Capital One 360 Checking Account Review: Is It Worth It?
Written by
Joshua Rodriguez
Edited by
Melanie Grafil
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GOBankingRates Score
Capital One
-
APY
4.0
-
Benefits
5.0
-
Online Tools
5.0
-
Customer Service
4.0
Pros
- No minimum deposit
- No fees
- Free instant alerts
- 70,000 fee-free ATMs to choose from
Cons
- You can't deposit cash in partner ATMs, only through partner stores
- Capital One 360 Checking offers a 0.10% APY
Capital One 360 Checking Account Overview
Is Capital One 360 checking worth it? The Capital One 360 checking account is an impressive offering that comes with no fees, no minimum balances, and plenty of tools. Unlike most traditional checking accounts, Capital One offers interest on balances you hold in your account with APY. Although that’s not the highest interest you might find, it’s also not the lowest.
When you open a Capital One 360 checking account, you automatically gain access to Capital One’s robust online banking platform. The platform features Capital One’s award-winning mobile app alongside a host of effective online tools to help you manage your money.
That means you’ll get to take advantage of features like automatic bill pay, money transfers between friends and access to your free credit score. You’ll also be able to access your money two days faster (on average) with direct deposit. Sure, you’ll have to travel to a local CVS, Walgreens, or other partner store if you’d like to add cash to your account, but that hassle may be worth the perks.
Key Features
If you’re thinking about opening a Capital One 360 checking account, some of the most important features to consider include:
APY
Capital One 360 offers a APY on all balances. While this APY isn’t necessarily anything to write home about, it is well above the current the national average APY of 0.07% on checking accounts, according to the FDIC.
Benefits
There are several benefits to opening a Capital One 360 checking account. Some of the most exciting include:
- No fees: Capital One doesn’t charge pesky monthly maintenance fees, or any other checking account fee for that matter.
- No minimums: You won’t have to worry about maintaining a minimum balance either. There are no minimums on Capital One 360 checking accounts.
- Credit monitoring: Get access to your free credit score and tips to help you improve it.
Thanks!
Online Tools
Capital One’s online banking tools are some of the best in the industry. Some popular online tools include:
- Automatic saving: Set up automatic transfers to put your savings on autopilot.
- Mobile deposits: Deposit money using your mobile phone from anywhere in the world.
- Digital payments: Get access to Zelle for easy digital payments.
Customer Service
Capital One has been serving customers for decades. As such, you might expect that the company has some of the world’s leading customer service teams. However, there have been some complaints circulating online about the company’s inability to resolve some customer issues. So, some customers have reported less than positive experiences.
How the Capital One 360 Checking Account Stands Out
The Capital One 360 Checking account stands out in multiple ways. First and foremost, it’s a fee-free account that offers a return on your idle cash. Moreover, Capital One offers a robust set of online tools that can not only help you manage your finances, but completely take control of them. You can access your credit report and tips to improve it while putting your savings and bill payments on autopilot.
Comparable Online Checking Account Options
If you’re interested in an online checking account but the Capital One 360 account doesn’t work for you, consider one of the following options:
Discover
Discover offers a fee-free checking account that gives you rewards with debit card purchases. You can also send money with Zelle, access your paycheck two days early and take advantage of a network of more than 60,000 ATMs.
SoFi Checking
SoFi checking offers up to APY on their no-fee checking accounts. The account also features automatic savings tools and overdraft protection.
How To Open an Account
It’s easy to open a Capital One 360 checking account. Simply head to the Capital One 360 web page and click the blue “Open Account” button. Once you do, follow the prompts to complete the account opening process.
Who the Capital One 360 Checking Account Is Best For
This account may be best for consumers looking for a convenient online checking option that comes with robust money management tools. However, if you’re looking to earn more in interest or want impeccable customer service, this offer may not be for you.
Final Take
The Capital One 360 Checking account is a compelling offering for anyone looking for a free checking option that also provides a little more in the way of financial planning with money management tools. If that’s you, consider opening an account today.
FAQ
- Is Capital One 360 a real checking account?
- Yes, the Capital One 360 checking account is a real checking account. Not only is the account offered by a highly reputable financial institution, but money in Capital One 360 accounts is FDIC-insured, a staple feature of legitimate deposit accounts.
- Is there a minimum balance for Capital One 360 checking?
- The Capital One 360 checking account has absolutely no minimum balance. You can access the account whether you have a couple of dollars or a couple hundred thousand dollars to open it with.
*Capital one interest rates accurate as of April 3, 2024. See website for all current rates.
Savings vary depending on account usage and payment behavior.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on promotions is accurate as of April 3, 2024. Additional requirements may apply. Offers and terms are subject to change.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
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