Capital One 360 is an online banking subsidiary of the Capital One Financial Corporation, a financial holding company publicly traded on the New York Stock Exchange (Symbol: COF). The web-only bank officially took over ING Direct in 2012 and offers an array of depository banking and lending products, in addition to its brokerage platform. The Capital One 360 branding was first introduced at the end of 2012.
In its depository banking repertoire, the direct bank has personal checking, savings, and Certificate of Deposit (CD) accounts, as well as business savings and CD accounts. On the personal side, Capital One 360 offers a fee free checking account that is part of an extensive ATM network and comes with a free MasterCard debit card. The teen checking account is basically the same account, but adds a joint owner. Both accounts are attractive because they earn interest and make the switch from brick and mortar bank checking to Internet checking very smooth with mobile deposits and widely accessible ATMs. The online savings account offers one of the top interest rates in the country and has no fees and an automatic savings plan option to encourage the process. CDs are offered in term lengths ranging from 6 to 60 months and come with fixed interest rates.
Capital One’s Sharebuilder provides a trading platform where customers can perform cheap stock trades or look up reports on various investments from independent analysts. On the business side, a savings account is available that offers up to 3 authorized signers who can function as account owners.
Capital One 360 online banking provides a secure and sophisticated platform for account owners to manage their deposit, loan, and business accounts with Capital One. The bank’s site is optimized for both desktop and mobile use, and enables users to complete account management items like money transfers, balance reviews, bill pay, ATM search, and transaction history viewing. Mobile apps are attractive and make it easy to bank while on the run from a smartphone or tablet device.
Capital One 360 is the product of Capital One Financial Corporation’s 2012 acquisition of ING Direct, which was created in 2000. Capital One’s business model focused on consumer lending before 2005, until it decided to branch out into the retail banking business. Its acquisition of ING Direct considerably helped those efforts, making it one of the biggest online banks in the country. Capital One 360 is currently headquartered in McLean, Virginia, and serves its customers exclusively through its online banking platform.
I used the link below
Refer a Friend - Capital One 360 (This link)
and it was great!! I signed up for both a checking and savings account. My savings bonus was deposited almost instantly after they confirmed my $250 opening deposit. After i received my check card in the mail I made 3 small purchases. ($1.00 sodas). the next day I awoke to an email saying I have met all requirments for the bonus and it would deposit on such and such date. That date hasn't passed yet but I know I will receive the bonus.
VERY EASY $75! I plan to close my account after I get all of the bonus money but I have no complaints with them so far. I may decide to keep it.
Their site feels very secure and I contacted their customer service department to inquire about closing my account after the bonus. They said they would hate to see me go however once the bonus is paid I am free to leave. Very friendly and helpful.
Thanks to the poster below for sharing this link. It was a great help for a bargain hunter like myself.
This bank really takes security into great detail. They have great deals, and very low fees. They do not charge an overdraft fee, just a very very small amount of interest if you do overdraft.
For a $50 bonus! (Checking) or $25 for Savings click here!
I was able to open a checking account with no Min. (I did deposit $5.00 into the account just to link my regular banking account). I also opened a no fee savings account! Again no Min. (I put $1.00 in)
The biggest downside to cap 1 360 is their lack of free checks. Most banks offer free checks now but this isn't a big deal for myself.
I have been a member for a while!! No problems yet! I closed my Ally account because I like the features of this account better.
Last, if you have children you can make them a kids account and they have their own sign in information if you would like! Great feature!
I opened this savings account because my Big Bank savings account pays essentially no interest these days. At 0.75% currently Cap One 360 is still very little, but still something more. I also really like the possibility of opening sub-savings accounts: this allows you to save for individual things (vacation, house down payment, medical expenses etc) instead of just clumping everything together in "Savings"
Easy to set up. I did it on my lunch break. No papers, no waiting. Everything online and easy. No need to mail checks. Funding is done by ETF (electronic transfer - not wire transfer so no fee).
Easy to use web site.
Yes I know it takes about 3 days to get money out, but for me the entire point of a savings account is to give myself a time delay to get my money so I don't spend it on silly things.
Got a free $25 bonus just for signing up. In this low interest rate environment, that would have been like 2 years worth of interest. Not a lot, but still free money. I had to sign up through a link generated by someone who already has a Capital One 360 savings account (be referred). Here's a link I generated. If you to go the capital one website through that link you get started with a free $50 for a checking and free $25 for a savings account
The only drawback is their mobile app - I don't really like it. But since I only use their savings account, I don't really need to use it anyway.
This bank will not stand up for its customers against fraudulent use of a card. A purchase I did not make ended up on my account and they refused to take it off my account. Then trying to close my account out took over 2 weeks to accomplish.
Online banks sound great, but when you have no physical branch to do certain crucial activities (such as closing out the account easily), they can become a nightmare.
DO NOT patronize this bank!
It has taken me three days to finally decide to close the account I've been trying to set up with them. Faxed articles of incorporation, current bank stmt, voided check, took forever to register on their site, had to provide personal information only to learn my bank's statement wasn't good enough because it didn't have the routing number printed on it. Told me to refax and write the routing number on it myself.
