Reply to Capital One froze all my accounts

Forum Index » Money and Finances

Reply to "Capital One froze all my accounts"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous]Has this ever happened to anyone?  I received a large federal refund and it went directly into my credit union account.  I wrote myself two checks from the credit union account into my Capital One account.  I have several Capital One savings accounts, so I wanted to split the refund into one Capital One account I designated as "emergency reserves" and another account for "house repairs".  The federal refund deposited into the credit union account successfully.  Three days later I wrote the checks and used mobile banking to deposit my two checks into Capital One.   When I logged into my credit union account both checks cleared, no problems.    Capital One calls me and said there was a fraud alert on my account.  They said they have information that my two checks would not clear and advised me it was a crime to deposit checks into an account knowing they wont clear.  I had no idea what they were talking about.  When I pressed them for what this "information" was they said they contacted my credit union and was told there was insufficient amount in my account.  I called my credit union immediately and they confirmed both checks cleared.  I called Capital One back and they said they spoke with their "investigator" and still felt the checks were suspicious.  They said I had to wait five full business days for the checks to see if they would clear.  That's not the problem--the problem is Capital One froze all my accounts (i have several savings accounts, along with a credit card) and I was NOT able to login to my accounts because my accounts were now considered "restricted" and that if the checks did not clear, Capital One would automatically close all my accounts.

I understand the need to wait for my checks to clear---but the drastic measure of freezing all my accounts, and be told by this phone, and WITHOUT any letters from the bank letting me what's going on and why I felt was wrong.  And, when I told them the "information" they received that my checks would NOT clear was inaccurate and I invited them to contact my bank again went on deaf ears.

I plan on writing a letter to the bank asking for a full review and detailed explanation.

Has this happened to anyone before?
[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics