When opening a checking or savings account, what are the features and benefits that you expect the most? When looking at this bank, you’ll find accounts with minimal costs and high rates. To find out if Capital One 360 is right for you, continue reading this review below.
Capital One 360 is an online bank offering great banking services and high savings. They offer savings, checking, CDs, and money market accounts. Since it is an online only bank, they have less overhead, which translates to higher interest rates, better service, and no monthly fees.
Table of Contents
- 1 Checking Account Options
- 2 Compare Checking Accounts
- 3 Savings Account Options
- 4 Compare Savings Accounts
- 5 CD Account Options
- 6 Compare CD Accounts
- 7 Reasons To Bank with Capital One 360
- 8 Reasons Not To Bank with Capital One 360
- 9 Capital One 360 Routing Number
- 10 Contact Customer Service
- 11 How Capital One 360 Compares
- 12 Compare to Other Banks
- 13 Bottom Line
Checking Account Options
Capital One 360 offers 2 checking accounts. The first one offers a high interest rate and a wide variety of benefits to choose from. Although they don’t offer great variety, they make up for it with their minimal costs.
This checking account has no fees, no minimum deposit, and no minimum ongoing balance. It offers an above average interest rate compared to other checking accounts.
There are also a bunch of neat benefits, including the ability to withdraw money from over 39,000 Capital One ATM’s for free.
This account is specially made to help teenagers learn about managing their finances. It is a joint account that is shared between the teenager and the parent.
The teenager will be able to spend and make their own decisions while the parent can log in and see what they are spending on. When the teenager turns 18, the account can be rolled into the 360 Checking.
Compare Checking Accounts
Open your Huntington 25 Checking account today and enjoy:
• $300 bonus by making cumulative new money deposits of at least $25,000 within 60 days of account opening. $500 will be deposited in your new account within 14 days of meeting requirements.
• 24-Hour Grace Overdraft Fee Relief. It is designed to give you more time to make a deposit in order to avoid an Overdraft Fee.
• Earn Interest on Balances. 0.05% Annual Percentage Yield applies to all balance tiers.
• Free ATM Withdrawals. They’ll waive all non-Huntington ATM cash withdrawal fees at any ATM and reimburse you for some withdrawal fees charged by another ATM owner.
• Waived Monthly Maintenance Fee
• Credit score and identity monitoring at no added cost
Savings Account Options
Capital One 360’s saving accounts don’t offer the highest rates out there, but they make up for it by offering a good variety and have no fees attached with the accounts. You can open up to 25 savings account with them if you so choose, which can be of great use if you have multiple goals you are working towards.
While this account doesn’t have as high of an interest rate as some of the other online banks, it has no fees or minimum deposits.
If you are with this bank for the checking account only, don’t be afraid of putting some of your cash in here. The rate isn’t too bad, even if it’s lower than some of the others.
Much like the Money Teen Checking, this account is designed to help a young one get better with finances. This is a joint account between you and your kid, but they don’t have control over the balance.
The account offers a good interest rate, so the kid can watch their money grow. This account has minimum deposit or monthly fees.
This money market account has no fees or minimum deposits required to open it. This account has 2 tiers of interest rates. The higher version can be earned with a balance of $10,000. This rate is higher than the savings and does not offer check writing.
Compare Savings Accounts
With the American Express® High Yield Savings Account:
• Earn 0.40% APY on your deposits. Your High Yield Savings account earns interest daily and is posted to your account monthly.
• Links easily with your current bank accounts. No need to switch banks.
• FDIC Insured. Your account is insured to at least $250,000 per depositor.
• No monthly fees, no minimum balance.
• 24/7 Account Access
With the CIT Bank Savings Builders account:
• Earn a top tier, competitive APY on your money—one of the top savings rates in the nation. Earn 0.40% APY on your funds - grow your savings faster.
• Build a habit of savings. Pay yourself first. Start with $100 per month and build your habit of savings-—all while getting a top rate.
• FDIC Insured
Open a Discover Online Savings Account for all these features:
• Bonus offer applies for your first Discover Online Savings Account
• Earn $200/$150 Bonus with promo code HMB21 by 12/15/2021
• Fund your first savings account with at least of $25K within 30 days of account open date to earn the $200 Bonus
• Fund your first savings account with at least of $15K within 30 days of account open date to earn the $150 Bonus
• Earn high interest rate of 0.40% APY
• No minimum opening deposit, no minimum balance requirement, and now no fees
• Interest on Discover Online Savings Accounts is compounded daily and credited monthly
• Manage your account online or with the Discover mobile app
• FDIC insurance up to $250,000
See advertiser website for full details
CD Account Options
Down below are how you can earn a higher interest rate by obtaining a CD account with Capital One 360 Bank.
Capital One 360 has CD terms ranging from 6 months to 5 years. There is no minimum deposit to opening an account and the CD offers a higher rate than the 360 Savings. It is best advised to not withdraw any money before the maturity date expires as it could result in penalties. You are allowed to open up to at least 5o CDs.
