Money transfer, virtual currency, or money service -- Other transaction problem -- Complaint #6417723
Complaint Overview
Complaint ID: 6417723
Company: Capital One Financial Corporation
Product: Money transfer, virtual currency, or money service
Sub-Product: Domestic (US) money transfer
Issue: Other transaction problem
State: New Jersey
ZIP Code: 07039
Date Received: 2023-01-09T12:00:00-05:00
Date Sent to Company: 2023-01-09T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Our law firm represents the Seller of real estate in New Jersey. As part of the transaction our trust account bank, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX was given wire instructions for a 1031 transfer agent, XXXX, XXXX ( " XXXX '' ) a customer of Capital One Bank ( " COB '' ). Unfortunately the wire instructions contained an error and as a result the funds entered the wrong Capital One account on XX/XX/2022. The error was discovered immediately and COB was notified by telephone and by the attached intra bank writing. We were told by the Treasurer Management Specialist XXXX XXXX ( # XXXX ) that an investigation would be launched " immediately '' but that resolution could take up to but not longer than ( 10 ) business days from XX/XX/XXXX. On or about XX/XX/2022 we were told by Capital One that the monies, {$61000.00} had been " frozen '' and that they would be returned to XXXX or transferred to the correct COB account shortly and that our law firm would be notified. Despite numerous attempts by our office, XXXX, and the office of XXXX, we have received no responses other than " we are working on it ''. It is now 14 business days after the investigation was commenced and the funds have not been returned or transferred to the correct account.
Frequently Asked Questions
What is Complaint #6417723 about?
Complaint #6417723 was filed against Capital One Financial Corporation regarding Money transfer, virtual currency, or money service specifically about Other transaction problem. It was received by the CFPB on 2023-01-09T12:00:00-05:00.
How did Capital One Financial Corporation respond to this complaint?
The company responded with: "Closed with monetary relief". 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 (Money transfer, virtual currency, or money service) 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.