I opened an account at Capital One and made a first deposit of $150. Three days later I went to the bank to deposit more and they told me my balance was $0.00. What happened was they that took my deposit without any notice to cover a five year old debt from another bank they acquired. They say I owed the old bank money. Can they take my money without notice? Is this legal?
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Whether or not the bank's actions were legal depends on the laws of the state in which the bank is located. The bank is using what it perceives to be its right of offset against your account to recover money owed.
To learn whether the offset was legal given the age of the debt, talk to a legal aid office for your county, or any other attorney with knowledge of state offset requirements, provided he or she will give you a first session free of charge. Any other legal approach would eat up your $150 as you open the door.
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Whether or not the bank's actions were legal depends on the laws of the state in which the bank is located. The bank is using what it perceives to be its right of offset against your account to recover money owed.