New Capital One 360 ACH limits

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Turbo29
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New Capital One 360 ACH limits

Post by Turbo29 » Thu Jun 14, 2018 9:50 pm

Received this email today.

Starting August 1, 2018, you’ll have new ACH external transfer and debit card limits.
...
Automated Clearing House (ACH) External Transfer Limits: Your 360 accounts will now be subject to limits on the amount of electronic transfers between your account and external accounts at other financial institutions. These limits are designed to be flexible in order to protect the security and integrity of the service and accounts, as well as you and all other users of the service. Based on confidential fraud and essential risk criteria, they may be modified at our discretion without advance notice.
• What transactions will this impact? ACH external transfers are electronic deposit and withdrawal transfers made between your Capital One accounts and your linked external accounts.
• What happens if I need to exceed the limit? At Capital One, ACH transfers are just one way to move money. So if you have a transaction that exceeds your limit, we’ll try to help you find an alternative that meets your needs.

Unless they are providing free wire transfers this might be a problem. Then again it might not. Can't tell as they won't say what the limits are.

Anyone know anymore about this?

boglerdude
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Re: New Capitol One 360 ACH limits

Post by boglerdude » Thu Jun 14, 2018 11:07 pm

Would be nice to be able to set the limit yourself, for security

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whodidntante
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Re: New Capitol One 360 ACH limits

Post by whodidntante » Thu Jun 14, 2018 11:44 pm

Presumably you can pull whatever you want from another bank.

DouroBound
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Re: New Capitol One 360 ACH limits

Post by DouroBound » Fri Jun 15, 2018 9:07 am

“... we’ll try to help you find an alternative that meets your needs.”

This, and the fact that they do not provide info on the actual limits apart from saying that they are coming, is not very confidence inspiring. I’ve never looked into ACH limits as I’ve never had a problem, and I’ve stayed at CO360 as I never had any complaints or reasons to look elsewhere. My first reaction upon receiving this email, however, was that I will have to start researching alternatives. At a minimum, I’ll likely take half out of capital one to give myself more transfer space in case I need it. Anyone have any idea which online banks have the highest limits here?

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ReformedSpender
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Re: New Capitol One 360 ACH limits

Post by ReformedSpender » Fri Jun 15, 2018 12:08 pm

I called customer service and asked for more information:

Apparently, external transfers will remain capped at 6 per month and and monetary limits are to be "reduced" to a million dollars per day.
Market history shows that when there's economic blue sky, future returns are low, and when the economy is on the skids, future returns are high. The best fishing is done in the most stormy waters.

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Re: New Capitol One 360 ACH limits

Post by nolaquen » Sun Jun 17, 2018 8:25 am

DouroBound wrote:
Fri Jun 15, 2018 9:07 am
“... we’ll try to help you find an alternative that meets your needs.”

This, and the fact that they do not provide info on the actual limits apart from saying that they are coming, is not very confidence inspiring. I’ve never looked into ACH limits as I’ve never had a problem, and I’ve stayed at CO360 as I never had any complaints or reasons to look elsewhere. My first reaction upon receiving this email, however, was that I will have to start researching alternatives. At a minimum, I’ll likely take half out of capital one to give myself more transfer space in case I need it. Anyone have any idea which online banks have the highest limits here?
We've tried to do wire transfers twice from 360 (as recently as last Oct), and both times were stopped by 360's policy that they only wire funds to escrow companies. Now I can't even find wire transfer instructions on their site. I'm not overwhelmed with confidence that their attempts to find alternatives won't be similarly as frustration-inducing. This new policy was the straw that broke the camel's back (on top of the lack of TOD/POD accounts). I'm in the process of transferring everything elsewhere, and letting these accounts I've had for 15 years close.


Been a lurker for a while. Didn't imagine this would be the topic that would spur me to register.

MDTrek
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Re: New Capitol One 360 ACH limits

Post by MDTrek » Sun Jun 17, 2018 9:18 am

Many banks have very low daily limits, $2K to $10K, along with monthly limits around double these, so when I got the email from CO360 my initial suspicion was they would lower limits to something like what these other banks have, which would be unacceptable. My first thought was they were doing this to prevent interest rate shopping, or at least make it a little more expensive/difficult. It is true you could still pull money rather than push it, though I see some banks even have inbound limits.

