Consumer complaint received 2022-11-01
Product: Checking or savings account — Savings account
Issue: Managing an account — Funds not handled or disbursed as instructed
Company: CAPITAL ONE FINANCIAL CORPORATION (WI)

{$14000.00} of XXXX XXXX XXXX ( our ) XXXX money is gone because of actions Capital One made. With Capital One we have a 360 Performance Savings Account open. We have been ACH transferring funds from our Capital One account to our XXXX Checking account with XXXX XXXX XXXX XXXX formerly XXXX XXXX XXXX XXXX 5 of those transfers did not make it to our XXXX account. Instead, the funds transferred to a XXXX account thats not associated with us. 

We did NOT authorize with Capital One a change in the XXXX account number that our ACH transfers should be sent to. Capital One shared with us on more than 1 occasion that they can see the change was NOT customer initiated. CAPITAL ONE incorrectly changed the XXXX account number to one that is not associated with us. 

Since XX/XX/XXXX we have been contacting both banks trying to find out how this error occurred & have the funds returned to our Capital One account. Weve inquired to Capital Ones General Customer Service, Customer Protection / Account Activity & Fraud departments dozens of times with no resolution. 

Capital One claims that in XX/XX/XXXX XXXX contacted them to give a new account number that our Capital One funds needed to be ACH transferred to. XXXX has researched this & has records ( that can be provided upon request ) proving that they did NOT contact Capital One on our behalf telling them to change the XXXX account number that Capital One was sending ACH transfers to. 

Capital One will not provide us with records proving that XXXX initiated the change in account numbers. We have been requesting this information for months. Each time we are told that the situation continues to be under investigation & there is no timeline for answers being given to us. Weve contacted them over & over again for status updates & keep getting different answers to our questions. Weve been told Im not sure why that last person you spoke with told you that because its incorrect & Well I guess the money is just gone then. Weve been hung up on, transferred to other internal departments that were closed for the day & received the worst customer service imaginable. 

Capital One needs to recall the ACH transfers they sent to the incorrect XXXX Account & return them to our Capital One account. Weve continually been told that they are working on it. 

The reason they cant recall the funds from XXXX is because the funds are no longer available in full ( or possibly none at all ). The party associated with the incorrect XXXX account number ( that Capital was sending our funds to ) has been withdrawing the funds that they received incorrectly. 

The appropriate resolution is for Capital One to immediately recall the 5 transfers individually. If there are any remaining funds available in the account, then they may be able to be transferred back to our Capital One account. Any additional funds that are not available for recall needs to be reimbursed to us by Capital One by depositing the remainder of the missing funds into our Capital One account. 

The timeline for this needs to include immediate action by Capital One to fully resolve our requests. Bottom line is they made an error & sent {$14000.00} of our money to the wrong XXXX account. Capital One needs to take ownership & fully reimburse us for the entire amount. 

We can provide additional details as needed, including trace numbers & the exact Capital One account numbers each transfer had been removed from. These are the dates of each transfer occurred & the dollar amounts associated. 

XX/XX/XXXX {$5000.00} XX/XX/XXXX {$3000.00} XX/XX/XXXX {$2000.00} XX/XX/XXXX {$4000.00} XX/XX/XXXX {$700.00} Thank you in advance for your time assisting us resolve this problem. If possible could you please share what actions can be taken by you to push Capital One to quickly reimburse us for the {$140000.00} they transferred to the wrong XXXX account number & what the anticipated timeline is. 

Capital One 360 Performance Savings Account XXXX XXXX checking Investigate a Misapplied Payment Capital One XXXX XXXX XXXX XXXX XXXX XXXX XXXX UT XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX, OH XXXX