I purchased a vehicle approximately four years ago through Capital One and the monthly payment was established on an electronic transfer from my checking account. On the 23rd of each month exactly $729.54 was withdrawn from the checking account.
On 11/18/2014 I logged on to the Capital One site and went to the "make a payment" page. On this page there is an option to "pay off" the loan. This is what I desired. The pay off amount was $7,141.51.
I was not required to enter any additional banking information as all of my checking account information was already listed. I simply hit "make the payment". On 12/5/2014 I received a call from Capital One stating that my payment was past due. I signed on to the Capital One site again and it indicated that the payment had been made, but then removed on the same day (11/18).
I then called and talked to a customer representative. I asked him both, why was my payment of $7,141.51 reversed and why did Capital One not do the electronic transfer on 11/23 of they did not accept the pay off? At first he stated that my bank "refused" the payment. While on the phone with the representative, I called my bank and on speaker phone, they stated to the rep that they had no record of an attempt to make the withdraw from my account.
The rep then stated that the amount must have been too large and that Cap one decided to not process it. I told him to make the transfer. He wanted to add the additional interest, but I told him no as it was their error. He talked to his supervisor and told me that it was resolved, he took the payment of $7141.51 and told me the pay off was complete and to expect title.
I spent one hour on the phone. On 2/8/15 Cap One again called demanding $17.19. I went through this entire explanation and talked to one rep and two supervisors. The supervisor told me that I must have entered an "invalid" account number.
I stated that I did not enter any account number as it was already in their system. After 30 minutes on the phone, I simply paid.
Reason of review: Poor customer service.
Monetary Loss: $17.
Preferred solution: Full refund.