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Re: New Capitol One 360 ACH limits

Post by shipwreck » Sun Jun 17, 2018 12:39 pm

ReformedSpender wrote:
Fri Jun 15, 2018 12:08 pm
I called customer service and asked for more information:

Apparently, external transfers will remain capped at 6 per month and and monetary limits are to be "reduced" to a million dollars per day.
Ah shucks... :annoyed

I am still perturbed that no where in the mailing did it say what the new limit was.

illini
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Re: New Capitol One 360 ACH limits

Post by illini » Sun Jun 17, 2018 12:48 pm

nolaquen wrote:
Sun Jun 17, 2018 8:25 am
We've tried to do wire transfers twice from 360 (as recently as last Oct), and both times were stopped by 360's policy that they only wire funds to escrow companies. Now I can't even find wire transfer instructions on their site. I'm not overwhelmed with confidence that their attempts to find alternatives won't be similarly as frustration-inducing. This new policy was the straw that broke the camel's back (on top of the lack of TOD/POD accounts). I'm in the process of transferring everything elsewhere, and letting these accounts I've had for 15 years close.
Been doing the same. Their recent redesign has made simple tasks frustrating. I miss when it was ING.

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Re: New Capitol One 360 ACH limits

Post by LadyGeek » Sun Jun 17, 2018 2:47 pm

This thread is now in the Investing - Theory, News & General forum (news).

I also got the email.

(I'm not happy that they stopped allowing check deposits by uploading a scanned image. You can only upload an image with the cellphone app. That's not gonna happen.)
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deskjockey
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Re: New Capitol One 360 ACH limits

Post by deskjockey » Sun Jun 17, 2018 3:28 pm

I'm also not pleased by this turn of events. Does anyone know whether Ally has any limits on ACH transactions/amounts?

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gasdoc
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Re: New Capitol One 360 ACH limits

Post by gasdoc » Sun Jun 17, 2018 7:40 pm

ReformedSpender wrote:
Fri Jun 15, 2018 12:08 pm
I called customer service and asked for more information:

Apparently, external transfers will remain capped at 6 per month and and monetary limits are to be "reduced" to a million dollars per day.
Can anyone confirm this? I can't imagine this being a problem for me.

gasdoc

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munemaker
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Re: New Capitol One 360 ACH limits

Post by munemaker » Sun Jun 17, 2018 8:36 pm

Probably caused by me. Transferred a large amount of money from Capital One 360 MMF to Vanguard MMF.

Instead of limiting the dollar amount of transfers, a better way to keep (and even increase) deposits would be to pay competitive interest rates.

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Re: New Capitol One 360 ACH limits

Post by Atgard » Sun Jun 17, 2018 8:58 pm

I have also had ING (now CapOne360) for about 14 years. It's been my go-to account, and I was very very pleased with ING. The interest didn't make me rich, but beat 95% of other banks and was usually very competitive (still isn't too bad in their money market account). The website was clean & simple and let me do what I wanted with zero fees ever.

I was skeptical when they turned into Capital One, but they've mostly stayed the same and I've stuck with them. There has been a slow erosion of what I loved about ING. The website is now so oversimplified that it is difficult or impossible to do many of the things I used to do easily (like transferring money, which now uses the abomination known as Zelle). They copied their smartphone app made for 4" touchscreens, which sucks on a 27" computer screen & mouse & keyboard.

I also got the email and am concerned. They have always served as a good ACH hub, with no fees or limits. Other banks often have very low limits (like $2K or $10K per day) on outgoing ACH, or fees, or both.

If the limits are too low (and if not, why not say what they are?), it will be a major issue.

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Re: New Capitol One 360 ACH limits

Post by Atgard » Sun Jun 17, 2018 8:59 pm

illini wrote:
Sun Jun 17, 2018 12:48 pm
Been doing the same. Their recent redesign has made simple tasks frustrating. I miss when it was ING.
Agree 100%. A "simple" interface makes tasks more complicated in this case.

