Capital One 360 is a popular and well-regarded online banking service that provides a suite of financial products with competitive features and no monthly fees. As an online-only bank, Capital One 360 offers customers the flexibility and convenience of banking from anywhere without the overhead costs that traditional banks face. In this article, we’ll explore everything you need to know about Capital One 360, including its products, benefits, fees, and how it compares to other leading online banks.
Overview of Capital One 360
Capital One 360 is part of Capital One, one of the largest banks in the United States. Since its launch, it has made a name for itself by offering accessible, fee-free banking solutions with high-interest rates on savings products. Capital One 360 aims to cater to consumers looking for easy-to-use, digital-first financial services, allowing users to manage their finances entirely online.
Key Features:
- Online and Mobile Banking: Capital One 360 offers both a highly rated mobile app and online platform, allowing users to access their accounts, pay bills, transfer money, and more from any device.
- Fee-Free Banking: Most Capital One 360 accounts have no monthly maintenance fees, which is a big plus compared to many traditional banks that charge monthly fees.
- Convenient Access to ATMs: Capital One 360 customers have access to over 40,000 ATMs nationwide through the Allpoint® network.
Capital One 360 Products
Capital One 360 offers a variety of banking products, including checking and savings accounts, CDs, and an investment platform. Below is an overview of the most popular Capital One 360 products:
1. Capital One 360 Checking
The Capital One 360 Checking account is an online-only checking account with several standout features:
| Feature | Details |
|---|---|
| Monthly Fees | No monthly fees |
| ATM Access | Free access to 40,000+ ATMs via Allpoint® and Capital One ATMs |
| Mobile Check Deposit | Available via the mobile app |
| Overdraft Fees | No overdraft fees with 360 Checking if linked to savings |
| APY (Interest Rate) | No interest rate for basic checking |
Advantages:
- No Monthly Fees: Capital One 360 Checking is free to maintain, which is a significant advantage compared to many traditional banks that charge monthly fees.
- Free ATM Access: Customers have access to a network of 40,000 ATMs for free. Additionally, Capital One covers up to $15 in fees charged by non-network ATMs each month.
- Mobile App: Capital One’s mobile app is highly rated for its user-friendly interface and ease of use, including bill pay, account transfers, and mobile check deposit.
Comparisons:
- Chase Total Checking®: While Chase offers some perks such as branch access, it charges a $12 monthly fee, unless specific conditions are met (direct deposit, minimum balance). In contrast, Capital One 360 offers a completely fee-free experience.
2. Capital One 360 Performance Savings
The Capital One 360 Performance Savings account is designed for individuals who want to earn a competitive interest rate on their savings without paying monthly fees.
| Feature | Details |
|---|---|
| Interest Rate (APY) | Currently 4.30% APY (as of 2025) |
| Monthly Fees | No monthly maintenance fees |
| Minimum Balance | No minimum balance required |
| ATM Access | None (online transfers only) |
| Account Linking | Easy link with 360 Checking account |
Advantages:
- High-Interest Rate: Capital One 360’s performance savings account offers a competitive interest rate that is higher than many traditional savings accounts and rival online banks.
- No Fees: There are no monthly fees or minimum balance requirements, which makes this account ideal for those who want a simple and flexible way to save money.
- FDIC Insurance: As with all Capital One products, deposits are FDIC-insured up to the maximum limit.
Comparisons:
- Ally Bank Online Savings Account: While Ally Bank offers a similar APY (4.00% as of 2025), Capital One 360’s Performance Savings has a slightly higher interest rate and provides easy integration with 360 Checking accounts.
3. Capital One 360 CDs (Certificates of Deposit)
Capital One offers a range of CD options with varying terms and competitive interest rates. The benefits of Capital One 360 CDs include flexibility and high rates for long-term saving.
| Feature | Details |
|---|---|
| Interest Rates | Rates vary by term, up to 4.50% APY |
| Minimum Deposit | $0 to $500 depending on the term |
| Terms | From 6 months to 5 years |
| Early Withdrawal Fees | Yes, penalties for early withdrawal |
Advantages:
- High-Interest Rates: Capital One 360 offers competitive interest rates on their CDs, which can be a great option for savers looking for guaranteed returns over a fixed term.
- No Account Fees: There are no monthly fees or maintenance fees, making it a solid choice for those who want to lock in their savings for a higher return.
- FDIC-Insured: Like other Capital One products, your funds are fully insured by the FDIC up to $250,000.
Comparisons:
- Marcus by Goldman Sachs CD: Marcus offers slightly higher rates for longer terms, but Capital One 360 provides more flexibility with terms and the ability to manage your account via their mobile app.
4. Capital One 360 Money Market Account
Capital One’s 360 Money Market account is another way to earn interest while keeping your money accessible. It’s a hybrid between a savings and checking account, offering a competitive interest rate.
| Feature | Details |
|---|---|
| Interest Rate (APY) | 4.30% APY (as of 2025) |
| Monthly Fees | No monthly fees |
| Minimum Balance | No minimum balance requirement |
| Check Writing | Yes, 6 withdrawals per month allowed |
Advantages:
- Higher Interest Than Standard Savings Accounts: The money market account offers a solid APY, higher than a traditional savings account and competitive with many online-only banks.
- Access to Checks: Unlike standard savings accounts, this product allows limited check-writing capabilities.
- Fee-Free: There are no fees to open or maintain the account, making it a solid choice for those who want to save without worrying about penalties.
Comparisons:
- Discover Money Market Account: While Discover also offers a similar interest rate, Capital One 360’s flexible access and the absence of monthly fees make it more attractive to those who want to keep their banking costs low.
Capital One 360 vs. Other Online Banks
| Bank | 360 Checking Fees | 360 Savings APY | CD Rates (5-year term) | ATM Access |
|---|---|---|---|---|
| Capital One 360 | No monthly fees | 4.30% APY | Up to 4.50% | 40,000+ ATMs via Allpoint |
| Ally Bank | No monthly fees | 4.00% APY | Up to 4.55% | 43,000+ ATMs (via Allpoint) |
| Marcus by Goldman Sachs | No monthly fees | 4.10% APY | Up to 4.75% | No free ATMs |
| Chime | No monthly fees | N/A | N/A | 24,000+ ATMs via MoneyPass |
How to Open a Capital One 360 Account
Opening a Capital One 360 account is straightforward:
- Visit the Website: Go to Capital One’s website.
- Choose Your Product: Select the account type (Checking, Savings, Money Market, CD).
- Provide Personal Information: You will need to provide details like your name, address, Social Security number, and email.
- Fund Your Account: Transfer funds from an external bank account or deposit via check or direct deposit.
- Enjoy Online and Mobile Access: Once your account is open, you can access it through Capital One’s mobile app or website.
Conclusion
Capital One 360 offers a comprehensive suite of banking products, with competitive interest rates, no fees, and the flexibility to manage your finances online or through its mobile app. Its no-fee approach, combined with high rates on savings and checking products, makes it an attractive option for those who prefer a digital banking experience. Whether you’re looking to open a checking account, save for the future, or lock in a CD, Capital One 360 offers a solid set of products to help you achieve your financial goals.
For more detailed information, you can visit Capital One 360’s official site.
