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If you are happy not going into a banking branch to talk to someone, make deposits, or do any other banking, this should be fine for you. Who is Capital One 360 saving account for? Anyone who wants to do their banking onlineĬapital One 360 caters to those who don’t mind doing all of their banking online. I’ve rarely needed it, but contacting a live Capital One 360 customer service rep has always been a fast and pleasant experience, too. For instance, Capital One 360 is open from 8:00 AM to 8:00 PM by phone, which is way better than most traditional banks.Ĭapital One 360 offers some of the most convenient and friendly banking I’ve experienced via Web and mobile app. Many have extended customer service hours though. Most online banks offer customer service by phone or email since that’s the only way you reach them. I can also quickly go into my credit card account if I need to, jumping seamlessly from my savings account. Making payments is easy, and it gives me a quick snapshot of my balance.
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You can also open a linked free, interest-bearing Capital One 360 checking account that includes mobile check deposit, a debit card and thousands of free ATMs nationwide. Easily link to a checking account and credit cards There are no fees for having multiple accounts, and it just makes it easy (and fun) to have everything in one place. You can open up to 25 individual savings accounts and automate your savings, helping you define and track financial goals. One feature I love is the ability to set up multiple accounts on the fly-perfect for compartmentalizing your savings for different goals (e.g., your vacation fund, emergency fund, and new house fund). It’s equally fast to withdraw your savings when you need it. With Capital One 360, setting up automatic savings deposits from your existing bank accounts is foolproof. To deposit a check with Capital One 360, for example, you just take out your phone and snap a picture of both sides to deposit the money. The only other significant difference is with physical checks.
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With Capital One 360, you’ll access your account through their website or an app on your smartphone. The only real difference is how you access your account and your money. They also offer all the same mortgage and loan products as other banks do. You can set up direct deposits for your paycheck or direct debit to pay your bills. For most of us, it’s probably been a long time.Ĭapital One 360 functions as your traditional, brick and mortar bank does. If this idea scares you, think about the last time you actually went into a physical banking branch to deposit or withdraw money. So yes, Capital One has branches in the United States, but for the most part, you’re dealing with an online savings account here. You have your online banking, but they also have physical locations in eight states.
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The first thing you need to know is that Capital One 360 is not a physical bank (sort of).Ĭapital One is trying a mixed model. The Capital One 360 savings account is simple, secure, and friendly. Yes, as a blogger, I am an affiliate of Capital One 360, but their savings account is one of a few financial products I would enthusiastically recommend without being paid for it. About the Capital One 360 savings account In this article, I’ll do a deep-dive into the Capital One 360 savings account so you can determine if it’s right for you or not. He used this account to save for a down payment on a home, vacations and a new car.īut just because it works for David doesn’t mean it will work for everyone. Our founder, David Weliver, has been saving this way since 2006 with a Capital One 360 savings account. Set up a system to pay yourself first using automatic transfers into a savings account separate from your primary checking account. What’s the most important thing you can do today for your financial health? Applying for a Loan? Use our Loan Payoff Calculator to See How Much You Can Afford to Borrow.Auto Loan Interest Calculator: Monthly Payment & Total Cost.
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Free monthly budget spreadsheet for Excel & PDF.
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