Consumer complaint received 2025-01-27 00:00:00
Product: Checking or savings account — Checking account
Issue: Closing an account — Company closed your account
Company: CAPITAL ONE FINANCIAL CORPORATION
State: MD

Complaint narrative:
My husband and I have been a client of XXXX XXXX XXXX  since XXXX and rolled over to Capital One in the merger in XXXX. We have maintained a Small Business Checking, Personal Checking, Trustee Checking, and XXXX savings accounts with Capital One Bank. We also have maintained two personal credit cards and a small business credit card. 

On XX/XX/XXXX, I awoke from XXXX  to find out that my personal, my husbands personal, and our small business credit cards were closed without warning. I learned this as XXXX hospitalization recurring premium payment was declined, and they notified me. Of course, I reached out to Capital One Credit Card Services. I was told by XXXX that Capital One did not like the way I use my credit cards, the accounts are closed, and the decision is irreversible. It was almost as though I had done something horrible to the bank? 

I asked for more details and was told a letter would arrive by snail mail. The letter was also vague - we don't like the way you use your credit card. I asked to speak with a supervisor and was told that I had contacted the management team. I asked to speak with an executive and was told no. Please note that I have stellar credit and have rarely, if ever, been late to pay. 

This action seemed illogical to me. So, I put a message through the Capital One XXXX XXXX. I learned there was a complaint department. I e-mailed them and finally received another e-mail that stated, Capital One has observed activity on a past or present Capital One account that is not consistent with anticipated account activity. Again, no specifics, very, very vague. Who's account - my husband 's or mine? There had been no change in the way I used my credit cards in all of these years. I'm left to imagine what the issue is because they failed to communicate effectively. 

So, I filed a complaint with the Financial Consumer Protection Agency on XX/XX/XXXX, to get clarification. I assume that Capital One has noticed that we claim a lot of travel rewards. Capital Ones response the matter is under investigation. They were suppose to respond in 30 days ; the lastest is they need more time. Seriously, you cancel credit cards and don't know why after 30 days? I'm confident there is a basis for such a decision??? 

First, as a loyal client of nearly 50 years, Capital One should have communicated with me to warn me of the specific undesirable behavior and explained that this activity could lead to account closing. Im still baffled as to what the undesirable behavior '' or behavior not consistent with anticipated account activity could be. 

Second, a 30-day warning should have been provided so I could have time to apply for new credit cards and ensure payees were switched to a viable credit card. Instead, after XXXX, my husband and I spent the evening applying for new cards and updating recurring payment payees to use a different card. Thankfully I did have one other credit card! So much for being a loyal customer. 

After I filed the complaint with the Financial Consumer Protection Agency, I received several e-mails on XX/XX/XXXX, for each bank account held. I was told these were going to close effective XX/XX/XXXX. Again, the letters were very vague Capital One has observed activity on one or more of your Capital One accounts that is inconsistent with typical customer account usage. Again, I was using my account the same way I had for 50 years! 

I was visiting family in XXXX, AZ from XX/XX/XXXX, XXXX for the holidays. Obviously XX/XX/XXXX is a holiday. This literally left me four days to open six new accounts, redirect automatic debits and direct deposits. Opening a business account alone is a full day adventure. 

Several checks were outstanding. I was very concerned they may not cash in time, including big ones, i.e., Comptroller for the State of Maryland. I had to drive up to Maryland State Comptroller 's Office with a good check ( from my new bank ). The original Comptroller check did bounce and I was charged a fee of {$30.00} by Maryland. Capital One levied a charge as well -- I picked up the phone and customer service waived that fee. I had to ask my vendors to cash their check immediately - embarrassing since I do not bounce checks and maintain a stellar credit/payment record. 

At one point I called to discuss some procedural questions on account closure. I learned that several customers are in this predicament. 

Unfortunately, my grantor ( we are his trustees ) who is XXXX XXXX XXXX, highly XXXX, and on a very limited incomes trust account was also to be closed on XX/XX/XXXX. I reached out to the XXXX XXXX XXXX and XXXX ( OPM ) today to notify them of the new trust account which I opened. I learned that his direct deposit for XX/XX/XXXX has been issued and it could not be retracted. So, I called bank services and explained the situation. I asked that the account be extended until XX/XX/XXXX allowing time for him to receive his pension and us time to transfer the pension to his new trust account. 

I was told again there was nothing that could be done. I asked to speak with a supervisor and was told that I was on the phone with the management team. Finally, I obtained the address of the XXXX. I sent a letter. No response was received by the XXXX. However, the XXXX check did clear and I was able to transfer his funds accordingly to his new accounts. 

After 50 years, I would have expected to be warned about any activity inconsistent with anticipated account behavior and that continuance of this behavior could result in closing all of my accounts. I would have expected at least 30-45 days notice to allow me sufficient time to open new accounts and to let checks written clear and redirect automatic drafts and deposits. 

Capital Ones actions have led to severe stress for my husband and I as well as our trustee. We are close to retirement and highly ethical people. I had to work 12-hour days to get everything resolved before my travel and, when I returned. 

Was this retaliation for filing the original complaint? I learned that Capital One Bank is being sued because they failed to communicate to current clients that they had opened a new 360 savings account which garnered more interest. I am one of those clients who was not notified and lost interest over many years. Perhaps, they knew that and dropped me? 

The only option Capital One has left me is to speculate. The lack of specifics and details is unacceptable. 

Capital Ones treatment is reprehensible, irresponsible to account holders, and dismal customer service.

Company response to consumer: Closed with explanation