Consumer complaint received 2016-04-17
Product: Bank account or service — Checking account
Issue: Problems caused by my funds being low — 
Company: CAPITAL ONE FINANCIAL CORPORATION (MD)

On or around XXXX XXXX, 2016, I, XXXX XXXX, initiated in-house transfers from my Capital One checking account to go into my Capital One 360 Accounts ( XXXX PEO 360 account and XXXX Retail 360 account ). I have had these XXXX accounts with Capital One for approximately two years ( as well as the checking account ). XXXX account was used to fund my XXXX retirement account and the XXXX 360 account was intended to be a savings account. Both of these accounts was first funded by a checking account that I had with XXXX. I later opened the Capital One checking account and the XXXX 360 accounts was recurrently funded by the Capital One checking account. I was positively making deposits into both accounts successfully for a while. I came into some financial difficulties and it became that I was not having the funds available from the XXXX account nor the Capital One checking account. When this happened I would receive an email from Capital One that the funds was not available and the transaction could not be performed. Never was there an NSF attached to this issue. Due to the recurrent notice of unable to perform the transactions, I stopped the recurrent transfers. My intent was to deposit the funds as I received them ( available ). In the past recent months, this has proven to be unsuccessful. On the XXXX of XXXX, I decided to give the recurring transfers another try, in a attempt to see if this would aid me in making those funds available. The first transfer was scheduled to happen on Friday XXXX XXXX, 2016. I was aware of the funds not in the account. However, under the understanding of the present and past history, I understood that the transactions would not be made. On Saturday when I checked my account, there was a $ XXXX deficiency. Capital One transferred {$25.00} per 360 account and charged a {$35.00} NSF for both accounts. I spoke with several customer service agents at Capital One Bank and 360 representative. I stated that this was a in-house transaction that did not have to be performed because the funds was not available. As a precedent, this action would not have been performed. The XXXX rules states that ACH transactions are those of Direct Deposit or transactions on a payment. The transfers that Capital One performed was neither of these XXXX rules. Capital One did not lose on the transaction, they put funds back into their own door ; of which would be for their use. I instructed each representatives of whom I spoke to on Saturday XXXX/XXXX/2016 to return the funds back to the checking account and close the XXXX 360 accounts. They refused to do so. The funds was posted into my accounts on this day XXXX/XXXX/2016 and was available for dispute. However, Capital One failed to allow me to dispute these transactions. Please see attach transaction information showing funds not available and no NSF attach to the precedents. The representative for the 360 accounts stated that 360 does not have NSF fees associated with those account. Therefore, Capital One can not ethically initiate NSF on funds that are 360 funds.