Absolutely the worst bank on the planet. I have spent over two hours just trying to get someone to answer a phone and give me factual information. There is no such thing as customer service anymore. Period. I can't wait to move my accounts after this mess!

Avoid Capital One Bank at all costs.

What's in your wallet?

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Pack light and cinch tight.

Looks like the more the commercials, the more the problems!

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14 S&W Revs none with locks!

They are also being sued for "funny business". Excerpt from a local online news source.

"The Consumer Financial Protection Bureau has filed suit against Capital One for allegedly misleading customers about its high-interest savings accounts.

The suit, filed Tuesday, alleges customers were cheated out of more than $2 billion in interest through Capital One’s flagship “360 Savings” accounts. The accounts were advertised as having the nation’s “best” and “highest” interest rates but instead were frozen at the lowest level even as rates rose nationwide, the Associated Press reported. While rates were frozen, Capital One created “360 Performance Savings” accounts that saw higher growth – at one point paying more than 14 times higher interest than 360 Savings - but the product was not openly offered to many customers, the suit alleges."

Hard to beat a local credit union.

People are screaming online for their deposits. I have been waiting two days so far for mine. No accountability. Nothing. You can't reach a live person - no such thing anymore at these mega financial institutions. Run by pure greed and profit. Very sad times in America.

One of our local banks is bad about losing night deposits. This (non)customer service mess has gotten completely out of control and our lawmakers need to do something about it. BRING CUSTOMER SERVICE BACK TO THE U.S.A! This problem is everywhere. It's almost impossible to get a problem fixed unless you're willing to spend hours on the phone, and then most of the time it still doesn't get fixed. These foreigners, who barely speak English, read from a script. If your problem isn't on that script it doesn't get fixed. I've had several of the foreign CS reps tell me that the longer they keep you on the phone the more money they make. When they run out of stuff to say they start playing the transfer game and it starts all over. I got rid of everything AT&T and several others for this reason. I don't have time for this foolishness. When I run into this I know the company doesn't care anything about their customers. It is infuriating.

You cannot reach a live person at most large businesses. The person costs money, and they might say something that could cost a lot of money. The robot voices stick to the script.

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Release the Kraken

Capital One ripped me off -- and millions of others -- 30+ years ago in a credit card scam. I wouldn't pee on 'em if they were on fire. Their business model is questionable at best...

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Pisgah

So what is it, really? Lawsuits or AI ?

Great credit card company. Pay it off every month, no interest. Even get Bass Pro Club rewards on some items.

They lost my night deposit bag with a million $$$’s in hundreds? Who do I call?

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I’m your Boogie Man, uh huh.

Try to hire customer service call takers in the US for any wage. Best of luck.

Wow, and I thought Wells Fargo was bad. Seems like the lesson here is to spread your accounts around - don’t keep everything at 1 institution. And hold some cash at home.

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Common sense isn't so common.

Being a Cabela Club - Cult Member, I do have a Capital One Credit Card.
Also prefer and recommend ‘Banking’ at a local Credit Union.

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NRA LIFE MEMBER

Call just about any government office and try to talk to a living human. LOL
How long has it been since you have seen a worker at Social Security other than a door guard.
This nonsense has to end and starting with government.

I have enjoyed PENFED Credit Union for years!

Outstanding money-savings options and Customer Service.

I've not had any problems with Wells Fargo other than a 15 minute wait at their drive thru.

I like spreading things around a bit. My main account is with Ameris, back up is Wells Fargo, and kept an account at Key Bank in Ohio.

Only bank I've had problems with is Bank of America...so far.

How much cash would be recommended to keep at home?

I was very curious about Kohl's and their changing over their charge accounts to a Capital One Cr Card. It's their only charge card now and the only way you get some of the advertised special prices. My wife received hers several months ago, but (since I seldom ever use mine) I just received an email last week that I would be receiving one "soon" also. I don't really want one, but occasionally want to buy something and get the "special sale" price.

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H Richard
SWCA1967 SWHF244

Dave Ramsey:
1 - 2k physical cash seems reasonable for unforeseen emergencies.

Bekeart:
1-2 weeks for groceries/gas/
monthly utility bills

Cajun:
Bail Money

A few years back Wells Fargo settled a criminal case where employees were opening fraudulent accounts. The people who’s names were being used found out when they started getting unsolicited mail. Turned out management based compensation on number of new accounts opened, with predictable results. Problem solve, right?

I saw in the news recently that they got caught doing it AGAIN!

Yeah, BoA is another winner…

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Common sense isn't so common.

That would depend on your personal situation. I’m hoping I won’t need bail money like Caj.

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Common sense isn't so common.

Provides everything I need from a bank.

The First National Bank of Orwell

Why is a credit union better than a bank?

Only one in my area is VyStar.

A friend had an account there, and would dump my change in their machine for cash. That would be one advantage.

Apparently this is not actually Capital One's fault. A company that processes direct deposit transfers, Fidelity National Information Services, had a power outage take down a server. That's the source of the issue. There were other (smaller) banks affected, not just Capital One.

I've been keeping 1 month's expenses plus another 10%.

Credit Unions are member owned basically and can't show a profit.

This allows profits to be put back into the CU to reduce rates on loans, pay bigger dividends, etc....

It also generally means their employees are paid and treated a little better.

I worked for a few years for Navy Federal CU, which is the largest CU in the US (maybe World) and they treated people pretty good.

Now, like any financial institution there will be mistakes made, but for the most part a CU is just more better.

I would never, ever solicit information online that would in any way suggest I was keeping cash in my house. Not everyone reading a forum like this doing so for acceptable reasons.

