Capital One review: Deposit withheld

On more than one occasion I have received a company check from a law firm that I consult for. Each time I have deposited their check it's put on a 5 day (plus hold).

On one occasion it created a late payment from my capital one checking acct to my Capital One credit card which did have the available funds but was rejected with no explanation. Thus I now have a late payment on card and was charged the late fee to boot.

I respectfully requested a copy of the Rules that inform the policy for the hold and asked for a specific reason as to why this companies check is being flagged for hold with each deposit.

As a customer I believe I am entitled to see no only the policy, but the rules related to the policy and how they are being programmed into the computer systems.

I was doing this in an attempt to prevent future issues and to inform the firm I work for that their may be an issue regarding their banking or the particular account they use.

In a prior instance I had to call Capital One who then transferred me to a particular department that then called the firm to verify the funds at which time they released them.

Both their customer service rep and the supervisor basically told me this is the rules, we don't know why or have access to the reason as to this is occuring and we can't do or tell you anything and we won't transfer you to someone or some department who can.

It is unbelievable that I cannot actually see the rules and policies that I am bound by and have to follow and in the interest of solving an issue and preventing future occurences cannot reslove this in any reasonable fashion.

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