Checking:
- No monthly fee and interest-earning: Interest-earning and no monthly fees Finding a checking account that pays interest without monthly fees is a little difficult, but Capital One 360 Checking offers 0.10% APY on all balances. Additionally, there is no need for an opening balance.
- Free nationwide network of ATMs: More than 70,000 ATMs, including those in the Allpoint and MoneyPass networks and those bearing the Capital One brand, offer free check deposits and cash withdrawals. Some of these machines are available at specific Walgreens, Target, and CVS® locations. However, keep in mind that only Capital One-branded ATMs allow cash deposits.
- Fast transfers available: Transfers to other banks can be made quickly because Capital One is a member of the Zelle network. Check out other Zelle-using banks.
- Early direct deposits available: Capital One offers early direct deposits, which allow you to receive your paychecks up to two days earlier. Look into other banks that offer early direct deposits as well.
Customer experience:
- Numerous support options and high app ratings: Capital One 360 accounts have some of the greatest mobile banking experiences, receiving high marks from iOS and Android users. Additionally, representatives are available by phone daily from 8 a.m. to 11 p.m. EST if you need to speak with someone in person. Capital One 360’s virtual assistant, Eno, can be reached via text or the app, but live chat does not offer human assistance. Capital One Cafés also offer in-person assistance and X (Twitter) support.
- A rare perk for an online bank: In a few states, the bank has Capital One Cafés, which are hybrid offices where you can talk to a representative, explore your banking options, get free Wi-Fi, and get refreshments and snacks. Capital One has locations in less than ten states as well as Washington, D.C. Although many online institutions don’t offer any branches at all, the bank has hundreds of branches, which is unusual.
- A solid reputation for client satisfaction: Notably, for the third year in a row, Capital One topped the J.D. Power National Banking Satisfaction Study in 2022. It was tied with Bank of America as the South Central region’s top bank in 2023.
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Overdraft charges:
- No overdraft fees: Any at all Overdrafts and insufficient funds are not subject to fees at Capital One. Although overdraft fees are being eliminated or reduced by an increasing number of banks, some still charge over $30 per overdraft and some charge the fee several times a day.
- Several strategies for handling overdrafts: Customers of Capital One can handle overdrafts in one of three ways. You could:
- Request that transactions that would overdraw your account be automatically rejected by the bank.
- To cover any overdrawing transactions, set up free transfers from a linked savings or money market account (some banks charge $10 or more for this service).
- Obtain free bank coverage for overdrafts. For this overdraft option to be available to you, you must regularly deposit money into your checking account.
- You must immediately deposit money to cover your overdrafts once Capital One covers them. The bank may decide to refuse further overdrafts or even terminate your account if your balance stays negative.
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