Capital One has been buying ING DIRECT for a few months now. The popular bank conducted its majority of operations online.
Capital One 360 offers a good option for most people who are looking to centralize and consolidate their banking, while also finding competitive rates. Capital One 360 allows you to easily access all your accounts including your investment account from your account summary.
Capital One 360: Features and Benefits
Capital One 360 provides a wide range of banking services and products.
Save up to 360
This is the original account. No fees, no minimum deposits, and no catch. The current yield is.40%, which is competitive when you consider there are no fees and no minimums. You can easily link your account with other banks, and set up automatic transfer to save money.
Children’s Savings Account
Capital One 360’s account for my son is a far cry from the 0.20% that he received at his local credit union. You can monitor your account on your dashboard, and teach your child to save early.
360 Checking
Open a Capital One 360 checking account and you can earn a return on your balance. The current yield is.10%. Capital One and Allpoint ATMs are available to account holders at no charge.
- You can send money to friends and family for free using P2P Payments.
- Even when you send paper checks, bill pay is still free.
- CheckMate allows you to deposit checks from anywhere, and your account is protected against overdraft.
- You won’t be charged a fee if you overdraw your bank account. You are only charged interest on your overdraft up until you pay it off.
MONEY (Teen checking)
MONEY was created for teens. This account earns interest and has no fees or minimums. Teach your teenager how to manage money.
CDs
Capital One 360’s CDs offer yields that aren’t as competitive as they should be. They range from 0.20 to.40%. You can select your term and when you receive interest payments.
Business Account
Capital One 360 offers business banking services as well. You can either open a CD for business or a savings account for business. The yield you receive on a business savings account may be lower than that of personal savings.
Capital One can help you set up a retirement program for your small company. This is a simple plan to set up and can be offered to your employees.
Bottom Line
Capital One 360 has a good reputation as a competitor. The products are still competitive. The bank’s low-fee and low-hassle structure makes it simple to open an account. This way, you can avoid having your wealth diminish due to hidden charges and complex requirements.
