Report: #1274341

Complaint Review: CAPITAL ONE BANK

  • Submitted: Tue, December 15, 2015
  • Updated: Wed, July 20, 2016
  • Reported By: Jacob — new york New York USA

    New York, New York
  • Phone:
  • Web:
  • Category: Banks


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I have a successful business selling millions of dollars of merchandise every year. I have been in business for 5 years and I was going to be making large purchases from shops in Europe and I needed a debit card or credit card that could fit my needs.

Capital One offered me a debit card for my business with no foreign transactions fee. I told them when I first came to the bank that the only reason that I needed the debit card was because I would be making debit card purchases at specific shops in europe for amounts up to $250,000. They told me that this debit card (spark visa) would be perfect for me and all I would need to do is call in before and make sure someone can approve the transaction for that date, of that amount, in that country. 

Because my purchases are large and my margins are small, having no exchange fee is extremely important. I reminded my bankers again and again of  the dates that I would be travelling and the amount that I would be spending and they assured me again and again that it would be no problem.

Finally I boarded my flight and 8 hours later I landed in the country where I was supposed to buy my merchandise. I was supposed to make the purchase on my debit card and leave the same day. When I tried to swipe my card it would not work, when I called they said it was not problem and they would have it fixed and again I swipped and nothing happend. I was then told that I am only allowed to make a maximium debit card purchase of $20,000 per day even though I had $250,000 in my account and every other debit card I have ever used has not had this limit.

I then spent the next week and a half sleeping at a cheap hotel away from my family trying to figure out how to get my money from the U.S. to this shop without paying insanley high transactions fees. Capital one offeed to do the transaction for 3% which is a massive commission compared to the feeless transaction that would have taken place had the debit card worked as promised.

I spent hours on the phone with them begging them to make something happen but ultimately they ignored me and I had to stay in a forigen country for a week and a half as they broke promise after promise until i finally found a forex company that would only cost me half a percent to change the money. By the time I had given up on Capital one the exchange rate had shifted to a very unfavorable rate. I can show exactly how much I would have been charged as the Visa/Mastercard exchange rate for each day are posted publicly on the website and it can be reviewed for any privious date.

The result of the lies I was told to gain my buiness was that I lost over $4000 in exchange rate, lost a week and a half that I could have been working, and had to stay in a cheap hotel away from my family. I called customer service and the office of the president and they later told me that they would not be compensating me dispite the fact that I can show that I was lied to. Capital one has done nothing but lie to me and I have many of these lies documented as well as proof of the exact amount that I lost because of these lies.

This report was posted on Ripoff Report on 12/15/2015 12:07 PM and is a permanent record located here: The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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