Capital One 360 Review

If you're tech savvy or open to online banking, check out Capital One 360. It doesn't charge maintenance fees, there's no monthly account minimum, plus you'll earn a decent interest rate even on your checking account. Learn more in this comprehensive review.

The Verdict

With no minimums or monthly fees while offering a decent interest rate, Capital One 360 is definitely worth your banking attention

Tired of paying a monthly maintenance fee on your big bank checking account?

Frustrated that your savings account is paying you paltry interest?

If you're tech-savvy and are already used to mobile banking—such as depositing checks and paying your bills using your bank's mobile app—you'll want to check out Capital One 360's offerings, including its online checking and savings accounts.

Capital One 360 doesn't charge maintenance fees and does not require a monthly account minimum.

Plus, you'll earn a decent interest rate even on your checking account, varying from 0.2%-1%, depending on your account balance.

Median checking account balance

Also unique is that the Capital One 360 Savings account allows you to set up as many as 25 different accounts for each of your savings goals. And it offers 0.75% interest, with no minimum—making it a better bet than your local bank.

However, if you're searching for the top interest rate, look elsewhere—you can easily find an online bank offering higher interest.

One caveat is that the company maintains physical branches in only eight states. But unless you prefer to do your banking in person, Capital One 360 gets high marks for ease of use, convenience, and its above-average interest rate.

The Competition

Capital One 360 competes with Ally Bank

Capital One 360 competes with other online banks, including Ally Bank, which also offers fee-free accounts.

Here's how the two stack up:

Earn less interest on savings. Ally Bank recently raised the interest on its Online Savings account to 1.2% on all balance tiers. Capital One 360 Savings only offers 0.75% interest.

This means that for every $10,000 you have in savings, you'll earn $45 more a year when banking with Ally.

Earn more interest on checking. Capital One 360 Checking Accounts offer better interest rates than Ally's Interest Checking Accounts—depending on your balance.

Balances of less than $15,000 earn only 0.10% at Ally, but 0.20% at Capital One 360.

If you have between $15,000-$49,999 in your checking account, however, you'll earn 0.6% at Ally and only 0.2% at Capital One 360.

The good news reigns for those with balances between $50,000-$99,999.99—they earn 0.75% at Capital One 360. Command a balance of $100,000 or more, and earn 1% in interest.

At Ally, the most interest you'll earn on checking is 0.6%.

Keep in mind, though, that you're better off keeping extra cash in a savings account rather than checking since you'll earn more interest that way across the board.

Anti-oops overdraft protection. If you frequently overdraw your checking account, the Capital One 360 offers free transfers from a linked Capital One 360 Savings Account.

It also offers an overdraft line of credit where instead of paying an expensive overdraft fee, you'll just pay interest (currently 12.25%) on the amount you borrowed for the number of days your account was overdrawn.

For example, if you overdrew your account by just $100, you'll only pay 12 cents a day in interest—rather than face the $25 overdraft fee Ally charges.

(Those with an Ally savings account can sign up for free transfers from linked accounts).

Customer service isn't always on.Ally offers 24/7 customer service, while Capital One 360 only has representatives available from 8 am-8 pm, seven days a week.

ATM fees kickbacks. Both banks are a part of the Allpoint network, so if you use an ATM within the network, you won't be charged a fee.

However, Ally will reimburse you up to $10 per statement cycle for any ATM fees. Capital One 360 does not reimburse ATM fees.

The Question Everyone Is Asking

What kind of overdraft protection does Capital One 360 Checking provide?

Unlike other banks, Capital One 360 Checking does not charge an overdraft fee—saving you nearly $30 each time you overdraw your account!

Here are your options:

Link a 360 Savings account. You can have the overdraft amount transferred from savings to checking for free.

Pay interest. Instead of being slapped with a $30 overdraft fee, Capital One 360 will charge you 12.25% interest on the money you over drafted on—and only for the time it takes you to replenish your account and pay off the overdraft amount.

Overdraft fees payment

The Strengths

Capital One 360 is strong thanks to its monthly fee-free philosophy

Neither of Capital One 360's checking and savings accounts charges a monthly fee for account holders.

They also don't require a minimum balance.

But Capital One 360's fee-free philosophy isn't the only thing customers love...

Cash is the new check. A unique feature of the Capital One 360 Checking is the ability to make cash deposits at select ATMs.

Savings (sub)accounts for everything! Capital One 360 Savings enables you to create up to 25 savings accounts that you can view from one dashboard.

You can label them—one for travel, one for college, another for fixing the roof. You can automate that a certain amount of money is transferred to each account from your paycheck.

