Well, well, aren’t we all excited about discussing Capital One 360 Bank? It may not have had its fifteen minutes of fame on our list of the best online banks, but despite not being in the spotlight, this one definitely has some impressive tricks up its sleeve!
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CAPITAL ONE 360 BANK REVIEW OVERVIEW
Fancy shiny consumer accounts, a rock-star mobile banking app, and a rather solid reputation of being one of America’s 10 largest banks according to the Federal Reserve – that’s Capital One 360 Bank for you! Can you handle the heat? Let’s dive right into the pros and cons, shall we?
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CAPITAL ONE 360 PROS AND CONS
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Upside
- No monthly fees, overdraft charges, or silly minimum balance rules? Check.
- Want to open an account with just a penny? No problem!
- Savings accounts and CDs that give other banks a run for their money with competitive APYs
- Random welcome bonuses and promos that appear like magic
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Downside
- Less variety in account types – if you’re a fan of choices, this may disappoint you.
- Not many options for depositing cash (unless you’re okay with running to the nearest Capital One ATM or CVS.)
- No reimbursement of ATM fees from other banks – a bummer, right?
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PROS EXPLAINED
Okay, let’s strip down those pros a bit, shall we?
#### NO MONTHLY, OVERDRAFT, OR MINIMUM BALANCE FEES
Who said you need to have a fat balance to avoid those pesky monthly fees? Not at Capital One, my friend! And if you dive into the red, you’re safe from overdraft charges too!
#### NO MINIMUM DEPOSIT TO OPEN
Unlike those ‘other banks’, Capital One won’t demand a fortune to open an account. Start your journey with as much (or as little) as your heart desires.
#### COMPETITIVE INTEREST RATES ON SAVINGS AND CDS
Earn a sweet interest rate on your savings or CD, regardless of your balance. How cool is that?
#### WELCOME BONUSES AND SPECIAL DEALS
Think of it as a little “thank you” from Capital One for choosing them! End up with surprising sign-up bonuses, if you’re the lucky sort.
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CONS EXPLAINED
Yeah, yeah, we know you’ve been waiting to hear the dirt on Capital One 360. Find out why it’s not all rainbows and butterflies.
#### LIMITED ACCOUNT SELECTION
When it comes to choice, you’re stuck with either 360 Checking, 360 Savings, and 360 CDs unless you’re already a friend of Capital One. Still deciding? Then I’m afraid money market accounts will have to remain a dream for you.
#### RESTRICTED CASH DEPOSIT METHODS
Planning to deposit cash but no branches nearby? Better wear your running shoes and sprint to the nearest Capital One-branded ATM or CVS location, because that’s the only option for you!
#### NO REFUNDS ON OUT-OF-NETWORK ATM FEES
Wish Capital One could take care of those annoying ATM fees from other banks? Well, I’ve got some bad news for you, bud!
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CAPITAL ONE 360 REVIEW
Alright, enough with the nitpicking, let’s dive into what Capital One has up its sleeve for you, dear reader.
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CAPITAL ONE 360 CHECKING
With Capital One 360 Checking, you can make your money work for you, no matter your balance. Overdraft fee? What’s that? Never heard of it here!
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CAPITAL ONE 360 PERFORMANCE SAVINGS
Enjoy a cool interest rate with no maintenance charges whatsoever, regardless of your balance. Interest is credited monthly. Ca-ching!
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CAPITAL ONE 360 CDS
With 360 CDs, Capital One has high-flying rates for terms ranging from half a year to a whole five years. Go for it!
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ACCESSIBILITY
Even if you’ve got no branch near you, ease and security won’t be an issue with Capital One. This baby comes with face and fingerprint recognition as well as two-factor authentication (2FA) on their mobile app.
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CAPITAL ONE 360: THINGS TO CONSIDER
Before you tie the knot with Capital One 360, consider these:
- Be ready to run to a branded ATM or CVS store if you’re a cash depositor.
- Since there’s no ATM card with 360 Performance Savings, you need to have a linked checking account or a nearby branch for easy withdrawals.
- Do prepare to say goodbye to refunds for your out-of-network ATM charges.
- You’re out of luck if you’re seeking a variety of accounts.
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IS CAPITAL ONE 360 RIGHT FOR YOU?
So, lovebirds, is it time to say ‘I do’ to Capital One 360? If you’re all for online banking and sick of hidden fees, then Capital One 360 may just be the one for you.
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CAPITAL ONE 360 BANK FAQ
Got questions? We’ve got answers!
Is Capital One 360 Bank Safe? As safe as houses, my friend! All your moolah and info are well guarded by Capital One.
Is Capital One 360 a Legitimate Bank Account? Valid question my dear reader. Yes, it is as real as it gets!
Are There Hidden Fees with Capital One 360? Let’s set the record straight – no hidden charges are lurking around. All fees regarding services like cashier’s checks or wire transfers are clearly stated.
Can You Deposit Cash into a Capital One 360 Account? Absolutely, no worries, pal! But remember to find either a Capital One-branded ATM or CVS store for that, okay?
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HOW WE ASSESSED CAPITAL ONE 360
We’ve rolled up our sleeves and dug deep into:
- Fees
- Minimum balance requirements
- Special offers and bonuses
- Accessibility of services
- Security features
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SUMMARY OF MONEY’S CAPITAL ONE 360 REVIEW
Phew! That was intense. So can we crown Capital One 360 as a gem in the banking realm? It might not be a one-size-fits-all solution for everyone, but it sure packs a punch with competitive rates, no hidden fees or minimum balances, and a top-notch mobile app. So how about giving it a spin, eh?