Capital One Bank Review: Best For Fee
Editor’s Rating
Good for
Editor’s Rating
Good for
Because Capital One 360 checking and savings accounts operate as an online division of the more traditional Capital One Bank, customers generally must conduct all transactions online. However, limited services are available in Capital One Cafes, where customers can get help opening accounts or basic account information.
One drawback is a lack of variety when it comes to Capital One checking accounts, although there is a checking account for teens, called the MONEY account, offered alongside the standard checking account, 360 Checking. Still, if youre looking for a low-fee, low-minimum, high-yield option and prefer to bank electronically, Capital One 360 may be worth considering.
How Do Capital One Cafs Work
Its like a coffee shop where you can also do your banking. The Cafés offer a different kind of in-person banking experience in a more comfortable environment, where people can have coffee, use free WiFi, do their brick-and-mortar banking transactions and also talk with money coaches who can help answer questions to make decisions about their finances.
Chime Vs Capital One 3: Which Is Better For Online Banking
- Chime and Capital One 360 both have strong high-yield savings and checking accounts.
- Capital One’s savings tools and multiple overdraft protection options give it a leg up over Chime.
- Capital One also has CDs, credit cards, and auto loans, while Chime only has a savings and checking account.
- Read Insider’s full reviews of;Chime and Capital One.
Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, like American Express, but our reporting and recommendations are always independent and objective.
Chime and Capital One 360 are two online banking platforms with excellent checking and high-yield savings accounts. But depending on what you’re looking for, one may be a better fit than the other.
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How To Contact Capital One Customer Service
Capital One has several ways to contact its customer service. If youre partial to phone calls, heres the information you need:
- 800-655-2265, for Capital One banking support in U.S.
- 800-227-4825, for Capital One credit card products in U.S.
- 877-442-3764, for Capital One online banking assistance
If youre calling internationally, youll need to first get in touch with an international operator. Tell them youre calling the U.S. collect and provide this number: 804-934-2001. When asked for a name, just say youre a Capital One customer.
Capital One Checking Accounts
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No-fee and no-minimum checking accounts make Capital One a great choice for fee-conscious customers with smaller bank balances. Many banks offer ways to avoid their monthly fees by keeping larger balances or making qualifying transactions, such as debit card purchases Capital Ones free accounts dont require jumping through such hoops. Although the rates are modest, all of Capital Ones free checking accounts do pay interest, something not all banks can offer.
One of the definite perks of the Capital One Bank structure is that it straddles the line between online and traditional banking. Although customers enjoy the no-fee, no-minimum, interest-bearing accounts that are the hallmark of online banks, those in select areas still have the ability to visit a Capital One Cafe. This can be handy for certain transactions, including depositing cash or checks at an in-Cafe ATM. However, most customers will likely facilitate the remote capabilities of Capital One more regularly, as mobile deposit is available via the app and fee-free transactions are offered at over 40,000 Allpoint and Capital One ATMs.
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How To Log In To Your Capital One Bank Account From A Mobile Phone Or Tablet
Having your banking information at your fingertips could help you become more proactive in taking charge of your finances. Thankfully, thats easy to do if you have a Capital One account. You can download the app to both Apple and Android devices easily.
Once youve downloaded and opened the app, youll be prompted to log in. After youve logged in, youll have the ability to deposit checks, set automatic bill pay and see a history of transactions at any time.
Review: Should You Open A Capital One Bank Account
Capital Ones primary appeal is to online banking customers. Although there are Capital One Cafes where you can get branch assistance, the banks 360 products are modeled after online-only banks that offer no-fee accounts and pay higher yields than traditional banks such as Chase and Bank of America.
Capital One 360 checking and savings accounts pay higher than average yields, but they dont reach the lofty heights of many online banks. For example, the Capital One 360 Performance Savings account offers a 0.4% APY, which is about 8 times the national average savings APY of 0.05%. However, that yield is still below those of online competitors such as Ally Bank, which offers a 0.5% APY on its online savings account.
Still, this collection of no-fee checking, savings and CD accounts that pay much more than traditional banks may merit a look. For example, as an incentive to sign up, Capital One promoted a $100 bonus to customers who signed up for 360 Checking by Jan. 26, 2021, and spent at least $300 on their debit card within 90 days of opening the account.
