Capital One 360 – A Complete Overview

Capital One 360, with strong customer service and streamlined online management processes, provides a top-notch banking experience. Their accounts for power and investment often receive good rates and charge no monthly fees. Capital One 360 has versatile overdrawing options, but the overdraft fee is high. Capital One 360 has been an important player in the banking industry in just a few years. Much of its business is carried out online and through its mobile app. The checking and saving accounts of Capital One 360 are free to be opened and managed, with no minimum balance required. the Capital One 360 Savings account offers an interest rate of 1.50% APY which is significantly higher than the national average of 0.07%. No deposit charge is required for the account to be opened and no monthly maintenance charge to retain it.

Overview:

Capital One 360 satisfies all your need regarding online banking and also offers you with some services which are not that much common when it comes to online banking. Let us have a look at what it has to offer-

• Checking Accounts – It offers you a teen-friendly checking account and a no-fee checking account which essentially features on teaching your child to manage money.
• Savings Account – It offers three types of savings account namely- personal, Business, and Kids savings accounts.
• Mortgages Accounts – It covers you with Fixed and adjustable mortgages with competitive rates of interest.
• CD Accounts – It offers you with a range of 6 to 60 months when you choose to grow your wealth by a CD.
• Investment Accounts – It offers you build your portfolio of ETFs, Stocks, and Mutual funds.

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Key Features of Capital One 360:

Capital One 360 works exactly the same as any other traditional bank with the same functions, and some features which any other bank would offer. They also offer the exact same mortgage and loan offerings that most other banks do.

• Its an Online bank – This bank operates completely on an online platform. The only difference between Capital One 360 and any other traditional bank is that here you get to access your money through your smartphones or computers.
• Saving Money Becomes Easier. – It is very easy to set up a savings account in this online bank because of its vast features on offer. You can easily deduct your savings from your present bank accounts and save them here. You can even set up multiple no. of savings accounts which helps you save for different goals of your life. Any single person can set up to 25 savings account and generate automated savings into them.
• Checking Account and Credit Card Linking is very Easy – A free linked interest-bearing checking account can be opened here, which would allow you to deposit checks, use debit cards. You can even get a quick look at your balance any time you want to and also opt for credit card options.
• Efficient In Customer Service. – They have a phone-based customer service for their users which is very efficient in its job. They remain available in regular banking hours which is from 8 AM to 8 PM.

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Pros and Cons of Capital One 360:

Like any other bank,  Capital One 360 also has its good and bad sides. Let us have a detailed look at all of them –

Pros:

• No Fees Required – They do not charge any amount to open or maintain your savings account.
• Mobile Banking – With this feature in this era of the internet one can easily operate their bank account comfortably from their home.
• No Minimum balance is required – There is no requirement of a minimum balance to open or maintain your savings account.
• No International Charges – No hefty amount is required for your offshore transactions.
• Customer service for every day- Their customer service works for 7 days a week fro 8 am to 8 pm.
• 40000 ATM accessibility – With this many numbers of ATMs on offer, you don’t have to worry about an ATM no matter wherever you are in the country.

Cons:

• They Don’t offer the Best Rates – There are other online banks in the market that offer a better and interesting rate for your savings or checking account. Well at the end of the day it is all about the numbers.
• Their App doesn’t offer proper Security encryption – It might not be a good idea to send your check photos or important documents through their app since the security encryption levels arent that good.
• They have very few Physical Branches.- The number of branches are very few in numbers and very far from each other. When it comes to hand in hand service, this bank is really not the best in its terms.

Final Words:

Looking at a full overview about this bank, we would suggest that only those who are not running behind high-interest rates and who want a maintenance-free account, should opt for it. But if you are a guy who understands numbers and wants its bank to be top-notch at its services, then it wouldn’t be the best pick. Be wise and choose well for yourself.

Sudha B

Sudha is the senior publisher at Finance Glad. Sudha completed her education in BBA (Bachelor of Business Administration). She lives in Chennai. She is currently heading towards the banking topics. Sudha is an expert in analyzing and writing about most of the banks and credit card reviews. Sudha main hobbies and interests are reading, writing and watching the quality stuff over the internet. She usually wants to learn more productive stuff and share the best information to her readers over the internet via Finance Glad.