Business Insider's personal finance team compared Capital One to the best banks and found it to be an industry leader. It especially stands out for its checking account and credit cards.
Capital One Bank Overview
Capital One recently acquired Discover. According to a press release, "Capital One and Discover customer accounts and banking relationships remain unchanged. Customers will be provided with comprehensive information in advance of any forthcoming changes."
That said, there are still things you can do now if you are a customer. For example, there is a 6-month period where banks have separate FDIC insurance coverage. After the 6-month timeframe, the bank accounts will no longer have separate coverage (with exceptions, like some CDs). You'll need to move money to a different bank if you exceed FDIC insurance limits and want to be covered.
Your Capital One bank account is FDIC insured for up to $250,000, or up to $500,000 for a joint account.
Between the bank's ATMs and partner ATMs, you have access to over 70,000 ATMs nationwide. The bank doesn't charge a fee if you use an out-of-network ATM, but it doesn't reimburse any out-of-network fees charged by an ATM provider.
The website is easy to navigate, and its mobile app has received 4.9 out of 5 stars in the Apple store and 4.5 out of 5 stars in the Google Play store.
If you want to speak with an agent on the phone, you can call between 8 a.m. and 11 p.m. ET. You can also visit a Capital One 360 branch or Café for in-person help; the hours for these locations will depend on where you are. Some customers are able to use the bank's AI assistant, Eno, by talking to it through the mobile app, the website, or text messages, but this feature isn't available to all customers yet.
Capital One Bank Near Me
The bank has over 260 branches across Louisiana, Maryland, New Jersey, New York, Texas, Virginia, and Washington, DC. It also has dozens of Capital One Cafés, where you can grab Verve Coffee, speak with an ambassador money coach, and open a bank account.
This bank is an online operation. You can have a hybrid in-person/online banking experience if you live near a branch or Café, or you can bank completely online.
Capital One Monthly Maintenance Fees
Capital One personal checking and savings accounts don't come with monthly maintenance fees, making it a good option if you're hoping to avoid bank fees. Some of its business checking and savings accounts come with monthly service fees, though; if you don't want to pay extra, check to see if you'll be able to waive the fee.
Capital One ATM and Overdraft Fees
Capital One doesn't charge overdraft fees, making it one of the best banks for avoiding overdrafts. It offers a couple of options for overdrafts: you can either automatically transfer money from your savings account whenever you overdraft or allow fee-free overdrafts when they're approved by the bank. If you don't choose either option, you won't be able to overdraft your account.
It has an expansive ATM network through its own ATMs, MoneyPass ATMs, and Allpoint ATMs, and you'll not be charged a fee if you use an ATM in that network. If you use an out-of-network ATM, you still won't be charged by the bank; however, the ATM you're using might charge a fee. The best banks for avoiding ATM fees will reimburse a certain amount of out-of-network fees each month.
Capital One Mobile App Features
The Capital One mobile banking app lets you access your banking and credit card accounts. It's a well-rated app, with at least a 4.5-star rating on both the Google Play store and the Apple App store. It's also rated highest in mobile app satisfaction, according to the J.D. Power 2025 U.S. Banking Mobile App Satisfaction Study with a score of 693 out of 1,000.
Some mobile app users have access to advanced features, like being able to monitor and block your recurring subscriptions and being able to check on upcoming bills. Both mobile app and website users can access a virtual version of their credit card with a different number for each online merchant, which can make online purchases both easier and safer.
If you use budgeting apps or financial wellness tools, you'll probably be able to easily link your account to them. It might not be so easy if you use a less well-known bank. The bank also offers CreditWise, which is a separate mobile app that helps you monitor your credit score from TransUnion.
Capital One Online Banking Tools
You can also access Capital One on its website or over the phone. Unlike many online banks, however, you can also access the bank in person at one of their physical branches or cafés. This means you'll have more options for how you bank than you would with a standard online bank.
It also offers Capital One Shopping, which is a digital coupon service. If you're shopping on your desktop, you can use it to automatically find and test coupon codes for your purchases.
Capital One Security
Capital One keeps your money secure in many ways. It is FDIC-insured, which means your money is insured up to $250,000 for individual accounts and $250,000 per depositor for joint bank accounts.
The bank encrypts your data to keep your information secure. It also provides fraud protection services, letting you lock your debit card quickly through the mobile app or over the phone, flagging your card if it suspects someone's using your card to make unauthorized purchases, and letting you report unauthorized purchases. You can also make your account safer by setting up two-factor authentication and keeping track of the charges to your account.
Capital One Bank Pros and Cons
Capital One Bank Pros
- Strong digital banking platform
- Competitive savings rates
- Specific accounts for kids and teens
- Early direct deposit
Capital One Bank Cons
- No money market accounts
- Might have to deal with out-of-network ATM fees
Banking Options with Capital One
Capital One 360 Performance Savings
Capital One 360 savings account interest rates are pretty high, although they aren't as high as what the top high-yield savings accounts offer.
Your child can earn 2.50% Annual Percentage Yield (APY) with a kids savings account, and the rate will jump up to the regular interest rate once they turn 18.
Capital One 360 Checking
Capital One has one of the best checking accounts. There are no monthly fees, and you have two solid overdraft services: free savings transfers and no-fee overdrafts.
With free savings transfers, you'll link your checking account to a savings account. If you overdraw from your checking account, it will make one transfer to cover your overdraft.
No-fee overdraft is a service where the bank approves check payments, bill payments, or recurring debit payments even if it results in a negative balance for your account. To qualify, you'll need to receive at least $250 in direct deposits during two of the three previous months.
The account also has an early direct deposit feature so you can receive paychecks up to two days early.
Capital One 360 CD
3.50% to 4.00%
$0
Pros
Cons
- Terms ranging from 6 months to 5 years
- No minimum deposit
- Early withdrawal penalties ranging from 3 to 6 months interest
- Compounding interest to maximize your earnings
- FDIC insured
Capital One CD rates are pretty competitive, but you still might find the best CD rates with other online banks. The institution's CDs come with term lengths ranging from six months to five years. Capital One does set itself apart by not requiring an initial deposit to open a CD — most banks ask for around $1,000.
Some banks offer more types of CDs, such as a no-penalty or jumbo CD. Your only option here is a regular term CD unless you go with another bank with better variety and CD rates.
Capital One Business Bank Accounts
The bank also offers business checking accounts and business savings accounts for small business owners. Both types come with monthly service fees, although they let you waive them if you meet certain requirements. If you're looking for free business bank accounts, you might want to go with another bank.
Capital One Personal Credit Cards
The bank has excellent personal credit cards. Several of its credit cards made our best credit cards guide.
The best Capital One credit cards offer impressive travel rewards and cash back options. Many of them also have noteworthy sign-up bonuses if you meet certain criteria.
- Capital One Venture Rewards Card Review
- Capital One Venture X Rewards Card Review
- Capital One VentureOne Rewards Card Review
- Capital One Platinum Card Review
- Capital One Platinum Secured Card Review
- Capital One Savor Card Review
- Capital One Savor Student Card Review
- Capital One Quicksilver Cash Rewards Card Review
- Capital One Quicksilver Secured Cash Rewards Card Review
- Capital One Quicksilver Student Cash Rewards Card Review
- Capital One QuicksilverOne Cash Rewards Card Review
Capital One Small Business Credit Cards
Capital One also offers strong business credit cards for small business owners. It offers both cash-back business credit cards and travel business credit cards.
- Capital One Venture X Business Card Review
- Capital One Spark Cash Select for Business Card Review
- Capital One Spark Miles for Business Card Review
- Capital One Spark Cash Plus Card Review
- Capital One Spark 1% Classic Card Review
- Capital One Spark Miles Select Card Review
Is Capital One Trustworthy?
The Better Business Bureau rates businesses by how they deal with customer issues and handle transparency. Capital One has an A+ rating because it's received a high volume of customer complaints on the BBB website. A good BBB rating signifies a company responds effectively to customer complaints, has honest advertising practices, and is transparent in how it handles business.
The company does have a recent controversy, though. Capital One used to have an account called 360 Savings. In 2019, Capital One launched the new 360 Performance Savings Account, which paid a much higher interest rate. Many customers thought their old savings accounts would transition into this new one, but in reality, they had to open a new 360 Performance Savings Account to earn the higher rate. So some customers have been earning a significantly lower savings rate for years.
