Capital One 360 Checking Account Reviews - What Is It?
WARNING: DO NOT USE Capital One 360 Checking Account Until You Read This Review!
Is it a Scam? Does It Really Work?
Capital One 360 Checking Account has become quite popular among banking customers and financial experts lately, mainly, due to its low fees. However, this account has its drawbacks, too. That is why it is important to make sure whether this account is right for you by figuring out what prevails - weaknesses or strengths. Pay attention to what other account's customers say about it and finally make your own decision. We are going to hit these key areas in this review. We'll do an overview of the advantages and disadvantages of this checking account.
Speaking about the main benefits of the Capital One 360 Checking Account, it is important to say that the money you deposit to your account earns interest. Thus, balances up to $49,999 earn 0.20% of interest; balances from $50K to $99,999 earn 0.75% of interest, while balances from $100K and more earn 0.90% of interest. To calculate your interest payment every day you will need to divide the yearly rate by 365. Then just multiply that number by your balance and add it to your account.
Customer Reviews - Does Capital One 360 Checking Account Really Work?
If you look at the customer reviews of the Capital One 360 Checking Account, you will see that most of them average from two to four stars. Most of the negative testimonials about the product seem to be recent and report poor customer service, the bugs that foiled remote check deposits, and some delays for transfers from one account to another. Fortunately, most reviews are still positive which means that this account deserves your attention. One man writes that he has always loved this bank and can recommend it to everyone he knows. But there was one problem a few months ago, when many users couldn't deposit checks at all. It took about three weeks to fix the issue. This was the only frustrating moment for this user. He hopes that it won't happen again, already.
There are many other positive reviews of the bank from other users. Two of the four websites contain reviews for the Capital One 360 Checking account with an average rating of four stars. One typical positive comment describes a woman who has had her Capital one 360 Checking for the last two years. She claims that it is convenient and easy to use as she can freely link other capital one accounts together. This makes it possible to transfer finances between the accounts for free. It is necessary to add that there are no hidden fees! Actually, there was a time when checking account fees were normal. But these accounts faced severe competition from new companies offering completely free checking accounts. Today, Capital One 360 Checking Account is a leading no-fee checking account. Americans have too many fees to pay each month without those banking fees. This is the main reason why many banks have made their accounts absolutely free these days. Despite great innovations to bank services over the last ten years, they have allowed their customers to use them in the most convenient and no cost way.
One of the cons of the Capital One 360 Checking Account described online is limited locations. Not everyone likes the idea of working with an "invisible" bank. Many people prefer to use a bank that has physical locations. Their physical locations can be found in the following states: District of Columbia, Connecticut, Delaware, Maryland, Louisiana, New Jersey, Texas New York and Virginia. However, some customers trust the bank even if it is not physically locate in their state. If you value getting bank services for free, do not be afraid, as this bank has gained good reputation. It is high time to take a look at what real users think about the Capital One 360 Checking Account. Here are some of their testimonials.
"I love my Capital One 360 Checking Account very much. This checking account is easy to use online. I don't even need to go to the bank as I can do everything through my cell phone. Capital One is a wonderful company that has helped me to build my credit, save money, and even have extra money left over. I had several issues but every time I contacted their customer service the representatives of which were always helpful and supportive. I have a checking account, credit cards, and a savings account from the company, I am happy with all three."
"I have had my Capital One 360 Checking Account for about six months now and I am glad to deal with it. The main advantage of this account is that it has no fees unlike many other banks. I have never been charged for overdrafts, I just pay interest on the sum of money I use. I think it is fair and I don't have any complaints about them at all. I do recommend this account and company to everyone."
"I got my Capital One 360 Checking Account about three months ago and I love it so much! I am not going to return a traditional account ever. I applied for the over draft protection account and I love the fact that I can always see my account on my personal page on their website. Their website is so easy to use and understand. The customer service deserve separate attention, the staff of the company are always kind and helpful. I am treated as a valued customer. I also even got the app on my phone which allows me to see my savings account and my credit cards whenever I want. This card has no fees or minimums. Try it too!"
My Final Summary
Like every financial product, Capital One 360 Checking Account has its own positives and negatives. According to our research, the main positive with this checking account is its low fees. Many consumers like this fact and do not even care that there is no physical bank representing Capital One in their state. You don't have to pay any fees for having an account. The company won't charge you a monthly fee for using your account, they don't require a minimum balance and don't charge you to transfer money to another Capital One customer or to make BillPay payments. ATM withdrawals are absolutely free from a Capital One Bank and ATM in the Allpoint network. There are more than 38,000 machines across the country. Just find the closest one to you with the help of the Allpoint's ATM Locator and enjoy it. The company won't charge you for use an out-of-network ATM. But the owner of that ATM might charge you a nominal fee.
The other advantages of the Capital One 360 Checking account include mobile deposits, branch access, and online transfers. So, if you would to become a customer of a bank with brick-and-mortar branches, Capital One's 360 Checking account might be a great option for you. You will appreciate its no-fee structure and basic locations across the East Coast of the USA. The only drawback here is that you may live far from the East Coast; nevertheless, you can use your account through Capital One website. In general, we think that the Capital One 360 Checking account deserves your attention. It is an excellent choice compared to the competition. Taking into account all pros and cons of this account, I can recommend it to usage.
Capital One 360 Checking Account Pricing and Rates
Let us take a look at the rates of the Capital One 360 Checking Account Range. If you open an account with $1 - $49,999.99 the interest will be 0.199% and APY will be 0.2%. Having $50,000 - $99,999.99 on your account, you'll need to pay 0.747% interest and 0.75% APY. The interest rate for more than $100,000 will be 0.896% and the APY will be 0.9%.