Capital One Business Banking / banking protection from illegal charges

New York, NY, United States Review updated:

I have run a small business and i have a business account with capital one. On jun 4 i saw a unauthorized debit of usd 530. 18 to my account which was done on jun 2. I contacted capital one and filed a complaint about the unauthorized charge. The agent filed my claim and was advise that i should be hearing from them. Today jun 10 i received a mail from the bank saying that they deny my claim because i did not report within the time frame required. I was shocked. I reported within 2 days of the incident. I called the bank and the agent said capital one policy for business account is within 24 hours only. The agent mentioned over 20 times the same sentence when i try to justify what about the business owner's protection com ? She just wanted to brush me off with the same note. I was persistent and eventually i was transferred to supposedly a manager to lodge my complain. Meanwhile as i was waiting for the manager to come online (Which he did after 10 mins) i placed a call to chase business banking section. I asked them their policy and the agent checked and advise chase allows max 60 days to client to dispute the charge or debit to their account. Same was conveyed to the agent that came on line eventually. Again complained was raised. Explained the whole 9 yards. Now i am given another complain number to follow up. My point is in today's world of cyber hacking and theft how will 24 hours protect us ? Only 24 hours protection is totally not acceptable. Capital one does not want small business owner to bank with them ?

Jun 10, 2015
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  • Th
      11th of Jun, 2015

    The dispute policy was made perfectly clear to you when you created your account. If you found it not acceptable then, why did you create it and not go to a bank with a policy more to your liking?

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