Checking or savings account -- Closing an account -- Complaint #4550661
Complaint Overview
Complaint ID: 4550661
Company: Capital One Financial Corporation
Product: Checking or savings account
Sub-Product: Checking account
Issue: Closing an account
Sub-Issue: Company closed your account
State: Florida
ZIP Code: 32312
Date Received: 2021-07-17T12:00:00-05:00
Date Sent to Company: 2021-07-17T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
On XX/XX/XXXX I called Capital One to close one of my savings accounts. I requested that the existing balance be transferred to my checking account. As part of the account closing process I was required to consent to Capital One reopening the account if there were any outstanding transactions. The customer service representative confirmed all of my data and there was no indication there would be any issue closing the savings account. On XX/XX/XXXX I was notified that a transaction in my checking account was declined. That is when I discovered that my checking account was closed instead of my savings account and the balance of my checking account had been transferred to my savings account instead. I immediately called Capital One to have this error corrected. The first customer service representative said there was nothing they could do. I was then transferred to someone else who explained that they would need to investigate my issue, review the recording of my call and the customer service representative 's notes, to verify that the error was Capital One 's and not mine. I was informed that this process would take up to 20 days. I was advised that if the error was Capital One 's that my account would be reopened. On XX/XX/XXXX XXXX received a follow-up email saying that Capital One had reviewed the issue and informed the customer service representative 's manager of the error. The email said that an account could not be reopened once closed. This is obviously a lie, since I was forced to acknowledge that Capital One would be allowed to reopen the account if they deemed it necessary. I replied to the email, and called the number on the email several times, indicating that this response was insufficient and unsatisfactory, and requesting additional follow-up. As of XX/XX/XXXX I have received no response to my repeated attempts to have this matter resolved. I am still dealing with the expense and inconvenience of my primary checking account being closed unexpectedly. That Capital One would acknowledge that closing the wrong account was their error, but do absolutely nothing to correct the error is unacceptable. I want my account reopened.
Frequently Asked Questions
What is Complaint #4550661 about?
Complaint #4550661 was filed against Capital One Financial Corporation regarding Checking or savings account specifically about Closing an account. It was received by the CFPB on 2021-07-17T12:00:00-05:00.
How did Capital One Financial Corporation respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Checking or savings account) and describe your issue in detail.
Can I see other complaints against Capital One Financial Corporation?
Yes, visit the Capital One Financial Corporation company profile at readthecomplaint.com/company/capital-one-financial-corporation to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.