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A full-service online bank with no monthly fees
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Kevin Payne is a freelance writer specializing in credit cards, student loans, personal finance, and travel.
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Updated April 11, 2024
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Reviewed byEbony Howard
Ebony Howard is a certified public accountant and a QuickBooks ProAdvisor tax expert. She has been in the accounting, audit, and tax profession for more than 13 years, working with individuals and a variety of companies in the health care, banking, and accounting industries.
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Known for its extensive credit card offerings, Capital One purchased online bank ING Direct in 2012 and changed the name to Capital One. Since, then Capital One has grown into a full-service online bank, although there are limited branches in select U.S. states. Pros & Cons Pros Competitive interest rates Mobile banking options No monthly maintenance fees Cons Savings rates are never the highest Few local branches Company Overview Table of Contents Capital One Review Pros Explained Cons Explained Best for Bank Offerings Other Products Customer Service How to Bank Final Verdict Methodology Capital One should appeal to consumers looking for a full-service, online bank. It may be a good fit for customers who want to: As a full-service online bank, Capital One offers: 360 Performance Savings Performance Savings is Capital One 360's high-yield savings account. It yields a 4.25% APY, which is higher than what many online banks offer, but not the highest available. Interest is earned regardless of your balance. Performance Savings accounts come with: Kids Savings Account Parents who want to open a savings account for their children should check out Capital One's Kids Savings account. Perfect for kids of all ages, this account also has no monthly maintenance fees or minimum balance requirements. It yields a 2.50% APY. As a custodial account, both parents and children can access a Kids Savings account, although transfers require logging in under the parent's account. Once a child turns 18, the account is automatically converted into a 360 Savings account. 360 Checking Capital One 360 also has a tiered rate interest-bearing checking account—360 Checking—which currently earns a 0.10% APY for all tiers. Features include: MONEY Teen Checking The bank's other checking account is geared toward teenagers, although children ages eight and up are eligible to open one. MONEY Teen Checking accounts come with debit card access, but no check-writing privileges. Both teens and parents can access the account. Parents can also track account activity through text alerts and email notifications. When teens turn 18, they have the option to open a 360 Checking account and transfer the funds over from their MONEY account. 360 CDs CDs are available for a variety of terms ranging from six months to five years. Interest tops out at 4.80% APY, which is good compared to the best CD rates available right now. There is no minimum deposit required. There is a penalty if you decide to withdraw funds, other than the interest earned, before the end of your CD term. CDs for 12-month terms or less come with a penalty of three months' interest and those with longer terms levy a penalty of six months' interest. Customers with 360 CDs choose how interest is paid, either monthly or annually. Interest is transferred to another Capital One account or another linked bank account. Capital One offers a wide range of credit cards including travel rewards cards, cash back cards, a student card, a secured card, and several business credit cards. Here are some of the cards available: Travel Credit Cards Cashback Credit Cards Student Credit Card Secured Credit Card Business Credit Cards On top of personal banking products, Capital One also has a wide array of other accounts and services including: Customer service is available in a variety of ways, including: Customers can also track their accounts through a mobile banking app, which includes mobile deposit and bill pay features as well as access to your credit score and a card locking feature. The app has outstanding reviews, currently, a 4.9 out of five on the App Store and 4.6 rating on Google Play as of March 2023. Capital One bank accounts are opened online through the Capital One website. Customers can use an existing Capital One login or create a new one. You'll need to input personal information like: Capital One is a great banking option for individuals comfortable doing most of their banking online. There are enough account options to appeal to a wide range of people. With few local branches, most banking is either done through an online account or Capital One’s mobile app. It’s not the right bank for you if you enjoy stopping in at your local branch for an in-person banking service.While Capital One doesn’t offer the highest rates compared to other banks, its rates are consistently high overall. Investopedia is dedicated to providing consumers with unbiased, comprehensive reviews of banks. We collected over 20 data points across more than 80 banks including products available, interest rates, fees, and accessibility to ensure that our content helps users make the right decision for their savings and banking needs. Article Sources Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in oureditorial policy. Capital One. "360 Performance Savings." Capital One. "Kids Savings Account." Capital One. "360 Checking Account." Capital One. "360 CD Account Disclosures." Capital One. "Online CD Savings Accounts & Interest Rates." Pros Explained
Cons Explained
Who Is Capital One Best for?
What Does Capital One Offer?
Savings Accounts
Capital One 360 Savings Accounts Account Name Min Opening Deposit Monthly Fee APY 360 Performance Savings $0 $0 4.25% Kids Saving $0 $0 2.50% Checking Accounts
Capital One 360 Checking Accounts Account Name Min Opening Deposit Monthly Fee APY 360 Checking $0 $0 0.10% MONEY Teen Checking $0 $0 0.10% CDs
Capital One 360 CD Rates TERM APY 6 Months 4.25% 9 Months 4.25% 12 Months 4.80% 18 Months 4.45% 24 Months 4.00% 30 Months 4.00% 36 Months 4.00% 48 Months 3.95% 60 Months 3.90% Credit Cards
Other Financial Products Offered by Capital One
Capital One Customer Service
How to Bank With Capital One
Final Verdict
Methodology