Is it good to bank with Capital One?
Capital One was named best big bank and best bank for ATM access as part of the 2024
Your money is safe at Capital One
Capital One, N.A., is a member of the Federal Deposit Insurance Corporation (FDIC), an independent federal agency.
Capital One stands out with one of the best combinations of online bank perks — no checking or savings fees, a competitive savings rate and high CD rates — and a brick-and-mortar presence. It offers a top-of-the-line bank experience with strong customer support and doesn't charge any overdraft fees.
So, if you prefer higher savings rates and lower fees on your banking accounts, then Capital One might be your choice. However, if you want to keep all your money in one place, and like the option of in-person banking you might want to consider Chase.
- Higher interest rates than the biggest national banks.
- Few or no fees.
- No minimum balance requirements.
- A highly-rated mobile app.
- A limited number of physical branch locations.
- Savings rates are never the highest: While Capital One 360 Performance Savings account has high rates, they are never the highest on the market.
- Few local branches: Branches are few and far between.
Fitch Affirms Capital One at 'A-'/'F1'; Outlook Stable. Fitch Ratings - New York - 21 Feb 2024: Fitch Ratings has affirmed Capital One Financial Corporation's (COF) Long- and Short-Term Issuer Default Ratings (IDRs) at 'A-' and 'F1', respectively, and has affirmed the bank's Viability Rating (VR) at 'a-'.
- Capital One 360 Checking: Best online checking account.
- Chase Total Checking®: Best for a large branch network.
- Axos Bank Rewards Checking: Best for online account options.
- Discover® Bank: Best for doing all of your banking at one place.
- Synchrony Bank: Best high-yield savings account.
Capital One is a subsidiary of Capital One Financial Corporation, a U.S.-based bank holding company headquartered in McLean, Virginia and founded in 1994. Capital One has been a subsidiary of Capital One Financial Corporation since it was established as a separate division of the company in 1994.
| Rank by Asset Size | Bank Name | Number of Branches |
|---|---|---|
| 6. | PNC Bank | 2,400 |
| 7. | Goldman Sachs Bank | None |
| 8. | Truist Bank | 2,000 |
| 9. | Capital One | 300 branches and 50+ Capital One Cafes |
Why not to bank with Chase?
Chase offers many term lengths, but most rates are disappointing. Compared with what you can find at online banks, Chase's minimum deposit requirement is higher and its rates are much, much lower.
Manage your money quickly and easily with 360 Checking—whether it's online, in person or with our mobile app. All with no minimum balance required and no monthly fees.
What are the top five banks in America? The top five banks in America are JPMorgan Chase, Bank of America, Citibank, Wells Fargo and U.S. Bank.
What is the offer? Earn a $350 bonus after opening a new 360 Checking account and receive at least two qualifying direct deposits of $250 each within 75 days of opening your account. Your deposit must be “externally sourced funds,” meaning they come from a source not affiliated with Capital One.
deposit of at least $250 • No monthly service charge when you keep a minimum daily balance of $300 or more in this account OR • You receive at least one direct deposit in the amount of $250 or more each statement cycle.
Is Capital One Good for Savings? Unlike other banks that charge monthly fees and require minimum deposits of $500 or more, Capital One's savings accounts have no minimum deposit or monthly fees. Capital One is a good choice for those looking for a basic savings account to save for their goals.
No, because prescreened offers and pre-approval involve a soft inquiry. Also known as a soft pull or soft credit check, a soft inquiry doesn't affect your credit scores. The soft inquiry is simply a way for lenders to determine whether you may qualify for their credit card offer.
For example, pre-approval at Capital One uses soft credit checks, which involve a simple review of credit and don't affect scores. Will opening a new credit card affect your credit scores? Yes, opening a new credit card can affect your credit scores temporarily.
Money coach and certified financial planner Ohan Kayikchyan says it can make sense for a household to maintain four accounts: one checking account for monthly recurring bills and another for variable expenses, plus one savings account for emergency funds and a second for other savings goals.
Have you stayed up to date on your payments? If you're behind on your payments, your card may be restricted, and transactions can be declined. If this happens, get in touch with us to figure out how we can help, such as setting up a payment plan. You can also enroll in Autopay to help avoid missed payments.
Why do I worry about bank capital?
Banks decide for themselves, but regulators all over the world require banks to hold a certain amount of capital—calculated as a percentage of their assets—so they are less likely to fail, seek a government rescue, or trigger a financial crisis.
