Consumer complaint received 2024-08-30
Product: Checking or savings account — Savings account
Issue: Managing an account — Funds not handled or disbursed as instructed
Company: CAPITAL ONE FINANCIAL CORPORATION (CA)

I initiated a transfer of XXXX from my XXXX XXXX  account ( joint account with my husband ) to my Capital bank account because my XXXX XXXX  account has had fraud activities in the past few months. After the last dispute with XXXX, they credited back the money to our account. 
On XX/XX/XXXX, before I initiated the transfer of XXXX, I called both XXXX XXXX  and Capital One Bank to ensure that I could safely transfer the money. Because I am in the process of the home purchase. I asked Capital One to ensure that the funds would be available to wire transfer to the title company on my closing day ( XX/XX/XXXX ). They promised that the fund would certainly be available. So I initiated the transfer, and then the money was deposited to Capital One on XX/XX/XXXX. 

Then on XX/XX/XXXX, Capital One told me that my accounts were frozen. I called the number provided on the bank website, they simply told me COLDLY that they are ending all financial business with me, because there is a recall on that $ XXXX transfer, and I won't get the money back until they finish the investigation. They also said that the money will go back to its owner ( who I am ). But I told them that the XXXX XXXX  account was closed due to fraud activity, then they won't say what is going to happen. I asked them which bank initiated this recall. They wouldn't let me know but asked me to find out myself. 

Both I and my husband spent more than 6 hours calling XXXX and Capital One to figure out the issue. XXXX ensured told us that they didn't initiate the recall, though they could see the recall activity. XXXX and Capital both mentioned that XXXX XXXX has something to do with the recall. So we also called XXXX XXXX and were told that we have no accounts associated with XXXX XXXX and they won't initiate recall on our bank accounts in Capital One. We called capital one bank to let them know all these information, they only reply to us that we will have to wait for the investigation, treating us like criminals for money laundry. 

This morning on XX/XX/XXXX, I called early in the morning to ask for any updates, and told them all the information I acquired from XXXX and XXXX XXXX on my case, then I told them I could upload a supporting document showing the source of the fund, and transfer confirmation receipts. Then they told me that they hadn't even created a reference number for this case, so I couldn't even upload anything for my case. When I asked them how long it would take to do the investigation, even creating a reference number, they told me I would just have to wait, leaving me frustrated. 

Now both me and my husband are desperate because if we don't have our money on time for closing on XX/XX/XXXX, we will lose our XXXX XXXX deposit, we broke the lease with our apartment to move out soon, and we have XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX ), we will soon be homeless. We told Capital One about our situation but received no further assistance. They still simply said that I would have to wait for their investigation, which is not happening right now.

If Capital One Bank hadn't ensured that my money would be safe and available when I needed to pay my downpayment, I wouldn't have transferred the money to them at all. This is the worst experience I ever had with banks. They do not help customs to solve their need in time, and everything went differently from what they promised when I initiated the transfer. And they show no sympathy for their customs when they put them into desperate situations. 

Every time, they would say have a great evening or weekend when they decided to take a break. I know they said that due to their trainings, but the way they say it sounds like they want us to hang up so they can get rid of us. I wonder if they really think anyone could sleep or enjoy the weekend in a situation like us when they know that their money is not in safe hands.