Review
Updated
By: Kailey Hagen
![Kailey Hagen]()
Kailey Hagen has been writing about small businesses and finance for almost 10 years, with her work appearing on USA Today, CNN Money, Fox Business, and MSN Money. She specializes in personal and business bank accounts and software for small to medium-size businesses. She lives on what's almost a farm in northern Wisconsin with her husband and three dogs.
and Cole Tretheway
![Cole Tretheway]()
Cole Tretheway is a full-time personal finance writer whose articles have been featured on The Ascent and The Motley Fool. He has a degree in English with a Certificate in Professional and Technical Communication from California Polytechnic University, SLO.
Fact Checked
Nathan Alderman
Nathan Alderman has worked with The Motley Fool since 2005, making errors his arch-enemies in a variety of roles including a six-year stint as the dedicated fact-checker for The Motley Fool's premium newsletter services. As The Ascent's Compliance Lead, he makes sure that all the site's information is accurate and up to date, which ensures we always steer readers right and keeps various financial partners happy. A graduate of Northwestern University's Medill School of Journalism, Nathan spends his spare time volunteering for civic causes, writing and podcasting for fun, adoring his wife, and wrangling his two very large young children.
Member FDIC.
Capital One
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Capital One Bank offers all the key features you'd expect from an online bank. These include high APYs, no maintenance fees, and no minimum deposit requirements. It also offers some you wouldn't expect. The bank has a reputation for great customer service, and its teen bank accounts are top notch.
Pros
- High APYs
- In-person locations
- Competitive accounts for minors
- Solid customer service
Cons
- Some CD rates are low
- Few branch locations
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Our bank and credit union methodology
Our methodology for scoring banks and credit unions revolves around evaluating key aspects such as annual percentage yield (APY), brand reputation, fees and minimum requirements, and additional perks.
These criteria are weighted differently across various account types, ensuring a comprehensive assessment that reflects the competitive landscape and economic conditions.
We strictly feature products that offer federal insurance and high customer satisfaction, keeping our recommendations unbiased by advertiser influence. This robust evaluation process helps us generate balanced, reliable best-of lists that guide consumers to top financial products.
Learn more about how The Motley Fool Ascent rates bank accounts.
Is Capital One bank right for you?
Capital One bank is a good fit for you if:
- You want to avoid monthly fees and minimum balances.
- You want the best teen accounts in the business.
- You want the option to get in-person help.
KEEP READING: How to Open a Capital One Bank Account
Monthly fees
Capital One bank accounts are mostly free of monthly maintenance fees. But a few business accounts charge $3 to $35 monthly fees you can get waived by maintaining a minimum balance. Personal accounts, including bank accounts for minors, charge no monthly fees.
Savings accounts
Capital One offers three savings accounts, which are discussed in detail below.
Capital One 360 Performance Savings
The Capital One 360 Performance Savings account will appeal to the majority of people. It has a high APY and charges no monthly maintenance fees. Another plus: There are no minimum balance requirements to open the account or earn interest.
The majority of Capital One customers will bank online via its mobile apps and online accounts. If you prefer to bank in person, you can do so at ATMs and Capital One branches in several states.
Member FDIC.
Ratings Methodology
Rates as
of Jun 26, 2024
Capital One 360 Performance Savings
Member FDIC.
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Best
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= Excellent
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APY
4.25%
Rate info
See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of April 11, 2024. Rates are subject to change at any time before or after account opening.
Min. To Earn APY
$0
- Competitive APY
- Branch access
- No account fees
- Comfort of a well-known brand and reputation
- 24/7 customer support
- No ATM access
Capital One 360 Performance Savings checks all the boxes we look for in a high-yield savings account. It even offers branch locations and Capital One Cafes where customers can seek in-person support (if you live near one). This makes it a great fit when you want to reap the rewards of online banking but aren't quite ready to cut ties with brick-and-mortar banks.
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Capital One Kids Savings Account
The Capital One Kids Savings Account is one of the best savings accounts for kids under 18. Parents can set up either an account in their child's name alone or a joint account. The Capital One Kids Savings Account has a decently high APY for a kid's savings account, but not nearly as high as the Capital One 360 Performance Savings account. It has no account minimums and doesn't charge monthly fees.
