Checking or savings account -- Managing an account -- Complaint #5024071
Complaint Overview
Complaint ID: 5024071
Company: Capital One Financial Corporation
Product: Checking or savings account
Sub-Product: Checking account
Issue: Managing an account
Sub-Issue: Deposits and withdrawals
State: California
ZIP Code: 90032
Date Received: 2021-12-19T12:00:00-05:00
Date Sent to Company: 2021-12-19T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
On XXXX/XXXX/2021, I was notified by email from Capital One 360 that my bank account was being restricted due to unusual activity. The email said, " We noticed unusual activity on your account ending in XXXX. For your protection, were restricting your Capital One Bank account ( XXXX ) until we verify some recent activity. A restricted account may prevent you from withdrawing money or completing pending transactions, though you can still deposit money. '' The next day on XXXX/XXXX/2021, I received another email saying I received a credit into my account, which said in the email, " This money is immediately available. '' However, this is not true as Capital One is refusing to lift the restriction from my account and is holding my funds XXXX by not allowing me to transfer my funds to an external account or use it in any way. On XXXX/XXXX/2021, I received another email about the restriction that said, " We're restricting your Capital One 360 account ( XXXX ) until we can verify your recent account activity. We may contact you to confirm this activity. Based on the results of our review, your account ( XXXX ) may be closed and your balance- plus all interest earned- will be transferred to your linked external checking account. '' This is also not true as they are not allowing me to transfer to an external checking account, and according to them the external checking account that was on file was removed from my account, even though I never removed it or asked Capital One to do so. After I received the first email, I called Capital One and instead of unrestricting my account, they made a decision to close my account after the claim is finalized because they said if my account was hacked or accessed by someone else it is " too much of a risk. '' There is not a risk of it being hacked if they allowed me to access my own funds over the phone as I have already verified myself by taking a live photo of my ID, yet they refuse to do this even though they have the ability to revoke the decision about restricting and closing my account. Capital One 's refusal to let me access or transfer my funds is causing a serious hardship for me. I can not wait weeks or months for them to close my account, I need these funds as soon as possible or I may lose XXXX XXXX XXXX XXXX
Frequently Asked Questions
What is Complaint #5024071 about?
Complaint #5024071 was filed against Capital One Financial Corporation regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2021-12-19T12:00:00-05:00.
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.