What's required to open a checking account is probably right at your fingertips. If you open it in person, you'll likely need two forms of ID (such as a driver's license, Social Security card, passport or birth certificate) and proof of address (by way of a utility bill, mortgage statement, lease or similar document).
| RANK | BANK NAME | PREVIOUS RANK |
|---|---|---|
| 1 | JPMorgan Chase | 1 |
| 2 | Bank of America | 2 |
| 3 | Wells Fargo | 4 |
| 4 | Citigroup | 3 |
- Ally Bank.
- Citizens Bank.
- Bank of the West.
- US Bank.
- SunTrust.
- Union Bank.
- Wells Fargo.
- HSBC.
- JP Morgan Private Bank. “J.P. Morgan Private Bank is known for its investment services, which makes them a great option for those with millionaire status,” Kullberg said. ...
- Bank of America Private Bank. ...
- Citi Private Bank. ...
- Chase Private Client.
References
- https://www.fdic.gov/resources/resolutions/bank-failures/in-brief/index.html
- https://www.nerdwallet.com/article/banking/largest-banks-in-the-us
- https://www.nerdwallet.com/best/banking/free-checking-accounts
- https://valueinvesting.io/PNC/probability-of-bankruptcy
- https://www.creditdonkey.com/safest-banks-in-the-us.html
- https://www.fdic.gov/resources/resolutions/bank-failures/in-brief/bfb2024.html
- https://finance.yahoo.com/news/7-bank-stocks-least-likely-192442317.html
- https://www.capitalone.com/learn-grow/money-management/how-preapproval-affects-credit-score/
- https://www.nerdwallet.com/article/banking/best-banks-and-credit-unions
- https://www.usatoday.com/money/blueprint/banking/wells-fargo-vs-bank-of-america/
- https://privatebank.jpmorgan.com/nam/en/insights/wealth-planning/jp-morgan-private-bank-is-named-2024s-worlds-best-private-bank-for-the-fifth-year-in-a-row
- https://www.marketwatch.com/guides/banking/bank-of-america-review/
- https://www.cityam.com/payments-regulator-names-worst-banks-for-fraud-reimbursement/
- https://www.brookings.edu/articles/what-is-bank-capital-what-is-the-basel-iii-endgame/
- https://www.capitalone.com/help-center/credit-cards/credit-card-declined/
- https://www.visualcapitalist.com/visualizing-the-investments-of-the-ultra-wealthy/
- https://www.aba.com/about-us/our-story/aba-history/1782-1799
- https://finance.yahoo.com/news/7-banks-dump-now-bust-234758659.html
- https://www.capitalone.com/learn-grow/money-management/how-applications-affect-credit-scores/
- https://www.quora.com/Has-a-bank-ever-refused-to-give-you-your-money
- https://www.capitalone.com/bank/money-management/banking-basics/how-to-open-a-checking-account/
- https://www.cnet.com/personal-finance/banking/advice/the-biggest-banks-in-the-us/
- https://www.forbes.com/advisor/banking/chase-vs-wells-fargo/
- https://www.thepennyhoarder.com/bank-accounts/worst-banks/
- https://www.marketwatch.com/guides/banking/largest-banks-in-the-us/
- https://www.noradarealestate.com/blog/which-banks-are-in-danger-of-failing/
- https://www.noradarealestate.com/blog/list-of-failed-banks/
- https://www.noradarealestate.com/blog/is-bank-of-america-in-trouble/
- https://www.forbes.com/advisor/banking/ways-to-insure-excess-deposits/
- https://www.forbes.com/advisor/banking/list-of-failed-banks/
- https://www.nerdwallet.com/reviews/banking/chase
- https://www.bankrate.com/banking/list-of-failed-banks/
- https://www.bankrate.com/banking/biggest-banks-in-america/
- https://www.linkedin.com/posts/sameer-merchant-cfa-04636218_these-are-the-10-hardest-investment-banks-activity-7124771664764030976-DyWU
- https://www.businessinsider.com/personal-finance/list-of-bank-failures
- https://www.tipranks.com/stocks/bac/ownership
- https://www.emarketer.com/insights/largest-banks-us-list/
- https://en.wikipedia.org/wiki/List_of_largest_bank_failures_in_the_United_States
- https://www.capitalone.com/bank/checking-accounts/online-checking-account/features/
- https://www.investopedia.com/deposit-insurance-keeps-bank-accounts-safe-even-if-its-funding-runs-dry-7496229
