Consumer complaint received 2023-01-29
Product: Checking or savings account — Savings account
Issue: Opening an account — Didn't receive terms that were advertised
Company: CAPITAL ONE FINANCIAL CORPORATION (CA)

On XX/XX/XXXX I responded to an advertised offer from Capitol One to open a new savings account and deposit {$100000.00} for a {$1000.00} bonus. 
A confirmation email was received. It did not state the terms of the offer. I received emails on XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX stating that I had 60 days to fund the account. 
I do not receive paper copies so I checked online to verify the terms of the account and offer. I did not see the offer terms listed. 
On XX/XX/XXXX I initiated a wire transfer for {$100000.00}. 
On XX/XX/XXXX I called Capitol One Bank to ask when the interest and {$1000.00} opening bonus would be added to my account. 
I was told the interest would be added at the end of the month, but that the bonus would not be added since the account was not funded within 15 days. 
I requested that the bonus be reinstated because I received three emails stating that I had 60 days to deposit funds. Since Capitol One does not 1 ) send email or letters confirming the offer and terms of the account, or 2 ) make this information available in the account detail online, I based my actions on the three emails I received. See below. 
I did not receive any email confirmation of the offer or the account term. 
Therefore, Capitol One 's actions are designed to mislead the customer into thinking they have 60 days to fund the account in order to get the bonus that was offered. I still do not know if I will receive the advertised interest rate either. 
Capitol One should 1 ) confirm the offer with the customer through email, letter, and on the online account. None of this was done. 
The emails mislead the customers into taking action that will deny them of the bonus terms that are advertised. Therefore, this is an unfair business practice. 
Other accounts clearly state bonus terms and expiration dates on the paper account statement and in the online account. ( example : XXXX XXXX ). Capitol One does neither, and actively misleads consumers, thus attracting funds through offers on terms that they are actively misleading customers against fulfilling. 
In addition, this occurred during a period when there were two federal banking holidays -- XXXX and XXXX XXXX 's XXXX. 
See the email received below, which references the 60-day term. The purported15-day term is not mentioned in this email or any other : Hi -- -, Youve already opened your Capital One 360 XXXX XXXX accounttake a moment to make your first deposit so you can start earning with one of the nations top savings rates. 

Theres no need to wait until you have a large deposit to get going, its easy to start with an amount that sets you toward your goal. Rememberif it isnt funded within 60 days of account opening, it will close automatically. 

You can add money in 3 ways : Check Deposit a check anytime, almost anywhere with mobile deposit. 
Direct deposit Automatically deposit part or all of your paycheck into your account. 
Transfer Transfer money by linking an external bank account to your account. 
-end- Thank you very much for looking into this. This a bait-and-switch offer that harms consumers. I am a fairly sophisticated money manager with a XXXX in XXXX and an XXXX, and if I was taken in by this, I imagine many others with less experience are as well.