The Capital One 360 Savings account is all about convenience and low costs. Without the overhead of physical branches, Capital One can offer an account free of fees and minimum balance requirements while paying an above-average interest rate. People who require online and mobile access to their savings might prefer this Capital One Savings account over a more traditional, branch-based institution. Here’s a look at the ins and outs of this online savings account, including its features and benefits.
Capital One 360 Savings At-a-Glance
Here’s an overview of the Capital One 360 Savings Account
- Free transfers from any external or Capital One account
- Mobile check deposit from the app
- Access to online bill pay
- Digital person-to-person payments via Zelle
- Pay card-free with Apple Pay, Samsung Pay or Google Pay
- Track credit score for free using CreditWise
Capital One 360 Savings Account Pros
Check out the advantages of this savings account from Capital One:
- No maintenance fees
- No minimum balance
- No initial deposit required
- 1.90% APY
Capital One 360 Savings Account Cons
Here are some cons to consider:
- APY is above average but not among the highest rates available
- Cannot make in-branch deposits
- Only six withdrawals allowed per month
What You Need to Know About Capital One 360 Savings
Capital One 360 Savings is an online account with a variety of services and an APY far above that offered by the average national bank. With its offerings and limitations in mind, the Capital One 360 Savings account is best for those comfortable with an online banking experience and seeking a high-yield, low-fee savings account.
Best Features of the Capital One 360 Savings Account
The Capital One 360 Savings interest rate is the standout feature of the account. Although not the absolute best rate in the market, it’s much higher than the national average rate. Additionally, many other banks carry high account minimums or require a minimum balance, which this account does not.
On top of the above-average interest rates and lack of monthly maintenance fees, the Capital One 360 app is top-rated, allowing you to check your balance from anywhere and deposit checks remotely. Customers who don’t keep close tabs on their account balance might appreciate the Capital One 360 overdraft policy, as the bank doesn’t allow overdrafts on this savings account.
Secondary Features of Capital One 360 Savings
Beyond the signature features of the account, Capital One 360 reviews compliment the extensive, no-fee ATM network, consisting of more than 39,000 Capital One and AllPoint locations. Existing customers in need of assistance can contact Capital One customer service from 8 a.m. to 11 p.m. ET, seven days a week, at 888-464-0727.
Capital One 360 Savings Is Best for Tech-Savvy Users
Current banking trends are moving toward convenience for those at ease with online and mobile banking technologies. However, customers who still prefer the personal touch of an in-person banker, or those who aren’t completely comfortable handling all their financial information online, might prefer a more traditional, brick-and-mortar experience than that offered by Capital One savings.
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This content is not provided by the companies mentioned. 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 Capital One Bank.
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