Capital One 360 Bank Review: Savings, Checking, and CDs

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Capital One 360 offers a suite of bank accounts with no monthly fees or minimum balances. With a focus on customer experience, Capital One 360 aims to offer a seamless digital banking solution — though there is branch and ATM access if you need it.

We’ll look in-depth at Capital One 360’s accounts, features, user experience, accessibility, and security. Here's what you need to know.

Key features

• Fee-free checking and savings accounts
• High-yield savings account with competitive interest rates
• No minimum balances or monthly fees
• 350+ physical branches nationwide
• 70,000+ fee-free ATMs nationwide
• Capital One Cafés in 19 states
• Easy online and mobile banking
• Live support 7 days a week
• Stellar ratings on mobile app (4.8/5 on App Store and 4.6/5 on Google Play)

Capital One 360 accounts

There are a few types of Capital One 360 accounts to choose from. The right fit depends on your needs and goals.

Capital One Performance 360 Savings

• Annual percentage yield (APY): 4.35%
• Minimum deposit: $0
• Monthly maintenance fees: None

Capital One’s high-yield savings account offers a simple, fee-free way to grow your money.

You may be able to find better rates with an online-only bank. But, the Capital One 360 Savings account has no fees or minimum balance requirements. You can also set up automatic deposits and multiple accounts for different savings goals.

Capital One 360 Checking Account

• APY: 0.10%
• Minimum deposit: $0
• Monthly maintenance fees: None

Capital One 360 Checking is one of the best fee-free checking accounts on the market. It does earn some interest — higher than average but lower than other high-interest checking account options. The key benefit of Capital One’s checking account is that it charges no maintenance fees, overdraft fees, or non-sufficient funds fees.

You can also get paid up to two days sooner if you enroll in direct deposit and can use Zelle to move money or pay bills. Plus, cash deposits are accepted at CVS and Walgreens if you don’t have time to visit a branch or ATM.

Capital One 360 CDs

• APY: 4.00% - 5.00%
• Terms: 6 months - 5 years
• Minimum deposit: $0

Capital One 360 CDs are ideal for consumers who are serious about meeting their savings goals. Terms range from 6 to 60 months, but you don’t have to lock your funds away for an eternity to maximize your funds. Their 12-month CD has the highest earning potential with a 5.00% APY, making it one of the best 1-year CDs out there.

Plus, unlike other CDs, there’s no minimum initial deposit required. You can choose when you receive interest payments — monthly, annually, or when the term ends. If you withdraw funds early, the penalty is 3 months of interest for CDs with terms of one year or less. CDs with one-year terms charge an early withdrawal penalty of 6 months of interest.

Capital One credit cards

Besides its bank accounts, Capital One also offers a variety of credit cards that span from basic starter cards to premium travel cards.

Here’s a brief look at some of Capital One’s top credit cards:

Capital One Platinum Credit Card

The Capital One Platinum Credit Card is one of Capital One's most popular starter cards due to its easy qualification process and lack of annual fee. This card allows those new to credit or rebuilding credit to get started without too much risk. Key features include:

• No annual fee
• Potential credit line increases over time
• Fraud coverage and 24/7 customer support

Capital One Quicksilver Cash Rewards Credit Card

The Capital One Quicksilver Cash Rewards Credit Card provides unlimited 1.5% cash back on every purchase for consumers with good credit. Other perks include:

• No annual fee
• No foreign transaction fees
• Travel and shopping protections

Capital One Venture Rewards Credit Card 

Frequent travelers can maximize rewards with Capital One's suite of Venture cards. The Capital One Venture Rewards Credit Card specifically offers:

• 2X miles on all purchases, and 5X miles on hotels and rental cars booked through Capital One Travel
• $100 application fee credit for Global Entry or TSA PreCheck
• Flexible miles that can be transferred to hotel and airline travel partners
• $95 annual fee

If you open a 360 account, getting a Capital One branded credit card could also be beneficial.

An in-house credit card is also much easier to manage alongside your banking. The mobile app lets you view account activity, schedule payments, and monitor spending. And if you’re an existing customer, applying with the pre-filled application is easier than ever.

You can check out Capital One's full credit card line-up if you’re looking for a new credit card.

Additional features

• Mobile app and online banking: Capital One 360 offers user-friendly online banking across all accounts. You can monitor balances, transfer funds, deposit checks, set saving goals, and pay bills, all from the mobile app.
• Customer support: Connecting with customer service is simple via phone, email, secure messaging, and social media. Support agents are available 24/7 to assist with any questions or issues.
• Security: Capital One 360 uses advanced encryption technology to keep your information secure. It includes multi-factor authentication, fraud monitoring, and $0 liability fraud protection.

Should you bank with Capital One 360?

Capital One 360 is a good option for consumers who value digital banking tools, earning high interest rates, and avoiding fees.

This bank may make the most sense if:

• You are comfortable conducting your banking digitally without visiting physical branches
• You want to earn higher interest rates on savings accounts
• You want access to innovative mobile apps and banking tools
• You don't need to make frequent cash deposits or withdrawals

Consumers who still rely on in-person banking services may be better served by traditional brick-and-mortar banks. But technologically-savvy customers and those focused on maximizing interest earnings can benefit from exploring online banks.

If you want to do most of your banking in one place, Capital One 360 could be an excellent option for you. It combines the benefits of online and traditional banks and offers a full suite of banking and credit card products.

How we rated this bank

Every bank review we publish has undergone a rigorous editorial process to ensure accuracy and objectivity.

We rate all banks on a 10-point system, with 10 being the highest possible score and 1 being the lowest possible score. We assess each card across several key factors, weighted based on what our research shows matters most to readers like you. Learn more about our methodology here.

Capital One 360 Bank excels in several key areas, particularly its competitive interest rates, minimal fees, and lack of minimum deposit and balance requirements. 

Here are some of the factors that influenced this bank’s overall score: 

• Interest rate: The bank's savings account and CD rates are among the best in the market, especially the 1-year CD at 5.00% APY. While the savings account rate may be slightly lower than some online-only banks, Capital One 360's overall interest-earning potential is strong.
• Fees: The bank's fee structure is highly favorable, with no monthly maintenance fees, overdraft fees, or non-sufficient funds fees on the checking account. 
• Product mix: Capital One 360 offers a solid lineup of checking, savings, and CD accounts, as well as a variety of credit card options. However, the lack of money market accounts and investment services may be a drawback for some. 
• Customer service: The bank's customer service is rated highly, with live support available 7 days a week through multiple channels. 
• Digital experience: Capital One 360 offers a user-friendly online and mobile banking platform that includes essential features like mobile check deposit, bill pay, and savings goals. 
• ATM & branch access:  Capital One 360 offers access to a wide network of fee-free ATMs and a decent number of physical branches. The ability to deposit cash at CVS and Walgreens stores is a convenient feature.

Editorial disclaimer: Opinions expressed are author's alone, not those of any bank, credit card issuer, or other entity. This content has not been reviewed, approved, or otherwise endorsed by any of the entities included in the post.