Capital One offers a full range of investment services, including a free online checking account with a host of features that make banking easy. As of March 2018, the Federal Reserve ranked Capital One No. 9 out of 1,812 commercial banks in the U.S. And the Capital One 360 Checking account ranked No. 1 for customer satisfaction in the J.D. Power 2017 U.S. Direct Banking Satisfaction Study.
Take the time to learn more about online banking and see whether the Capital One 360 free checking account provides benefits your current account doesn’t.
Capital One 360 Checking Account Review
The Capital One 360 Checking account is fee-free, even for Capital One or Allpoint ATM transactions. And you earn interest on your balance at the following rates:
- Up to $49,999.99: 0.20% APY
- $50,000 to $99,999.99: 0.75% APY
- Over $100,000: 1.00% APY
Capital One’s online banking lets you deposit and transfer funds using your computer or mobile device. Additionally, you can download the bank’s app to make mobile check deposits, locate ATMs, pay bills and send digital payments.
Pros and Cons of Capital One 360 Checking
Review these advantages and disadvantages of the Capital One 360 Checking account to decide if it’s right for you:
- No minimum deposit or balance requirements: You’ll never be penalized if your checking account balance is low.
- Free credit monitoring: Download the free CreditWise app to view your credit score and get email alerts if anything changes.
- Mastercard debit card: You’ll automatically receive a Mastercard debit card when you open a 360 Checking account.
- Nonsufficient funds fee: You’ll pay $9 for each returned check even if overdraft fees are waived.
- Paper statement fee: Capital One banking statements are free to print and download, but you’ll pay $5 to receive paper statements by mail.
- Limited ability to deposit cash: You can deposit cash to your online checking account only at ATMs that accept deposits.
- No 24/7 customer service: You can reach customer service only between 8 a.m. and 11 p.m.
Capital One Products and Services
You can link your 360 Checking account to other Capital One products, including investing accounts. Capital One 360 reviews indicate that moving money between linked accounts is quick and easy.
Find Out: Here’s Your Capital One Routing Number
Should You Switch to Capital One Bank?
A 360 Checking account is a good choice if you live near a Capital One Cafe or any of the 39,000 Capital One or Allpoint ATMs. Security is a top priority for this online bank, so you can feel confident your personal information will be protected. And 24-hour online and mobile accessibility gives you the flexibility to bank when it’s most convenient. But if you find it easier to bank at physical branch locations, this might not be the bank for you. Wherever you decide to open a bank account, your top priority should be fulfilling your personal financial needs.
More on Checking Accounts
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- Here’s Exactly How Much You Should Have Saved in an Emergency Fund
- ATM Withdrawal Limits at Chase, Wells Fargo and 48 Other Banks
Alicia Bodine contributed to the reporting for this article.
Rates are accurate as of July 10, 2018.
GOBankingRates is a personal finance and consumer interest rate website owned by ConsumerTrack, Inc., an online marketing company serving top-tier banks, credit unions, and other financial services organizations. Some companies mentioned in this article might be clients of ConsumerTrack, Inc., which serves more than 100 national, local and online financial institutions. Rankings and roundups are completely objective, and no institution, client or otherwise, paid for inclusion or specific placement. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone and have not been reviewed, approved, or otherwise endorsed by the companies included in the article. All fees and rates are subject to change at the issuers’ discretion. Some interest rates might be short-term or promotional offers only, and it is possible additional terms and conditions must be met in order to obtain the interest rates listed. Rates and availability might vary by region. Verify terms and conditions before opening an account.