Looking4Answers
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Re: New Capitol One 360 ACH limits

Post by Looking4Answers » Sun Jun 17, 2018 9:08 pm

Atgard wrote:
Sun Jun 17, 2018 8:59 pm
illini wrote:
Sun Jun 17, 2018 12:48 pm
Been doing the same. Their recent redesign has made simple tasks frustrating. I miss when it was ING.
Agree 100%. A "simple" interface makes tasks more complicated in this case.
+1, recently tried to contact customer service to ask a question and after being on hold, transferred, disconnected, etc., finally gave up. Will monitor the situation as I really did not want the hassle of transferring my accounts elsewhere, but am very concerned about if I really needed help if I could get it in a timely manner.

feehater
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Re: New Capitol One 360 ACH limits

Post by feehater » Mon Jun 18, 2018 5:17 am

Atgard wrote:
Sun Jun 17, 2018 8:59 pm
illini wrote:
Sun Jun 17, 2018 12:48 pm
Been doing the same. Their recent redesign has made simple tasks frustrating. I miss when it was ING.
Agree 100%. A "simple" interface makes tasks more complicated in this case.
I recently was applying for a mortgage and needed a mid-month statement to show my account balances. I called customer service and after about 30 seconds of fooling around the terrible new website, he directed me to a back door to get into the old website, where there were so many more and better capabilities. The old website was running slow, but it was still a beauty to behold. I told the CS agent that I missed the old website and he said he heard that a lot.

bgf
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Re: New Capitol One 360 ACH limits

Post by bgf » Mon Jun 18, 2018 7:51 am

i use capital one 360, and i won't need to make transfers out unless there is an emergency. what other banks offer competitive rates but do not have these downsides with capital one?
“TE OCCIDERE POSSUNT SED TE EDERE NON POSSUNT NEFAS EST"

nolesrule
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Re: New Capitol One 360 ACH limits

Post by nolesrule » Mon Jun 18, 2018 12:29 pm

I'm not sure what the criteria is for seeing the "simplified" interface. I wonder if it has to do with having a credit card associated with your username?

When my wife logs in, she sees the simplified user interface. She has a Capital One credit card. When I log in, I see the same old interface that looks like a regular website.

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Re: New Capitol One 360 ACH limits

Post by Grasshopper » Mon Jun 18, 2018 1:38 pm

nolesrule wrote:
Mon Jun 18, 2018 12:29 pm
I'm not sure what the criteria is for seeing the "simplified" interface. I wonder if it has to do with having a credit card associated with your username?

When my wife logs in, she sees the simplified user interface. She has a Capital One credit card. When I log in, I see the same old interface that looks like a regular website.
I like the new "interface" it is just like the android app. I have had the new interface for months, Ms G just went on it last week. So look for it soon. :beer

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gasdoc
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Re: New Capitol One 360 ACH limits

Post by gasdoc » Mon Jun 18, 2018 1:42 pm

nolesrule wrote:
Mon Jun 18, 2018 12:29 pm
I'm not sure what the criteria is for seeing the "simplified" interface. I wonder if it has to do with having a credit card associated with your username?

When my wife logs in, she sees the simplified user interface. She has a Capital One credit card. When I log in, I see the same old interface that looks like a regular website.
Nope. I just got the simplified interface this week. No credit card for me from CapitalOne.

gasdoc

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Re: New Capitol One 360 ACH limits

Post by snowman » Mon Jun 18, 2018 1:46 pm

Got the same email. Been with them since ING days, and pretty much agree with all posts above. While they are not nearly as good as ING was, they were good enough for me to stay. The ACH feature is the best I found among different banks over the years, so my expectation is they will take it down to a market level, meaning there will be little reason to stay. It will all depend on the new T&Cs, but given they are not willing to share them, the change is not going to be positive for customers.

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Re: New Capitol One 360 ACH limits

Post by onourway » Mon Jun 18, 2018 1:52 pm

Agreed that they are becoming less and less competitive. I wouldn't keep my account at all except that my wife also has her account there and is extremely reluctant to make any changes to any of her financial accounts, and their interface is how we tend to pass money back and forth to one another.

Website 'update' is awful. Tried to make a change to a scheduled transfer a few months ago. Was almost impossible to do on the new UI. Took seconds on the old.

