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.
*View the latest Capital One Promotions here and Capital One credit card offers here.*
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
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.
Compare Savings Accounts
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
| Service Credit Union | 4.25% APY 9-Month CD | Review |
| Western Alliance Bank | 4.50% APY 3-Month CD | Review |
| Western Alliance Bank | 4.40% APY 6-Month CD | Review |
| First Tech Federal Credit Union | 4.35% APY 13-Month Share Certificate | Review |
| Sallie Mae | 4.35% APY 10-Month CD | Review |
| Western Alliance Bank | 4.25% APY 12-Month CD | Review |
| Ponce Bank | 4.25% APY 3-Month High Yield CD | Review |
| Sallie Mae | 4.25% APY 14-Month CD | Review |
| Ponce Bank | 4.15% APY 4-Month No-Penalty CD | Review |
| Live Oak Bank | 4.10% APY 12-Month CD | Review |
| Live Oak Bank | 4.10% APY 12-Month Business CD | Review |
| First Mid Bank & Trust | 4.08% APY 9-Month CD | Review |
| Discover Bank | Up to 4.00% APY CD | Review |
| Sun Canyon Bank | 3.87% APY 11-Month CD | Review |
| Western Alliance Bank | 3.85% APY 5-Month CD | Review |
| Quontic Bank | Up to 3.75% APY CD | Review |
| GreenState Credit Union | 3.65% APY 10-Month CD | Review |
| Blue Federal Credit Union | 3.55% APY 15-Month CD | Review |
| Blue Federal Credit Union | 3.50% APY 9-Month No Penalty CD | Review |
| CIT Bank | 3.50% APY 13-Month CD | Review |
| CIT Bank | 3.50% APY 11-Month No-Penalty CD | Review |
| Southwestern National Bank | 3.40% APY 8-Month CD | Review |
| Ponce Bank | 3.00% APY 1-Month High Yield CD | Review |
| CIT Bank | 3.00% APY 6-Month CD | Review |
| CIT Bank | 3.00% APY 18-Month CD | Review |
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
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Bottom Line
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.
If you’re interested in banking with Capital One 360, see our list of the latest Capital One 360 bank bonuses! For more options from a variety of banks, see our list of the best bank promotions!
Helpful Tips:
- What Are Capital One’s Hours?
- How To Open a Capital One Account
- How To Find and Use Your Capital One Login
- Capital One Routing Number
Capital One, I found out is the worst bank I could have deposited my check from my job. At first the bank manager was nice enough to help me open a new checking account. I deposited my check and yes the check cleared quickly. My on line app for Capital One stated my funds were available the very next day. When I went to withdraw some money, I was told my work check was fake. The teller belittled me by saying in not too many words that I am a criminal and that Capital One will never do business with me again. A couple of days later I received an email saying that the check was good and to destroy the check and to come on in or conduct my business online. When I tried to get money to pay some bills I was again told check was fake. I asked the customer service agent to please send me an email or letter stating that the check was fake. She told me that wasn’t policy. I again received an email saying that all money will be sent to me in a check in 10- 12 business days. Mind you I don’t have a criminal record or broken any laws. Capital One made me feel like I did something fraudulent and wrong. If asked I will never endorse Capital One 360 banking. Through all this I was given the complete run around.
I will never give these jokers any money ever again. Customer service is absolutely horrible.
Thank You Danny. I opened up a Cap One 360 account and deposited 10k. Cap One said the offer expired until I gave them the Save200 code. They credited my account immediately. Never give up till you get the money
Please note this seems to be a targeted offer per fine print: you must have received an email or mail piece directly from Capital One with a promotional code. You can try contacting Capital One CSR at 1-800-289-1992 and see if they can offer you this deal.
If not, you can try looking into the Discover $150/$200 promo instead:
https://www.hustlermoneyblog.com/discover-bank-online-savings-review/
Danny, The SAVE200 promo code received a response-that is was not valid- for my 360 Money Market application.
When can the account be closed after receiving the $200 promo?
Hi Mary,
Good to hear and thanks for letting us know.
September 2017 – Live in Denver and was able to use the Seattle targeted offer for $200 for opening a CapitalOne 360 money market account. Saw a warning while signing up, but after funding the account, the $200 was deposited. MY200. If I remember right, you do not see a spot to put in a code if you click the link above. Good luck.
I opened my account June 5 2016. I hadn’t seen any bonus so today I chatted with them online. They “confirmed” there was no $200 bonus promotion “at that time” and so I don’t get the bonus I singed up for. Liars…
Do you have to have a Capital One credit card to get the targeted offer?
I live in NH and I received a notice about the $200 promotion around 12/18/16. I’m not sure if it was when I logged into my Capital One Credit Card account, or through some other source. I opened the account online on 12/23 and it was not funded until 12/28/16. The disclosure says the account is not technically considered open until it is “funded.” I’m trying to find the promotional language to see if I have to have 2 direct deposits within 60 days of opening online, or within 60 days of actually being “funded,” as the disclosure statement reads. Do you have access to this information? Thanks.
I got a sign in Bonus for $400 and don’t live in the boston area
This has gone nationwide, for anyone wondering. Targeted in the midwest.
What if I stop the direct deposit after my initial 2 deposits am I still eligible for the $200
Thank you for informing us, TomT! The post has been updated.
I spoke with a Capital One rep and confirmed that this $200 checking account offer is only targeted for people living in the Boston, MA area. I was not eligible. However, they said this was a test offer and could be expanded to a wider area in the near future. They did say that the system verifies your location – she did not mention verifying an email distribution list, so applying via the link will not work if you live outside of the Boston area (however they may define that). The one piece of good news is that this is NOT restricted to those w/o any prior Capital One or ING banking relationship, as their savings account bonuses had been.