Capital One Checking Accounts

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I am transferring my hard earned money somewhere else
Posted by on
I'm glad I do not need the money right away! I deposited a check in my Capital one checking account. The check that I deposited actually came from my other account in another bank, so I know that Capital one took the money out of my other account the very next day. Four days after, it is still pending. I understand that out of state clearing or second endorsements takes time, but mine is local. I have other checking/savings account from other banks, and local clearing/fund availability is mostly same day or next day. The customer service representative that I talked to kept on calling me Mrs... despite me telling her several times that I am unmarried, so therefore I am "Miss so and so..." I know this is not about money, but that reflects the kind of attention they give to their customers! I am a depositor, I wonder how borrowers are treated. Then I was transferred to someone who "knows better" and I was on hold forever. The one who "knows better" just told me that Capital one has yet to verify from my other bank if I have available funds. They already took my money 4 days ago!!! I am staying away from Capital one from now on!
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goduke on 05/07/2010:
When I paid off my Capital One credit card, it was through a EFT from my bank to theirs. Despite the fact that an EFT is pretty much immediate transfer, they held the payment in a pending status for 10 days. Seems they think that's a really clever thing to due to their customers. Probably good that you are bidding them adieu.
skelly39 on 05/07/2010:
Capital One, about 70% of the time, has been pretty decent to me. The other 30% of the time, they have arbitrarily changed their rules on posting times, holds and everything else. If a big bank treats you like dirt, and they usually do, find a small one or a credit union who at least pretend to give a rip about you as a customer.
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Capital One has terrible customer service. Terrible to deal with.
Posted by on
Rating: 1/51
NUTLEY, NEW JERSEY -- First, I have "opted out of overdraft protection" on my checking account, which should mean that if I don't have enough money in my checking account, the transaction is rejected (which is what I want)

Second, I still get whacked with overdraft fees a couple times a year, even though I've "opted out" at least 4-5 times in the past 5 years.

Third, They flat-out refuse to reverse the bogus fees because of fictional "technicalities". (Once they told me that the "opt out" doesn't apply to weekends.... another time, they said it doesn't apply to credit transactions, only debit) Seriously, guys?

Fourth, I have a savings account with them that has never gone below $3000. They refuse to link the savings account to the checking account and simply take the "overdraft" from my savings account.

They are a terrible bank to deal with.
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trmn8r on 05/30/2012:
I believe overdraft "opting in" only applies to debit transactions, as you were told.

If they don't advertise that savings and checking accounts can be linked, then it makes sense that they can't link them. On the other hand, if they do, then you are owed an explanation.

I've been hit with only a few overdrafts in my life. Now I keep a buffer in my checking account to accommodate debits I may have forgotten are rolling in. Saves me money and is a lot less stressful.
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Customer service sucks
Posted by on
Capital one bank sucks. They do not credit your ATM cash deposits immediately as displayed on your receipts. Be careful because the false balance after your deposit may cause overdraft fees. They also post your transactions a day later in order for you to incur overdraft fees. I spoke to Amanda in customer service but she insisted on her rant of deceit and lies. She told me to got to the branch!!!!! So much for her service!!! Hello Amanda, the branch is closed that's why I unfortunately had to call you !!!! I guess the extra fees they charged me keeps you and your rude subordinate employed!!!! You would think with the high rate of unemployment we could hire more diligent and competent workers!!! Shame On you and your group for swindling customers out of their hard earned money. Your ATMs and systems are so antiquated that even online transfers that should be credited immediately are held for a day!!! And of course after keeping me on hold for 35 minutes, Amanda still Gould explain the reason my online transfer wasn't available!!!!
Capital One shame on you and Amanda !
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Alain on 09/23/2011:
Perhaps go to the bank and let them know why you're taking your business to another bank.
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Missing Large Deposit
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Because of my moving the nearest Capital One branch is now 50 miles away. I made the mistake of mailing in a $2600+ tax refund check (from a 2008 return that they found errors in my favor) and here it is three weeks later and no deposit posted. I contacted them through the secure email service and they said they never got it and they could not help. Then I called customer service and after some checking was told that it might show up in a couple weeks, because the mail is usually rerouted to the main branch then when they see it is a deposit they send it to the local branch.

