Capital One is an American bank that mainly features credit cards, auto loans, banking, and saving accounts. This bank has headquarters in Mclean, Virginia, and they are in the United States for the operation. Moreover, it is one of the largest banks that you can find in the U.S that mainly made its reputation through its advanced technology. This bank has 755 branches in total in the U.S, and from those branches, there are 30 café style locations with 2000 ATMs. Capital one bank has three divisions that it does its job: consumer banking, credit card, and commercial banking. This bank ranks in the top 10 banks in the U.S, which makes it suitable for your banking.
What Should I Know About Capital One?
Capital One is known for its popular credit cards (which you can see here and here ) and entered the banking world in 2012 with the acquisition of E-Direct and renamed the service Capital One 360 Banking. The Bank operates today as Capital ONE 360 Direct, a bank that provides regular banking services such as checking accounts, savings accounts, and money markets. The Capital Ones “top-rated mobile app is designed to simplify transfers between their accounts and external accounts at different banks.
Capital one is one of the top-notch banks you can find in the U.S. their services and other features are very useful; however, you will have to know about it. Mainly capital one offers useful online banking features, and you will not find them in any other bank. Its online feature will certainly save some of you money in your day-to-day transactions. Here are the things that you should know about capital one bank, and you will find some differences in it from other types of online banks.
Capital One Bank Offers Basics
Capital One cardholders have an offer for a cashback saving program. You can have it by clicking on the request on their official website; however, you will have to do it before making a purchase or a transaction. For this reason, cardholders of capital one earn statement credit every time they tap on the offer. Furthermore, there are over 100 merchants where you can save your using one of the offers that the capital one has. However, these offers are only available in the United States, while this option is only on this website and their mobile app. Nevertheless, you should beware that you can get into the offer even if you do not have a credit card. So, you should always make sure that you have an eligible credit card in your account, or it will be a disaster for you.
Capital Ones 360
In addition to Capital One Banks’ credit card portfolio, the bank also offers consumers various current and savings products, including the Capital One Bank 360 brand savings accounts. Capital One 360 also takes financial education seriously, offering additional tools for online banking customers to improve their money knowledge, such as the wallet app that tracks your purchases. A number of coffee shops on the other side of the bank are designed like cafes. Still, the difference is that customers learn about things like mortgage applications over a cup of Joe and a biscuit, and Capital One employees operate the cafes.
Capital Ones 360 current and savings accounts are an online division of the traditional Capital One Bank, where customers complete transactions online. You can get branch help at the Capital One Cafe, but the Capital One 360 product model is an all-online bank that doesn’t offer fees and accounts that yield higher returns than traditional banks like Chase and Bank of America. When children reach the age of 18, they can switch to a 360 degree checking account for further features.
Capital One 360 Banking offers versatile accounts for most needs, including children’s accounts, individual retirement accounts, and CDs, paired with Capital One’s savings and current accounts. To access your Capital One accounts, the Capital One mobile app has various tools to ensure smooth banking. The highly-rated Capital One 360s mobile app provides smooth management of your money and includes features for digital, cell-powered personal payments, as well as the ability to link your Capital One 360s debit card to Apple Pay, Android Pay, and Samsung Pay.
Capital One Kids Savings Account has no monthly maintenance fees and no minimum balance requirements – perfect for children of all ages. You also have the option of opening a separate checking account and bank account for your child under 18.
The Child Savings Account allows parents or legal guardians to open a linked account for minors under 18 to inform them about money and savings and compound interest benefits. The account is insured with the FDIC, and you can use 360 to deposit and check your balance. There is no 360 Banking account fee and no minimum required to open and maintain the account.
Cards That Are Eligible For Their Offers
The offers from the capital one bank are only eligible for credit cards in the United States. Moreover, the card you have should have open and in good standing to have their saving program. Capital one bank also specifies that the checking and savings accounts and a business credit card are not eligible for their saving program. Other than that, this bank did not wholly determine all of the business cards suitable for it. For this reason, you should always check your account and see that the “Earn Credits for Shopping” section are in your account dashboard. The capital bank offers works the same whether your credit card works for miles or cash back. Whatever the reason, you will earn statement credit every time you use its offer.
However, there is no other way you can earn your statement credits. As some of it is limited to consumer credit cards, a small credit card is not eligible for its offers. Small businesses can use other types of saving programs and take benefits from them through capital one bank.
How To Use Its Offers
The offers that capital one has worked a little differently from other types of famous online banking offers. Most of the programs that they have cardholders will need to enroll in that offer on the website. After that, you will have to purchase from your card with the term’s offer. Instead, that capital one gives its request as a shopping portal. When you click on the offer on the website, it will hook you to the merchant website. There you will have to complete the purchase that you started on that website.
For this reason, you will have to purchase in the offer section to save some of your money. You will only have 24 hours to complete the purchase after you have clicked the link. You will also have to have a proper online card eligible for your online purchase in your purchasing session. For being safe, make sure that you have everything ready before purchasing the offer on the website.
To withdraw money from an ATM, you must transfer it to a checking account. The bank’s Regulation D limits monthly withdrawals from savings accounts to a maximum of six. Getting cash in the branch is not your limit, but you will be charged a fee, and your account will be closed if you exceed your bank’s monthly withdrawal limit.
No Piling Opportunities
One big downside of the online Capital one bank is that you will not be able to stack multiple offers in your saving programs. The term of the will only need you to use your enrolled card. After that, the bank will check the transaction for your eligible purchase. However, the card offer can stack it multiple times in many other online saving portals. Whereas in the case of capital one, you will not be able to open another portal simultaneously. Hence this will significantly reduce the potential savings that you can have.
A Bank For Every Need
The robust product offerings of checking accounts, savings accounts, CDs, credit cards, car loans, and commercial banks make Capital One the best one-stop financial service company. Capital One 360 Banking offers versatile accounts that meet most needs, including child’s accounts, individual retirement accounts, and CDs that suit Captial One’s savings and current accounts well.
Unlike APYs, which dominate Chase Banks “offerings, regular current and savings accounts have no fees or minimum balances. Two regular savings accounts — one for adults and one for children — and an individual retirement savings account offer competitive rates with no fees and no minimum deposit requirements. There are no minimum fees for checking accounts, making Capital One a good choice for fee-conscious customers with small bank balances.
Is Capital One A Good Bank?
Capital one is one of the top-notch banks in the United States and has many valuable features for its users. They have a unique banking experience and good customer service for their users. Their technology for online banking has no-fault and does its task with at most precision. Its saving accounts are good and have many valuable offers on its online banking site. The capital bank is safe to use for your transactions and saving. So it makes it a decent bank to do your thing.
The Bottom Line
Capital one is a beneficial bank if you look into its features. However, the things that we have stated above are things you should know before starting it. It’s perfectly safe and has many offers for eligible cardholders and saving accounts. However, that one downside can prevent you from having potential savings for yourself. Other than that, it is suitable for your daily day-to-day transaction with reliable customer service. If you want the convenience of a great online bank with no travel worries, a great selection of banking products and tools, a great mobile app, excellent customer service, and hassle-free transactions, look no further than Capital One 360. A Capital One checking account select rate charge saves you monthly fees an average of $15 a month, well below many other banks charge.