In a notice sent to a federal court in Virginia, Capital One said it will pay $425 million to settle a class-action lawsuit. The bank has admitted no wrongdoing. However, it still needs to be approved by a judge.
Capital One Bank Alternatives
Capital One vs. Ally
Ally Bank will be the strongest option if you'd like to open a money market account, because Capital One doesn't have one.
For savings accounts, it could be a close toss-up between Ally versus Capital One. Each has a similar structure to their savings accounts.
If you're looking to open a checking account, Capital One might be more appealing. It offers more ways to access your account. The bank also has physical locations in some states and a bigger ATM network.
Capital One vs. Chime
If you're trying to decide between Chime® versus Capital One, consider which types of bank accounts you'd like to open. Chime® doesn't offer CDs, while Capital One does.
You'll have to open a checking account with Chime to qualify for a savings account. Its checking account is solid, but it doesn't have as many overdraft options as Capital One.
Capital One Account Opening Process
Opening an account at Capital One is similar to opening accounts with other banks. The exact process depends on whether you go to a branch to open an account, open an account over the phone, or open an account online. No matter what, what you need to open a bank account is a form of official ID (such as a driver's license, Social Security card, passport, or birth certificate) and proof of address.
For some things, such as getting a credit card, you might need to provide a Social Security number; other accounts might allow you to provide an Individual Taxpayer Identification Number instead, making it potentially a good bank for immigrants.
Once you have that information ready, you'll fill out an application. Once you've submitted your application, you'll generally be approved pretty quickly — usually within a few minutes, but occasionally within a few days. Notably, the bank does not use ChexSystems to assess your risk as a new customer, which could make it a good choice for a second chance bank account. Some banks require a minimum opening deposit when you open an account, but it doesn't — even for CDs, which is pretty rare.
Why You Should Trust Us: How We Reviewed Capital One Bank
When we rate a bank, we consider ethics, security, miscellaneous features, customer support, and the mobile app. For our Capital One review, we consider factors like the interest rate, minimum opening deposit, fees, and more.
We rate bank accounts on a scale from one to five stars. We use a weighted average to get our star rating, which means we weigh certain features, like interest rates and fees, at a higher weight percentage than others. We understand that these areas can more heavily impact a person's overall banking experience.
Read more about how Business Insider rates CDs, checking accounts, and savings accounts.
Our Capital One Bank Rating
| Feature | Business Insider's Rating (out of 5) |
| Banking | 4.25 to 4.75 |
| Credit Cards | 2.38 to 4.85 |
| Trustworthiness | 4 |
| Total score | 4 |
Capital One Bank FAQs
What is Capital One?
Capital One is an online financial institution. Its services include savings accounts, checking accounts, CDs, credit cards, and loans. It offers both personal banking products and business banking products.
Are there Capital One checking account fees?
You'll need to watch out for fees charged by out-of-network ATMs, although the bank will not directly charge out-of-network ATM fees. There are also fees for cashier's checks and outgoing domestic wire transfers.
Is Capital One FDIC insured?
Yes, Capital One is FDIC-insured. Your bank account is FDIC insured for up to $250,000 per depositor, per account ownership category.
Is Capital One a good online bank?
Capital One is a good online bank if you want access to a great checking account and strong credit cards, along with being able to bank in-person and online. Cons include interest rates not being quite as high as what you'd find at other online banks, although they're still much higher than the national average.
Chime® Disclosures:
Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC.
Out-of-network ATM withdrawal fees may apply except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM.
Early Pay: Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.
The Annual Percentage Yield ("APY") for the Chime Savings Account is variable and may change at any time. The disclosed APY is effective as of September 20, 2023. No minimum balance required. Must have $0.01 in savings to earn interest.
Round Up: Round Ups automatically round up debit card purchases to the nearest dollar and transfer the round up from your Chime Checking Account to your savings account.
