Capital One Bank is headquartered in Mclean and is the largest bank in the state of Virginia. It is also the 9th largest bank in the nation. It was established in 1933 and as of June of 2014, it had grown to 27,288 employees at 889 locations. Capital One Bank's savings rates are 44% higher than the national average, and it has a A health rating.
Sometimes your payment doesn't get there. Could be lost; could be a bill-paying-service scrëw-up; could be forgetfulness or bad software. Who knows?
But Capital One sets a new standard for stupidity by refusing to inform customers if the due date comes and goes, and they haven't gotten your payment. It is essentially FREE to send an E-mail. They pester customers with marketing E-mails all the time. But they refuse to inform customers of critical problems with their accounts. Instead, they'll wait two and a half weeks and then just cancel the card without any attempt to notify the customer.
The same thing goes for security breaches. If a vendor is hacked and your credit-card number is among those stolen, Capital One will not inform you. Again, not even a free-to-send E-mail. They will simply cancel your card and let you get into an embarrassing or, worse, a hugely problematic situation where your credit card is no good.
There's no excuse for this offensive disregard for the customer's security, time, and value to the company.
We made the switch last year from BOA (no interest), and took advantage of Capital One Bank's High Yield Checking Promo (guaranteed for 1yr). See Ken's lastest post;
The account has been great, and has worked well for us this past year as our main acct for bills. It has paid 1% for almost the entire year (one dip over the summer). Free checks and free online transfers (3 days).
Opened at the near by local branch. No problems at all. Also opened a High Yield Costco/CapOne MM acct online, paying .70% (no longer available). No problems there also.
Branch CSR's are all very helpful and friendly. Talking to one of the CSR's the other day, they said that after our promo 1% interest ends next month, the rate will drop to .20 to .25%. Also told me that if we wanted to continue to get 1% interest on our checking, we could close down our current account and open a new one, for another year of 1%. That is how they can 'fool' the system for a 'new money' account. I don't think we'll do that though, because I don't feel like closing, opening, then closing again an account within a year. Not worth it. If we wanted to, we could also convert the account to one of the rewards acct's, but don't think we will do that either. >>>The CSR did imply that the High Yield Checking Promotion may be ending soon. <<<
Opened a Ally checking and savings acct to replace as our main accounts for now, but will keep the CapOne MM open for cash deposits convenience plus we have SD Box there. Just can't give up a brick & motar. The Costco .70% rate will end Dec. 31st and will dip to .60 to .65% the CSR said.
Over all though, positive experience with Capital One. Curious about what they will offer in the future for direct banking (ING). Guess will find out next year sometime.
I have been with Capital One for almost 10 years. I opened my first checking account with them when I was 16, when they first started doing banking services aside from credit cards. Now, this was back when they had free checking, and to my knowledge, they no longer do, unless you do their 360 online banking, which I have never tried. The only "issues" I have had, were related to my own financial irresponsibility, and customer service has always been very helpful and responsive. Even now, as I'm on hold with customer service (I accidentally over-paid my credit card so I'm having them credit back my checking account), I am impressed with the whole system. When you call, you get the automated system, however, it is extremely user-friendly and all I had to do was type in my card number and verify last 4 of social, say "customer service" and was immediately transferred to a person. This gentleman was upbeat and polite and seemed to have a sense of urgency about my situation, which I certainly appreciated. Without even asking, he got the supervisor to assist in getting my issue taken care of, and when it was necessary to be on hold, they both made sure to check in every minute or so to apologize for the hold, let me know what they were doing and thanked me for my business. Instead of transferring me or giving me a number to call, they dialed the number for me, brought the other person up-to-speed, and then helped make my transistion seamless. I work in a customer service industry, and this kind of service is rare. Thank you Capital One Bank! You have a loyal customer for life.
As a side note- I did leave once to go to Wells Fargo. I was drawn in by some of their "cool" online banking features but quickly learned the hard way that the level of customer service was not on par with what I was accustomed to with Capital One. Capital One may not have all the graphs and online budget charts that other banks have, but their attention to detail in other areas is what makes them excel. I highly recommend this bank. I have one checking account, an online savings account and two credit cards with Capital One.
Their rewards program is also top notch. I have rewards on my checking and credit card and they make it simple to transfer rewards to and from my accounts. There is no cap on how many I can earn so I just let it sit for a few years and ended up getting a $200 Bass Pro gift card with about 5,000 points left over. You can also use your rewards to pay towards your credit card balance.
The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of June 30, 2014 Capital One Bank had $2.08 billion in non-current loans and owned real-estate with $36.06 billion in equity and loan loss allowances on hand to cover it. This gives Capital One Bank a Texas Ratio of 5.76% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Capital One Bank decreased slightly from 6.76% as of June 30, 2013 to 5.76% as of June 30, 2014, resulting in a positive change of 14.90%.This indicates that the balance sheet and financial strength for Capital One Bank has improved slightly in recent periods.
In the past year, Capital One Bank has increased its total deposits by $2.95 billion, resulting in 1.56% 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 Bank has shown is above 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 Bank has $239.59 billion in assets with $36.06 billion in equity, resulting in a capitalization level of 15.05%, which is excellent.
|FDIC Certificate #||4297|
|Assets and Liabilities|
|Equity Capital||$34.48 billion|
|Loan Loss Allowance||$1.58 billion|
|Unbacked Noncurrent Loans||$1.96 billion|
|Real Estate Owned||$116.48 million|
|Historic Data - June 2013|
|Equity Capital||$34.04 billion|
|Loan Loss Allowance||$1.61 billion|
|Unbacked Noncurrent Loans||$1.96 billion|
|Real Estate Owned||$162.92 million|
|Profit Margin - Quarterly|
|Return on Assets||0.7%|
|Return on Equity||4.87%|
|Interest Income||$4.68 billion|
Always verify rates and promotions with the bank or credit union. We are not Capital One Bank, we are a rate comparison website and can not provide official rates or promotions.
|0.75%||-||$500k||Business Advantage Savings|
|0.20%||$25k||-||Small Business Clear Advantage Money Market|
|0.40%||-||-||High Yield Checking|
|0.20%||$250||$100k||Spark Business Interest Checking|
|0.60%||$1k||-||5 Year CD|
|0.45%||$1k||-||4 Year CD|
|0.35%||$1k||-||3 Year CD|
|0.20%||$1k||-||18 Month CD|
|0.20%||$1k||-||2 Year CD|
|0.15%||$1k||-||1 Year CD|
|0.10%||$1k||-||6 Month CD|