Money transfer, virtual currency, or money service -- Other transaction problem -- Complaint #14352413

Complaint Overview

Complaint ID: 14352413

Company: Capital One Financial Corporation

Product: Money transfer, virtual currency, or money service

Sub-Product: Domestic (US) money transfer

Issue: Other transaction problem

State: Arizona

ZIP Code: 85212

Date Received: 2025-06-28T12:00:00-05:00

Date Sent to Company: 2025-06-28T12:00:00-05:00

Company Response: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A

Submitted Via: Web

Consumer Narrative

Saturday XXXX, XX/XX/2025 I opened a new Capital One Account to hold my funds as they offer a much higher interest rate vs XXXX. I initiated a ACH transfer of {$41000.00} and allocated them to my savings, my wife 's savings, and an Emergency fund account. Monday XXXX, XX/XX/2025 I opened a Capital One checking account as I realized I did not want to have to wait a week to transfer funds between banks should an emergency arise and can immediately transfer money through XXXXXXXX XXXX XXXX transferred myself {$10.00} from my XXXX Checking Account to my Capital One Checking Account to verify it was working. Friday XXXX, XX/XX/2025 I received the funds I had transferred from my XXXX Account. I transferred myself {$1500.00} through XXXX from my Capital One Checking account to my XXXX Checking account to purchase Money Orders from XXXX to pay fees for a government application. I do not yet have a Capital One debit card, so I was using my XXXX debit card for the transaction. When I tried to send myself some more money ( still within the daily limit of allowance ) as I had miscalculated the amount I needed to purchase the money orders it would not allow me as it detected fraud. I called Capital One on that same day around XXXX for support to release my funds as I was at XXXX XXXX to purchase my money orders. They said I had to wait 24 hours as it had been flagged as risk of fraud. I had to borrow money from my sister to complete the transaction. XXXX XXXX, XX/XX/2025 At XXXX I tried to XXXX transfer myself from my Capital One account to my XXXX account to verify that there was no longer a restriction - it was still restricted. I tried to send money directly to my sister ( to pay her back ) from my Capital One account through XXXX and the transaction went through. I called XXXX Capital One to figure out what was going on, I spoke to XXXX and she said there was nothing Capital One could do as they were following the security policies of XXXX and I had to wait another 24 hours with no promise that anything would be fixed. I asked for a reference or something to keep a record of our conversation should XXXX say it had nothing to do with them and they direct me to call Capital One again. She said there's no reference but mentioning " Fraud Risk '' should help get us on the topic of my inquiry. I called XXXX customer service at XXXX to verify myself and my account to drop this hold and spoke with XXXX XXXX She insisted XXXX can not do anything with XXXX XXXXXXXX and whatever security holds exist between them. I said this is absurd and that XXXX told me Capital One was following XXXX 's security protocols and that XXXX should be the one to help verify and go through necessary steps to release my account from fraud. XXXX said I need to call Capital One back and speak with the designated online banking " XXXX XXXX '' which does not exist, to get help with my issue. I called Capital One back at XXXX and spoke with XXXX and explained everything that transpired with no new news. She admitted there is a " security system '' in place between Capital One and XXXX for " suspicious '' activity with no designated person to speak with should the security system be wrong in deeming fraud or legitimacy. I asked her to send feedback for improvement on their systems as if there was an automated verification system as XXXX does for large sum transactions through a text message confirmation, I would not have this issue. I was chasing someone to speak with to verify that my transactions are indeed not fraud and that it is unacceptable that my money is not available to me. I am now liable for an account management fee of {$12.00} through XXXX as my daily funds in my checking account are less than {$1500.00}. A liability that could have been avoided and I had sought to avoid by spending hours speaking to Capital One and XXXX in circles. I left the conversation with there is no real system in place investigating nor verifying whether a transaction is fraud or not and I am locked out of accessing my own money with blanket statements of " wait 24 hours and it SHOULD be fine ''. This is unacceptable ; especially if I am liable for fees.

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This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.

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