The other option is an IRA CD, which includes tax benefits. The 360 IRA CD comes with a 360 Savings account, so, when your IRA CD has reached its maturity date, you can then transfer it to your 360 Savings.
Compare CD Accounts
• Available online nationwide
• Earn 0.30% APY on a 12-Month CD Term
• Earn up to 0.50% APY
• $1,000 minimum to open
• Selection of terms to meet your needs
• A range of choices. Low minimum deposits.
• No fees to open or maintain the account
• Available as Custodial
• Open a CIT Bank Certificate of Deposit Account today!
With the CIT Bank No-Penalty 11-Month CD:
• Earn 0.30% APY on your funds with just a $1,000 minimum deposit.
• The perfect balance between a great fixed rate and flexible money access.
• Access funds, if needed. No penalty.
• No opening or maintenance fees
• Shorter 11-month timeframe and a great APY
• If you need your funds prior to the maturity date, you can withdraw your money — including any interest earned — beginning seven days after the funds have been received. No penalty. No problem. It's the security of a CD with the flexibility to access your funds early if you need them.
• Available nationwide online, Discover offers CDs with some of the highest & most competitive rates! with select terms as short as 3 months up to 120 months
• Rates ranging from 0.20% APY up to 0.80% APY.
• Opening a Discover Bank Certificate of Deposit is extremely quick and easy.
• Funds on deposit are FDIC-insured up to the maximum allowed by law.
• Start today with a minimum deposit of $2,500!
• Get started and open a Discover CD in 3 easy steps.
Reasons To Bank with Capital One 360
- There are no monthly service fees. This allows the user to not have to worry about any extra payments, and help them to save up their hard earned cash
- This makes it easier to stay organized and reach your goals faster. You can have up to 25 savings accounts. If you have multiple goals you want to save up for, this is a very useful feature.
- There is no minimum required balance on deposit products.
- You have 24/7 access to your account. Since this bank is online only, they have specialized in making it as accessible as possible through either your phone or mobile device.
- You can make mobile deposits in a matter of minutes and can use your camera app to take pictures of checks.
- You can easily transfer money to your friends and family, even if they don’t use Capital One. Use Zelle in your mobile app to do this.
- If you really need it, you can get in-person help in some select cities. This is very unique for an online bank. They have 27 Capital One Cafes throughout the country that are there to help you out
- You can get phone support every day from 8 AM to 11 PM.
Reasons Not To Bank with Capital One 360
- Capital One’s Money Market account doesn’t come with check writing privileges or an ATM card.
- You may experience long hold times on deposited checks. Online banking does provide its challenges, which includes held funds. Capital One 360 often holds your funds for up to five business days if the deposit exceeds $5,000.
- You cannot assign beneficiaries. Capital One 360 does not allow you to designate a beneficiary on their bank accounts. So if you died, your account will go to probate court.
- You may wait a while talk to a customer service representative.
- You can’t open an account at their branch. Because they are an online only bank, you can only open their 360 accounts online. If you are local to one of their cafes, you can get support, but account openings are strictly an online process.
- You want a business savings account. Capital One 360 is an online only bank for consumers. If you want an account for your business, you should visit a Capital One branch to open a Business Savings account.
Capital One 360 Routing Number
The main routing number is 031176110. Since this is an online only bank, they only have one specific routing number
Contact Customer Service
Reach Capital One 360 24/7 Interactive Phone Service at 1-888-464-7868. Speak to an Associate at 1-800-289-1992 from 8 AM to 8 PM, 7 days a week.
How Capital One 360 Compares
- Chase Bank: Chase is one of the biggest banks in the U.S and offers just about almost everything. Compared to its other competitors, Chase offers much more checking account options.
- Bank of America: As one of the larger banks in the U.S. Many may choose BoA for the convenience of locations through out 35 states. However, BoA offers limited account options.
- Regions Bank: While the checking options are similar, there is a wider variety of savings, CDs, & IRA options to help you save. The cash back rewards program is also very similar. You can find Regions Bank across 15 states.
- SunTrust Bank: As a Southeastern bank, SunTrust prides themselves in top-tier customer service. SunTrust offers a comparable selection of checking & savings accounts in comparison. However, you’ll need $100 to open an account at SunTrust. The bank also offers a cash back rewards program & a small number of checks come free with each checking account.
Compare to Other Banks
- Capital One vs Wells Fargo
- Capital One vs Citibank
- Capital One vs HSBC Bank
- Capital One vs TD Bank
- Capital One vs Discover Bank
- Ally Bank vs Capital One
- M&T Bank vs Capital One
- Bank of America vs Capital One
If you prefer to do your banking online without many requirements towards opening a checking or savings account, then Capital One 360 might be the right fit for you.
You’ll be investing time and money into these institutions and will need to make the right choice, so be sure the bank/credit union will offer you what you need.
However, keep in mind that when you look for a checking or savings account be sure to look into all the fees charged. Don’t focus on the interest rate alone, but on what the account will cost you overall.
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