Capital One Savings Account

I have had difficulty accessing my online saving account and performing banking activities with captial one since opening the account, especially from the evening to late hours in the night. It gets unpredictable when capital one will restrict you from accessing your account and from performing transfering money. It's time wasting and annoying having to log back into the account at another time or the next day. I will be depositing my money elsewhere at a reliable big bank even if the interest rate on the saving is lower.

I had opened a savings account with this bank once and never again. They put a block on my account for no reason and so I could not get the money out of the account.

When I called their bank, they said that my account was blocked but they could not tell me why and put the phone down on me as they said they do not speak with customers whose accounts have been blocked.

It was very worrying as I could not go to their branch to see a manager (as they don't have one!) and I could not speak to anyone at their office as they just put the phone down on me. In the meantime they had all my savings! It was like daylight robbery.

I found their company registered address and wrote to that threatening to report them to the FSA for stealing my money.

A manager eventually called me and apologised for blocking my account in error but he did not apologise for his staff putting the phone down on me as he said that was their company policy. HUH???

I got my money back after about 3 weeks of worry and frustration. Do not put your money into this bank unless you don't mind being robbed.

I have recently been unable to access my savings account online despite the fact that I put all correct details in (checked caps lock etc!). My account locked, I telephoned cap1 and duly received a new password within the week. I tried access with my new password today and cannot even get to the log in screen let alone type new password. No explaination. After the Kaupthing decline, of which I am also a current victim, I fear for my money!

Conclusion: Find a more reliable place for your money (if there is one!).

I set up a money market account with Capital One online. They withdrew money from my local bank account to theirs electronically. The account showed up online then it disappeared a few days later. I asked them what happened to it and they could not say. I would have to call and talk to someone. I called a least 20 times and got the same run around. I could not even write a cheque to access my money. They stated they could not verify who I was although they removed money from my local bank without a problem. The fraud department basically holds your account hostage if there is any name and /or address change on credit reports etc. After 5 months of no money access I literally cussed out a person (never have done that before), and after I threatened a lawsuit for keeping my money they agreed to send out a cheque but would not direct deposit back into my account where they received it from?? The cheque arrived 11 days later. One girl mentioned tougher fraud regulations because of the Patriot Act. I said who have got to be kidding. I asked why they took money from my local account in the first place. They should have refused me my account if it didn't check out according to their fraud rules. They had no response. Way too much hassle.

Watch out for capitalone. I signed up for their savings account for my emergency fund, only to have my account access restricted. The reason for the restriction was that I had moved residences a several months prior to setting up the accounts. Apparently this looked like fraud to CapitalOne. I suppose this would not be a problem, except CapitalOne never sent me checks or an ATM card for the savings accounts. The net result: I can't access my emergency fund. CapitalOne will be mailing me cheques, but those checks will not arrive for several weeks, I will not be earning interest on these funds during this period, and it took me more than four hours to try to figure out what was going on (I had to wait on hold). I would warn anyone to seriously reconsider putting aside money in a CapitalOne savings account for an emergency fund, as they might find that when an emergency arises they cannot access their own money!

A company quick to rake in funds with the application and slow to process thereafter. The initial login ID is in fact useless for following account transactions. Do not send this company any of your savings until you have forwarded four documents for ID and received a letter of acceptance. That seems to be the general requirement inspite of anything written to the contrary in the invitation to subscribe.