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Capital One Small Business Reviews: Insights From Clients
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Capital One 360 Bank Review 2023
Annual Percentage Yield (APY) Chevron Icon Indicates an expandable section or menu, or in some cases previous/next navigation options.
Bottom line: Capital One is a solid bank overall. Online savings accounts and CDs offer competitive interest rates.
For a savings account with a $0 minimum opening deposit and no monthly service fee, Capital One 360 Savings Performance may be a good fit.
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When we rate banks, we consider ethics, customer support and mobile apps. Factors such as interest rates, minimum opening deposits and fees are considered when evaluating a particular bank account. Learn more about how Insiders rate checking and savings accounts and how we rate CDs.
Capital One is a solid bank overall. Online savings accounts and CDs offer competitive interest rates.
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This savings account requires no initial deposit, no minimum account balance, and no monthly service fees.
The performance savings interest rate is quite high. You can get higher rates at some of the other big banks, but this is definitely one of the best. Children can earn 2.50% Annual Percentage Yield (APY) on the Children’s Savings Account and when they turn 18, the interest rate jumps to the regular interest rate.
This savings account allows you to save easily for various purposes. Set a savings goal and target amount, then schedule regular transfers from your checking account until the full amount is saved.
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Capital One doesn’t charge foreign transaction fees, so it’s a great option for the casual traveler. There are no monthly fees and you get two strong overdraft services: free savings transfer and free overdraft.
Free savings transfers allow you to link your checking account to your savings account. If you overdraft your checking account, Capital One will make a transfer to cover your overdraft.
A fee-free overdraft is a service where Capital One allows check payments, bill payments or recurring debit payments, even if your account balance is negative. To qualify, you must have received at least $250 in direct deposits in two of the last three months.
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The account also has an early direct deposit feature, which allows you to receive your paycheck up to two days earlier.
Capital One’s CD rates are quite competitive, but you may find better CD rates at other online banks. The term of this institution’s CD is between 6 months to 5 years. Capital One differentiates itself by not requiring an initial deposit to open a CD. Most banks require a minimum of $500.
Some banks offer more types of CDs, such as no-penalty CDs and jumbo CDs. The only option here is a regular CD.
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Between Capital One ATMs and partner ATMs, you have access to over 70,000 ATMs nationwide. Your bank won’t charge you if you use an out-of-network ATM, but we won’t refund any out-of-network fees charged by your ATM provider.
When you set up an online account, you can chat with a live customer service representative 24/7. If you would like to speak with an agent over the phone, you can call us from 8 a.m. to 11 p.m. E.T.
The website is easy to navigate and the mobile app has a rating of 4.9 out of 5 stars in the Apple Store and 4.6 out of 5 stars in the Google Play Store.
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The bank has more than 280 branches in Washington, DC, as well as Louisiana, Maryland, New Jersey, New York, Texas and Virginia. There are also dozens of Capital One Cafes where you can sip Peet’s Coffee®, talk to a money coach, open a bank account and more.
Capital One 360 is your bank’s online operation. If you live near a branch or cafe, you can enjoy a hybrid experience of banking in person and online. You can also do your banking entirely online using Capital One 360.
The Better Business Bureau rates companies on how they handle customer issues and manage transparency. Capital One 360has an A- rating on the BBB website due to the high volume of customer complaints. A good BBB rating shows that a company responds effectively to customer complaints, has honest advertising efforts and is transparent in how it conducts its business.
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However, the company has had some controversies recently. The bank paid $80 million after the Office of the Comptroller of the Currency announced it was partially responsible for a 2019 data breach in which hackers accessed more than 100 million credit card applications. The OCC said Capital One’s security at the time was inadequate.
Your bank account is FDIC insured up to $250,000 and up to $500,000 for joint accounts.
Capital One 360 does not have a money market account, so Ally Bank is your most likely option.
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For savings accounts, it could be a close call between Ally and Capital One 360. Each account has a similar structure to a savings account.
If you’re considering opening a checking account, Capital One might be more appealing. We’ll give you more ways to access your account. The bank also has physical locations in several states and a larger ATM network.
If you’re trying to choose between Chime and Capital One 360, the latter has the strongest account overall. Savings pay high interest rates, and CDs also have high interest rates. Chime, on the other hand, doesn’t offer CDs at all.
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To qualify for a savings account, you must open a checking account with Chime. Its checking account is solid, but there are fees for using out-of-network ATMs, and it doesn’t have as many overdraft options as Capital One.
Discover Bank requires a minimum of $2,500 to open a money market account, while Capital One 360 does not have any money market accounts at all.
Regarding the CD, it will be a discussion between the two institutions. Both banks offer the same rate in most terms, so in the end it may come down to how much you need to open the CD.
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Capital One offers great personal and business credit cards. The best Capital One credit cards offer great travel benefits and cash back options. Many of them, like the Capital One Venture X Rewards Credit Card and the Capital One Spark Cash Plus†, also have significant sign-up bonuses if you meet certain criteria.
Is Capital One a good bank? Chevron Icon Indicates an expandable section or menu, or in some cases previous/next navigation options.
Yes, Capital One is a good bank overall. We pay competitive interest rates, charge minimal fees and have strong overdraft protection options. This bank is also suitable for opening credit card points.
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Is Capital One a safe place to leave your money? Chevron Icon Indicates an expandable section or menu, or perhaps a previous/next navigation option.
Yes, this bank is federally insured by the FDIC. If your bank is insured, it means your money is safe even if your bank closes. FDIC insured keeps $250,000 safe in an individual account and $500,000 safe in a joint account.
Can I deposit cash into my Capital One 360 account? A chevron icon indicates an expandable section or menu, or in some cases previous/next navigation options.
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You can deposit cash into Capital One
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