My mistake for mailing in a deposit - definitely. But a further mistake would be to continue banking with Capital One.
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Skye on 04/08/2011:
Contact the IRS about the missing check, and as for the other personal check, put a stop payment on it. If they never received it, it may be lost in the mail.

getoverit on 04/08/2011:
You didn't say anything like you think Capital One got the check and just aren't crediting your account, or anything like that. So, I'm not understanding why you blame the bank.

I would have thought you'd take that check and open another account at a more convenient bank and then transfer you Capital One account into it. Failing that, you could have sent the check in certified with a return receipt. That way, you would have been able to track it and verify when they got it.
trmn8r on 04/09/2011:
I think you are correct in assuming that mailing the check would result in a prompt deposit, unless you called first and asked what address to mail it to. And it may likely be hard to track if it was forwarded to another office.

If they said it may be in their system, I wouldn't ask for a stop payment yet. That check should be able to be replaced if someone were to fraudulently cash it.

I see often where people don't have a branch near them. I don't know what I would do if I didn't have one nearby - it would make life more difficult, that is for sure.
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Major Rip off bank!
Posted by on
BALDWIN, NEW YORK -- I opened up a Capitole one account In Dec.2010 by Jan 2011 I started getting random charges to my account as if someone was using my debit card, but I had it in my pocket the whole time, they withdrew money from my account without permission or any authorization, literally every time I made a deposit, at first they charged me 49.95 I went to my branch to dispute it and got it back adventually and a new debit card, my next deposit they withdraw $29.95 and show me a check as if I wrote it but I know I am not crazy and I have not written out that check and the strange thing is there was no say and no signiture required, now that they took all I had left to live off of, they charged another $10.00 to over draft my account even though I opted out. I call customer service to make a long story short Capitalone is nothing but a scam!
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momsey on 01/24/2011:
Who was making the charges? Did you report the thefts to Capital One? Did they assist you in changing your account number? Did you submit a police report for the thefts? I don't see how you could be complaining about Cap One at this point.
Anonymous on 01/24/2011:
If your money is being taken out by someone other than you, all banks/credit unions will investigate and return the money to your account pronto. Talk to your bank and make sure they understand the money was removed from your account by someone else.
leet60 on 01/25/2011:
Actual "signatures" have not been required on checks for some time now. Many merchants will take your check, scan it or enter the account and routing information and payment amount and hand your check back to you. This is known as an E-check. It is used commonly online. My local grocer and Walmart use this method.
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Closed Account?
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NEW ORLEANS, LOUISIANA -- Two months ago I closed my personal checking account at Capital One. When I closed my account the teller made no mention that the bank would only put the account on hold for ten days and any checks or debits outstanding would re-open the account.

Unfortunately for me I had forgotten about a check written to my yoga instructor two weeks prior to closing my account. After I closed my account she cashed it - thus re-opening the account and racking up a 30$ overdraft fee and another 5$ per day that the debt was outstanding.

All the while this is happening I am moving from New Orleans to Chicago. I have no idea. My husband and I take some time to visit his grandma and parents on the east coast. But 110$ in fees later I finally get a letter at my mothers house telling me they have closed my account (finally - two months later!) and they are turning my debt over to a collection agency and reporting the debt to a credit agency. Great.

I have been burned before by their secretive banking policies (like when they dated a check to my account the DAY before I wrote it causing a landslide of overdraft fees.) I happily took the 20% off the collection department offered me just so I would never have to deal with them again.

I feel that I should have never been charged the fees in the first place since I was no longer even a customer of theirs and second why not just let the check bounce?! I am sure my yoga instructor would not have charged me 110$ in fees and turned me over to a collections agency.

I understand the ten day period is a law (finally found that out through the collection department) but is this still my fault if I was not informed? Who even cares - avoid Capital One like the plague.