An interesting checking account perk. Many of the big banks don't give you any interest on the balance in your checking account.

Capital One 360 offers a decent interest rate, ranging from 0.2%-1% interest, depending on your checking account balance.

The Weaknesses

Capital One 360 is weak because it doesn't offer the highest interest rate

While Capital One 360 offers decent interest rates on your checking and savings accounts—far better than what you would earn at a brick-and-mortar bank—if you're the type to chase yield, you can find other online savings and checking accounts offering higher interest, depending on your balance.

Other weaknesses include:

Not much in-person bank branch love. Unless you live in the eight states where Capital One 360 has bank branches, you will have to conduct most of your banking online.

You will, however, have access to nearly 40,000 ATMs around the country.

Transfers take time. It can take several business days for transfers from your Capital One 360 account to post to an outside checking account.

So if you often need money quickly, this may not be the best option for you.

Limited withdrawals. In accordance with federal law, you can only withdraw from an online savings account up to six times per month—and Capital One 360 is no exception.

If you make more frequent withdrawals, you may want to use a checking account instead for that purpose.

Why You Need These Services

You should use Capital One 360 if you're tech-savvy

If you're tech-savvy and prefer the convenience of online banking to driving to your local bank branch, Capital One 360 may be a good choice.

In addition to no monthly maintenance fees, Capital One 360 savings and checking accounts offer higher interest rates than your local big bank—since the bank operates as an online, paperless bank, it has less overhead expenses and can pass the savings onto consumers.

The Company's History

Capital One 360 used to be known as ING Direct

Capital One 360 is the online bank subsidiary of Capital One Financial Corporation, which was formed after Capital One acquired ING Direct—a popular online bank—in 2012.

In addition to online banking, Capital One offers cafes in select cities that are designed to enable consumers to manage their finances in a casual, relaxed atmosphere complete with communal tables, lounge chairs, free Wi-Fi, and fee-free ATMs.

Capital One 360 will work best if you live in states with retail branches

You can pop into one of the Capital One cafes located in:

  • California
  • Colorado
  • Florida
  • Illinois
  • Massachusetts
  • Minnesota
  • Pennsylvania, and
  • Virginia

Customers can use Capital One branches around the country—providing the perks of online banking (no fees, higher interest rates on your accounts), along with the ability to walk into a branch and speak to a teller face-to-face.

How millennials check their bank accounts

What The Company Does

This is what and how Capital One 360 works for you

Capital One 360 offers several different products, from checking accounts and savings accounts to money market accounts and CDs.

Capital One 360 Checking

The Capital One 360 Checking account is an interest-bearing online checking account with no monthly maintenance fees or minimum balance requirements.

Consumers receive a free MasterCard debit card for purchases.

Earn interest on checking. Interest rates on the 360 Checking account vary depending on your balance:

Account balance Variable APY
$0-$49,999.99 0.20%
$50,000-$99,999.99 0.75%
$100,000+ 1%

Low-cost overdraft options. Thanks to no overdraft fees—a virtual unicorn in the banking world—you can save big bucks over time.

Either link your 360 Savings account (transfers are free) or pay 12.25% interest for the few days it takes you to replenish your checking account.

Fees be gone. It's so good that we'll remind you again—a Capital One 360 account does not charge a monthly maintenance fee and does not require a minimum balance.

Deposit checks on the go. You can deposit checks from your couch—just snap a picture of the check and upload it.

Nearly 40,000 free ATMs. Consumers can use any of the more than 39,000 free ATMs in the Capital One and Allpoint network.

Free Person2Person payments. Send money to friends and family at no extra cost.

Free debit card. You'll receive a free MasterCard debit card that links to your Capital One 360 checking account.

Ditch the stamps. No need to buy checks and stamps—you can pay your bills online directly from your checking account at no extra cost.

Instant card shut-off if you need it. If your card is lost or stolen, you can deactivate your debit card online.

Your money is protected. Both the checking and savings accounts are FDIC insured, ensuring that up to $250,000 is safe per account.

Capital One 360 Savings

The Capital One 360 Savings account is an online savings account offering a higher interest rate than your local big bank, along with no minimum balance or pesky maintenance fees.

High interest. The 360 Savings account yield 0.75% interest on all balances—no minimum balance required.

Ability to establish multiple accounts. You can set up 25 savings accounts, enabling you to create "sink funds" for large expenses, such as saving up for a down payment on a home, fixing the roof, and even stashing away money for vacation travel.

Savings accounts for children and teens. Capital One 360 also offers a Kids Savings Account, with no fees or minimums, in which the child has his or her own login and adults can monitor the account as well.