After going round and round with a CSR I finally decided I would just close out the account. A measely .40% interest isn't worth all the grief they gave me today.
They are holding the funds they transferred from my previous bank for three weeks before they will put it back into my account citing all kinds of reasons for that kind of time as if I was the one that had the script in front of me and should have known all this. So they're getting my money for 3 wks without paying interest or doing anything but frustrating the heck out of me. Bad, bad customer service. Terrible bank to do business with.
I opened accounts at this bank when it was still ING Direct. At that time, the savings account rate was one of the best....after a while, the interest rate was competitive, but then I used it as a minimal standard. Previously, the bank only allowed 3 "linked" accounts via writing and mailing a check or a voided check.
Their CD rates are okay and are affected by the current economy. One of the most interesting things in the past (I don't know about now) is that there was no minimum amount to opening a CD.
When they offered the electric orange checking, it was very very interesting since...it was a new product; no checks; almost a pure billpay account. One nice feature about this account is the P2P (person 2 person) feature that allows a person to sorta link other checking account as outbound destinations; making Cap1-360 a hub. It's a sorta manual method of creating an ACH push, but it's not bad. However, if I knew earlier, I wouldn't waited for the promotion to open an account instead of being an early adpoter.
After the acquisition by Capital One, the rates have stayed competitive, but the main reason I'm "reviewing" is because I just noticed the first "free 50 checks" for the bill pay account. previously, it was $5 for a pad of checks. nice perk.
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 Capital One 360 had $2.22 billion in non-current loans and owned real-estate with $35.27 billion in equity and loan loss allowances on hand to cover it. This gives Capital One 360 a Texas Ratio of 6.30% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Capital One 360 experienced no significant changes from 6.33% as of December 31, 2012 to 6.30% as of December 31, 2013, resulting in a positive change of 0.49%.This indicates that the balance sheet and financial strength for Capital One 360 has had no significant changes in recent periods.
In the past year, Capital One 360 has decreased its total deposits by -$3.39 billion, resulting in -1.77% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Capital One 360 has shown is average.
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Capital One 360 has $238.48 billion in assets with $35.27 billion in equity, resulting in a capitalization level of 14.79%, which is excellent.
|FDIC Certificate #||4297|
|Assets and Liabilities|
|Equity Capital||$33.66 billion|
|Loan Loss Allowance||$1.61 billion|
|Unbacked Noncurrent Loans||$2.11 billion|
|Real Estate Owned||$112.01 million|
|Historic Data - December 2012|
|Equity Capital||$36.64 billion|
|Loan Loss Allowance||$1.99 billion|
|Unbacked Noncurrent Loans||$2.11 billion|
|Real Estate Owned||$201.50 million|
|Profit Margin - Quarterly|
|Net Interest Margin||4.32%|
|Return on Assets||0.67%|
|Return on Equity||4.67%|
|Interest Income||$10.16 billion|
Always verify rates and promotions with the bank or credit union. We are not Capital One 360, we are a rate comparison website and can not provide official rates or promotions.
|0.75%||-||-||360 Savings Account|
|0.75%||-||-||Kids Savings Account|
|0.75%||-||-||Roth IRA Savings|
|0.40%||-||-||Business Savings Account|
|0.90%||-||-||60 Month CD|
|0.90%||-||-||Business 60 Month CD|
|0.70%||-||-||30 Month CD|
|0.70%||-||-||36 Month CD|
|0.70%||-||-||48 Month CD|
|0.70%||-||-||Business 30 Month CD|
|0.70%||-||-||Business 36 Month CD|
|0.70%||-||-||Business 48 Month CD|
|0.40%||-||-||6 Month CD|
|0.40%||-||-||9 Month CD|
|0.40%||-||-||12 Month CD|
|0.40%||-||-||18 Month CD|
|0.40%||-||-||24 Month CD|
|0.40%||-||-||Business 6 Month CD|
|0.40%||-||-||Business 9 Month CD|
|0.40%||-||-||Business 12 Month CD|
|0.40%||-||-||Business 18 Month CD|
|0.40%||-||-||Business 24 Month CD|
|0.90%||-||-||60 Month IRA (Traditional,Roth)|
|0.70%||-||-||30 Month IRA (Traditional,Roth)|
|0.70%||-||-||36 Month IRA (Traditional,Roth)|
|0.70%||-||-||48 Month IRA (Traditional,Roth)|
|0.40%||-||-||6 Month IRA (Traditional,Roth)|
|0.40%||-||-||9 Month IRA (Traditional,Roth)|
|0.40%||-||-||12 Month IRA (Traditional,Roth)|
|0.40%||-||-||18 Month IRA (Traditional,Roth)|
|0.40%||-||-||24 Month IRA (Traditional,Roth)|
Capital One 360 is an Internet only bank and does not have branch locations. Its headquarters is located at 1680 Capital One Drive - Mclean, VA 22102