Consumer complaint received 2022-04-21
Company: CAPITAL ONE FINANCIAL CORPORATION
State: PA
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Other features, terms, or problems
Sub-issue: Problem with balance transfer

Complaint:
In XX/XX/XXXX, I requested a balance transfer of {$3500.00} from my capital one card to go to my XXXX XXXX XXXX  card online. XXXX sent a paper check to capital one and they cashed the check. The payment posted to my XXXX card but the payment was not applied to my capital one card. I received a letter from XXXX on XX/XX/XXXX saying that the balance transfer was done with an account number ending in XXXX which is not my account. My capital one account ends in XXXX. I contacted XXXX and spoke with them on the phone and they did a three-way call with Capital One and they werent able to help us on the phone. XXXX submitted an inquiry to investigate the balance transfer on XX/XX/XXXX. On XX/XX/XXXX I received a letter from XXXX that they are unable to request the money back from capital one because the balance transfer returned was declined because the funds were received by capital one. I called XXXX the when I got this letter and once again explained that the payment was never posted to my capital one account. They submitted a second inquiry to investigate the balance transfer and told me I would hear back in 10 days. Today is XX/XX/XXXX and I had yet to hear back from XXXX regarding the second balance investigation inquiry. The original letter I got from XXXX on XX/XX/XXXX said that I had to contact capital one to handle this further. I contacted capital one today and spoke with a customer service member and then also escalated to a supervisor or a senior balance transfer employee. She was not helpful because all she did was continue to repeat the process and that I had to go through the XXXX bank and they had all the tools necessary to handle this issue. She refused to help me even though I told her that I had a letter from XXXX that showed that capital one processed the payment. So then after dealing with her I called XXXX and they were not able to help me either because they said that this was on Capital One. So now I am caught in the middle between two banks who claim they are unable help me because they keep pointing the finger at the other company who they say have all have the tools to assist me with this process. The bottom line is that XXXX paid capital one {$3500.00} however capital one never applied that payment to my account and capital one is saying that they can not investigate it because they have no way of figuring out where the money went however they said that if they were able to figure it out that they are legally responsible for return those funds back to XXXX. I need some help to resolve this because now I owe {$7100.00} instead of {$3500.00}. I am looking for capital one to refund the {$3500.00} that they processed but did not post to my account. XXXX has proof that capital one cashed the paper check that was sent to capital one. Neither company is willing to escalate this and claim they cant do anything. I would appreciate any assistance on this.

Company response to consumer: Closed with monetary relief