Capital One Bank Account Or Service Complaint

Capital One Bank account or service department,

Savings account Account opening, closing, or management New York

Capital One Bank allowed my - year old, by going online to their site, to set up an online banking link to a custodial savings account with no questions asked and no notification of the adult custodian. He was also allowed to switch from paper statements to electronic with his email address as the recipient, so no one would know. He then was able to make - separate ACH withdrawals totaling $750.00. The " Bankers '' at our branch were mortified, telling us that if he walked into a branch he would not have been allowed to conduct any business without the custodian on the account. They tried to help us but the only thing they seemed able to do was to refer us to the online banking fraud department. An " investigation '' was done, and not surprisingly, no fraud was found, as the end recipients of the transfers answered the inquiries saying there was no fraud involved. No one beyond the branch personnel seems to understand or take any responsibility for the negligence of the bank in breaking their own rules. Custodial accounts are set up to protect the money from underage individuals without the maturity to manage money. This has been a monumental breach of trust. I ca n't imagine we are the only people this has happened to. I believe the bank should restore the funds to the account, regardless of whether they can get the money back from the end recipients or not.