Consumer complaint received 2021-04-29
Company: CAPITAL ONE FINANCIAL CORPORATION
State: CA
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
Capital One XXXX XXXX Account # XXXX To whom it may concern, An external transfer of {$150000.00} was made from XXXX XXXX to my checking account at Capital One. The bank received the money in full, placed a hold on it for a few days, everything was cleared, and I was provided access to my funds. When the funds were finally available for me to withdraw, I initiated a domestic wire transfer for {$50000.00} to my brokerage account at XXXX XXXX XXXX, and the funds were received at the brokerage account on XX/XX/2021. I also requested an ACH transfer of {$100000.00} to my account at XXXX, which was processed, and posted on XX/XX/2021. 

On XX/XX/2021, I received the attached email from Capital One stating that they are restricting my accounts, may terminate my accounts, and send the balance on the accounts to my linked external checking account. I already had plans to close this account, and because of that, had already withdrown funds. Only {$0.00} were left in the accounts plus any interest that I may be owed, and I was not really worried, until on XX/XX/2021, I received a call from my brokerage that Capital One has requested a recall on the wire transfer that had been sent to them from my account I was surprised. Money was in my account. Transfer was made from my account to my account at a brokerage. Why is Capital One doing this without even consulting with me?!!! So they are trying to get back the money into my capital one account, and freeze it, when there is no judgement or levy against me. I also saw my XXXX account had been restricted. So, I contacted my banker, and was told they have received a call from Capital One saying the source of my funds that have been transferred into my XXXX appears to be fraudulent I was so shocked.. " What? The bank is accusing me of fraud. Why? How? '' First of all, it is an absolute violation of my privacy for a financial institution to discuss allegations with another financial institution while there is no judgement or levy against me. Funds had been transferred from my account at Capital One to my account at XXXX. The transactions were completed with funds that were made available by Capital One, and without Capital One ever disclosing what is going on with my accounts or why they are taking this course of action, they have frozen my accounts, and have felt entitled to call other financial institutions to reverse the transfers with no direct authorization from me or even a simple clarification to me as to what is going on is unacceptable. 

I, HEREBY, DEMAND CAPITAL ONE TO PROVIDE ME WITH AN EXPLANATION AS TO WHY THEY HAVE FROZEN MY ACCOUNTS, UNDER WHAT JURISDICTION OR LAW. 
I request Capital One to unfreeze my accounts, cancel the reversal requests of my money at my other financial institutions back to Capital One, close my accounts at Capital One, and transfer the remaining balance to my linked external checking account. 

I am already in the process of involving my attorney and discussing the violations of my privacy by Capital One in accusing me of fraud with no proof or judgement with other financial institutions that I have accounts at, as well as the unlawful freeze of my accounts, and request for reversal of the fund transfers that had already been posted, again with no court order, or direct discussion with me. However, filing this complaint first to try and resolve this matter amicably. I have already tried contacting Capital One agents multiple times, and have not been provided any instruction as to what is going on, why my accounts are under investigation, why the funds that have already posted in other financial institutions are requested to be returned, and I have been told, no information can be provided, and everything is handled by a back office.

Company response to consumer: Closed with explanation