We have a bit of gifted stock held with them that is being transferred to ETrade as they shut down their investing platform. I have no interest in opening an account at ETrade and Capital One wants a $70 transfer charge for me to take it elsewhere...

nolesrule
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Re: New Capitol One 360 ACH limits

Post by nolesrule » Mon Jun 18, 2018 2:13 pm

Hehe. After logging into my wife's account I pasted the Capital One 360 main screen URL (from viewing in my account) in the browser and it did load the older main screen.

https://secure.capitalone360.com/myacco ... summary.vm

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Re: New Capitol One 360 ACH limits

Post by jharkin » Mon Jun 18, 2018 2:20 pm

illini wrote:
Sun Jun 17, 2018 12:48 pm


Been doing the same. Their recent redesign has made simple tasks frustrating. I miss when it was ING.
Its been steadily downhill since then, agreed. Its a PIA that simple things like closing accounts is no longer easy. Used to be you just transfer out till its a zero balance and then it closes automatically. That no longer happens. If you search the help for close account you get an old article in the previous UI design of the site with instructions that don't work.

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Re: New Capital One 360 ACH limits

Post by JDDS » Mon Jun 18, 2018 11:49 pm

I got this email as well, and I was disappointed they did not disclose the new limits. I cannot tell how much the security explanation is legit vs. smoke and mirrors.

I have read on depositaccounts.com that Synchrony's ACH limit is $500k; I have never been in a position to test it :)

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Re: New Capital One 360 ACH limits

Post by ReformedSpender » Tue Jun 19, 2018 7:48 am

Called a second time and spoke with a different representative. They also confirmed the new limit to be a million dollars out-going and added that there is a two million dollar limit for incoming transfers PER MONTH

Can't imagine this will affect too many here... but maybe I'm naive

:beer
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Re: New Capital One 360 ACH limits

Post by Ice-9 » Tue Jun 19, 2018 7:54 am

ReformedSpender wrote:
Tue Jun 19, 2018 7:48 am
Called a second time and spoke with a different representative. They also confirmed the new limit to be a million dollars out-going and added that there is a two million dollar limit for incoming transfers PER MONTH

Can't imagine this will affect too many here... but maybe I'm naive

:beer
I had called this morning as well. The rep I spoke with mentioned she was on the managerial team that planned this email and had spoken out that she thought it would confuse a lot of customers the way it was worded but was overruled. She said that, indeed, they have been getting a lot of calls inquiring about the new ACH limits and then a lot of "phew"s when the customers learn it's a million dollars and the limit will never affect them.

onourway
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Re: New Capital One 360 ACH limits

Post by onourway » Tue Jun 19, 2018 7:59 am

Yeah, that was a terribly worded email. Just vague enough to confuse pretty much everyone and for those of us who aren't feeling great about Capital One these days anyhow, open-ended enough for us to assume it means they are leaving themselves open to doing pretty much whatever they feel like.

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Re: New Capital One 360 ACH limits

Post by 220volt » Tue Jun 19, 2018 8:04 am

"If I had only followed the advice of financial analysts in 2008, I'd have a million dollars today, provided I started with a hundred million dollars" - Jon Stewart

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ReformedSpender
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Re: New Capital One 360 ACH limits

Post by ReformedSpender » Tue Jun 19, 2018 8:45 am

220volt wrote:
Tue Jun 19, 2018 8:04 am
Here are details and fine print
https://www.capitalone.com/online-money ... sclosures/
That does not outline any monetary ACH limits, future or present
Ice-9 wrote:
Tue Jun 19, 2018 7:54 am

I had called this morning as well. The rep I spoke with mentioned she was on the managerial team that planned this email and had spoken out that she thought it would confuse a lot of customers the way it was worded but was overruled. She said that, indeed, they have been getting a lot of calls inquiring about the new ACH limits and then a lot of "phew"s when the customers learn it's a million dollars and the limit will never affect them.
So lets go ahead an inundate out customer service line with an outpour of calls instead...

:oops:
Market history shows that when there's economic blue sky, future returns are low, and when the economy is on the skids, future returns are high. The best fishing is done in the most stormy waters.

