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Capital One 360 Savings Account Reviews

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  • Pros
  • FDIC insured
  • No fee for monthly maintenance, bank-owned ATM withdrawal, or non-bank-owned ATM withdrawal
  • Interest accrues each day but is paid on a monthly basis
  • No minimum amount required to open an account or maintain it
  • Cons
  • Overdraft fee
  • No money market account
  • Savings deposits capped at $1 million

Capital One 360 Savings Account

If you have any fears about using an online-based or small and unknown bank, you can put your money in Capital One as it's a well-known company with dozens of products, offices worldwide and a presence that is felt throughout the industry. While the 0.75 percent interest rate isn't the highest, it's also not the lowest, and Capital One is a well-known company. It must be noted that rates are subject to change, and Capital One adjusts interest rates as market conditions permit.

Easy Set-up and Good Customer Service

Anyone reading this has probably seen Capital One commercials on television, and it's easy to fall in love with the commercials and the company. Capital One, more or less, offers it all, and you can get auto loans, credit cards, bank accounts and much more with the company. When setting up a savings account with Capital One, you can do so from their front page. If you are a customer, you can open an account in a matter of seconds as the company already has your information on hand. One thing that makes Capital One great is the communication the company has with its clients. Before getting started, the site informs you that you will need your checking account information to make a deposit. It also notes rules and regulations regarding your account. As an extra layer of security, you can't withdraw money for the first 10 days, which Capital One informs you before signing up or sending money.

Nothing is more frustrating than starting to sign up for an account and losing your Internet connection or getting distracted by life. Capital One thought of this, and you can continue a previously started application. To restart your application, you will only need to provide the last four digits of your social security number, as well as your username. If you forgot it, you can click the blue hyperlink, and Capital One will send it instantly via secure email. The entire process should not take long, but it should be noted that it's wise to have all of your information ready as Capital One takes security seriously.

If, at any point, you are lost or have any questions, Capital One can help you. You can call the toll-free number, send an email or head to a local branch. Luckily, as mentioned, you don't have to worry about losing your progress since Capital One allows you to restart where you left off, which will help you avoid any frustration.

If you want a savings account with a bank with lots of technology, Capital One is a bank to consider. Whether you have an iPhone or Android-enabled device, Capital One has you covered. The app garners four stars in the Google Play Store, and more than 70,000 have given their opinions. With the provided app, you can transfer money, inquire about issues, look up addresses for ATMs and banks and even manage other products. This is a huge advantage to using Capital One as the app has been heavily tested, and it gets higher ratings from more users than other banking apps in the industry.

Capital One has Top-Notch Security

A lot of folks are a little apprehensive about opening a savings account online or accessing their private information via their Web browser or smartphone. It's easy to see why people have fear as year after year, we see high-profile cases of sites and companies being hacked. Capital One knows this, and the company has been working tirelessly to avoid fraud. For starters, the company has an email address and team specifically dedicated to responding to your inquiries when you receive a suspicions email.

When you enroll in online banking for your Capital One savings account, you will receive be forced to make a secure password. Once you log in and use your account, you will notice that the site uses the latest SSL technologies, which will help you further avoid issues. If you try to change information on your account, you will be prompted to answer more information to assure Capital One that no fraud is taking place. All in all, Capital One has put plenty of time and money into action in order to avoid fraud, and it's safer to use its services than many smaller, less established banks.

Great Information Resources

Often, when you have a bank account or are signing up for something online, you will have a simple question related to your account or how to transfer money. It's annoying and time-consuming if you have to call in or wait for an email. But, to sidestep this and save time, you can check out the massive help and FAQ section. Here, you can learn how to transfer money or how to finish setting up your account. Don't worry, if issues arise, you can always call in, 24/7, to get help on any number of issues, large or small.

A Massive Presence

There are a lot of great banks out there, but most aren't nearly as large as Capital One. This doesn't mean that it's too large and doesn't offer customer service. Rather, with large companies come more services, better security and a name you can trust. While there aren't branches nationwide, there are plenty of ATMs and branches to reach, which is a huge advantage if you are traveling or need to talk to someone, in-person. Simply put, Capital One offers customer service like a smaller bank while offering more products and location, like a larger, more established bank.

Verdict - Good

There are a few banks out there with slightly higher interest rates, but if you want customer service, security and the best technology, Capital One is a bank to consider. When opening a savings account, you can use the app and website, and you will have an easier time accessing many popular Capital One products such as credit cards and checking accounts. Finally, another huge advantage to Capital One is that the company moves quickly when it comes time to raise interest rates for its savings accounts.

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Capital One 360 Savings Account Consumer Reviews

Average Customer Rating

4 out of 10 rating 4 3 User Reviews

User Rating Distribution

Ratings: 10 - 9 0
Ratings: 8 - 7 1
Ratings: 6 - 5 1
Ratings: 4 - 3 0
Ratings: 2 - 1 1
1 out of 10 rating 1 none They make too many mistakes

I would be out $1790 if I didn't catch their mistake then they send me somebody else's statements

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6 out of 10 rating 6 Good interest rates Slow processing time into savings

They offer great interest rates, but one issue with the savings is the amount of time it takes for cash or checks to hit your account. It can take 5-6 days, however if you have a capital one back account you can pay the money in and transfer it to your savings within a couple of days!

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7 out of 10 rating 7 Easy to use ATM locations

I was really surprised with my capital one saving account, it is so easy to do everything online and the rates for savings are really good compared to most of the other accounts out there.

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Advertiser Disclosure

In order for MoneySavingPro to remain a consumer free service, many of the companies covered in our industry reviews compensate MoneySavingPro for new sign ups.

However, the results of our comparison tools, the rankings of the providers and the information presented is not affected by compensation. Indeed, many of these companies approach us for an advertising partnership after we have already written a published their reviews.

While we try to research and review as many providers as possible in the 100+ industries we cover, we have not reviewed every company available.

Our rating system is independent of compensation and reflects our true understanding of the industry and the company based on a variety of factors. The companies that receive the highest rating will always be the providers that we believe offer the best value to the consumer.

Advertiser Disclosure

In order for MoneySavingPro to remain a consumer free service, many of the companies covered in our industry reviews compensate MoneySavingPro for new sign ups.

However, the results of our comparison tools, the rankings of the providers and the information presented is not affected by compensation. Indeed, many of these companies approach us for an advertising partnership after we have already written a published their reviews.

While we try to research and review as many providers as possible in the 100+ industries we cover, we have not reviewed every company available.

Our rating system is independent of compensation and reflects our true understanding of the industry and the company based on a variety of factors. The companies that receive the highest rating will always be the providers that we believe offer the best value to the consumer.