I have banked at Capital One for over four years. In that time, I have never overdrawn my account and have never bounced a check. So imagine my surprise when I logged-in to my account this morning and saw "Your funds are not available for withdrawal . . . ."
I called the number listed and spoke with a girl named "Leslie" who told me "An internal review of your account is in progress. We have decided to close the account. Once the Internal Review is complete, you will received a check for remaining funds within 7 to 10 business days."
I asked "When will the Internal Review be completed?" She responded "I don't know." That told me this could go on for months!
They've grabbed my entire balance of $9,574.86 and when I may get that, is not known!
What is being "reviewed?" She didn't say. "What caused the review?" She didn't say. All I know is that the bank has my money and won't let it out.
I told her "This is a checking account, which is a Demand Account. I demand my money."
I spoke to a friend of mine who told me, "This is entirely punitive. They don't like what you report on radio so they're waging all out war on you. They want to make you an invisible person financially, to destroy you." I think he may be right. Then that same friend pointed out, "If they do this to only ten thousand people, with accounts at $10,000 each, that's a Hundred-Million they get to sit on to cover if the bank is failing." That struck me as a possibility.
If the bank is doing this to a slew of people, all of whom think it is only happening to THEM, and no one talks about it because it's personal, it could cover if the bank doesn't have the cash!
I tell you this so that if you bank with Capital One, you may wish to reconsider if keeping your money there is actually safe.
If they're doing this to me, they can do it to you, too.
Maybe you should take steps to protect yourself. FAST. I recommend getting your money out.
