Over the course of the past year I have had a number of very annoying experiences with CO. The first was when I went to make a furniture purchase with my debit card. The purchase was declined, not becuase of insufficient funds, but because I had reached my "daily limit". This daily limit was arbitrarily set by CO and it was about 20% of my total balance at that time. My purchase was $60 over my "daily limit" and they refused to process the transaction. They did offer that I hadn't made any ATM withdrawals that day and could go to the ATM and get out up to $500. I was told by CO that this is a practice of all banks. I spoke shortly thereafter to a VP at a bank and is responsible for the integration of banks they acquire and he had never heard of this practice at any other bank.
Other incidents include having trouble making a payment on a CO car loan. I would make the payment online and CO would cut a manual check and MAIL it to another CO divisoin. It would sometimes take up to two weeks for the check to clear and I was totally unaware of this until I got calls that my payment was late. Mind you a payment to my Macy's account cleared in three days. This week my debit card was very cut off. I had no idea until my card was declined. I called cusomter service who told me that there was a security concern and they were sending me a new card. I had no notice of this, no email to my online account, nothing. Further when I asked about the security breach I was given no info. Their security practices are very confusing. My card will get declined for security verification on $150 purchase in Ohio (I live in MD) but no such need for verification when spending thousands in Vegas. I nearly always expect my card to be declined when I'm out of state.
Note the customer service people are always as helpful as they can be. Its the bank practices that are terrible.
Their accounts and credit cards are not consolidated even for business banking. So you have logins for every different credit card holder and the main company. Ridiculous! Of course they don't tell you this when enrolling (this was last month, not years ago). They say upgrades are coming soon.......
Capital One Bank international wire transfer service is horrible since they merged with Chevy Chase Bank. Their international wire transfer service hour is 9 am to 2 pm. weekday.
(they do not international wire transfer on Saturday). I am working full time but I took the day off on Friday and went to Capital One Bank and do completed international wires transfer. However, the banker called later and said it is declined because banker did not put to wire purpose.
I do not understand why they need to know for transfer purpose, it is my money and will be withdrawal from my account (actually for my family support). They already checked my drive license and I got copy of transferred receipt, I asked them if they can fax to me I can put my signature and re-fax to them. But they denied my suggestion and told me that I have to stop by bank again. They should provide all information and make sure their job before customer finally stepped out of bank door.
This is second time, I got rejected. Last time, another Capital One branch banker made type error it also rejected. I never have seen like that before any of poor customer services. It is terrible and stupid banking system!!!