Consumer complaint received 2025-07-20 00:00:00
Product: Checking or savings account — Checking account
Issue: Closing an account — Funds not received from closed account
Company: CAPITAL ONE FINANCIAL CORPORATION
State: CA

Complaint narrative:
Throughout the time I had this checking account with Capital One ( XXXX ), I often used the XXXX feature to transfer money to and from friends. In early XXXX, I received XXXX XXXX payments from separate friends, both of which were received by XXXX, but a hold was placed on both. XXXX had done this previously, and maintains that this is due to a variety of reasons, but is done to ensure that the money will actually stay with XXXX, and that a claim on the transfer would not be filed by the sending party ( I had previously mentioned to XXXX how this process of securing the funds but not releasing them to the customer would potentially, in my opinion, lead to an increased number of claims being filed, as the sending party on their side sees the money leave their account, but the receiving party does not see the money in theirs, potentially leading to confusion and attempts to " undo '' the XXXX transfer ). In past situations, I was able to call XXXX and verify information regarding the transfers, along with providing a phone number for XXXX to contact the sender and have them verbally confirm and authorize the payment. On ( roughly ) XX/XX/XXXX, I called XXXX to verify the XXXX payments, to try to push them along, as XXXX indicated it would take over a week to actually receive the funds. Upon providing the contact numbers I had for my friends ( and the only phone numbers they had ever used ), XXXX informed me that the first friend did not answer their call, and that the number provided for the second sender could not be verified by XXXX, and therefore the only way that XXXX could allow this payment to proceed was for this individual and myself to come together to a financial institution in person, show ID, and authorize the XXXX. I took significant issue with this, as it seemed ridiculous to use a random XXXX party private phone number verification service to verify and conduct banking business, and the demand to physically come to a XXXX location, which are only located on the XXXX XXXX, was an impossible one. I told XXXX that I would not be able to do that, and would simply wait until the allotted time had passed for XXXX to feel secure in releasing the funds. In the meantime, in speaking with XXXX of the senders about the issues with the situation, they decided to instead use another transfer service to send this money, and would work out what happened with XXXX when they could. The next day, on XX/XX/XXXX, I received XXXX separate emails from Capital One regarding my checking account with them. The first indicated that my account had been suspended, in reference to XXXX of the XXXX  payments that I received from a friend. It said that a claim had been filed, and that XXXX was investigating my account, transactions, behaviors, etc. Shortly after that, I received another email, seemingly escalating this investigation, stating that my " banking behavior was significantly different from a typical user ''. I immediately called the number that was given, and was directed to what seems to be the fraud team at XXXX. I explained the situation, stated that I had called and went to great lengths the previous day to try to resolve this, and explained my confusion, as I had just spoken with both senders and maintained that there was no claim ever filed by either of them, and they were just as confused with everything as I was. XXXX proceeded to question/interrogate every aspect of my use of the bank account, in a tone that suggested I was someone who had just robbed a bank. Frustrated with this entirely, I asked for a supervisor, who provided no recourse to the situation, other than physically going to a XXXX bank location with both senders and verifying the payments. The supervisor stated that if I did not do this, that I would be investigated for fraud, and that XXXX would place a fraud label on my Chexsystems and XXXX reports. I told her that this was an absurd accusation for XXXX payments totaling {$130.00}, and hung up with the intention of cutting all ties to the bank. Another point to add is that during this phone call, XXXX stated that they had preemptively, and without regard to the results of their investigations into these XXXX XXXX payments, decided to close my account, and end the banking relationship. Several weeks later, after not receiving any update or contact, I again called the fraud department. This time, the XXXX stated that I simply needed to verify my identity, and instructed me to go physically to a XXXX location with my drivers license and social security card. They indicated that this did not have to be a banking location, but could also be a XXXX cafe. XXXX was located XXXX min away from me, in XXXX XXXX, so I considered doing so, simply to resolve this matter. The XXXX told me that so long as I did this and verified my identity, that XXXX would be able to help assist me with getting my account back. Surprised at this change in process, I agreed and travelled XXXX min to the location. Upon arriving and explaining my situation to the employee, they were just as confused as I was, seeming to have never had a customer interaction in which someone was verifying their identity. They took my documents and made a call to XXXX, and verbally confirmed to their team my identity. The employee was then instructed that my identity had been verified, and to tell me that they had already ended the banking relationship. Dumbfounded by the request to come in person to a location that far away to simply be told what I already knew, was to put it nicely, disheartening. The rep who helped me was very sympathetic, and told me that he did not understand the why or what of the process they had me go through, but assured me that as my account was being closed, per the rep he had called on the phone, that my funds in my account would be returned. After several weeks of not a single update, I made another call to the same contact number. I simply explained the situation, and asked for any update on the matter, as at this point I felt that XXXX was holding out returning my funds until I gave up. They simply stated that the XXXX was still working on it, that I could not be given any information, and that this was in regard to an Identity Theft investigation. I was once again surprised to hear this, And further questioned the processes and actions of XXXX, to which I was accused of attempting to defraud the customer service rep via phone. Several weeks after this call, I called again, only to be told there was no update, and to just wait. The amount in the account is {$130.00}, which is the XXXX XXXX payments plus XXXX cents. XXXX has an obligation to return these funds. I am requesting all allowable information regarding this investigation, and am further requesting all transcripts of calls made to XXXX. I am also submitting a personal data request as a resident of XXXX The bank does not have an unlimited amount of time to handle these matters. I simply want this resolved, as I feel I have been wrongfully labeled as fraudulent due to a flawed process mandated by the bank, and XXXX communication between all parties. I contest any accusation or consumer reporting of fraudulent activity, and am requesting explanation of my rights in regard to these potential accusations.

Company response to consumer: Closed with explanation