Consumer complaint received 2017-11-28
Company: CAPITAL ONE FINANCIAL CORPORATION
State: MA
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Problem with a purchase shown on your statement
Sub-issue: Card was charged for something you did not purchase with the card

Complaint:
There are two accounts in dispute, both Capital One MasterCard accounts. On Sunday, XX/XX/XXXX @ approximately XXXX XXXX., I purchased merchandise/consumer good " Bitcoin '' in the amount of {$400.00} from XXXX XXXX, a company based in XXXX, XXXX, with my Capital One XXXX account " # 1 ''. Then, on Monday, XX/XX/XXXX @ approximately XXXX XXXX., I purchased merchandise/consumer good " Bitcoin '' in the amount of {$50.00} from XXXX XXXX, a company based in XXXX, XXXX, with my Capital One MasterCard account " # 1 ''. In addition, on Sunday, XX/XX/XXXX @ approximately XXXX XX/XX/XXXX., I also purchased merchandise/consumer good " Bitcoin '' in the amount of {$300.00} from XXXX XXXX, a company based in XXXX, XXXX, with my Capital One MasterCard account " # 2 ''. Bitcoin is a private, speculative non-cash " Cryptocurrency '' which I purchased for private investment purposes. It is no different than a purchase of any other merchandise item for investment purposes, i.e. : Classic Automobile, Antique Furniture, Famous Painting, etc., and it 's value is only based on variable individual human perception. Despite it 's description label of being a " currency '', it is NOT a traditional public currency as regulated, controlled, issued and recognized by established global Governments and their authorized, legal Banking institutions and Monetary Systems. ( Capital One itself does NOT even recognize or accept " Bitcoin '' as a legitimate legal currency! They will NOT accept " Bitcoin '' for payments, deposits, etc.! ) The dispute in question is not about the ( 3 ) above listed Capital One MasterCard charges - they are legitimate. It is regarding the fact that I have been charged " CASH ADVANCE '' fees for which I have received NO CASH! A CASH ADVANCE charge of {$12.00} on account " # 1 '', and a CASH ADVANCE charge of {$10.00} on account " # 2 ''. When I contacted Capital One directly by telephone on Tuesday, XX/XX/XXXX regarding these fees/charges, they stated that they would only " investigate '' the {$12.00} fee, but then adamantly refused to do anything about the {$10.00} fee. ( Interesting, is n't it?! ) They also refused to give any legal proof that " Bitcoin '' is in fact " cash '', neither could they tell me where I received this " cash ''. CASH, as defined by XXXX 's Law Dictionary, is : " Ready money ; whatever can be used as money without being converted into another form ; that which circulates as money, including bank-bills. XXXX v. XXXX, XXXX XXXX. XXXX ; XXXX v. XXXX, XXXX XXXX XXXX, XXXX XXXX. XXXX ; XXXX v. XXXX, XXXX XXXX. ( Va. ) XXXX ; XXXX v. XXXX, XXXX XXXX. ( N. Y. ) XXXX. '' As you can now CLEARLY see, " Bitcoin '' does NOT fit this legal definition whatsoever! These actions by Capital One obviously constitute both FRAUD and THEFT, and demand is hereby made that Capital One immediately withdraw these illegitimate " CASH ADVANCE '' charges without any further delay.

Company response to consumer: Closed with explanation