Consumer complaint received 2025-03-18 00:00:00
Product: Checking or savings account — Checking account
Issue: Closing an account — Company closed your account
Company: CAPITAL ONE FINANCIAL CORPORATION
State: PA

Complaint narrative:
I initially called about opening a business banking account for my sons XXXX XXXX  in XXXX or XXXX. Ive had great experiences with Capital One in the past, and even though theres not a nearby branch, I thought Capital One would be a great bank based on the troops needs. Because there is no nearby branch, I asked if I could open the account online, and the person on the phone said yes. So, I attempted to do that, but the system wouldnt let me. I called back, and the person walked me through it, and I opened a business checking account according to the steps they told me to follow. A few weeks later, when I went to get checks, I noticed that the checks had my name at the top and then XXXX for the XXXX XXXX. Obviously, the XXXX XXXX doesnt want to have checks with my name on it, so I called again. I was told that this was not a problem, that the bank might need a little bit more information, but it would be taken care of within the week. That day, I got an email requesting that I sign to change the name on the account, and I filled it out immediately and returned it. Weeks went by, and nothing changed. Assuming what the representative had told me was true and everything would be fixed, I wrote a check from our old bank account to the new Capital One account for {$23000.00}. A few weeks later, I noticed that the check had not been credited to the account, even though it had been withdrawn from our other bank. Additionally, the XXXX name change had never been fixed. I received a letter stating that the check would be credited on XX/XX/XXXX, despite depositing it on XX/XX/XXXX. The money had been missing from our old account for all that time. So, I called back and spoke to no fewer than XXXX different people. I was transferred from business banking to personal banking, despite repeatedly stating it was a business account. At XXXX point, I was even transferred to Estates, where the representative was exceedingly confused because this is not a personal account and no one has died. Eventually, XXXX person told me that it looked like the account was scheduled to be closed because I had not submitted the requested paperwork ( I doubled checked my email and had in fact done so within minutes of receiving the request ), and that closure had gone through on the very day we were talking. This seemed very odd to me, but she transferred me to at least XXXX other people who confirmed that yes, the account was set to be closed. Multiple representatives told me that the account would be closed and, on XX/XX/XXXX, a check would be issued for the full balance, which would be the amount that was in the account already and the additional {$23000.00}. It is now XX/XX/XXXX, and neither of my business accounts, a savings and a checking, have been closed. Also, I recently got a check in the mail for {$1100.00}, but my online bank account is still showing an available balance of {$830.00} with the check as pending. Now, it has been nearly XXXX months since I deposited this check. The troop does not have any other money, we have expenses we can not pay for, and we could have been earning interest on that money for the last XXXX months. At this point, Capital One has held this XXXX XXXX  money for almost XXXX full months, and every time I call, they tell me something false, and we do not get our money back. Every time they say there is an investigator on the case and attempt to reach out to the investigator. Then they say the investigator is not answering so there is nothing they can do. Capital One is currently stating that I have not proven I am associated with the XXXX, but last week when they asked, I sent them my membership documentation from the XXXX XXXX XXXX XXXX stating my position with the specific troop. They said this is not sufficient, but when I asked what would be the representative said he " could not tell me that. '' Today, I got a notice from the bank that they have closed my personal checking and savings account. When I called they would not give me a timeline for when my personal funds ( about {$24000.00} ) would be returned.

Company response to consumer: Closed with explanation