Checking or savings account -- Managing an account -- Complaint #6667457
Complaint Overview
Complaint ID: 6667457
Company: Capital One Financial Corporation
Product: Checking or savings account
Sub-Product: Other banking product or service
Issue: Managing an account
Sub-Issue: Banking errors
State: Illinois
ZIP Code: 60527
Date Received: 2023-03-08T12:00:00-05:00
Date Sent to Company: 2023-03-08T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I am a long time XXXX XXXX Money Market Account holder. Rather than increase the yield on this account as capital one has done in the past ( current APY 0.8 % ), they rolled out a " new '' account performance 360 ( currently offering 3.40 % APY ), and did not adequately inform me of the differences and/or automatically upgrade my account to the new preferred rate. Either Capital One intentionally deceived a long term customer or was incompetent in there communications to the customers. A 2.6 % percent spread on ~ {$250000.00} is real money and their only recourse was to tell me to open the new account.
Frequently Asked Questions
What is Complaint #6667457 about?
Complaint #6667457 was filed against Capital One Financial Corporation regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2023-03-08T12:00:00-05:00.
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.