The MONEY accounts for teens provide the teen with a debit card and the parents with the ability to manage the account.

Where do teens get their money?

It is FDIC insured. Your account is FDIC insured, ensuring that up to $250,000 is safe per account.

All for the best kind of fees: no fees… sort of

No monthly fees. Capital One 360 does not charge any monthly maintenance fees on its accounts.

Overdraft line of credit. Unlike traditional banks, 360 Checking does not charge a fee to use your overdraft, and there's no fee to sign up. If you use it, you will only pay interest on the amount you borrow.

Overnight delivery of a check. If you send payments via overnight courier, the cost is $20. First-class delivery is free if you can wait a couple of days.

Overnight delivery of a replacement card. If you request to have a replacement 360 Checking Card sent to you via overnight courier, the cost is $25.

There is no charge for standard delivery of a replacement card.

Rejected check. If a check is presented for payment and there aren't enough funds in your account, a $9 Rejected Check Charge will automatically be deducted from your 360 Checking account.

Stop payment. There is a $25 stop payment charge to stop the payment on a paper check.

Capital One offers other banking services

If you've got the cash, then check out the 360 Money Market. This savings option provides 1.2% interest on accounts with balances of $10,000 or more and is fee-free and FDIC-insured.

Certificate of deposit (CD) boost your returns. For those looking to earn more interest than you would in a savings account, Capital One 360 offers CDs ranging from 6 months to 5 years with interest ranging from 0.4% to 2.3%.

You'll earn more interest, but if you need to pull your money out early, you'll pay a penalty.

Investment account to help put your savings to work. Capital One 360 offers investment accounts where you can invest for your future in a brokerage account or a retirement account.

Mortgages to help you afford big-ticket items. You can borrow money to finance the purchase of a car or house via Capital One 360.

What People Love About It

People love Capital One 360 because it's simple to use and there aren't any hidden fees

Consumers and experts alike praised Capital One 360 for its simplicity—no monthly maintenance fees or minimum balance requirements.

"They sold me on their '100% free checking' slogan," writes user Generalte. "It really is 100% free. No surprise or hidden fees." Other benefits include:

Easy savings goals. Capital One 360 "allowed me to quickly create multiple accounts and I use them to save for different goals," writes user Funnyfaces.

You can create up to 25 savings accounts that you view from the same dashboard—allowing you to set up a vacation fund, a "fix-the-roof" fund, and even a "fun money" fund.

Helps you meet your goal.Capital One 360 Savings offers a fun feature called "Set a Goal." Say you want to take a trip to Disney in August and it will cost around $3,000.

If you enter that into this tool, it will tell you how much you need to save each month to fully fund your vacation.

Debit card on and off feature. If your debit card is lost or stolen, you can log into your account and turn the card off.

Sign-up bonuses. A few times a year, Capital One 360 has offered sign-up bonuses on its accounts. In the past, consumers say they have received these bonuses around Thanksgiving and July 4.

Biggest Complaints

The biggest consumer complaints about Capital One 360 center on its poor customer service

While many consumers said that they received adequate if not good assistance from Capital One 360 customer service representatives, several people said they had a hard time speaking with a live person.

Fraud issues. Several negative customer reviews centered on issues related to suspected fraud that resulted in Capital One 360 automatically freezing the customer's account without notice, and then making it difficult to get the account restored.

Top 10 banking fraud types

No beneficiaries. Some customers complained that Capital One 360 does not allow them to name beneficiaries for their accounts.

Key Digital Services

Capital One 360's mobile app makes online banking easy

Capital One 360's mobile app makes it simple to manage your banking wherever you are, any time of day or night.

Mobile services. You can check your account balances, transfer money, deposit checks, and pay bills while you're on the go.

Fantastic ratings and reviews. The app received good ratings and reviews in both the Google Play store (4.6 stars) and iTunes (4.5 stars).

Issues to be aware of. Some Apple users reported the latest version of the app crashing on their devices.

And some features—like setting up an online account or canceling certain transfers—still need to be done from a desktop computer as opposed to the mobile app.

How To Start Using the Services

Go to the company website if you want to start using Capital One 360

To open a Capital One 360 account, you'll need to be a U.S. citizen or permanent resident that is 18 years or older.

After logging onto and entering some basic information, including your address, employer information, and Social Security number, you'll link your Capital One 360 Checking or Savings account to an existing account.

To do so, you'll have to verify two small deposits, each less than $1, which will be processed within 2-4 business days.

Once you have the amount(s), sign in to the website again and click on the 'External Accounts' tab. Select 'Unconfirmed' and enter the 2 small amount(s).

