Consumer complaint received 2018-06-10
Company: CAPITAL ONE FINANCIAL CORPORATION
State: IL
Product: Checking or savings account
Sub-product: Savings account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
My father whom has the same address as me who gets paid by the state to watch my children doesnt have a bank account and not able to afford paying the large fee charged by the currency exchange gave me his checks to deposit into my account and I just gave him the cash amount of the checks mind you I gave him the cash from my own pocket which in total was {$3600.00} and prior to me even depositing his checks them clearing and me being able to access the money, which I didnt care about because I knew the checks were legit and due to them being issued by the state the verification of funds would be quicker ultimately reducing the hold time so I deposited the checks in my account on XX/XX/XXXX I got a email from my bank specifically stating that my deposited checks were received however hold onto the paper copy of my checks and dont write void on the checks until I received a separate notification from the bank notifying me that my submitted items were accepted and deposited into my account for processing so I did nothing with them and not long after I received a email notification that stated and I quote Your check has been successfully deposited into your account. Go ahead and destroy your check.

To : MONEY, XXXX Deposit Date : XX/XX/XXXX Fully Available On :XX/XX/XXXX. So they would be holding my funds until the XXXX  not a problem didnt think anything else of it my account was fine and had no issue accessing it, now on XX/XX/XXXX my son was asking about how he could get a bank account to setup direct deposit payments from his job as its his first job so I told him I would look into it so I logged into my acct to see what products they offered saw an account for teens that came with a debit card they are account holders with a parent on the account to so I decided to open the account for him all was fine and the account was set up fine I logged out my acct and later that day received a email from the bank letting me know, We're restricting your Capital One 360 account ( s ) until we can verify your recent account activity. Please call us at XXXX within the next 10 business days so we can confirm this info. We're available Monday-Friday XXXX XXXX.-XXXX XXXX  ET and Saturday XXXX XXXX.-XXXX XXXX ET. So the next day I did call confirmed I in fact did the activity in question which was deposit the checks and opened a custodial account for my son, verified the checks in my fathers name why he received confirmed he signed them over to me for deposit etc. then I was advised that my checks would have to be verified for validity and fund availability by the check remitter before funds would be available, mind you not once did I ever inquire about when my checks would be available when I would be able to access my funds on my account or why there was a hold on my checks that I submitted because I honestly didnt care and I had already been told in the email when they were accepted for deposit to my account that they would be on hold until XX/XX/XXXX so I let her know just that and that thats fine I dont care about that thats not what I was calling regarding Im calling you in regards to my account being restricted and because I never received the trial deposits in my external account I added for funding at the time I opened my account so Im unable to verify my account to have it linked can you either send them again or take the account off and re-add the same account in case I put a number in wrong or something because it never has taken more than a day when Ive done this same verification other places with the Same account so ultimately she advised me the trial deposit let had been sent I need to check again Im mistaken and basically implying I either didnt look or was unable to look because it wasnt actually my account so I said ok but I know what the process is and Im doing because Ive done so she decides to tell me well I dont maybe try XXXX XXXX and two other amounts which of course were the wrong amounts and caused me to have two failed attempts at verification so I said can I speak to a supervisor she said sure hold on Ill see if there is one that can help placed me on hold and then came told me that a supervisor wasnt available and they would have to call me back when they got off the call they were on at that moment asked for my best contact number I gave her the number hung up and never received a call that day or the next then I got a email from back telling me that my account was locked from two failed attempts to verify external account in order to unlock the account when I received the trial deposits I need to call the number below verify the deposit amounts with the representative and the account access would be restored so on the following day the XXXX I got the deposits in my account called the bank let him know why I was calling and so fourth so he then decided to tell me that he understood hes sorry however thats not correct and that the reason my account was restricted was due to my check deposits and that until the checks were verified I wouldnt be able to access my funds transfer or withdraw my funds I cut him off asked for a supervisor and told him I dont care I didnt ask you one time about my account balance my funds or transferring them I simply told you I was calling to confirm the trial deposits I got today to verify my external account in order to link it to my bank account per the email your bank sent me advising me to do to remove the account lock out that was placed on my account after I entered it incorrectly two times thats it thats all so he tells me to hold on Im on hold for a good 15 minuets and then the call was just disconnected so I just was done at that point. now Friday XX/XX/XXXX comes and I check to see if the restrictions were removed because my checks were verified cashed and cleared by the remitting banks and the funds were deposited and listed as available in my account and no longer on hold so I checked my account and my account was still restricted so I called my bank was on hold for a hour finally got a representative she transferred me to the department that handled the restrictions I sat on hold for another 40min and the call disconnected so I called back sat on hold got a representative and got over to the department that I needed explained the issue my previous interactions with the bank prior as well as being told something different every time I called let him know I want the restrictions taken off of my account now not only is it past the XX/XX/XXXX the checks have been verified the checks have been cleared and determined to be valid and the hold has been removed from off of the funds and the funds are now available, this man had the nerve to tell me after all of this and after sending me a second email confirming acceptance of my checks for processing and deposit to my account and to now destroy my checks that the restriction on my account will not be removed until I verify my identity and sent me a link to do so and I uploaded my identification he received it with me on the phone tells me ok let me submit this tells me ok that was accepted then starts making small talk says ok now next thing the restrictions nor funds will be accessible to me until they can now confirm that I was able to deposit them into my account because they dont accept third party checks and he doesnt know how long that will take so he cant tell me, so Im like excuse me thats not legal you cant do that this is not no {$5.00} or {$500.00} dollars we talking about and I have bills and four kids now I didnt say anything or argue about my money when yall put the hold on my funds to verify the funds and to make sure the checks cleared that was fine not a problem however what you trying to tell me now Im not even finna entertain and further more if the policy of your institution is that if not accepting third part checks that is fine and thats youre institutions right to do so however if thats the policy then that is something that you advise a customer of prior by sending an email advising them that their items submitted for deposit were being rejected due to being made payable to someone other than the account holder and we have a choice and the ability to take that check/s somewhere else and cash them you dont get to tell a customer this after your institution has not only sent them the email to notify them of the items they presented for deposit had been ACCEPTED for processing and deposit to their accounts but telling them to DESTROY that item as well where they no longer have a choice of cashing the checks elsewhere even if they wanted to, or after you placed a hold on the funds and have held them until the checks cleared and the checks clear are determined to be valid and the funds are available in their account no that you can not do and block me from my account accessing my account and my funds and cant tell me how long its going to be. This bank has accepted my checks for deposit on the account told me to destroy the checks placed a hold on the checks until the checks were verified and cleared and were paid by and received the funds from the checks from the remitting bank and after all of this was done are not allowing me access to my account information and funds that are listed in my and are in my account as available there is no branch for me to just walk in to this is illegal and I need a resolution immediately I have four children and bills please assist me.

Company response to consumer: Closed with explanation