Capital One 360 Banking review 2024

Capital One

Blueprint Rating

Products

Credit cards, checking, savings, CDs, auto loans

Fees

Wire fees, cashier’s check fees

ATM network

70,000+

What you should know

Capital One is a full-service financial institution that provides competitive rates on its savings products and low fees on its checking accounts. Moreover, it has branches in some states, especially in the Northeast. However, you can find accounts from other banks that pay higher yields, while biggest financial firms have a more established footprint.

Pros

• No monthly maintenance fees or account minimums.
• Large nationwide ATM network, with branches available in some states.
• Competitive savings rates and interest-bearing checking.

Cons

• No money market accounts.
• In-person banking limited to certain states.

Capital One 360 basics

• Checking: Capital One 360 Checking Account and Capital One MONEY Teen Checking Account.
• Savings: Capital One 360 Performance Savings and Capital One Kids Savings Account.
• CDs: Capital One 360 certificates of deposit.
• Other accounts: Credit cards and auto loans.
• Bank branches or online only: Both.

Account details and annual percentage yields (APYs) are accurate as of May 6, 2024.

Capital One Checking

Capital One has two checking accounts: the Capital One 360 Checking Account and the Capital One MONEY Teen Checking Account.

360 Checking is the bank’s primary checking account. It has no monthly fees or minimum balance requirements. It even earns interest — currently 0.10% APY on all balances. Though it’s an online account, you can visit Capital One Cafés or branches to bank in person. You can also bank at more than 70,000 in-network ATMs and make cash deposits at certain third-party retailers. 

It also has some helpful features, such as fee-free overdraft options, access to Zelle and the ability to get your paycheck early. The only fees associated with this account are for cashier’s checks, wire transfers and extra checks.

MONEY Teen Checking allows kids ages 8 and older to share a joint checking account with a parent. Like 360 Checking, there are no fees or minimums, and all balances earn a 0.10% APY. 

Kids get their own debit card and mobile banking login. As a parent, you can link an external bank account to MONEY if you don’t have an existing Capital One Checking account. You can also set parental controls, send money and track your child’s spending.

The only fees for MONEY Teen Checking are fees for cashier’s checks purchased at a Capital One location.

Capital One Savings

Similarly, Capital One offers two savings accounts: the Capital One 360 Performance Savings and the Capital One Kids Savings Account.

Capital One’s regular savings account, 360 Performance Savings, is a high-yield savings account that currently earns 4.25% APY on any balance. The account has no monthly fees and no minimums. You can set up automatic transfers, deposit checks with your mobile device and even create multiple accounts for various savings goals.

Interest compounds and is credited to your account monthly. The 360 Performance Savings’ only fees are for cashier’s checks and wire transfers.

Capital One’s Kids Savings account has no fees or minimums, and it even earns a substantial 2.50% APY. While kids can check their savings balance on their own, you’ll need to sign in with your own login to move money in or out of the account. You can transfer money from your account — Capital One or not — into theirs, manually or with automatic transfers. And if your kid has multiple savings goals, you can open multiple accounts.

Like the 360 Performance Savings account, interest compounds and is credited monthly. The only fees associated with the Kids Savings account are fees for cashier’s checks purchased at a Capital One location.

Capital One CDs

Capital One 360 certificates of deposit have terms ranging from six months to five years. Currently, the one-year term has the highest rate.

TERM	APY
6 Months	4.25%
9 Months	4.25%
12 Months	5.00%
18 Months	4.45%
24 Months	4.00%
30 Months	4.00%
36 Months	4.00%
48 Months	3.95%
60 Months	3.90%

See MoreSee Less

There’s no minimum balance requirement to open a 360 CD, and you get to choose how you receive interest — at the end of the term, monthly or annually. 

Other products

Credit cards: Capital One is known widely for its credit cards, so this is quite a robust product category for the bank. 

Capital One offers dozens of cards of different types — including personal, starter, business and student cards. There are also several card categories to choose from, like no annual fee, travel, dining and cash back. Capital One credit cards typically don’t charge foreign transaction fees.

Auto loans: Capital One offers auto financing and refinancing for both new and used cars. You can even get prequalified for a loan online.

How Capital One 360 stacks up

Capital One 360 vs. Citi®

Citibank has two checking accounts, Citi® Regular Checking and Citi® Access Checking, both with waivable monthly fees. One account waives out-of-network ATM fees, while the other doesn’t. A big difference between Citi and Capital One’s checking accounts is that Citi has different relationship tiers based on your account balance. The higher the balance, the more perks you get. 

Citi also has two savings accounts — Citi® Accelerate Savings, which earns an impressive 4.35% APY but isn’t available nationwide — and Citi® Savings, with rates starting at just 0.03% APY. Obviously, the former account is competitive with Capital One’s rates, and the latter isn’t. If you can qualify for Accelerate Savings, it may be worth looking into.

Like Capital One, Citibank has a large ATM network and physical bank branches.

Capital One 360 vs. Ally Bank

Capital One and Ally both offer free savings and checking accounts, but only Capital One has physical locations for in-person banking. Like Capital One, Ally Bank has a large, nationwide ATM network for fee-free transactions.

The Ally Bank Spending Account can potentially earn a higher yield than Capital One’s 360 Checking Account — depending on the account balance — but the savings accounts earn a comparable rate. 

When it comes to products, Ally has a wider range, including several different CDs, an Ally Money Market Account, investments, mortgages and personal loans.

Capital One 360 vs. CIT Bank

CIT Bank has four savings accounts to choose from. One of these accounts — CIT Bank Platinum Savings — earns a whopping 5.00% APY with a balance of $5,000 or more and 0.25% APY on balances less than $5,000. This account requires a minimum opening deposit of $100. 

The CIT Bank eChecking account is on par with Capital One’s 360 Checking Account. It earns 0.10% APY on balances under $25,000 and 0.25% APY on balances of $25,000 or greater. Plus, CIT reimburses up to $30 per month in other bank’s ATM fees. As with CIT’s savings accounts, its eChecking account requires a $100 opening deposit.

About Capital One 360

Headquartered in McLean, VA, Capital One is one of the nation’s top ten largest banks with more than $400 billion in assets. 

Today, Capital One serves more than 100 million customers. The bank is widely known for its credit cards but also offers checking accounts, savings accounts, CDs and loans. The bank serves businesses, too, with a suite of business credit cards, loans and checking and savings accounts. 

Though Capital One offers online banking, customers can also visit one of the bank’s physical locations.

Frequently asked questions (FAQs)