Are you looking for a simple and straight-forward savings or checking account with no thrills? Maybe you have heard about or considering opening a Capital One 360 checking or savings account & wondering if it is the best online checking account or not? However, before you do, please read this Capital One 360 Checking Review first.
What’s under the hood of the Capital One 360 Checking?
Capital One checking account, called the Capital One 360 checking, is an online checking account on the go. But is the best? Yes, in my personal opinion. I say that because it’s really easy to setup and it is free of maintenance fees. Just as with any checking account, you are able to send and receive money from others. You can pay your bills and even do mobile deposits. You transfer money between your accounts.
Capital One 360 Checking Review: Who are these accounts best for?
Being that this is an online accessed account, I think if you are someone who doesn’t need to deposit cash and deal mainly with checks, then the 360 is your friend. Also for people who travel on the road all the time and a need a place to deposit checks to, the mobile app is a must have :). Checkmate is what is used to take a picture of your checks to deposit them to your Capital 360 Checking account. Most banks, if not all already have mobile banking to some extent so this feature is great for those who on the go all the time and can not frequent, nor have a need to visit a branch.
There are not many banks, if any that don’t charge some type of maintenance or foreign transaction fees on purchases. That is another advantage of the 360 Checking account. You have access to 38,000 fee free Allpoint ATMs. To find one near you, simply do a quick search the site HERE. I typed in my zip code and I saw that there are some 15 Allpoint ATM locations near me that I could use fee free.
Something Else You Should Know in This Capital One 360 Checking Review:
Most banks today charge an average of $20 – $34 for each time an item is paid where there are insufficient funds. A nice alternative that Capital One 360 offers that won’t break you is an interest rate of 11.25% APR that is charged on your negative balance.
What are the advantages of this?
If you make a purchase for $10 at your grocery store and item is paid by bank, this 11.25% interest rate APR is far less expensive than if you had to dish out an average $20 – $34 per overdrafted item ontop of the purchase with another bank.
As for Savings Accounts, the Capital One Savings 360 offers some good perks as well.
Just as with the Capital One 360 checking, the online 360 Savings also has no fees and no minimum amount to open this account. However, when you start to compare interest rates offered on average savings with most banks, the Capital One 360 Savings account is at a 0.75% annual percentage yield. Both accounts are insured by the FDIC.
To find out more information about opening a Capital One 360 today, you can visit their official website HERE!
How Is The Capital One 360 Customer Service?
Capital One 360 customer service is really great in my opinion! They have really great support and I have always had good experiences from reps when I have contacted their customer care.
Capital One 360 Checking Review: Read What Others Say..
“Hello everyone, I am a NEW* member of the online banking movement as of 09/09/2015. I am currently banking with Capital One 360 and Eastern Bank here in Boston, MA . I am enjoying being a member of capital One 360 because of the NO FEES system they have, the other banks aren’t doing it for me specially when i was unemployed. In the future i HOPE that capital one will start a Debit Rewards program that way i can earn Jet Blue and American Airlines miles just like their credit card holders too. 🙂
As of today i have nothing negative to say about capital one and hope to have nothing negative to say about them in the near future. * If you are someone who thinks that capital one should start a debit rewards program which will earn us points by simply shopping around everyday please help in spreading this idea ! Lol * I think that would make us use our debit card much much more…….. and keep our account funded too. thanks !!! 🙂 KB-from Boston, MA”
“I switched to capital one 360 because of the overdraft line of credit. I don’t usually overdraft, but the times that I have by accident, I got totally reamed by wells Fargo. Like eight overdraft fees in one day. And usually for something dumb, like my husband took out cash without realizing I had bills coming out. It’s really painful to lose hundreds of dollars in those fees when you already are on a tight budget. And sometimes you can’t cancel scheduled bills in time, even after you know about the negative balance, so those overdraft too. I even turned off overdraft protection with wells Fargo, but they still would allow stuff to go through! They would approve my debit card purchases, or atm withdrawal, and then later when a bill came through they’d go back and charge me an overdraft for ALL of the purchases, not just the bill. Their excuse….that the stated date from the biller preceeded the purchases, even though the actual bill wasn’t withdrawn until after the purchases. I’m not sure that’s even legal, but they are getting away with it. These big banks will do anything to trap you in these fees.
Cap One helped get us back on track. The overdraft line of credit saved my butt a few times, with no fees, which saved me more. I also love how they automatically deduct money from the account when I send a check or payment, even if the check hasn’t been cashed. Being a scatter brain, I often forget about payments that I sent, which causes overdrafts. This checking account helps keep me on track. I’ve also had no issues with customer service. They’ve always been very nice and informative. I’ve had a capital one credit card since college. It is literally the only credit card I’ve ever had that doesn’t raise interest rates. It’s been the same rate for thirteen years, no matter how high the debt got. Other cards that I had at the same time raised their rates even when I paid faithfully. So, I paid those ones off and now only use the capital one card.”
“We have moved 11 times since 1970 so have had experience with many small, mid and large banks. We were building a home in 2006 and funding much of it with our cash. Found ING Orange (now CapOne 360) and it was the only choice that gave reasonable interest and allowed us to move large sums to our builder (up to 6 figures) with a simple “push” from the website. Currently use it for savings with various goals and the ability to create “sub accounts” is very handy way to keep from commingling funds and violating our own rules and goals. Have never had an issue that involved customer service in 9 years”.
It can be inconvenient not having a branch to walk into. But CO360 has made it simple to make deposits by uploading checks. It’s easy to withdraw funds via a huge network of fee-free atms, including those in all Target and 7-11 stores. The interest rate beats local and chain banks by quite a bit. They have products geared for my teen to help her ease into financial independence as an adult. They now provide a checkbook, so there’s nothing I can’t do with this account that I could do with, say, B of A. The one time they didn’t provide a service I needed, when purchasing a home, I called and they made it happen for me. Really, I couldn’t be happier.
These above are just a few of the many comments that I wanted to include in today’s Capital One 360 Checking Review.
Capital One 360 Checking Review Q: Why I Opened an Account?
My goal when I heard about the online Capital One 360 accounts was to have an account that I could NOT physically see unless I logged online. One benefit of this is that if you are saving for a specific trip, an event or even planning for the future, you can initiate automated transfers from your XYZ Bank to your new Capital One 360 checking or savings account.
To open an Capital One 360 checking account today online, you can visit the official Capital One 360 website HERE!
A Recap of Capital One 360 Checking Review & Savings
So if you are looking for a great online banking alternative or addition to your current financial institution, then you should open an account with Capital One 360 checking and savings account today. I would like to add also that for all future Capital One customers, remember that this is a great convenient “online option” and although I believe it is the best online checking account, one can not expect perfection.
Are you already using Capital One 360 checking or savings? If so, your comments please below and thanks for reading my Capital One 360 Checking Review.