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Re: New Capital One 360 ACH limits

Post by munemaker » Tue Jun 19, 2018 8:59 am

JDDS wrote:
Mon Jun 18, 2018 11:49 pm
I got this email as well, and I was disappointed they did not disclose the new limits.
On their website, I clicked on TRANSFER. When the TRANSFER screen comes up, it states an amount that is available for the transfer. For example, at this time, I have about $10,000 in checking and $11,000 in MMF. When I click on TRANSFER for checking, it says $10,000 available for transfer. When I click on TRANSFER for MMF, it says $11,000 available. Presumably, these are my transfer limits i.e. I am not currently limited beyond my account balances.

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munemaker
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Re: New Capitol One 360 ACH limits

Post by munemaker » Tue Jun 19, 2018 9:28 am

nolesrule wrote:
Mon Jun 18, 2018 2:13 pm
Hehe. After logging into my wife's account I pasted the Capital One 360 main screen URL (from viewing in my account) in the browser and it did load the older main screen.

https://secure.capitalone360.com/myacco ... summary.vm
How can I tell if I have the older main screen or the newer one?

When I log in, I see my name and a photo in the upper right corner with the Capital One logo in the left corner. Under that is "Good Morning" centered.

Under that, there are 2 rows each with 2 blue rectangles: Capital One Checking (etc.), Venture (etc.), Capital One Savings (etc.), Capital One 360 MMF (etc.)

Under that, 3 clear rectangles in one row: Branch ATM Finder, Creditwise 825, Protect Your Card Online.

Under that, some general links, FDIC, etc.

Am I looking at the new screen or the old one?

Thanks!

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Re: New Capitol One 360 ACH limits

Post by onourway » Tue Jun 19, 2018 9:56 am

munemaker wrote:
Tue Jun 19, 2018 9:28 am

How can I tell if I have the older main screen or the newer one?

When I log in, I see my name and a photo in the upper right corner with the Capital One logo in the left corner. Under that is "Good Morning" centered.

Under that, there are 2 rows each with 2 blue rectangles: Capital One Checking (etc.), Venture (etc.), Capital One Savings (etc.), Capital One 360 MMF (etc.)

Under that, 3 clear rectangles in one row: Branch ATM Finder, Creditwise 825, Protect Your Card Online.

Under that, some general links, FDIC, etc.

Am I looking at the new screen or the old one?

Thanks!
That's the new interface.

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Re: New Capitol One 360 ACH limits

Post by nisiprius » Tue Jun 19, 2018 10:29 am

Got the same email. I was a little concerned that it was a specific notice to me, masquerading as a general notice, retaliation because I'd transferred $10,000 out of my account a few weeks ago, but I guess it's general. My email subject line was "Check out your new transaction limits," as if it were an increase or good news. Since the email didn't say what my new limits were, I went to their website and clicked around for a while and couldn't find them. So I called.

The rep did not confirm the "million dollar" limit others have mentioned. I won't try to reproduce the conversation, beyond this:
Me: "So, come August, there is no way I will be able to know whether I can withdraw any particular number dollars except to try it and see whether it is excepted?"
Rep: "Yes."
LadyGeek wrote:
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...(I'm not happy that they stopped allowing check deposits by uploading a scanned image. You can only upload an image with the cellphone app. That's not gonna happen.)
I, too, am very annoyed that they depositing checks by image upload from a desktop, without providing any other desktop option. I am not ready to put any app onto my cell phone that gives direct access to cash money. They claim it's for "security," but the chances of a thief getting physical access to my cell phone are a lot higher than the chances of one getting access to my desktop computer.
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Re: New Capital One 360 ACH limits

Post by englishgirl » Tue Jun 19, 2018 10:44 am

So nobody knows what the per-transaction limit is? And it seems like they haven't really set one but will vary it depending on the day? I don't like the thought of that. I'd rather know. However, I don't think a million a day limit is going to put a crimp in my style any time soon.

