Consumer complaint received 2025-06-28 00:00:00
Product: Checking or savings account — Savings account
Issue: Opening an account — Didn't receive terms that were advertised
Company: CAPITAL ONE FINANCIAL CORPORATION
State: PA

Complaint narrative:
I opened Capital One 360 Performance Savings and 360 Checking accounts on XX/XX/year>, in response to their promotional offer promo code XXXX at XXXX : XXXX which promised tiered bonuses based on external fund deposits made during a 15-day Initial Funding Period. 

The promotional terms clearly stated : - {$1500.00} bonus for deposits of " {$100000.00} or more '' of " new money deposited from an external bank '' - {$750.00} bonus for deposits of " $ XXXX {$99000.00} '' - {$300.00} bonus for deposits of " $ XXXX {$49000.00} '' - All deposits must be maintained for 90 days following the Initial Funding Period I fully complied with all advertised requirements : - Deposited exactly {$100000.00} from external sources within the 15-day funding window - {$500.00} via ACH transfer from my external credit union account to Capital One 360 Checking, then transferred to 360 Savings on XX/XX/year>, within the 15-day period - {$99000.00} via direct wire transfer from my external credit union directly to 360 Savings on XX/XX/year> - Maintained the complete {$100000.00} balance from XX/XX/XXXX through XX/XX/year> ( 90 days ) On XX/XX/year>, Capital One credited only {$750.00} ( middle-tier bonus ) instead of the promised {$1500.00}. When I called customer service twice for clarification on XX/XX/XXXX, representatives consistently stated that the {$500.00} from my credit union was disqualified because it passed through 360 Checking firsteven though it originated externally and arrived in savings within the required window. 

Capital Ones reasoning is misleading and unfair because : 1. The promotion terms do not state that funds routed through another Capital One account lose qualifying status 2. The source of funds was external the same credit union for both the ACH and wire transfers 3. The term " new money from an external bank '' is undefined in the offer, leaving it open to reasonable consumer interpretation 4. By crediting the {$750.00} bonus, Capital One concedes my eligibility while applying an undisclosed technical rule to deny full eligibility Beyond the {$750.00} withheld bonus, I also lost saferate interest. Over 90 days I earned approximately {$890.00} in my Capital One account. Had I kept {$100000.00} in a top-rate high-yield savings account at a minimum of 5.00 % APYa conservative, publicly available benchmarkI would have earned about {$1200.00}, a minimum opportunity cost of {$330.00}. Combined with the withheld bonus, the total financial impact exceeds {$1000.00}, stemming from an undisclosed routing restriction. 

I am requesting that Capital One honor the full {$1500.00} bonus as advertised. I deposited {$100000.00} of new external funds and held them for the required duration. The promotion terms do not disclose or define any routing restriction that would disqualify a portion of those funds. Denying part of the bonus based on this internal rule is misleading and inconsistent with fair marketing practices.

Company response to consumer: Closed with explanation