Capital One Money Transfers Complaint

Capital One Money transfers department,

Domestic (US) money transfer Other transaction issues Pennsylvania

I enrolled in a high deductible Health Insurance plan through my employer effective -/-/2016. I opened an HSA with - - around on - -, 2016. I decided to fund my HSA by completing a one time partial rollover of cash from my traditional IRA at Capital One Investing. I submitted a Transfer form which I received from - - and had my signature notarized by a notary at a - office since I 'm a member. Capital One received the form and refused to process because the form did not include a Medallion Signature Stamp. I tried to submit the from a second time and took the form to my personal bank, - -. - - representative told me the Transfer form does not require a Medallion Signature Stamp because the funds being transferred were not securities but FIDC insured cash. - - agreed to guarantee my signature and stamp the form which they explained is similar to a Medallion Guarantee Stamp.


As a final resort I had the funds distributed to my personal checking account and then transferred the funds to my HSA. The problem is this transaction will now appear to be taxable. I feel Capital Ones requirement of the Medallion Signature stamp impeded me from completing the rollover transaction as provided by IRS regulations. Medallion Signature Stamps are difficult to obtain. Few institutions offer them and I would have had to open an account that I did not want or need.