Consumer complaint received 2022-11-25
Product: Checking or savings account — Savings account
Issue: Managing an account — Funds not handled or disbursed as instructed
Company: CAPITAL ONE FINANCIAL CORPORATION (MD)

Concern about it taking over EIGHT weeks to establish Power of Attorney for individual savings account that is part of a revocable trust at Capitol One Bank. 

Background : On XX/XX/XXXX, XXXX XXXX XXXX signed her Revocable Trust. A part of that trust was the Durable Power of Attorney assigning XXXX XXXX XXXX ( XXXX ) as the lawful attorney-in-fact. 
XXXX XXXX is now XXXX and in XXXX, living in a memory care facility. 
XXXX of the items in XXXX XXXX revocable trust is a savings account with Capital One. 

The problem : It seems that Capitol One requires a Fiduciary Agent form on file to put a name in addition to XXXX XXXX onto the account. XXXX XXXX submitted the necessary paperwork to have her name placed on the account on XX/XX/XXXX, and as of XX/XX/XXXX, Capitol One has still not completed the process for XXXX to have access to the account. 

XXXX  : XX/XX/XXXX : XXXX went to XXXX, MD, branch ( XXXX ) and worked with branch manager. Submitted banks XXXX XXXX form, copy of the Power of Attorney, and letters from XXXX doctors attesting to XXXX XXXX incapacity. 
Three weeks later : XXXX went to a DC-based branch ( XXXX ) only to find that XXXX  name had not been added to the account and rather than deal with it at this branch, XXXX was told to check with the person in the XXXX again XXXX The next day, XXXX went back to the XXXX to talk with the branch manager and asked to find out what was happening. 
XX/XX/XXXX : XXXX received a phone call from the XXXX manager who was following up on XXXX  request to find out what was going on. The XXXX manager was informed that she had to tell XXXX that she had to call the bank herself and was given a phone number to call. XXXX called and was told that the Power of Attorney materials were missing from her file. ( In checking with the XXXX manager, she said that she had submitted all of the materials at the same time. I believe her. ) XX/XX/XXXX : XXXX again submits the power of attorney. 
XX/XX/XXXX : XXXX receives an email from the Power of Attorney office saying that the XXXX XXXX form that they received was incorrectly filled out. The email contained a new copy of the form to fill out. ( The bank had redone the XXXX XXXX form in the last month or so and the paragraph with the erroneous information was not even included on this new form. ) XX/XX/XXXX : XXXX resubmitted ALL of the material ( XXXX XXXX for and another copy of the power of attorney ) to the Capitol One Power of Attorney Office via email and received a generic email response that they would be looking at it in the next 5-7 business days. 
XX/XX/XXXX : XXXX sent an email to the Power of Attorney Office to challenge the further wait since it was now seven weeks since the original submission and shouldn't that office make things right. XXXX received an email that stated We have a high number of cases, so please allow us 5 to 7 business days to respond. 

XXXX checked with the lawyer for the revocable trust in mid XXXX and XXXX was informed that as successor trustee you have that power no need for your name to be put on account.