- https://en.wikipedia.org/wiki/Joseph_Safra
- https://www.thestreet.com/personal-finance/banks-most-at-risk-morningstar
- https://www.npr.org/2023/03/14/1163497069/two-u-s-banks-have-collapsed-since-friday-should-you-be-worried
- https://wallethub.com/answers/cc/who-owns-capital-one-1000011-2140827721/
- https://www.fitchratings.com/products/rating-definitions
- https://www.nerdwallet.com/reviews/banking/capital-one-bank
- https://www.americanbullion.com/can-banks-seize-your-money/
- https://www.marketwatch.com/guides/banking/list-of-failed-banks/
- https://www.businessinsider.com/personal-finance/best-banks
- https://www.globalpolicyjournal.com/blog/24/03/2023/three-banks-have-now-collapsed-progressive-economist-explains-why
- https://integratedcashlogistics.com/bank-closures-news/
- https://www.forbes.com/advisor/banking/safest-banks-in-the-us/
- https://www.cnet.com/personal-finance/banking/advice/what-happens-to-my-money-if-my-bank-closes-down/
- https://finance.yahoo.com/news/4-most-popular-banks-millionaires-150054420.html
- https://money.com/best-banks/
- https://www.fitchratings.com/research/banks/fitch-affirms-capital-one-at-a-f1-outlook-stable-21-02-2024
- https://freefrombroke.com/the-8-least-evil-banks/
- https://finance.yahoo.com/news/banks-best-dealing-identity-theft-130001499.html
- https://www.nerdwallet.com/best/banking/best-national-banks
- https://www.usatoday.com/money/blueprint/banking/capital-one-vs-chase/
- https://apnews.com/article/wells-fargo-comptroller-of-currency-sales-practices-scandal-d3f41b3dbab4de74462fd3fe2585d50e
- https://www.forbes.com/advisor/banking/how-to-choose-a-bank/
- https://www.forbes.com/advisor/au/banking/big-four-banks/
- https://www.investopedia.com/terms/t/too-big-to-fail.asp
- https://www.capitalone.com/media/doc/personal-banking/essential-checking-pew.pdf
- https://smartasset.com/checking-account/chase-vs-wells-fargo
- https://www.forbes.com/advisor/banking/capital-one-promotions-bonus/
- https://time.com/personal-finance/article/chase-vs-bank-of-america/
- https://www.usnews.com/banking/articles/credit-union-vs-a-bank
- https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/
- https://www.wsj.com/buyside/personal-finance/capital-one-bank-review-6c03a1b0
- https://www.moneycrashers.com/too-big-to-fail-bank/
- https://www.usnews.com/banking/articles/how-many-bank-accounts-should-i-have
- https://www.usnews.com/banking/reviews/ally-bank
- https://www.nerdwallet.com/best/banking/checking-accounts
- https://www.news18.com/business/are-these-3-indian-banks-too-big-to-fail-read-to-know-more-7326211.html
- https://www.forbesindia.com/article/explainers/the-10-largest-banks-in-the-world/86967/1
- https://www.cnet.com/personal-finance/banking/advice/best-banks-for-customer-experience/
- https://www.kiplinger.com/personal-finance/banking/study-reveals-the-most-trusted-bank
- https://www.linkedin.com/pulse/10-worst-banks-america-karen-e-peyton-
- https://www.capitalone.com/bank/fdic/
- https://www.forbes.com/advisor/banking/most-popular-banks-by-state/
- https://www.cnbc.com/2022/12/27/how-bofa-came-back-from-the-brink-of-collapse.html
- https://en.wikipedia.org/wiki/History_of_banking
- https://www.investopedia.com/capital-one-savings-account-interest-rates-7497281
- https://www.lifestoryresearch.com/2022-americas-most-trusted-retail-bank
- https://smartasset.com/checking-account/how-the-rich-bank-differently-from-the-rest-of-us
- https://en.wikipedia.org/wiki/List_of_largest_banks_in_the_United_States
- https://www.jagranjosh.com/general-knowledge/list-of-largest-banks-in-the-world-1706509334-1
- https://www.usnews.com/banking/articles/is-my-money-safe-at-the-bank
- https://www.investopedia.com/capital-one-review-4801658
- https://www.marketwatch.com/guides/banking/chase-review/
- https://www.fool.com/the-ascent/banks/safest-banks-in-the-us/
- https://www.forbes.com/advisor/banking/largest-banks-in-the-us/
