Had to Yell at Capital One

[Anonymous]

Ok.

2,500 CL

Oustanding balance $1,955.

Webbill pay via USAA on Friday June 25th  total amount due plus 50.00 for interest.

Was checking online and all I got was balance zero, but available credit 555.

OK so the system is taking a few to processs and update.

Yesterday (july 3) I log on and see the same thing. Not sure if they just cut my CL so  I call them.

CSR: "oh, your funds are on hold"

"OK, why?"

CSR: "Well Capital One reserves the right to hold funds on transactions and based on your prior payment history that amount is not typical so we are waiting to be sure the payment has cleared. the funds should be released July 16th"

"Umm are you kidding me?"

CSR: "Well sir..."

"Lady it was an electronic payment/ACH transfer. The money has been out of my account since the day of the payment. It even says on my online statement electronic payment received. It was not a check or anything I think this is the dumbest thing I have ever heard."

CSR: "Well with your history at Capital One I can see if I can get the hold removed...."

Hold was removed effective immediately.

I wasn't planning on buying anything this was just snowball money finally being applied to a new bill. But a 3 week hold? on an electronic payment.

Credit card companies amaze me.

[chasmith]

NFCU has a habit of putting a hold on my payments by ACH from USAA, I have to call, they call USAA to verify the payment went through and release the hold.  They say this is because I am making more than one payment a month.

I have high utilization on my secured card and will until August when I'll be able to knock it down.

[Anonymous]

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@chasmith wrote:

NFCU has a habit of putting a hold on my payments by ACH from USAA, I have to call, they call USAA to verify the payment went through and release the hold.  They say this is because I am making more than one payment a month.

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What if you did internal transfers from a NFCU savings/checking to the secured?

[chasmith]

I was paying NFCU by ACH because USAA is my primary bank and I don't really have free cash in NFCU.  The alternative is to deposit a USAA check in NFCU then tranbsfer payment.  If I pay by USAA check they do the same hold, but the deposit is good immediately if small enough.  There are an NFCU branch and a couple of deposit-taking ATMs close by or this would be impractical.

[Anonymous]

Earlier this year, Cap One did the same thing to me. I PIF'd a ~$1400 balance (out of $1500 CL) and they put a 1 week hold on it.

I actually made a couple charges during that time and was declined for one attempted purchase before I discovered what they had done.

I assume it is a fraud prevention measure.

[ngerasimatos]

I have only had this issue when making a very large or abnormally large payment on my account. The times it has happened, i sent in an message via my online account and they released the funds same day. I never needed the funds, so it was never a big deal but I do use Mint to manage all of my financials and HATE seeing balances when I know they have been PIFd.