I did run up against the previous per-transaction limit, which was $250,000 (for me, anyway). I paid cash for our current house, and had to transfer about $253k on closing day. After speaking with a couple of representatives who weren't very helpful, suggesting I needed to order cashier's checks (but it was too late at that point to have them sent to me by mail as of course I couldn't go and get one printed in a branch), finally on the third call I got through to someone who suggested we try two transfers one right after another, and that went through without an issue.
Sarah

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Re: New Capital One 360 ACH limits

Post by munemaker » Tue Jun 19, 2018 11:06 am

englishgirl wrote:
Tue Jun 19, 2018 10:44 am
So nobody knows what the per-transaction limit is?
Did you try what I suggested above (repeated here)?
On their website, I clicked on TRANSFER. When the TRANSFER screen comes up, it states an amount that is available for the transfer. For example, at this time, I have about $10,000 in checking and $11,000 in MMF. When I click on TRANSFER for checking, it says $10,000 available for transfer. When I click on TRANSFER for MMF, it says $11,000 available. Presumably, these are my transfer limits i.e. I am not currently limited beyond my account balances.

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Re: New Capital One 360 ACH limits

Post by aj76er » Tue Jun 19, 2018 12:31 pm

I too have been a customer since the ING days (~2005), but lately have noticed a slow deterioration in the website and support. I only use the checking account now as a 'hub' account to pay a few bills. However, I'm considering moving everything over to Ally as the website and support seems much better.
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Re: New Capital One 360 ACH limits

Post by oldhobo » Tue Jun 19, 2018 2:06 pm

munemaker wrote:
Tue Jun 19, 2018 11:06 am
englishgirl wrote:
Tue Jun 19, 2018 10:44 am
So nobody knows what the per-transaction limit is?
Did you try what I suggested above (repeated here)?
On their website, I clicked on TRANSFER. When the TRANSFER screen comes up, it states an amount that is available for the transfer. For example, at this time, I have about $10,000 in checking and $11,000 in MMF. When I click on TRANSFER for checking, it says $10,000 available for transfer. When I click on TRANSFER for MMF, it says $11,000 available. Presumably, these are my transfer limits i.e. I am not currently limited beyond my account balances.
This is transferring between accounts in your Capital One 360 account and not via ACH to / from external accounts. The email from Cap 1 was referencing ACH to / from external accounts.

I called the day the email came out - concerned because I have my paycheck deposited into another bank and I transfer into Cap 1 (and I transfer money to Vanguard and pay bills out of the account - which is still ACH). So I'm a bit conerned. The rep I spoke to had no idea what the limit was going to be and that they were inundated with calls and they received no prior warning of the email nor additional information.

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Re: New Capital One 360 ACH limits

Post by englishgirl » Tue Jun 19, 2018 2:19 pm

munemaker wrote:
Tue Jun 19, 2018 11:06 am
englishgirl wrote:
Tue Jun 19, 2018 10:44 am
So nobody knows what the per-transaction limit is?
Did you try what I suggested above (repeated here)?
On their website, I clicked on TRANSFER. When the TRANSFER screen comes up, it states an amount that is available for the transfer. For example, at this time, I have about $10,000 in checking and $11,000 in MMF. When I click on TRANSFER for checking, it says $10,000 available for transfer. When I click on TRANSFER for MMF, it says $11,000 available. Presumably, these are my transfer limits i.e. I am not currently limited beyond my account balances.
No, I did not. Generally, transfer is the term that they use for transferring from one Cap One 360 account to another, or I guess to a linked external account if you have them (I do not). I only have the option to transfer between various Cap One accounts. It is not how you make an ACH transfer to an external person/account which is what we were talking about. But I just tried it, and as my Cap One 360 still mostly defaults to the "old view" it does not operate the same way as the way you are quoting. It does show me the balance in each account so I guess that is my current transfer limit. Still, wanting to know the overall limit is not the same as being able to see my current limit based on my current bank balances. If I were thinking of selling my current house and depositing the proceeds into my account, it'd be nice to know how much I could then ACH when purchasing the next property.

Edit: re-reading the original email text, it seems to make clear that that it refers to an ACH external transfer to a linked account. What I am referring to with buying a house is a wire transfer, which is similar but different. And the transfer to a Cap One account is again similar but different. So anyway, if we're talking a linked account, which presumably you already own, splitting up your transactions is not such a giant problem. Maybe.
Sarah

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munemaker
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Re: New Capital One 360 ACH limits

Post by munemaker » Tue Jun 19, 2018 5:40 pm

oldhobo wrote:
Tue Jun 19, 2018 2:06 pm

This is transferring between accounts in your Capital One 360 account and not via ACH to / from external accounts. The email from Cap 1 was referencing ACH to / from external accounts.
Sorry...my error

I checked and I don't even have an external account linked from my Capital One 360 accounts. I have been pulling from Vanguard and Fidelity. Presumably that will still work.