This account lets you and your kids set up savings goals to help establish good financial habits. You can set up automatic transfers from your account to theirs. Plus, your kids' accounts automatically upgrade to Capital One 360 Performance Savings accounts when they turn 18.
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Capital One Business Savings
The Capital One Business Savings account is aimed at small business owners. It has a waivable monthly fee, which is $3 unless you maintain a balance of at least $300. Its APY is quite low compared to its personal savings accounts, but you can lock in a promotional rate for your account's first 12 months. This makes it a bit more like a brick-and-mortar account than Capital One's other savings accounts.
Certificates of deposit
Capital One offers two types of certificates of deposit (CDs) -- 360 CDs and Small Business CDs.
Capital One 360 CDs
Capital One 360 CDs have no minimum balance. Terms range from six months to five years. Rates are pretty competitive, especially for its short-term CDs. Since rates are locked in for the whole CD term, this could be a good choice when rates are falling.
Capital One is unusual in letting its account holders decide when they'd like to receive the interest they've earned. You can get your interest paid monthly, which is typical of most CDs. But you can also choose to receive it annually or at the end of your CD term.
Rates as of June 7, 2024
APY = Annual Percentage Yield
Capital One 360 CD
Bottom Line
Backed by Capital One's well-known brand, the Capital One 360 CDs offer competitive rates across many common terms, though they're stronger in durations of a year or longer. There's no minimum deposit, so savers can benefit even if they don't have a large sum to deposit. Check Capital One's website for the most up-to-date rates.
MINIMUM DEPOSIT $0
| 6 Mo. APY | 9 Mo. APY | 1 Yr. APY | 1.5 Yr. APY | 2 Yr. APY | 3 Yr. APY | 4 Yr. APY | 5 Yr. APY |
|---|---|---|---|---|---|---|---|
| 4.25% | 4.25% | 5.00% | 4.45% | 4.00% | 4.00% | 3.95% | 3.90% |
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Capital One Small Business CDs
Capital One offers business CDs with reasonable minimum deposits and a variety of terms. If you want to learn more about the business CDs available in your area, you'll have to contact Capital One directly.
Compare CD rates
Looking to find a CD with a high APY? You'll find one on our list of the best CD rates.
Rates as of June 7, 2024
| Bank & CD Offer | APY | Term | Min. Deposit | Next Steps |
|---|---|---|---|---|
Member FDIC.
| APY: 4.70% | Term: 1 Year | Min. Deposit: $2,500 | |
| APY: 5.05% | Term: 1 Year | Min. Deposit: $1 | |
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| APY: 5.10% | Term: 9 Months | Min. Deposit: $1 |
Checking accounts
Capital One offers a couple personal checking accounts, plus options for business owners.
Capital One 360 Checking
The Capital One 360 Checking account is its personal checking account for adult customers. It pays a small amount of interest and gives you access to over 70,000 fee-free ATMs nationwide as well as Capital One's network of branches. You can also manage your money online. Like its other accounts, there are no fees or minimum balance requirements to open or maintain your Capital One 360 Checking account.
Member FDIC.
Ratings Methodology
Rates as
of Jun 26, 2024
Capital One 360 Checking
Member FDIC.
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Best
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= Excellent
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= Good
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= Fair
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= Poor
= Best
= Excellent
= Good
= Fair = Poor
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
![]()
![]()
![]()
![]()
![]()
= Best
![]()
![]()
![]()
![]()
= Excellent
![]()
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= Good
![]()
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= Fair
![]()
= Poor
= Best
= Excellent
= Good
= Fair = Poor- Branches and Capital One Cafes in some states
- Variety of accounts
- Robust digital platform and app
- Great customer service
- Higher APY available at other financial institutions
Capital One boasts a top-rated mobile app and has over 70,000 fee-free Capital One, MoneyPass, and Allpoint ATM locations. For those looking for face-to-face interaction, Capital One has over 450 locations and 50 Capital One Cafes, where customers can bank, get a cup of coffee, and ask for advice from a certified money coach. However the APY is lower than other online banks.
