXX, Capital One issued a chargeback for {$650.00}, due to Endorsement Irregular. 
That means Capital One got the money, that it had cleared, and was fully available to me for a week. The fact that they then issued a chargeback further confirms they had the {$650.00}. 
The reason for reopening the case is that it has now shifted from Capital One arguing they never received the money to 'where did the money go '. On a chargeback, that money taken from my account must go somewhere. What's the paper trail at Capital One, starting on XX/XX/XXXX, showing the return of the money? Neither XXXX XXXX  nor the account the money was drawn on have any record of the {$650.00} being returned. ( Had it been properly returned, I would have been issued a new check, which I could then deposit again ). 
Here is the latest email exchange : XXXX - Well need to go through this again, as I simply dont believe you. 

1 ) Ive documented - and am doing so again - the fact that XXXX XXXX sent to Capital One Bank the {$650.00} in question and that it cleared on XX/XX/XXXX. See attached email from XXXX XXXX at XXXX. In case you dont understand the attachment, it shows directly that XXXX sent you the money. It lists the check sent to your bank, shows all the CL details, and confirms the RTN. ( And, as a matter of fact, the {$500.00} 'Item Before ' may also well be a deposit from me, as the {$650.00} was but XXXX of many checks I deposited to your Bank that same day ). 

2 ) I deposited said check on XX/XX/XXXX, and according you, the funds were Fully Available '' on XX/XX/XXXX. That means theyd cleared - the money transferred from XXXX on XXXX WAS IN MY ACCOUNT. ( In point of fact, if, say, I only then had had {$670.00} in my account, and had transferred that {$650.00} out on XX/XX/XXXX - Id have my money, and wed be having a different discussion, because the {$25.00} remaining certainly would not have covered the {$650.00} you backed out of my account on the XXXX ). Seeing how you operate, I doubt seriously that youd front me the money - despite the legality of having done so, and despite my very-long-term relationship with your Bank. That means you had my money in my account. 

3 ) NOTE THE ENDORSEMENT ON THE BACK OF THE ATTACHMENT 1470.pdf. Unless I need a new pair of glasses, that says Capital One, NA, with associated details, including your RTN. How is is possible that your check processing team cant find A CHECK ENDORSED BY YOUR BANK? 

You need to challenge your check processing team - again, and firmly - with the above facts and attachments. What say they to this evidence ( presented again ) that the funds were sent by XXXX to Capital One - AND CLEARED? 

Oh - and I also have an email from the Senior Account ( and CPA ) at the company who wrote the check to me in the first place. They show also that the funds cleared their account on XX/XX/XXXX, and dont see ANY refund of that money. From their seat, theyve paid me. The key point there, in case you missed it, is that THE FUNDS CLEARED THEIR ACCOUNT ON XX/XX/XXXX. 

Nobody has any evidence that the funds were returned to XXXX by Capital One. 

But - thats after the fact. The problem here is that your check processing department cant find the funds that were sent to you by XXXX, to begin with. Thats counter to the evidence above. 

Once they find this money, then Ill expect that the {$650.00} is restored to my account promptly ( plus interest - since you so kindly docked me {$0.00} interest on the XXXX ) ). 

How bout this, XXXX? Instead of you fronting for you check organization, find a senior check processing specialist from that part of your company, and set a call with you, me, and that person. Im certain I can get XXXX XXXX from XXXX to join that call. Have them explain to all of us why they cant find a cleared check endorsed by Capital One. 

XXXX XXXX ( XXXX ) XXXX screen-shot of check : - Attachment below Cash Letter information, and confirmation of RTN : - Attachment below Capital One statement extract showing the {$650.00} deposit on XX/XX/XXXX, and the deposit reversal on XX/XX/XXXX. 
- Attachment below Details on the statement, expanding the check to show funds fully available on XX/XX/XXXX. 
- Attachment below XXXX XX/XX/XXXX, at XXXX XXXX, XXXX wrote : Dear XXXX , First and foremost, were sorry for the inconvenience and the amount of time you spent speaking with us while trying to get this matter resolved. We agree the experience you had didnt live up to the standard Capital One strives for. Weve thoroughly documented your encounters, and customers such as yourself are the ones who help us drive change in the bank to improve our processes and policies.

With that said, we worked closely with our check processing team who confirmed that we never received the funds from XXXX/XXXX XXXX XXXX  as they did not pay the check due to an irregular endorsement. While we understand its not the outcome you were hoping for, we recommend working with XXXX XXXX to recover the funds. Please know we will gladly assist should XXXX need any additional information from us to assist in their investigation. 

If youd like to discuss the details of this letter, I can be reached at XXXX, Ext. XXXX. Im generally available from XXXX XXXX  to XXXX XXXX  ET, Monday through Friday. 

Thank you, XXXX Office of the President Capital One Note : Email is not a secured method of communication and Capital One makes no representation or warranties about the safety or security of any email you may send to us.

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Company response to consumer: Closed with explanation