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Financial Rates:
3.5
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Customer Service:
5.0
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Website Experience:
5.0
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Bank Fees:
5.0
Pros:
- Free checking account for teens
- No fees for any accounts
- Interest earning account for kids
- High-interest rate on money market
Cons:
- Large amount required for highest rates
- Must link savings to checking account
- Teen accounts do not offer checks
- No ATM fee refunds
What You Need to Know
The checking account for teens does not have any fees. The parent can receive text alerts when their account balance is running low. This checking account earns interest. No minimum amount required to open the account or to keep in the account.
There are no fees for any Capital One 360 accounts. There is no minimum required amount to open any of their accounts, or required to stay in the accounts. Capital One 360 accounts are free.
The Capital One 360 savings account for kids pays interest on any amount in the account. There are no fees and no amount required to keep in the account. You will earn the same interest on whatever the balance is. Kids can upload checks through their mobile app. Adults must sign in and use a pin to make transfers out of the savings account.
Capital One 360 offers high-interest rates for their money market accounts. The money market account does not have any fees, and there is no required amount to keep in the account.
To earn the high-interest rates for the money market account, you must have $10,000 deposited. You will earn lower interest rates for any amount under $10,000 in the money market account. To earn the highest interest the $10,000 is necessary.
Capital One 360 savings accounts must link to a checking account when opened. You can link the account to a Capital One 360 checking account or a checking account with another bank. However, the savings account must link to a checking account.
The Capital One 360 checking account comes with a debit card and the possibility of checks. The teen MONEY checking account only comes with a debit card. The teen account does not offer checks.
Capital One 360 does not offer refunds for fees charged at ATMs other than their own. If you use a non-Capital One ATM, you will be charged a fee. Capital One has over 39,000 ATMs across the U.S. Find a Capital One ATM on their website.
Cool Things
Capital One Cafe
Capital One is opening cafes in cities around the United States. At these cafes, coaches will help you set goals and create a financial plan to get there. You can recharge your devices and enjoy free Wi-Fi. Beverages and baked pastries are available to buy. These cafes are places where you can meet with people in your community. You can hold meetings, workshops, or special events. Find a Capital One Cafe close to you on their website.
Text Alerts
Through the Capital One mobile app, you can set up text alerts. Receive a text if something does not seem right with your account or if balances are getting low. The teen MONEY account lets parents receive texts if their teen's account is getting low.
Overdraft Options
Capital One 360 provides different ways to protect your account from overdrafts. You can use Auto-Decline which declines all transactions that would overdraw your account. Next Day Grace means they pay the overdraft transaction and you have one day to repay the amount. An Overdraft Line of Credit covers your amount, but you pay 12.50% interest on the amount you overspent. Free Savings Transfer automatically transfers money from your savings account to cover the amount.
History
Richard D. Fairbank started Capital One in 1988. Fairbank started this company believing that information, technology, and great people could combine to bring highly customized financial products to their customers.
Today Capital One is one of the nation's top 10 largest banks by deposits. It has one of the nation's most recognized brands. They offer online products across the United States. They have branches in New York, New Jersey, Texas, Louisiana, Maryland, and the District of Columbia. Their company headquarters is in Virginia. Capital One is a world-class Fortune 500 company.
Awards and Recognition
- "Companies that Care" by People Magazine
- "America's Best Employers" by Forbes
- "World's Most Admired Companies" by FORTUNE
- "Best Places to Work" by American Association of People with Disabilities
- "Best for Vets" by Military Times
Giving Back
Capital One partners with The Heart of American Foundation for the READesign program. This foundation provides books to children in low-income communities. They also redesigned libraries to encourage more children to read. They have donated new books to these communities. They donate books that promote financial literacy.
In 2006, Capital One partnered with Junior Achievement Worldwide. Seventh and eighth-grade students study about finance in their classroom. Then they get to visit a mobile classroom for a day. Here they get to be "adults for a day." Students practice what they have been studying.
Capital One partners with Safe Horizon to promote justice to victims of abuse and crime. They work together to raise awareness of child abuse and how to get help. They launched a program called Hope Shining. This program helps raise awareness of abuse. It also provides support for those families affected.
Frequently Asked Questions
Yes. Capital One 360 is FDIC insured. The FDIC is an agency of the United States government that protects funds deposited in banks, up to $250,000 per customer, per bank. The money deposited in FDIC insured banks means money is backed by the full faith and credit of the United States government.
The Capital One 360 checking accounts come with a debit card. Other ways to access your money include ATMs or transfers to linked accounts. Checks are available upon request for the 360 checking account.
Yes. You can access all accounts online or with the mobile app. See account balances, make deposits or transfers, set up savings goals, pay bills, or use Zelle.
Yes. There are no monthly service fees. You also don't have to keep a certain amount in any of their accounts.
Yes. They offer competitive interest rates, are secure online, and don't charge fees.
Yes. Capital One 360 is FDIC insured. They also protect you online with a secure login. Capital One sends text alerts for suspicious activity in your accounts. You can turn off your debit card through the app and report fraud on their website.
Yes. The interest rates are significantly higher than other banks. Their rates are also competitive with online-only bank accounts.
The Capital One 360 accounts are only for personal accounts. Other parts of Capital One offer business and commercial accounts. They also offer credit cards, auto lending, and investment opportunities.
The interest rates are higher than other brick and mortar banks. You can do everything online with the Capital One 360 accounts that you can with other banks online banking.
Yes. Both the Capital One 360 checking and the MONEY account for teens pay interest.
By phone, email, or mail.
The Capital One 360 checking account does, but the teen MONEY account does not offer bill pay.
Yes, at a branch location or an ATM. Once you deposit cash, the money cannot be accessed until after four business days.
Yes. You can set up direct deposits from other Capital One 360 accounts or other linked accounts.
Bank Contact Information
Capital OneAttn: General Correspondence
PO Box 30285
Salt Lake City, UT 84130-0285
1-877-514-2265
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| Savings (Rate as of 11/21/2024) | |
| APY | 4.00% |
|---|---|
| Rate | 3.92% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC | |
| Savings (Rate as of 11/21/2024) | |
| APY | 4.75% |
|---|---|
| Rate | 4.64% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC No monthly maintenance fee, $0 to open, easily grow your money | |
The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guarantee the accuracy or availability of any rates shown. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own website where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
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1 APY stands for Annual Percent Yield. It's different from Rate because it takes into account compounding interest for the year.
2 MMA stands for Money Market Account. It's a savings and checking hybrid, allowing you to earn interest and use checks 6 times a month.