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Capital One MONEY Teen Checking Account
The Capital One MONEY Teen Checking Account is designed for kids between the ages of 8 and 18. It includes a modest interest rate and a fee-free debit card. Parents and guardians can monitor kids' activities, but parents don't get debit cards. There are no fees or minimum balance requirements.
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Capital One Business Basic Checking
The Capital One Business Basic Checking account is best for small business owners who receive a modest number of cash deposits and don't want to pay a per-transaction fee. You can deposit up to $5,000 at no charge, then pay $1 for every $1,000 you deposit after. Transactions are unlimited, and you can waive the $15 monthly service fee if your prior 30- or 90-day balance averages $2,000 or more. This account includes a debit card as well as online and mobile account access.
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Capital One Business Enhanced Checking
Capital One Business Enhanced Checking is the better fit for larger businesses with less than $40,000 in cash deposits each month. The $35 monthly fee is waived if your prior 30- or 90-day balance averages $25,000 or more, and you can tack on two Basic Checking accounts with no monthly fee. That way, you can divide money between different departments or keep it separated for different purposes.
Compare checking accounts
We recommend comparing checking accounts to make sure you're getting the best fit for you. Here's a list of our favorite accounts.
| Account | APY | Promotion | Next Steps |
|---|---|---|---|
Rating image, 5.00 out of 5 stars.
5.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
0%
Min. to earn: N/A
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Earn 1% cash back on up to $3,000 in debit card purchases each month (see details when you click 'Open Account')
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Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
up to 1.10%
Min. to earn: $1
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High APY when you complete 10 or more qualifying debit card purchases each month
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Rating image, 4.25 out of 5 stars.
4.25/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
0.40% (up to 3.30%)
Rate info
To earn the full APY, account holders must do all of the following: Receive monthly direct deposits totaling more than $1,500; make 10 transactions a month with your Axos debit card, or sign up for Axos's Personal Finance Manager; maintain an average daily balance of $2,500 per month in an Axos Invest Self Directed Trading Account; and use your Rewards Checking account to make your full monthly Axos Bank consumer mortgage, personal, or auto loan payment.
Min. to earn: Monthly direct deposits totaling at least $1,500
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Cash in on up to a $500 bonus† and up to 3.30% APY* with a new Rewards Checking account. Just use promo code RC500 before July 31.
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Customer experience
Capital One reviews suggest a mixed customer experience.
Customer reviews
Customer reviews are mixed. Recent Trustpilot reviews show that Capital One customers feel frustrated. They are upset about unclear credit card benefits and bank account late fees. Trustpilot's 1.3 rating is low, but it's actually standard for brick-and-mortar banks. Capital One has an A+ Better Business Bureau (BBB) rating. It suggests that the company replies to most business complaints.
On a positive note, Capital One got the highest customer satisfaction score among the largest U.S. banks in 2023. Its score was 706 out of 1,000. Though the bank got many complaints, it may offer better service than other big banks.
- Better Business Bureau rating: A+
- Trustpilot rating: 1.3
Customer service
Capital One offers a hybrid of in-person and online customer service. You can walk into a Capital One Cafe for help and coffee. Cafe reviews on Yelp are moderate, between 3 and 5 stars depending on location. Members like getting 50% discounts on drinks with Capital One's debit or credit cards.
Call center reviews are fairly negative. Reviewers express frustration at getting their problems solved by Capital One representatives. You may be better off visiting a Capital One branch or Cafe. Before signing up for Capital One for its in-person help, double-check there is a location near you.
You can contact Capital One by walking into a Cafe during open hours. These are typically from 8 a.m. to 6 p.m., but vary by location. Or, you can call customer service at 877-383-4802. You can chat with Eno, the Capital One chatbot, 24/7 via text or the Capital One mobile app.
Mobile app
The Capital One mobile app offers many features. You can:
- View balances and export statements
- Pay bills and take care of loans
- Check in on your credit with CreditWise
- Activate a credit or debit card when you need it
- Redeem rewards
- Send and receive money with Zelle®
Recent Capital One app reviews on the app stores are negative. Customers can do the basics on the app. But it often crashes and lacks modern features, like dark mode. Customers have had issues with passwords and frequent bugs.
The app lets you manage your account remotely. There are many features, but it's probably not as smooth as mobile-first banking apps. If you want a smooth in-app experience, you may want to bank elsewhere.
