5 minutes to open an account
Capital One provides customers with account tools through their mobile to help make banking easier. It’s all up to you where, when, and how you want to do banking. Capital One specializes in savings and checking accounts, investment products, car loans, and credit cards. Established in 1988 as a traditional brick-and-mortar bank, Capital One’s banking services are now available for online access. There are also financial tools for customers to keep track of savings goals and monitor credit scores.
How is Capital One Better than Other Traditional Banks?
Capital One is your traditional bank that has added an online platform for its members. You get access to the benefits of a physical and online bank. With Capital One online banking, you can open an account from your phone or laptop and manage your accounts anywhere you go. You can transfer money, deposit checks, view account statements, or pay bills online as well. With mobile alerts, you will get a notification for suspicious activities detected in your account.
Banking Services Offered by Capital One
Capital One is one of the biggest banks in the US and offers similar features that Silicon-Valley based digital banks are offering. Customers can do almost everything online with features such as:
• Mobile check deposit: Deposit funds with just a few taps and get a notification when your account receives the funds.
• Pay Bills: Find your merchant, save your account details, and schedule when you want to settle your monthly bill.
• Digital fund transfer: Send money securely to other bank accounts through Capital One Zelle.
• Mobile pay: Out of cash? Pay at the cashier for retailers that accept Google Pay, Apple Pay, or Samsung Pay.
• Direct Deposit: Request for your monthly payments to be sent directly to your Capital One savings account.
• CreditWise: Track your credit score for free even if you do not have an account with Capital One.
• MySavings Goals: Set your savings goals and monitor how much progress you are making
• Eno Assistant: Eno monitors your account charges, sends notifications for suspicious activity, and provides insights into your transaction history. For instance, your monthly bill for merchant A might be higher than your average bill.
• Alexa: Use Alexa-enabled devices such as the Echo Show to manage your accounts at Capital One.
A huge advantage of a traditional bank with an online banking arm is that you also get access to regular banking services from brick-and-mortar operations. You get checking accounts with zero fees, savings accounts, CDs and IRA CDs, credit cards for rewards and for business, auto financing, business financing, and access to over 39,000 Capital One and AllPoint ATMs.
How Much Does Banking with Capital One Cost?
Customers can choose between two types of checking accounts. For adults, there is 360 Checking. For teens, they offer Money accounts. Money and 360 Checking have no minimum balance requirements, and no monthly fees, and give customers access to a host of mobile banking features.
Savings accounts, certificates of deposit, and IRAs have different minimum balance requirements and APYs. For savings products, there are no monthly account fees. Except for 360 Markey Money, there is no minimum balance required for other savings products.
Accessibility and Security
Capital One’s mobile app offers similar features that you would find from native online banks with the addition of some exclusive features. The app is especially helpful in keeping your credit card secured. You can lock your card if you lose it or gets stolen. You can also enable notifications for purchases on your Capital One credit card.
With the mobile app, it’s easy to pay recurring and one-time bills. Transferring funds to another bank account are done with Zelle. If you need to deposit a check, you don’t have to go to a physical location. All you need to do is snap a photo of your check and wait for your account balance to refresh.
Capital One is among the 10 biggest banks in the United States based on total assets so it’s important that the group is highly committed to protecting customers. All depositors are insured by the FDIC for up to $250,000. With the move to digital banking, online data is encrypted using 128-bit SSL. Only Capital One has access to sensitive information. Mobile accounts can be accessed with a password or through SureSwipe using a unique swipe pattern. The bank has a dedicated team for fraud investigation which you can call at 800-CAPITAL if you have concerns regarding your account.
Customer Support
Customer support is available by phone or through a physical branch. You can call 800-655-2265 for retail banking concerns. The line is available from 8 AM to 11 PM ET every day. Automated services are available round the clock. Capital One’s Twitter account is also quite responsive to customer concerns. You can visit the Support section to find answers to more common questions and concerns.
Bottomline
Huge traditional banks in the US took quite a while to set up an online banking arm. But Capital One’s mobile and online banking platforms give customers access to the same savings and checking products that they would get at a physical location. Everything with the convenience of banking on the go. Capital One is proving to be a strong option in the online banking market offering competitive rates for savings products, low banking fees, and a wide range of services. For anyone who wants to manage a checking and savings account in one bank, Capital One is a good option to look into.