Consumer complaint received 2022-12-01
Product: Credit card or prepaid card — General-purpose credit card or charge card
Issue: Other features, terms, or problems — Problem with balance transfer
Company: CAPITAL ONE FINANCIAL CORPORATION (NY)

A balance transfer was made in the amount of {$5600.00} in XXXX of XXXX from my Capital One card to a XXXX XXXX card. I began contacting Capital One in late XXXX because the balance transfer had not come off of that account. Throughout summer, both companies were contacted multiple times. XXXX XXXX completed several research requests concluding that they did send the funds. Capital One still stated the funds were not seen. In XX/XX/XXXX, I called XXXX XXXX and discovered that the last 4 digits of the account number they sent the funds to did not match my account. I am unsure how these numbers got changed. To remove the balance from my account, Capital One is requesting an EFT report showing that the funds were sent. On XX/XX/XXXX, I called XXXX XXXX requesting that further documentation be sent showing that the balance transfer occurred. They stated that the only proof they could provide is my statement. The statement had already been sent to Capital One and was determined to be insufficient proof of transfer. XXXX XXXX stated that the only other option is a custom letter. I again called Capital One to let them know. After some discussion, a three way call was done between myself, the Capital One representative named XXXX, and the XXXX XXXX representative named XXXX. This call was recorded on both sides. XXXX stated to XXXX that the EFT report was all that was needed to resolve the issue. XXXX stated multiple times that he understood the request but XXXX XXXX was unable to provide that, and that the only proof that they could provide was my statement or a letter. XXXX let him know that those options are not sufficient. He acknowledged that information. XXXX placed a request for both the EFT and a letter but acknowledged that it is unlikely that the XXXX will be sent. He also stated that regardless of the outcome, there is no way to cancel the balance transfer, leaving me to pay the balance on both cards. I have now have the same balance on two cards. Capital One has temporarily refunded the balance to allow me to submit further documentation but it will be recharged to the account if sufficient documents are not sent. 

XXXX XXXX sent me a transaction report to verify that funds for a balance transfer were sent to Capitol One back in XX/XX/XXXX. This report was sent to Capitol One as they are stating they have no record of the payment from XXXX XXXX. Capitol One now states that the report is not the electronic funds transfer report that they need and it does not state that the transaction was received by Capitol One. Per Capitol One, their payment team can not find a payment of the amount of the balance transfer, {$5600.00}, on or around the date it was supposedly sent. Capitol One states that since the report from XXXX XXXX shows no proof of receipt by Capitol One, it is possible that the transaction did not go through. Another complaint was lodged against XXXX XXXX on XX/XX/XXXX. They again sent the same form which Capitol One will not accept. I am still left with the balance on both cards.