Capital One 360 offers a comprehensive online banking solution that’s worth considering for anyone looking to build savings. When Capital One acquired ING Direct, a popular online bank, there were concerns about changes, but Capital One 360 has maintained many of the original features while adding new ones of its own.
Capital One 360, part of Capital One based in Virginia, operates solely online, branching out from its origins as a credit card issuer in 1988. It’s now one of the nation’s largest banks, offering services like 360 Checking, 360 Savings, and Kids’ Savings Accounts. These products are accessible via internet or mobile app.
360 Checking is notable for its no-fee structure and the ability to earn interest with no minimum balance. Depending on your account balance, you can earn between 0.20% to 0.85% APY, and there are convenient options for depositing money and accessing funds through a MasterCard debit card.
360 Savings offers flexibility with a variable APR, no minimum balance, and no fees. You can easily manage your savings with tools like My Savings Goals, where you can track and celebrate your progress towards financial objectives. The account also allows up to 25 separate savings accounts, each with a customizable nickname.
For children, the Kids Savings Account mirrors the features of the regular savings account, encouraging young savers with no fees and the ability to set up multiple accounts for different goals.
In addition to these core offerings, Capital One 360 provides home loans, investment accounts through ShareBuilder, retirement accounts, and business banking services. Despite being an online bank, it offers competitive interest rates backed by FDIC insurance for added security.
Overall, Capital One 360 stands out as a robust online banking choice, combining user-friendly digital tools with attractive savings options that cater to a variety of financial needs.
