Capital One 360 has spilled over from credit cards to checking and savings account with the completely virtual bank. Apply online in a snap, and Capital One can have you set with a no-hassle, all-the-bells-and-whistles checking and savings account, CD or accounts for the teens in your life. A free budget tool is among the extras tossed in to the standard mobile banking account, along with a tie-in to the new Apple pay option.

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The Good

  • Services and features
  • Great benefits
  • Stock trading

Services and Features

Capital One 360 provides an online banking platform that gives constant access for users to their accounts and financial data. Whether users take advantage of the online or mobile banking feature, Capital One 360 customers are essentially just one click away from complete financial management. Despite providing a comprehensive online platform, Capital One also has dedicated Associates who are available to meet and talk when needed.

There are three basic accounts offered through the Capital One online banking system. These accounts include: checking, savings, and capital one investing accounts. Each comes with its own unique features and services. All accounts through Capital One 360 are broken down as follows:

360 Checking:

  • No fees, no minimums
  • 40,000+ free ATMs nationwide
  • Mobile check deposit

Great Benefits

With 360 Checking, a free MasterCard debit card is provided for any and all purposes. All clients will also receive a checkbook free of charge and have access to mobile deposit. The 360 Checking account can be covered with overdraft protection as well. There is the free savings transfer which is a free option where Capital One will pull funds directly from a current 360 Savings account to pay the overdraft amount (as long as there is enough to cover the amount). There is also the option for Overdraft lines of credit where users pay interest only on the amount borrowed.

The 360 checking rates are 0.1998% with 0.20% APY for an account balance of $0-$49,999.99. The interest rate for accounts with $50,000.00-$99,999.99 is 0.7474% with 0.75% APY. Lastly, with accounts over $10,000.00 receive an interest rate of 0.8963% and 0.90% APY.

360 Savings:

  • Join millions of Savers
  • No fees, no minimums
  • FDIC-Insured

The 360 Savings account has a high interest rate in comparison to other online banks. Clients can earn an everyday interest rate on their money, which is currently sitting at 0.75% APY. Capital One 360 clients can also "stash cash" by opening multiple savings accounts and then tracking them with savings goals. All deposits are backed by the FDIC up to $250,000 per depositor. Users can also deposit checks from anywhere using a mobile device or computer.

Capital One Investing

  • Low $6.95 online trades
  • No account minimums to open
  • Get up to a $600 bonus

Stock Trading

Capital One Investing clients can trade stocks and exchange-traded funds online for a low price. There is no minimum to open an account and users can transfer money from and to Capital One 360 accounts for free. Consumers can also find investments that are right for their financial situation with Capital One 360 research tools, third-party stock ratings and analyst reports. The bonus feature is broken down as follows:

Screen Shot 2016-08-10 at 1.31.12 PM

Those that bank with the new Capital One 360 bank will likely find more cash, due to the truly 'free checking' account. No fees, no hidden charges, no minimum amounts due. Download their mobile app for your iPhone or iPad and have the extra convenience of paying with the new Apple Pay option. Checkmate allows a nearly-instate upload of a paper check. Additionally, Capital One 360 Bank has over 3,800 free Allpoint ATMs nationwide.

The Bad

  • Mixed reviews
  • Security in services
  • Online depositing

Mixed Reviews

There have been mixed reviews from customers online. In general customers that belonged to ING were pleased with the service and most of those customer are now pleased with Capital One 360 but there are a few who are not. One noteworthy aspect of the positive reviews by customers online are the reviews about customer service.

Security in Services

Securities and services are also a concerns for both prospective and current Capital One 360 users. While accounts are backed by federal insurance, not all Capital One 360 amenities are. It is important for users to know that securities and services are:

  • Not FDIC Insured
  • Not bank guaranteed
  • May lose value
  • Not a deposit
  • Not insured by any Federal Government Agency

Online Depositing

For those who prefer old school depositing over mobile uploads, this account probably wouldn't be the way to go. Although, paper checks can still be snail-mailed to the bank's headquarters for manual deposit, but that would result in a long, long wait time. Other than that, this online bank doesn't really lack for anything.