- App Store rating: 4.8 / 5 stars
- Google Play rating: 4.5 / 5 stars
Physical locations
Capital One has many physical locations, though not as many as some competitors. Capital One Cafes are unique in-person locations that let you open accounts with help. For full-service banking, you can visit a Capital One branch.
You can withdraw cash from over 70,000-plus ATMs in Capital One's network. You can deposit cash into your checking account at Walgreens or CVS.
To find the nearest Capital One Cafe, branch, or ATM, you can open the app. It will navigate you to the nearest location.
How does Capital One bank compare?
If Capital One doesn't have what you're looking for, one of these other banks might.
Capital One Bank vs. American Express® National Bank
American Express credit cards are well known, and it has recently branched out into banking. American Express® National Bank offers a single savings account, a checking account, and a few CDs, and competitive APYs. Like Capital One, American Express® National Bank doesn't charge maintenance fees. It also doesn't require customers to maintain a minimum balance.
Capital One Bank vs. CIT Bank
CIT Bank is an online bank. It offers checking, savings, money market, and CDs. The CIT Savings Connect account is especially impressive. All its accounts earn some type of interest and have no monthly maintenance fees. If customer service is important to you, be aware that it's not possible to get in-person help. But this may not bother you if you manage your money through your online account.
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Review sources
- https://www.capitalone.com/bank/savings-accounts/online-performance-savings-account/
- https://www.capitalone.com/bank/savings-accounts/kids-savings-account/
- https://www.capitalone.com/small-business/bank/products/savings/
- https://www.capitalone.com/bank/cds/online-cds/
- https://www.capitalone.com/bank/checking-accounts/online-checking-account/
- https://www.capitalone.com/bank/checking-accounts/teen-checking-account/
- https://www.capitalone.com/small-business/bank/products/checking/basic-checking/
- https://www.capitalone.com/small-business/bank/products/checking/enhanced-checking/
- https://www.statista.com/statistics/1293105/customer-satisfaction-leading-banks-usa/
- https://www.bbb.org/us/va/richmond/profile/credit-cards-and-plans/capital-one-financial-corporation-0603-21009223
- https://www.trustpilot.com/review/www.capitalone.com
- https://www.yelp.com/biz/capital-one-caf%C3%A9-los-angeles-10
- https://www.capitalone.com/local/
- https://www.capitalone.com/help-center/contact-us/
- https://www.capitalone.com/digital/eno/
- https://apps.apple.com/us/app/capital-one-mobile/id407558537?see-all=reviews
- https://play.google.com/store/apps/details?id=com.konylabs.capitalone&hl=en_US
- https://www.cit.com/cit-bank/resources/contact-us
- https://www.usnews.com/banking/articles/biggest-banks-in-america
- https://www.marketwatch.com/guides/banking/largest-banks-in-the-us
FAQs
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Yes, Capital One is a safe place to put your money. It has roughly $470 billion in assets, making it the U.S.'s ninth largest bank. Also, the FDIC insures deposits of up to $250,000 at Capital One. So, it is safe to deposit sums under that amount.
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Capital One is mostly an online bank, though it does have 300 branches and over 50 Capital One Cafes. You are most likely to have a location near you if you live in a big city.
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Capital One gets good reviews on its personal accounts and its teen accounts.
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Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Ally is an advertising partner of The Ascent, a Motley Fool company. Charles Schwab is an advertising partner of The Ascent, a Motley Fool company. Citigroup is an advertising partner of The Ascent, a Motley Fool company. American Express is an advertising partner of The Ascent, a Motley Fool company. SLM is an advertising partner of The Ascent, a Motley Fool company. Synchrony Financial is an advertising partner of The Ascent, a Motley Fool company. Discover Financial Services is an advertising partner of The Ascent, a Motley Fool company. Cole Tretheway has no position in any of the stocks mentioned. Kailey Hagen has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Apple, Charles Schwab, Goldman Sachs Group, PNC Financial Services, Target, and U.S. Bancorp. The Motley Fool recommends Barclays Plc and Discover Financial Services and recommends the following options: short June 2024 $65 puts on Charles Schwab. The Motley Fool has a disclosure policy.