Checking or savings account -- Managing an account -- Complaint #5194870
Complaint Overview
Complaint ID: 5194870
Company: Capital One Financial Corporation
Product: Checking or savings account
Sub-Product: Checking account
Issue: Managing an account
Sub-Issue: Problem making or receiving payments
State: New Jersey
ZIP Code: 07731
Date Received: 2022-02-07T12:00:00-05:00
Date Sent to Company: 2022-02-07T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
On XX/XX/XXXX, I made a purchase from XXXX through my checking account with Capital One. Please know the following facts, because I have direct deposit, Capital One allows access to my funds, 2 to 3 days before my actual pay date. In this scenario, I get paid on the last day of the month, which would have been XXXX. I made several purchases on XX/XX/XXXX that posted to the account by the XX/XX/XXXX and the funds were removed from my available balance. The purchase was presented to Capital One on XX/XX/XXXX and posted to account by XX/XX/XXXX. On XX/XX/XXXX the {$590.00} was removed from my available balance. Today, the XXXX seller refunded my transaction in the amount of {$590.00}. Today to my surprise, in my Capital One account it states that I had a purchase that posted today in the amount of {$590.00}. Capital One has removed these transactions from the log. When I called Capital One they stated the purchase I made only posted today. When asked where did the money go that was removed from my daily balance, they said that the transaction today was actually a credit and would be posted to my account in 10 days. This was the same information that XXXX said I should see a credit in 10 days. The issue is that this transaction caused a negative balance in my account. So I have direct deposit in this account, what will happen they will clear the negative take the XXXX again which will make three times and only give it back to me in 10 days? This is a XXXX XXXX XXXX, I am out of {$590.00} twice right now. XXXX states that they have proof that the money was refunded, Capital One says the transaction was a refund, that will not get posted to my account till 10 days, in the meantime the negative XXXX represents the original transaction posting.
Frequently Asked Questions
What is Complaint #5194870 about?
Complaint #5194870 was filed against Capital One Financial Corporation regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2022-02-07T12:00:00-05:00.
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.