Consumer complaint received 2025-01-16 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Banking errors
Company: CAPITAL ONE FINANCIAL CORPORATION
State: NJ

Complaint narrative:
Subject : Formal Complaint Regarding Capital One Account Access Issues and Interest Rate Misrepresentation XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXX/XX/year> To Whom It May Concern, I am writing to formally address multiple issues I have experienced with CapitalOne Banking institution, which have caused significant disruption to my business operations and financial standing. These matters pertain to prolonged inaccessibility of my business checking accounts, misleading information regarding interest rates, and inadequate customer service. I request your immediate attention to resolve these issues and provide appropriate compensation for the inconvenience and losses I have incurred. 
Issue XXXX : Inability to Access Business Accounts Since XX/XX/year>, I have been unable to access my Capital One Business checking accounts via your online banking platform. This issue involves a substantial amount of money used for conducting business transactions. Upon realizing this problem, I immediately contacted your customer service. After a long hold time, I was transferred to an international representative who was unable to view or provide any information about my balances.

I was reassured that my funds were safe and that the issue would be resolved overnight. However, the problem persisted into the following day. This morning, I again called customer service to address the continued inaccessibility of my accounts. I was informed that there was a nationwide computer glitch at Capital One affecting business accounts. When I again requested my Capital One business account balance, I was told by the representative they could not provide this information. This left me with no alternative but to travel to my local branch. This provided further disruption to my business activities and loss of time. Despite sufficient time for Capital One to identify and address this systemwide issue, no notification was provided to affected customers. Instead, I was forced to discover the problem on my own, exacerbating the inconvenience and frustration. 


This forced me to lose valuable business hours to visit my nearest branch, which is a 30-minute drive from my location. At the branch, I was again informed that this was a system glitch and that other business account holders were similarly affected. When I requested a large withdrawal, the branch staff could not confirm the accurate balance of my account, and I had to provide my account number. This lack of accurate account access and failure to resolve the issue promptly is unacceptable and has severely impacted my ability to conduct business and my relationship with my business partners. 
Issue 2 : Misrepresentation of Interest Rate Opportunities I have also discovered that I have been misled regarding the interest-earning potential of my accounts. Specifically, I was not informed about the XXXX XXXX XXXX account, which offers a higher interest rate than my current XXXXXXXX XXXX XXXX XXXX accounts. As a longstanding account holder, I find it unacceptable that I was not notified of an opportunity to earn more interest on my savings. This lack of transparency and misrepresentation has resulted in financial losses. 
Requested Resolution Given the seriousness of these issues, I request the following resolutions : 1. Immediate Access Restoration : Ensure uninterrupted access to all my business and personal accounts. 
XXXX. Financial Compensation : Provide compensation for the losses incurred due to account inaccessibility, including missed business transactions and time spent resolving these issues. 
XXXX. Restitution for Interest Losses : Address the financial discrepancy caused by not being informed about the XXXX XXXX XXXX account. 
4. Inclusion in Class Action Lawsuit : I wish to be included in any ongoing or forthcoming class action lawsuits against Capital One regarding these issues.

Closing Statement These experiences have greatly eroded my trust in your institution. I expect a prompt and satisfactory resolution to these matters. If I do not receive a timely response, I will consider escalating my complaint to relevant regulatory authorities and pursuing legal action. 
Please respond within 14 days to confirm receipt of this letter and outline the steps you will take to address my concerns. 
Sincerely, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX

Company response to consumer: Closed with explanation