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Anonymous on 10/25/2007:
"I had forgotten about a check written to my yoga instructor" Nuff said. If you don't think you should be responsible for your debts, let them return it 'Account Closed' and explain it when a sheriff shows up at your door.
As I have said before, you ought to have to pass a common sense test before you are allowed to have a checking account.
Anonymous on 10/25/2007:
KenP, if people could pass a common sense test they would not get a checking account in the first place and you can't take yoga at your age.
Principissa on 10/25/2007:
You should never close an account until all checks are fully accounted for. Unfortunately you are ultimately responsible for the fees incurred due to your lack of attention in your check register. A simple once over would have showed you that you had a check going to be paid out of that account and would have prevented you all these fees.
FoggyOne on 10/25/2007:
"I have been burned before by their secretive banking policies (like when they dated a check to my account the DAY before I wrote it..." Banks don't process checks until they get them, they do not have some gnome sitting there pulling checks at random and posting them days before they got them. I think what happened is you post-dated a check (which is technically illegal but nobody cares) and who ever you gave it to cashed it before the date on the check. Also, banks don't check dates on the checks - they get a check, they process it. It does sound quite unreasonable to be charging $5 a day though.
Slimjim on 10/25/2007:
Don't people close accounts when fraudulent or unauthorized debits are suspected? Why would Cap 1 honor a check on a closed account is beyond me. Whenever we deposited a check from a closed account, it would be returned. We were SOL and had to go chase down the bad payer. Did they even pay Yogie's check or just return it and hit you with the fees for it being presented? Either way, that account was closed and I wouldn't pay those fees. You do need to take care of the Yogie though.
Anonymous on 10/25/2007:
Closed account means just that - closed, right ?
Good luck.
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Posted by on
DALLAS, TEXAS -- I deposit two checks and still they hold my money I called them and asked about why still is pending they said we can hold your money from one to ten days that's the way, that they make money playing with customer money
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Anonymous on 06/25/2010:
After a not so easy search on their website and an uncooperative computer, I finally found the Capital One rules for check deposits. Summary is that checks generally are available 1-2 business days after your deposit. In extreme cases, which they detail at the link I will provide, the check can be held for 5 days. Nowhere does it say 10 days. They are lying to you. Go back and tell them you want your money now.

The rules can be found under "Deposit Availability Disclosure" Paragraph 2.

goduke on 06/25/2010:
Nice work, Judge! You are in the running for the "Best Research of the Day" award.
Anonymous on 06/25/2010:
I'm bored so nothing is too much today.
MRM on 06/25/2010:
I understand, Judge. You cannot do anything outside as it is hot, hot, hot!
Anonymous on 06/25/2010:
Yes it is.....610pm right now and it's still 33c. Forecast for the next 5 days is 35 and 36c everyday. Supposed to be rainy season and cooler temps right now but no rain and not very cool.

fyi.....33c is 91F so it's hot.
Obsfucation on 06/25/2010:
Actually, the funds CAN be held longer under certain conditions. These conditions mainly are a history of overdrafts, or a reason to believe the checks may not be collectible. These are also detailed online. If a financial institution does elect to extend the hold, they are required to notify the depositor of the extended hold, and the reason.
Anonymous on 06/25/2010: apparently didn't read the link I provided. The 1-2 days is standard and the 5 days includes what you spoke about. Please provide your info for Capital One in Texas that says it may be held longer than 5 days.
Obsfucation on 06/25/2010:
"For certain types of deposits, Regulation CC permits financial institutions to delay, for a “reasonable period of time,” the availability of funds. A “reasonable” time period is generally defined as one additional business day (making a total of two business days) for on-us checks, five additional business days (total of seven) for local checks, and six additional business days (total of eleven) for nonlocal checks; your institution may impose longer exception holds, but you may have the burden of proving that they are “reasonable.” "
Anonymous on 06/26/2010:
I don't know if you read what you linked either. At least, all of it. It says this....."your institution may provide earlier availability of funds if it chooses and may extend the time when funds are available up to periods set by Regulation CC on a case-by-case basis."

