Home Business & Finances Capital One Checking account/ppp dep

Capital One  -  Checking account/ppp dep

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8:53 pm
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My PPP loan funded on June 8th on June 1st I called Capital One bank and told them I was expecting the PPP deposit from ready Capital my lender and ask them if there would be any issue if it was deposited into my personal checking account I was told by a supervisor it would not be an issue to go ahead to deposit so the deposit gets done two days later on June 10 my account is frozen because of the PPP loan they said it went to their fraud department so I called the fraud department they wanted copies of my 2019 tax return and my the name of my company and bank statements which I'd already given to SBA and ready capital but my loan was based off my 20/20 tax return not my 2019 so I advised them of that and sent them my 2020 tax return and my SBA loan approval contract that I signed and answered their question I told him it was a sole proprietorship and I followed all the guidelines and got my loan I took me 3 months to get get the loan and they said okay well thank you answered all of our questions left me with the impression that the funds were going to be put back into my account that was 4 days ago and we have no funds accounts are still locked and then they went away for the weekend it was closed down left my friends still locked and I have no recourse I don't know what else I can do they have all the all the power if they mention the word fraud legally they can take the funds I've called I've sent them every document requested and still nothing this is the worst bank I've ever dealt with in my life I've written letters to the president I have done everything that they've asked I've called the SBA I called Ready Capital to see if they were the ones who ordered the investigation and neither one of them ordered anything this is all done on Capital One own mission which they have done to thousands of others of other people I found out after the fact going online and reading what they have done to so many small businesses sole proprietorships they feel if they think it's fraud then that's it game over they can't get away with this this is unbelievable everything I did was above board legit and I'm not backing down I know I'm right they can't do anything I follow the guidelines if they don't like the way the PPE loans were set up with too damn bad it wasn't their decision to make

Update by Dino Nunes
Jun 13, 2021 11:35 pm

Oh I forgot one thing right after they froze the account my credit score dropped 90 points and nothing changed on my credit report except for my score when I called the credit bureau they told me Capital One had put some type of Levy or lean on my credit report this bank has stepped away over the boundaries and they need to get their s*** together not everyone that got a PPE loan is fraud this is ridiculous how does this Bank get away with this an SBA and ready Capital said that they can't do anything they didn't order the investigation Capital One did it's only my account was in good standing with them please somebody out there help me please I was affected like everybody else from the coronavirus the PPP loan was really going to help me out so I could pay myself get back on my feet like everyone else wants to do Capital One is preventing that for happening for anybody if it's a PPP loan then you committed fraud. Whoever runs the fraud department they're the ones who are committing fraud they are the ones that are committing crimes by taking people's PPP loans this is outrageous.

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Nov 21, 2021 12:22 am
Verified customer This comment was posted by a verified customer. Learn more

I have dealt been dealing with capital one since sept 4, 2021. For a legitimate loan received in June. I sent all documents asked for, called the SBA, and prestimos. And this is a Capital one, bs move. My loan has been forgiven and paid off. Yet they have restricted the funds and claim to send them back to sba, which is nit true, bc they wil go to prestamos. Who do not have a number, that I have found. Just an email with no reapons. SBA has nothing to do with it and offers zero help.!Any guidance that can be given wld be great and any change on my end I will post!

Jul 07, 2021 6:40 pm

OMG this just happened to me, and i was terminated because of it on June 25th, 2021, i worked for capital one, they fired me saying i committed fraud on my personal bank account, i wasn't fired because of my work ethic i was fired because i got a PPP loan


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732 complaints
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15000 Capital One Dr., Virginia United States