Consumer complaint received 2021-08-25 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: CAPITAL ONE FINANCIAL CORPORATION
State: LA

Complaint narrative:
On XX/XX/XXXX our business received a letter from Capital One stating that there was information that needed to be updated and they requested us to call a specific # to take care of this issue. They gave a reference # that was supposed to be mentioned when calling. The letter also stated that if this wasn't taken care of before XX/XX/XXXX - our account would be placed on hold and 2 weeks later if not resolved - the account would be closed. I thought this letter was very impersonal but made the call. The first call I made - I was on hold waiting to talk to someone for over an hour and ended up hanging up. I made 2 additional calls and still never got through - each call I was on hold for long periods of time. 

On XX/XX/XXXX I went to log onto my Capital One accounts ( we have 2 accounts ) and the accounts were gone from the online banking page. I later learned that they had been put on hold. I tried to call the number from the letter again and waited 1 hour and 57 minutes with no answer. I went to my local branch to see if they could help me and the local branch told me they couldn't help me and I would have to clear up this issue with the phone number listed in my letter. I finally got through to the number provided on the letter after 59 minutes of holding. The gentleman then asked me to verify basic information and asked if I was a signer on the account. I told him I was and he requested my current expiration date of my driver 's license and then told me that was all he needs. It took a few minutes and eventually my account was able to be accessed again and was on the online banking screen. 

A few days later ( XX/XX/XXXX ), we realized that we had not been getting our regular deposits from our XXXX XXXX. Apparently, during this time of the account being on hold, all deposits were denied and sent back to the Merchant Service Provider. We contacted the XXXX XXXX XXXX ( XXXX ) and they informed us that we needed a letter from the bank stating the account was open and in good standings before they could send the deposits back through. I have called Capital One and sat at the branch for over 2 hours trying to get this letter so we can receive our money. The branch told me they can't write such a letter and called people in a higher position. They ended up telling me all they could do for me was have me download a letter from the online banking screen. That same day, Monday, XX/XX/XXXX I forwarded that to the XXXX XXXX XXXX. This letter was a form letter and wasn't signed. The XXXX XXXX XXXX rejected the letter and Capital One has told me they will not give me another letter. I am working with the XXXX XXXX XXXX trying to figure out a way to get the money released. 

I am so frustrated and fed up with Capital One. When they put a hold on our accounts - we had almost XXXX XXXX dollars in the account. We tried to comply with them to call in and verify but to put a hold on our account for such a ridiculous reason and then not provide the information that we need to get the money deposited back into our account is very unprofessional. Again, if they needed to verify information - they had our phone number, address, email, many ways of communicating with us. And then if they did require a phone call - it's not appropriate to expect customers to wait over an hour on hold - or their account if frozen. Again, we are very good customers and have been for over 25 years. This is not an appropriate way to treat customers and very unprofessional.

Company response to consumer: Closed with explanation