The "technical problem" story that Capital One is broadcasting is total BS. The FDIC / OCC is about to announce that Capital One is unable to pay the deposits owed. Stay tuned for the fall out. This just another example of how lousy this company is. Say goodbye to any outstanding deposits for a long time. Nice work Capital One. White collar crime really does pay!

Enough for gas, groceries, and miscellaneous purchases for a couple of weeks. I bank locally, City National Bank, a local corporate chain which started in the Ohio Valley. They are doing well, and pay nearly a full percent more on savings and CD's than the bigger regional and national chains, let alone the credit unions.

Truist swallowed the bank I'd been with for over 30 years, and promptly ruined it. Lost my car title, too, and didn't offer to reimburse me for the expense of a duplicate title. I bailed from them a quickly as I could say "I want a cashiers check for the total of all my accounts."

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Heavily armed old man.

Did that with Wells Fargo several years ago.

As we move closer and closer to a cashless society...

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Hipcocked & Locked

Posting here suggest that you likely have guns in your house.

Bekeart

No worries...

I have a new S&W Bodyguard 2.0.

... and it has "accepted" 5 self-defense rounds.

And... a 7 foot long Reticulated Python that sleeps under my bed.

Hmmm....I've been a Capital One customer for years . They offer very competitive rates and I've always had good service....so far at least.

I question the prison work stories. In 2010 my ex took a job at a call center in my home town, after she lost her coal industry sales job. At the time, there were several, and most had 200+ seats and phones going 24/7. Prison, no. But she said it was a big sweat shop atmosphere.

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Heavily armed old man.

So I guess the fact that I cannot find a single large news service that has picked up your "news" is just another sign of the oligarchs controlling everything.

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Release the Kraken

End of day 2, both my paycheck and wife's are missing in the "Ozone" thanks to Capital One banks mishandling and poor business practices. I was told by a customer rep, who surprisingly answered the phone at 6 pm EST, that there was no end / resolution in sight for me receiving my deposits. I wanted to go nuts - but realized she had nothing to do with it. Why take my anger out on her. I ended it there. The backstory across the Internet is that Capital One cannot cover these deposits. The "third party" / outage story you're hearing is a cover up to the real issue.

Where are the overseeing banking agencies today? FDIC, OCC, etc. in our government? Anyone out there give a damn about the working class these days? Those who work for their money and expect a fair and timely payout. Nope. Hardly even the news services care about what is happening.

So, next week I will look for a means to go on financially missing two expected paycheck incomes from a trusted source. Unbelievable. There's certainly way more to life than money, but this whole thing makes me sick to my stomach as an American.

What is your source?

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SWCA #2922

Particularly the pictures.

Cash, jewelry, gold/silver/platinum, and other completely anonymous and liquid assets are much more attractive than guns to serious burglars, most of whom know stealing firearms (which are certainly not anonymous) gets you enhanced penalties because one stealing guns is factually armed as they leave. Which is also why most drug mules (street dealers are different) are almost never armed.

Incidentally, if you have a big stash of $100 bills (or other currency) you store long term, you can (and should) keep a list of each by denomination, series, and serial number and provide the list to investigators for entry into NCIC if stolen.

birdshooter - source at the FDIC

A personal source of yours at the FDIC or a news story? I’ve found nothing pertaining to your claim. If you have a link I would love to read it.

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SWCA #2922

Not a great amount of cash for several reasons including robbery and fire. I usually keep between $1000-$2000 in mixed denominations in a home hiding spot. If I know I will need a greater amount of cash, I withdraw it from my checking account beforehand. That does not happen often, maybe a few times per year. Most of my purchases are either by check or CC.

Have been with a local WF branch for over 30 years, no issues or problems with them for the whole time. Including some fairly complicated and unusual financial transactions.

I don't keep much cash at home. Makes me nervous. Rather keep it in a bank account.

I got rid of Cap One years ago. Now with Pen Fed.

Are you saying your paycheck comes from an employer's account at Capital One? From what I'm reading the issue is that Capital One cannot accept nor pay out money.

What do you mean when you say Capital One cannot cover the deposits? Are you saying that the bank as a whole cannot pay peoples' bills because regardless of what the total $$$ people think is in the bank, that it's not actually there?

For example, assume you are not living paycheck to paycheck and your balance is more than enough to cover outgoings for a week or two. Are you saying that Capital One cannot pay your bills (and everyone else's) because those deposits are missing? Are banks in the US allowed to operate like that?

As for the "FDIC says..." stuff, I'd advise staying out of certain corners of the Internet. Too many there just want to stir the pot.

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Release the Kraken

On home robbery...assuming I’m home and a perp was able to get passed several rounds of JHPs, finding the cash would be nearly impossible. Fire is a possible concern, and I have “go-bags” if an emergency requires leaving my house within a few minutes. Having been in a home fire, my thoughts were dramatically changed about smoke alarms, fire extinguishers, and mental preparedness.

Since the scamdemic, keeping cash at home is primarily for the convenience and ease of making purchases over several months without having to drive to a bank. Also, if some event occurred, like a large power outage, a banking issue like the OP has stated, and my local bank was shut down, I want to have cash to make emergency purchases if necessary.

Being prepared reduces the worry of any potential event that could make life very difficult for a short time or for more than a few days.

To increase financial accounts security, I quit using checks and my debit card over 25 years ago. Now I pay cash or make purchases on a very low credit limit card. The credit card is paid to zero every month.

[/QUOTE]As for the "FDIC says..." stuff, I'd advise staying out of certain corners of the Internet. Too many there just want to stir the pot.[/QUOTE]

Good advice. Note no source has been provided.

While this incident is no doubt problematic and causing struggles for a lot of people, it is highly unlikely criminal. And I’m pretty confident Capital One has the funds to cover its customer’s deposits. I haven’t moved my money and will deposit more. These things happen and they will make it right.

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SWCA #2922