Capital One Has Lost Thousands of Customer Deposits!

wood714 said:
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.
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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…
 
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.
 
wood714 said:
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.
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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.
 
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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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.
 
jmiles1960 said:
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!
Click to expand...

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.:rolleyes:
 
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.
 
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jmiles1960 said:
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!
Click to expand...

What is your source?
 
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