The Bottom Line

Capital One is a well-established company that seems to offer just about everything an Internet bank should. Sign up is easy, and is highly recommended as likely the easiest and most secure online banks on the market today. Those that use Capital One 360 for online banking can expect the following from the service:

  1. High interest rates on checking and savings accounts
  2. Bonuses and features associated with investment accounts
  3. Online and mobile banking available
  4. Concerns over securities and services

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User Reviews

Star Rating

3.0
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7 Reviews

Review Breakdown

5 star
29%
4 star
14%
3 star
0%
2 star
29%
1 star
29%

Sentiment Criteria

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KevinB
June 18th, 2019 Brooklyn, NY DETAILS
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Capital One is basically broken. Their website has so many broken functions and really no way to notify them about the failed functionality. Fox example, I wanted to download transactions for the last quarter. I could only get it do find the last 30 days, even when I repeatedly entered the dates for the first quarter. Just doesn't work. If you dispute a transaction, the only way for them to allow you to dispute it is to cancel your card (basically preventing access to your account) rather than contacting the merchant. If you are someone who has business accounts and personal accounts, you are only allowed to have one debit card, and it can only access one of your accounts (of your choice). But it's not possible for them to let you access your other accounts with your one card, and they won't give you a separate card to access your business accounts at an ATM, so it's just a waste. The list goes on and on. I would highly recommend going to a different, full service back ~ their systems at least work.

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Julie Filips
March 6th, 2018 Bedford, TX

Great CD rates. TERRIBLE on-line help and links for an on-line bank! System always seems like it is down too. Can't see anything that you need to do. Seems hidden. I tried to update my external accounts and attempted to change my primary account; but then needed to transfer money from another of my external accounts. The CD drop-down did not show all of the accounts! The one I needed became invisible for opening the CD. Cancelled out and did not create the CD; might try again after the external accounts are changed again. Terrible web System! Also frequently down.

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Sarah Coats
December 14th, 2017 Sandy, UT DETAILS
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I love Capital One! They have awesome rates and they are way better than my local credit union. They also have cool features to help you with your savings goals.

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Sharon Blomquist
August 4th, 2017

I want to say that I may have been a bit hasty on my first review. I was quite frustrated. I do, however, believe that Capital One should allow us to contact them by email. I also do not think that anyone should ever ask for a PIN. There are so many identity scams and hackers out there these days, my own phone and computer/internet could have had part in the events that happened. I love the convenience of online banking. Print a check copy, make a remote deposit, pay bills via online checks, transfer money, instant access to account balances via wallet, no service fee, instant locking of lost cards, fast replacement of lost cards, and the list goes on . When the glitches are worked out, there is nothing more convenient. I cannot confirm my issues were due to Capital One 360 security or site problems. I love online banking with 360, and I really hope it was not them asking for my PIN over the phone, even though I initiated the call.

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Sharon Blomquist
July 13th, 2017

I was logged into Capital One. I clicked on customer service. A new window opened on a customer service page requiring a new sign in. That took me out of customer service and back to the banking page. I tried to contact customer service in the first place because I was having trouble with links and wanted a copy of a check. There was no way to email capital one. It was an automated phone service where I was told to have my PIN ready to give to the person on the other end once a live operator was available. Why would I give them my PIN? Banks do not ever ask for PINs. They do not even know your PIN. They cannot give you your PIN if you forget it. I suspect this bank has trouble with security. On the site, I am locked from certain links that would give me what I need on some pages and what I used to be able to get from this bank in the history section. The history section should still be able to lead me to where I can get a check copy. On that page, I cannot even place the dates in to get the checks for a certain date. I am locked from using the dropdown arrows. If they can hack into my account, they can hack into anyone's account. Something is wrong with accessing the account, and the phone customer rep wans my PIN number. I hung up. In addition, every time I try to get into Capital One, Microsoft does an update and bogs down my computer. Coincidence or what?! I have 25 Mbps of internet speed. I am only on one site while the update is happening. So, go figure.

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pj
January 23rd, 2017

I started with an account at ING online, which was bought by Capital One 360. I've had an account for over 10 years. Recently, Cap One messed up a payment to my credit card, they sent it to the wrong place, even though the correct location was and has been in my address book for years, and is where I've sent a payment every month. Suddenly, they sent it elsewhere, why they did that is a total mystery. I then discovered there was no way to chat with them online about the mistake they made, which sucks. I was charged $25 late fee for their screw up. No ability to chat online with customer service is very inconvenient for an online bank. So I'm shopping now for another online bank. I wouldn't recommend Cap One. I'd say get a bank with good customer service.

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Chris Xedis
March 19th, 2016 Las Vegas, NV

I've dealt with a few banks and I have to say they get a 10 out of 10 hands down. First they offer true overdraft protection up to $100 which they charge at a 2.7% annual rate. That means no getting dinged some crazy $30 charge for going $.10 in the negative. Also means that you can be overdrawn a couple bucks and get charged litterally pennies in interest. Second, their customer support is hands down top notch. As someone who works in a call center you can get a feel for how hard they are working on your issue, I can say with certainty that the representative was 100% focused on me and my reason for calling as I was only put on hold for 30 seconds when he had to go to the printer. Other than that their wasn't a moment he put me on mute. I was so blown away that I even spoke to his supervisor just to compliment him. Other reps I have spoke to were also really good so you can tell they take care of their employees, which says alot about how they will treat you.

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