Consumer complaint received 2023-11-25
Product: Checking or savings account — Savings account
Issue: Opening an account — Unable to open an account
Company: CAPITAL ONE FINANCIAL CORPORATION (NY)

I am writing this complaint 7 months after my previous complaint ( Complaint ID # XXXX ) as the issue is still unresolved. On XX/XX/XXXX, my account was restricted, and subsequent calls revealed suspicions of fraudulent activity. The closure was linked to multiple transfers from my external checking account, which were reversed by my external bank. Despite my attempts to provide information and cooperate with the investigation, I was met with a scripted response, and relationships with Capital One were severed due to perceived suspicious activity. CapitalOne responded to my complaint on XX/XX/2023, and stated that I deposited two amounts totaling {$4000.00}. They then stated that these deposits were reversed by my external bank due to " unauthorized corporate debit ''. They said that due to this reversal, my external link between both banks was deleted. After this my link was added once again and another transfer of {$2000.00} was initiated which was also reversed due to unauthorized corporate debit, leading to their decision to end relationships with me and close my accounts indefinitely. My simple explanation for the amount of {$4000.00} being reversed is that it was the wrong amount. However, I didn't intend to deposit {$4000.00} as I accidentally transferred an amount similar to {$2000.00} twice because I was under the impression that the first one was canceled. I falsely believed it was canceled as I was still in the process of completing the external link, which involved receiving a small payment and stating that exact amount to the bank. This was the reason that the first payment totaling {$4000.00} was the wrong amount ( intended to be an amount similar to {$2000.00} ) and it had nothing to do with any suspicious activity, just an honest mistake. I shouldn't have rushed the transaction although I believe being XXXX XXXX XXXX and this being my first real banking transfer is a good excuse and I will ensure I am more responsible in the future. I am still unaware of exactly what " unauthorized corporate debit '' entails but I can easily prove that I authorized the transaction and that I was the owner of both the XXXX XXXX XXXX XXXX and the CapitalOne savings account in question if that is the issue. Regarding the second transaction being reversed, I am still completely confused as to why the second transaction was reversed as it was the correct amount and I definitely had that amount in my external account. I will fully take the blame for the first transfer being the wrong amount, however, the second transaction 's reversal was unwarranted which was the reason my accounts were closed indefinitely. I am willing to provide any necessary documentation, such as bank statements, to confirm the legitimacy of my actions and clear any doubts. As an innocent young man who was simply inexperienced with finances, I am seeking a thorough analysis of the situation to avoid any potential negative impact on my banking history. After careful review, I understand the importance Capital One places on fraud prevention, however, I believe there may have been a misunderstanding regarding the circumstances that led to the closure. The issue appears to simply be a misinterpretation regarding reversed transfers from my external checking account, which I will diligently attempt to rectify. I would like to reiterate my commitment to the security and policies of Capital One. Upon further reflection, I realize the value of my relationship with Capital One and am hopeful that a reconsideration of the account closure can be facilitated as I plan to use CapitalOne as my primary bank in the future. It stands out as the most convenient bank for me, perfectly aligning with my upcoming internship 's location and overall banking needs. Prompt attention to this matter is highly appreciated, and I look forward to resolving this situation amicably.