SpotMe® on Debit is an optional, no fee overdraft service attached to your Chime Checking Account. To qualify for the SpotMe on Debit service, you must receive $200 or more in qualifying direct deposits to your Chime Checking Account each month and have activated your physical Chime Visa® Debit Card or secured Chime Credit Builder Visa® Credit Card. Qualifying members will be allowed to overdraw their Chime Checking Account for up to $20 on debit card purchases and cash withdrawals initially but may later be eligible for a higher limit of up to $200 or more based on Chime Account history, direct deposit frequency and amount, spending activity and other risk-based factors. The SpotMe on Debit limit will be displayed within the Chime mobile app and is subject to change at any time, at Chime's sole discretion. Although Chime does not charge any overdraft fees for SpotMe on Debit, there may be out-of-network or third-party fees associated with ATM transactions. SpotMe on Debit will not cover any non-debit card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. SpotMe on Debit Terms and Conditions.
Money added to Credit Builder will be held in a secured account as collateral for your Credit Builder Visa card, which means you can spend up to this amount on your card. This is money you can use to pay off your charges at the end of every month.
The secured Chime Credit Builder Visa® Credit Card is issued by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. Please see the back of your card for its issuing bank.
On-time payment history may have a positive impact on your credit score. Late payment may negatively impact your credit score. Chime will report your activities to Transunion®, Experian®, and Equifax®. Impact on your credit may vary, as Credit scores are independently determined by credit bureaus based on a number of factors including the financial decisions you make with other financial services organizations.
Qualifying Direct Deposit: The qualifying direct deposit must be from your employer, payroll provider, gig economy payer, or benefits payer by Automated Clearing House (ACH) deposit OR Original Credit Transaction (OCT). Bank ACH transfers, Pay Anyone transfers, verification or trial deposits from financial institutions, peer to peer transfers from services such as PayPal, Cash App, or Venmo, mobile check deposits, cash loads or deposits, one-time direct deposits, such as tax refunds and other similar transactions, and any deposit to which Chime deems to not be a qualifying direct deposit are not qualifying direct deposits.
Save When You Get Paid: Save When I Get Paid automatically transfers 10% of your direct deposits of $500 or more from your Checking Account into your savings account.
Once the retailer accepts your cash, the funds will be transferred to your selected Chime Account. Barcode and debit card cash deposits land in the Checking Account. Credit Builder card cash deposits first go through your Card Account and then land in your Secured Account. Cash deposit fees may apply if using a retailer other than Walgreens and Duane Reade.
Tax e-file services provided by April Tax Solutions Inc. ("april") or Column Tax, Inc. ("Column Tax"). These tax filing offers are not endorsed or offered by our partners, The Bancorp Bank, N.A. or Stride Bank, N.A.
Maximum refund guarantee is provided by april or Column Tax. If you use april's service to prepare and file your return and you find an error in the tax preparation that entitles you to a larger refund (or smaller liability), you may use their service to amend that return at no additional charge. To qualify, the larger refund or smaller tax liability must not be due to differences or inaccuracies in data supplied by you, your choice not to claim a deduction or credit, positions taken on your return that are contrary to law, or changes in federal or state tax laws. See here for details. If you use Column Tax's service, Column Tax will reimburse you for up to $250 if you are able to pay less federal or state income tax or receive a larger federal or state income tax return by using another tax return preparation provider. Eligibility requirements apply. See terms for details.
If the april tax preparation software makes a mathematical error that results in your payment of a penalty and/or interest to the IRS that you would otherwise not have been required to pay, april will reimburse you up to a maximum of $10,000. See april terms for details. If interest and/or a penalty is imposed by the IRS as a result of a computational error by Column Tax, you may be entitled to up to $10,000 reimbursement by Column Tax. See Column Tax terms for details.
There are no fees required to use this product. Chime does not require you to deposit your refund into your Chime Account to qualify for free tax filing. Certain costs may be incurred if you decide to obtain other optional financial products offered in relation to your tax filing. The Internal Revenue Service (IRS) may impose penalties or other charges depending on your personal tax situation. If the april tax preparation software makes a mathematical error that results in your payment of a penalty and/or interest to the IRS that you would otherwise not have been required to pay, april will reimburse you up to a maximum of $10,000. See april terms for details. If interest and/or a penalty is imposed by the IRS as a result of a computational error by Column Tax, you may be entitled to up to $10,000 reimbursement by Column Tax. See Column Tax terms for details.
Chime does not guarantee timing of refund. Six day refund estimate is based on 2023 tax year filing data. Refund timing estimates are dependent upon timing of complete tax return submission and when the IRS submits your refund.