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serbeer
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Re: New Capital One 360 ACH limits

Post by serbeer » Tue Jun 19, 2018 6:31 pm

I like their rates and ease of use, but it has been 5 full months now as I've been trying to add my wife as secondary account owner to my Capital One 360 Money Market account and to no avail. I called literally several dozens of times, talked to many customer service representatives and their managers, and got absolutely nowhere.

They all claim they have no way to manually add the second account owner due to security protocols and account integrity safeguards they have in place and I have to follow their automated process when I go into my account, chose her as existing customer (because unfortunately she was ING Direct account owner 13 years ago, so considered existing customer), enter her information and confirm that I want to add her as secondary owner and am told that she has been signed invite to accept joint ownership. Then she goes into her account, sees the invite, choses to accept her and gets this message back on red background: "We're sorry, but we're unable to complete your request at this time. Please try again later."

We've been trying for full 5 months now. She had been opening new 360 accounts, updating her information, etc working with their customer service, and it all failed to do the trick. They keep explaining how it must be due to their security procedures and how it will get resolved after some time, but i just tried again and with the same result. In one of the rare written responses to the ticket that they opened that I received they say "you can try the adding joint holder process periodically over the few weeks." That was in the beginning of March. This is just crazy and I think I exhausted all venues to get it resolved.

I don't really want to leave since a) I've been with ING Direct and 360 for years now b) I am happy with them except this one thing c) I have ATM card, checkbook, etc d) they have one of the best rates and consistently -- unlike most other places I know.

Any suggestions folks? That the only place I know where humans don't appear to be able to overwrite computers or accept written signed request for account title change. And btw, they do not allow to open account under two names either, has to be single name with secondary owner added later, so I cannot open new account in both of our names and move the money there either...

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munemaker
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Re: New Capital One 360 ACH limits

Post by munemaker » Tue Jun 19, 2018 6:54 pm

serbeer wrote:
Tue Jun 19, 2018 6:31 pm
...it has been 5 full months now as I've been trying to add my wife as secondary account owner to my Capital One 360 Money Market account and to no avail. I called literally several dozens of times, talked to many customer service representatives and their managers, and got absolutely nowhere.
Just curious. Why didn't you initially open a joint account with her? The reason I ask is that's what I did and it worked fine. Did you get married after opening the account or what?

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serbeer
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Re: New Capital One 360 ACH limits

Post by serbeer » Tue Jun 19, 2018 11:56 pm

munemaker wrote:
Tue Jun 19, 2018 6:54 pm
serbeer wrote:
Tue Jun 19, 2018 6:31 pm
...it has been 5 full months now as I've been trying to add my wife as secondary account owner to my Capital One 360 Money Market account and to no avail. I called literally several dozens of times, talked to many customer service representatives and their managers, and got absolutely nowhere.
Just curious. Why didn't you initially open a joint account with her? The reason I ask is that's what I did and it worked fine. Did you get married after opening the account or what?
I opened it even before I met my wife, 15+ years ago. It was ING Direct then, and was coverted to 360 later. Plus, read the last sentence of my post as to why I cannot do it now either.

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Re: New Capital One 360 ACH limits

Post by boglerdude » Wed Jun 20, 2018 1:43 am

CapitalOne 360 seems to process ACH transactions in 24 hours, Chase and my credit union take 3 days.

