I opened up a checking account with Capitol One bank. My payroll deposit goes directly there.
I recently sold my home and the proceeds also went into that account the next day. Since my house was sold I no longer live there (a concept Capitol One does not understand) I called into customer service to change the address on my account. All seemed fine with the representative. The VERY NEXT DAY, Capitol One frooze my checking account, returning checks, bouncing payments associated with the closing, with my move and with my settling into my new location.
Locked up ALL my money. I found out 4 days later when a small business called about my returned check. Calling Capitol One I found they had returned every online payment and check I had made, they could not tell me what they returned and on all the returned checks they marked Account Closed. This was supposedly Fraudulent Activity caused by my changing the address.
Now, 2 weeks later my address is still not changed, and when I call customer service they say sure, we will change your address just give us the information. When I ask what is different from the last time, they don't know so I won't change the address because I do not want them to freeze my account again. Seems I can never change the address on my account, possibly ever. What kind of lousy business practice is this?!?!
I am closing my account with them immediately.
Product or Service Mentioned: Capital One Checking Account.
Monetary Loss: $500.