Capital One Has Lost Thousands of Customer Deposits!

[biku324]

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

Bekeart

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.

 

[jmiles1960]

birdshooter - source at the FDIC

 

[birdshooter]

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.

 

[DWalt]

How much cash would be recommended to keep at home?

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.

 

[DWalt]

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.

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.

 

[Onomea]

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

 

[Old 44 Guy]

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

 

[LVSteve]

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.

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.

 

[GnarlsR2]

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.

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.

 

[birdshooter]

[/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.

 

[biku324]

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.

My first contracting gig was in the Philippines, mostly very safe except some areas in northern Luzon, all of Mindanao, and the Sulu Archipelago. We all had 'go bags' with small flashlights, water, some food, first aid, and so on. Folks 'in the know' said you should have $500 US currency in the bag; guess what the theft rate (not robbery, which is much different) was for the 'go bags'? Nothing two people know is really a secret.

 

[dockmurgw]

Capital One is a wholly owned subsidiary of the USPS, and the states of CA, NY and Mass. That should rattle a few cages...

 

[birdshooter]

Capital One is a wholly owned subsidiary of the USPS, and the states of CA, NY and Mass. That should rattle a few cages...

Oh my. So you reject all of your mail base on principle?

 

[schutz5]

Can't those pay checks be cancelled by employer and reissued??

 

[LVSteve]

Can't those pay checks be cancelled by employer and reissued??

Most paychecks are electronic these days. If one financial institution (B of A maybe) is trying to push money into another (Capital One) but the receiving system balks, I'm unsure what you can do.

 

[Onomea]

I have a CD with Capital One. Received this today: