Checking or savings account -- Managing an account -- Complaint #6372594
Complaint Overview
Complaint ID: 6372594
Company: Capital One Financial Corporation
Product: Checking or savings account
Sub-Product: Savings account
Issue: Managing an account
Sub-Issue: Banking errors
State: Pennsylvania
ZIP Code: 193XX
Date Received: 2022-12-28T12:00:00-05:00
Date Sent to Company: 2022-12-28T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
On XX/XX/XXXX I went to the branch location in King of XXXX, PA, to discuss why my bank statement was showing an interest rate of XXXX XXXX APY, while their current commercials advertised a rate of XXXX XXXX APY. The branch location representative called customer service to resolve the issue, and I was informed that I had a " XXXX Savings '' account, the only savings account offered back in XXXX when I initially opened my account. Now Capital One only offers " 360 XXXX Savings '' accounts to clients, which pays the XXXX XXXX APY. At no point was I ever informed of the existence of this new account and its superior interest, nor was I automatically rolled into the " 360 XXXX XXXX '' account. I have consistently maintained a balance of about $ XXXX, and, as such have missed out on thousands of dollars in interest. Their only solution is to now convert my savings account over to the " 360 XXXX XXXX '' account, where I can earn the interest going forward. Capital One has yet to give me a valid explanation for my concerns and refuses to resolve the interest discrepancy. As a client of that Capital One, I shouldn't have to shop around Capital One to ensure I'm receiving what is advertised. This is highly unethical of the bank.
Frequently Asked Questions
What is Complaint #6372594 about?
Complaint #6372594 was filed against Capital One Financial Corporation regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2022-12-28T12:00:00-05:00.
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.