Consumer complaint received 2024-04-18
Product: Checking or savings account — Checking account
Issue: Closing an account — Funds not received from closed account
Company: CAPITAL ONE FINANCIAL CORPORATION (TX)

On XX/XX/year> I received an email from Capital One Bank regarding my account with them, that my account was under investigation and it will be closed, so I called and the customer service representative of Capital One Bank said my account is under investigation due to some transactions that occurred on my account which I confirmed those transactions were legit and done by me. I was then told to wait till the investigation is concluded and so I did, but on XX/XX/year> I noticed there was money transferred from my closed savings account into the checking account linked to it ( that was affected and closed along side the checking account ) in the amount of {$2700.00}, so I sent an email to " XXXX '' to request why my funds were transferred from savings to checking. After Capital One Bank transferred some funds from my savings to checking the amount in my checking account came to {$6800.00} and in my savings {$7200.00} and this sum up total came up to {$14000.00}, on XX/XX/year> the funds in my checking account in the amount of {$6800.00} was withdrawned and on XX/XX/year> the funds in savings account in the amount of {$7200.00} was also withdrawned. I called Capital One Bank to know what happened and get answers to who withdrew the funds from my account. I was then told if an account is closed and not to be reopened that the funds will be withdrawn likely to be sent as a check to me after investigation is concluded. I kept calling Capital One Bank after that but I sometimes was told the investigation is still ongoing but I called XX/XX/year> and I was told that further investigation showed that the issue with my account was because of the second draw XXXX XXXX XXXX funds that was deposited into my account and I was told to get a " hold harmless release '' from the bank that XXXX XXXX XXXX deposited the XXXX funds through initially. I contacted the bank that XXXX approved the XXXX funds to give me the " Hold harmless release form '' and I was told there is nothing like that. I even contacted XXXX to ask if they knew anything about what XXXX XXXX Bank was saying but I was told they do not have any issue with my second draw XXXX application. I called XXXX XXXX Bank back and I was told the funds has been sent to XXXX XXXX near me. I asked for direct contact to where my money was sent to but I couldn't get any concrete answer. I googled and called XXXX offices around me to ask if any funds was sent back to them on my behalf but unfortunately I was told " NO ''. So I called XXXX XXXX Bank again but I was getting run around, I requested to speak with a supervisor but no concrete answer or solution and everytime I called after then it is either I am on hold for hours, transferred around different departments and most times get hung up on. I exhausted all my options with the bank and I need my funds because this was a loan that was meant to help me as a Sole Proprietor/independent contractor during the pandemic and so this is a loan I have to pay back to SBA. It is sad enough that the funds was taken from me at a very difficult time for everyone but having to pay back the funds I didn't not even have access to is alarming. So I am requesting for CFBP to look into this and Capital One Bank to release my funds. Thank you.