Capital One Has Been Great So Far

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;

http://www.depositaccounts.com/bl...rantee.htm

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.

D