To keep the funds for a longer period, they would have to disclose that, which they haven't done in their (Capital One's) regulations.

Again, the funds should be available no more than 5 business days after the deposit per their disclosure, imo.
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Small Business Checking Rip Off
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TEXAS -- Started a new business. Opened a business account. Had personal account for several years with local bank now purchased by Capitol One. Upon receiving payment from my first customers, I deposited the checks and was not told they would be putting holds on the deposits. Long story short, accounts snowballed and NFS's charged. I have had the account since January, it's now July. I deposited a 900.00 check from a large company to the account last Monday. They put a hold on it. I need to buy supplies and get work done for two customers I put on hold over the weekend until funds available. Guess what, they aren't giving me the money until 5PM. I just lost two customers AND just got told from the company that gave me the check that the funds cleared out of their account last Friday so Capitol One is holding my money for their use and benefit until they see fit to give it to me, costing me business. Oh and I almost forgot, I deposited another check last week that was drawn on another Capitol One account and they slapped a hold on that one too until I started screaming loud enough for bank officer to come over and remove the hold. They claim its how I manage my account, but they cause the NSFs and continue to hang me up. DO NOT OPEN A BUSINESS ACCOUNT WITH THEM. They will bury you. They also won't cash the checks either, as they are made out to my company and not me personally. They are putting me out of business. Does anyone know how to sue these guys? They arrogantly rip off the little guy. As soon as the see fit to release my funds, I am closing accounts and going elsewhere.

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Anonymous on 07/06/2007:
Arrrrr What's in yer wallet ?

Evidently those pirates were subliminal.
adzidek on 07/06/2007:
At the risk of sounding demeaning: are you SURE you opened a business account? Checks to businesses are supposed to be made out to the business name, and business bank accounts are supposed to have these checks deposited into them. Is it possible you unknowingly just extended your personal account with a business line of credit, instead of opening a true business account? This would also explain the holds. Business accounts are not supposed to hold anything.
Anonymous on 07/06/2007:
Whoever controls the money in any country is master of all its legislation and commerce.
-President James Garfield

Centralization of credit in the hands of the state, by means of a national bank with state capital and an exclusive monopoly.
-Karl Marx, 5th Plank of the Communist Manifesto (1848)

capitalonebankSUCKS on 07/06/2007:
It's definitely a Capital One Small Business "Business" account.
adzidek on 07/06/2007:
Well, then, I don't know. If my bank tried to pull this kind of jazz, I'd tell 'em right where to go, and it sounds like you're going to be doing the same. Good luck.
poppapia on 07/06/2007:
Lidman, you're on a roll. adzidek, an individual can open a business account (DBA, Sole Propietorship, etc.), and holds apply to business accounts just as they do on personal accounts. That being said, Capital One is almost as bad as Chase.
capitalonebankSUCKS on 07/06/2007:
Maybe I should look closer at accepting Visa/MC and get away from handling so many checks that cost me, and profit the branch banking crooks.

Any advice on doing this from local service contractor's perspective?
poppapia on 07/06/2007:
You can try accepting credit cards, but remember, you will be charged a fee for doing this, as well. The best part about accepting credit cards is that you know immediately if the funds are good. You can also try either a local credit union or small community bank, as their services are far superior to the large, corporate banks.
Starlord on 07/07/2007:
Every bank I have been to in the last couple of years has a card posted on the counter where the tellers are that explains the bank's policy on holding funds, both for personal and business accounts. Try reading it while standing in line next time.
Starlord on 07/07/2007:
I hope you have enough business to make merchant services practical. We had a small business and got merchant services, but the company we got it through hit us with so many fees, the vast majority of our income was snatched for merchant service fees. And back to the check question, our bank gave us a folder when we opened our checking accounts that had everything we would ever want to know aqbout our accounts, and the bank's fund holding policies were explained, in detail. Did you not get any info when you opened yours?
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