Also they're opening a branch/cafe in downtown LA on Saturday, if you want to yell at them in person :)

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munemaker
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Re: New Capital One 360 ACH limits

Post by munemaker » Wed Jun 20, 2018 8:11 am

serbeer wrote:
Tue Jun 19, 2018 11:56 pm
munemaker wrote:
Tue Jun 19, 2018 6:54 pm
serbeer wrote:
Tue Jun 19, 2018 6:31 pm
...it has been 5 full months now as I've been trying to add my wife as secondary account owner to my Capital One 360 Money Market account and to no avail. I called literally several dozens of times, talked to many customer service representatives and their managers, and got absolutely nowhere.
Just curious. Why didn't you initially open a joint account with her? The reason I ask is that's what I did and it worked fine. Did you get married after opening the account or what?
I opened it even before I met my wife, 15+ years ago. It was ING Direct then, and was coverted to 360 later. Plus, read the last sentence of my post as to why I cannot do it now either.
Yes, this is really strange, I agree. They should be able to easily accommodate what are very common occurrences.

snowman
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Re: New Capital One 360 ACH limits

Post by snowman » Wed Jun 20, 2018 10:48 am

serbeer wrote:
Tue Jun 19, 2018 6:31 pm

I don't really want to leave since a) I've been with ING Direct and 360 for years now b) I am happy with them except this one thing c) I have ATM card, checkbook, etc d) they have one of the best rates and consistently -- unlike most other places I know.

Any suggestions folks? That the only place I know where humans don't appear to be able to overwrite computers or accept written signed request for account title change. And btw, they do not allow to open account under two names either, has to be single name with secondary owner added later, so I cannot open new account in both of our names and move the money there either...
We had kind of a similar problem, although I have not put much time into fixing it. I figured if they cannot fix it, they don’t want a customer.

My kids have had teen accounts since ING days. They both love the interface and ease of transfers between accounts. After reaching 18, my older kid was automatically converted to “adult”, full feature checking account. Then, couple years later, he wanted to be able to pay the bills. He could not. He called, was told it should work, give us a day or 2 to fix it, it didn’t. So I called, and was given the same runaround. Just like you, he really liked Cap One and didn’t want to leave.

I told him this is ridiculous, he needs real functioning checking account, and suggested Fidelity or Schwab where everything is free, including paper checks and ATM withdrawals. He went with Schwab because he could get $100 signing bonus. So that’s where he is. He now uses Cap One only as an ACH hub if needed, but Schwab is his main account.

I guess that's my answer to your question - if the bank cannot fix a problem, you move. Simple as that. The only reason I have not moved yet to Fidelity (my backup checking account) is CapOne ACH speed. It's 24 hours at the most in either direction, and many times almost instant, so it's a perfect ACH hub to move money around among various external accounts. That's hard to beat. My fear is that THIS particular feature will be negatively affected, covered up by raised daily limits. Will wait and see.

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serbeer
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Re: New Capital One 360 ACH limits

Post by serbeer » Wed Jun 20, 2018 6:10 pm

snowman wrote:
Wed Jun 20, 2018 10:48 am
I guess that's my answer to your question - if the bank cannot fix a problem, you move. Simple as that. The only reason I have not moved yet to Fidelity (my backup checking account) is CapOne ACH speed. It's 24 hours at the most in either direction, and many times almost instant, so it's a perfect ACH hub to move money around among various external accounts. That's hard to beat. My fear is that THIS particular feature will be negatively affected, covered up by raised daily limits. Will wait and see.
Hm, it actually is closer to 3 business days for me, but I use 360 Money Market, not Checking account. This is unlikely to be impacted IMO.

Ownership is such a small thing from practical viewpoint, only really becomes important if I die, and even then there is a tiny fraction of networth in this account, like 2%... But the situation is ridiculous of course: human have no power over computers in that place.

onourway
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Re: New Capital One 360 ACH limits

Post by onourway » Tue Jun 26, 2018 9:20 am

Another strike against Capital One 360. Apparently mobile check deposit limits have been greatly reduced. I have been using my 360 account to deposit large checks (5 figures) a number of times per year for years now. Suddenly this morning I am met with a $5,000 limit.

Capital One apparently has a desire to shed good customers.

njuser
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Re: New Capitol One 360 ACH limits

Post by njuser » Tue Jun 26, 2018 9:49 am

jharkin wrote:
Mon Jun 18, 2018 2:20 pm
Its been steadily downhill since then, agreed. Its a PIA that simple things like closing accounts is no longer easy. Used to be you just transfer out till its a zero balance and then it closes automatically. That no longer happens. If you search the help for close account you get an old article in the previous UI design of the site with instructions that don't work.
So how to close?

I thought I was being dumb because I got the email and couldn't find what the new limits are. Reread the email a bunch of times, went to the website, nothing.

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