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How Capital One Stacks Up
People who are looking for an all-in-one personal banking solution should consider Capital One 360 Banking. It offers versatile accounts to fit most needs, including childrens accounts, individual retirement accounts and CDs to pair with its savings and checking offerings, Capital One. Custodial account options make Capital One a top choice for family banking, too, creating long-term connections with customers.
While it does have branches in some states, access is mostly online and through the mobile app at this time. Capital One Cafés are a unique customer experience available in some;cities. They are basically Peets Coffee shops combined with a relaxing banking environment, where people can do everyday banking and get money coaching. Its hard to imagine these cafés becoming a regular sight in smaller towns, though.
If you live or work near a Capital One branch or Café;and like the option of banking in person or online, Capital One is a solid banking choice. If you like the personal touch of a local bank branch, most people will need to turn to other banks instead.
When choosing a bank, its important to take note of whats important to you and find a solution that fits those needs.
Open Capital One Bank Account Online
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How To Access My Capital One Account
Capital One offers different financial products, but the process for accessing them is basically the same. You can call and follow the pre-recorded prompts or speak with a human, you can log in to your online account from your computer or you can check your account using the Capital One app from your phone.
You’ll need to set up your online account first. When using a phone call to access your account information, you’ll need to provide one or more pieces of information to verify it’s you.
Read More: How to Activate a Capital One Credit Card
Accessing Your Account Online
To get your credit card balance, transaction history, APR, balance offers, credit score and other information online, visit the Capital One website. If it’s your first time, you’ll need to set up an account. According to the Capital One website, you’ll need to provide:
- Yourcredit card number
- The three-digit security code on the back of your card
Follow the directions to enroll. Once you have enrolled, review the various options you have for accessing your information. If you have multiple Capital One cards, you can link them to one online account. Once you log in, you’ll see your different cards. Click on the account you want to access.
Read More: How Do I Cancel My Capital One Credit Card?
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Heres How To Activate Credit Cards From Major Issuers:
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Issuer |
Where can I check my credit card application status?
You can check your credit card application status either online or over the phone, depending on the credit card company. Many credit card applicants receive a decision within minutes, but it can take longer if the issuer needs more information or if its a close call between approval and rejection. Some credit card applications stay in pending status for up to 30 days.read full answer
All major credit card companies allow applicants to check their status by calling the main customer service line and following the prompts. Most major issuers including American Express, Bank of America and Citibank also offer a way to check your credit card application status online.
How to Check Your Credit Card Application Status with Major Issuers:
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Capital One 360 Performance Savings
APY
0.40%
With $0 minimum balance
The Capital One 360 Performance Savings Account interest rate is 0.40% APY, significantly higher than the national average of 0.06%. Thereâs no minimum deposit required to open one, and no monthly maintenance fee.
» Compare Capital One’s savings rate with other online banks’ high-interest savings accounts.
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Can’t Set Up Online Banking For Capital One
I’ve followed all the directions but it’s just not working. I go to the “Download Transactions” window and I get a message box that says before I can download transactions I must set up online banking, to click “setup” and follow the instructions.I click “setup.” It asks me to find my bank, I do…I choose “Capital One-New.” I click Next. Then it says I need to go to the capital one website and download a statement and import it onto QB. I go there, all that’s available is a pdf form, so I download it.;Then it says to go to the Download Transactions window and select the import file icon to import your statement. But when I open that window, the file I just downloaded is grayed out and unselectable.;What now?
Money Teen Checking Account
Parents looking for excellent banking options for their kids should check out Capital Ones MONEY Teen Checking account. Its a joint account that gives both teens and parents access online and through the mobile app.;It also comes with a free debit card, which can be used for purchases and at ATMs across the country.
Although its called a teen checking account, its available to any kids eight years old and older. It carries no monthly fees and has no minimum opening deposit or minimum balance requirements. MONEY Teen checking accounts earn interest, too, with 0.10% APY.
Once teens turn 18 years old, they can open a 360 Checking account and transfer over their teen checking account funds.