Capital One 360 may check your credit during the account opening process, so a bad credit score may affect your odds of being approved.

How to Cancel Services

The easiest way to close your Capital One 360 account is to transfer the account balance to another account

To close your Capital One 360 savings or checking account, just sign into and click on the account you want to close.

Click the "Transfers & Deposits" tab and enter the entire balance of the account as the amount you'd like to transfer.

Select your Capital One 360 account as the "from" account and the account you'd like the money transferred to. Click the "Transfer" button and then the "Close Account."

You can also call customer service at 888-464-0727 from 8 am - 8 pm every day—but closing the account online is likely to be quicker.

Routing Number

Capital One 360 Routing #: 031176110


  • Can I add other people onto my account?

    Yes. Log and click on the "account details" link.

  • How does the overdraft option work?

    There are no overdraft fees. Instead, you'll only pay 12.25% interest on the amount you overdraft, and only for the amount of time until you replenish the funds in your account.

  • Can I withdraw cash at any ATM?

    Yes, but the local bank may charge a fee if it is not part of the 39,000 ATMs in the Capital One 360 network.

  • Can I use my debit card overseas or internationally?


  • What are the foreign transaction fees?

    There are no foreign transaction fees.

  • Can I apply for a personal loan through Capital One 360?

    Yes, you can apply for auto financing or a mortgage.

  • What is the difference between 360 checking and MONEY?

    MONEY is a checking account designed specifically to help teens save (and spend) their money in a responsible way.

    MONEY comes with a Debit MasterCard for the young adult and the adult over 18 is a joint account holder.

  • Is there a limit to the number of withdrawals I can make from my savings?

    Yes. Due to federal regulations, the 360 Savings and 360 Money Market each have a limit of 6 withdrawals per calendar month.

  • How long will my deposits be held for?

    Most deposits are subject to a four business-day hold before they can be withdrawn.

  • Can I deposit checks via my mobile app?


  • Yes. Capital One 360 offers a Kids Savings Account with no fees, no minimums, and the money is FDIC-insured.

  • How long do I have to wait until I receive my card?

    About a week. If you need it overnighted, you will be charged a $25 fee.

  • Do I need a checking account in order to link my savings account or can I open one without a checking account?

    No. You can choose the "Fund Later" option and after receiving your account number, deposit money at an ATM, or with a teller at a Capital One branch.

  • How much will I earn in interest if my cash is sitting in my checking account?

    You'll earn 0.2% on balances under $50,000, 0.75% on balances between $50,000-$99,999, and 1% on balances of $100,000 or more.

  • What should I do in the event that I lose or misplace my card?

    Call customer service at 888-464-0727 to request a replacement card. Associates are available from 8 am to 8 pm, 7 days a week.

  • s there a card replacement fee?

    There is no fee for standard delivery. If you need to have the new card overnighted, it will cost you $25.

  • How many accounts can I open under just one name?

    You can open up to three checking accounts and 25 savings accounts in your name, and view them all on one dashboard.

  • Can I sync these products with other Capital One products?

    Yes, you can view them all on one dashboard online.

  • Are there any security features with the card?

    You can turn your debit card off if you lose it or it is stolen.

  • Will my account close if there is an inactivity period there?

    Only if there is a zero balance.

  • Are there any transaction limits on 360 Checking?


    • Bill Pay: $100,000 per transaction
    • Person2Person Payment: $2,000 per day. Individual transactions are also limited to $2,000
    • Mail a Check: $100,000 per transaction
    • Cashier's Check: $100,000 per transaction
    • 360 Checking Card ATM withdrawal: $1,000 per day (Some ATMs have their own transaction limits, so it may take multiple transactions before reaching the daily limit)
    • 360 Checking Card purchases using your PIN: $5,000 per day
    • 360 Checking Card purchases not using your PIN: $5,000 per day
  • After my 360 Checking is opened, will I receive paper checks?

    You won't automatically receive checks to write, but you can order your first checkbook of 50 checks for free.

    After that, a checkbook will cost $5.

    You can also make payments online or use your debit card for purchases.

Ready to take the leap into online banking?

With Capital One 360, you'll be rewarded with extra flexibility and above-average interest rates on your savings and checking accounts.

While you can chase an even higher interest rate, Capital One 360 gets the job done and offers the convenience of no monthly maintenance fees or minimum balance requirements (plus, that overdraft protection perk is sweet too!).

And depending on the time of year and offer available, you may even get a sign-up bonus when you open your account.

Do you use Capital One 360?

How has the company worked out for you?

Any great tips (or nightmares) to share with the rest of us?

Let us know in the comments below.

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