Other Location, New York
1 comment

Since Capital One bought out my favorite bank of all time (ING Direct), I have experienced issues with my checking account. I had been a ING Direct customer since 2005, but Capital One didn't care about that. Recently, an automatic withdrawal from my checking account was rejected by Capital One (even though I had plenty of money in my Savings, which they say doesn't matter because they can't link them like other banks do). I can partially understand the rejection, which really didn't bother me. What did bother me was that I received an email saying that if it happened again in 60 days that my 8 year old checking account would be closed. Unfortunately, I had another situation where I forgot to log in and transfer from Savings to Checking and the automatic withdrawal was again rejected. Capital One sent me a secure message saying that my account will be closed in 30 days because of the issue.

I could understand this account closure if I had numerous issues with my account and/or didn't have thousands of dollars in my savings to more than cover the small automatic withdrawals, but since that's not the case I'm seriously frustrated.

Now I have to open a new checking account elsewhere and switch all of my direct deposits, bill pay, automatic withdrawals within 30 days because Capital One truly doesn't value it's customers.

Monetary Loss: $1000.

  • capitalone
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Anonymous
#815154

I am also a Capitol One 360 customer. I hope you didn't go to the trouble of changing all your banking.

I have received this notice, also.

The wording says the account MAY be closed if it happens again, not WILL.

I spoke to a CS Rep when I got my notice, and I was told that that is an automatic email.

Granted, it is a scary situation when you get the email, but don't panic. Just watch your spending and move money from your savings to your checking to be sure you have a buffer.

Capitol One 360 still does not charge you for the overdrafts, but it costs them to process them.