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Capital One Vs Td Bank
TD Bank has more than 1,200 branches located in the Eastern U.S. Its banking accounts are also more traditional than those of Capital One, in that they mostly come with monthly fees that can only be avoided through qualifying activities. For example, the TD Convenience Checking account its most popular, according to the bank charges a whopping $15 monthly fee, although that can be avoided with a modest $100 daily balance. The TD Beyond Savings account requires a very high $20,000 minimum to avoid its $15 monthly fee. Beyond this, the typical litany of big bank fees apply, such as a $35 overdraft charge, a $3 fee to use non-TD ATMs and a $15 fee for incoming wires.
Capital One clearly has the edge on TD Bank when it comes to fees and account minimums. TD Banks strength relative to Capital One comes in its customer service. Between extensive branch locations albeit exclusively along the Eastern seaboard and 24/7 customer service, TD Bank customers can easily access help when they need it.
Editorial Note: The content of this article is based on the authors opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.
Which Is More Trustworthy
Capital One and Chime each have a recent controversy.
Capital One paid $80 million after the Office of the Comptroller of the Currency stated that the bank was partially responsible for a 2019 data breach in which a hacker accessed over 100 million credit card applications. The OCC said Capital One’s security was inefficient at the time.
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Chime reached a settlement with the California Department of Financial Protection and Innovation for using the URL “Chimebank.com” and the words “bank” and “banking,” even though Chime isn’t licensed to work as a bank. Although Chime is insured through a bank, it’s technically a banking platform, not a bank.
The Better Business Bureau measures companies’ trustworthiness by evaluating responses to customer complaints, honesty in advertising, and transparency about business practices. The BBB gives Capital One an A;and;Chime a B in trustworthiness. Chime has a B mainly because it hasn’t responded to all of the customer complaints on the BBB website.
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Using A Mobile Banking App
You can learn about the features of Capital One’s online banking app via the company’s website. You can download the app from Apple’s App Store or Google Play. Once the app loads, follow the directions to set up your account.
You’ll need your account information to set up your app, similar to what you need to set up your online account access. If you want added security, don’t allow your phone to save your password for the app.
About The Capital One 360 Savings Account
Yes, as a blogger, I am an affiliate of Capital One 360, but their savings account is one of a few financial products I would enthusiastically recommend without being paid for it.
The is simple, secure, and friendly.
The first thing you need to know is that Capital One 360 is not a physical bank .
Capital One is trying a mixed model. You have your online banking, but they also have;physical locations;in eight states. These include:
- Connecticut
- Virginia
- DC
So yes, Capital One has branches in the United States, but for the most part, youre dealing with an;online savings account;here.
If this idea scares you, think about the last time you actually went into a physical banking branch to deposit or withdraw money. For most of us, its probably been a long time.
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A: Follow These Steps
If you are having problems accessing your account, you will want to go to the Online Banking Support page.
Just a reminder that representatives that are not as busy will be more patient with you. When you call, make sure you have your information ready, such as your account number, and explain what the problem was.
Try not to get angry; the person you are speaking with has no control over whether the companys website is working or not. If they cannot help you, ask to speak to a supervisor.
Bottom Line:
Capital One Savings Accounts
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Capital Ones 360 Performance Savings account checks all of the main boxes when it comes to an online savings account: This includes no fees, no minimums and an above-average yield, although it cant compete with many online banks that offer even higher APYs.
The Kids Savings account is an option for children under the age of 18. When an account holder reaches age 18, this savings account for kids automatically converts into a 360 Performance Savings account. The no-fee, interest-bearing account can be a good way to teach kids how to save, as it includes an automatic savings plan and allows users to set up specific savings goals.
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Which Card Do You Have
Different Capital One cards have different phone numbers on the back. That means getting a generic customer service number from an online search might not get you to the account you want.
For example, as of August 2021, Capital One’s GM Flexible Earnings Mastercard shows a customer service phone number of 800-947-1000. Capital One’s Platinum Mastercard shows 800-227-4825.
When you call those numbers, you might be prompted for your zip code, the last four numbers of your card or the last four digits of your Social Security number. Using the number associated with your particular card should get you where you want to go in the quickest manner possible.
As of August 2020, the Capital One website offers 888-464-7868 as the number to access its automated system 24/7. To speak with a live representative, call 800-289-1992 from 8:00 a.m. to 8:00 p.m. seven days a week.
Whatever number you use, an automated phone system or customer service rep should be able to help you. You might need to provide your entire card number and other information if you call another of Capital One’s numbers. If you have Capital One checking or savings accounts, the process is similar.
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