Capital One Bank is headquartered in Mclean and is the largest bank in the state of Virginia. It is also the 8th largest bank in the nation. It was established in 1933 and as of March of 2016, it had grown to 29,311 employees at 826 locations. Capital One Bank's savings rates are 54% higher than the national average, and it has an A health rating.
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.
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.
From my experience with Capital One, I'm quite satisfied with what I've seen so far. The mobile app works really well on my iPhone and allows me to use touch ID to log-in securely which is a big plus to using a cumbersome password. In terms of customer service, they've gone above and beyond whenever I've had issues. One time I had an error with the mobile app, so I made a call to customer service, and they helped me through every step and acted much more friendly than I usually expect from customer service, in general. I am satisfied with the design of the website, and it shows me all information I care about like my current balance, links to transfer money, and other features.
I started an account with Capital One 360 solely as a place to set funds which I would not touch. Kind of like a savings account, but one that also had it's own debit card! The process to set the account up was flawless and very easy. Maintaining my account is also very easy. I have since opened 2 credit cards, a savings account, and an investment account with them and have yet to be disappointed.
I had card fraud in the first three weeks and I was out of town for my Father-in-laws funeral. After the service we were on our way to the burial and stopped to get gas. My card was declined and I called Capital One which put a hold on my card for unusual card usage. I had no cash and a limited amount of time to get to the burial in another town hours away. After being on the phone for 45 minutes and hearing how they should have called me but didn't, I was able to get a one time ATM withdrawal and head to the burial. We lost too much time and did not arrive until the service was over and my wife was devastated. Capital One unlike most banks, does not identify their card transactions with an ID until after the transaction has been processed. We were out of town and my mobile banking had many transactions but all of them were labeled pending transaction not Sears, WalMart or Texaco. When I called and asked why every transaction was not immediately identified they said if I call them they can tell me what each one is but I won't know until they finish processing which could take up to three days. WOW! NOBODY DOES THIS. This way of doing business makes it easier to fraud a customer of Capital One because every transaction is anonymous until processed. I would have to carry a paper register around with me and update it constantly like writing checks or a transaction may not get caught for several days. Even the fraud group told me I needed to wait for the fraud transactions to finish processing before they could do anything and again I say WOW. The employees at every level of Capital One could not explain to me why their software does not ID transactions instantly like all other banks have been doing for forever. I had to call Shylundrya (201) 421-3925 at the executive level of Capital One Corporate to finally get ANY kind of resolution to the fraud and get some money back in my account. The lack of ID with transactions has been a major complaint by Capital One customers and they plan to fix it in a YEAR OR SO! Capital One is clueless and they need to get beyond the walls of their own castle and take note of how the competition has been doing business for decades. I believe there is too much employee referral hiring going on for that in house $1000.00 bonus instead of actual education and experience
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.
|FDIC Certificate #||4297|
|Return on Assets - YTD||0.54%|
|Return on Equity - YTD||4.08%|
|Annual Interest Income||$2.58B|
|Assets and Liabilities|
|Assets||Q1 2016vs Q1 2015||$271.2B$253.2B|
|Loans||Q1 2016vs Q1 2015||$150.8B$137.8B|
|Deposits||Q1 2016vs Q1 2015||$208.8B$198.7B|
|Equity Capital||Q1 2016vs Q1 2015||$36.00B$35.23B|
|Loan Loss Allowance||Q1 2016vs Q1 2015||$2.03B$1.66B|
|Unbacked Noncurrent Loans||Q1 2016vs Q1 2015||$2.23B$1.67B|
|Real Estate Owned||Q1 2016vs Q1 2015||$110.7MM$133.8MM|
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
The rates for some products vary by region. In these cases we have listed the rates for the region closest to the bank's headquarters.
|APY||MIN||MAX||ACCOUNT NAME||VIEW DETAILS|
|0.80%*||$10k*||$1m||Essential Savings (first 6 months)|
|OTHER TIERS: 0.10% → Up to $10k | 0.50% → $1mm+|
|0.65%*||$10k*||$1m||Essential Savings (after the first 6 months)|
|OTHER TIERS: 0.10% → Up to $10k | 0.50% → $1mm+|
|APY||MIN||MAX||ACCOUNT NAME||VIEW DETAILS|
|0.40%||-||-||High Yield Checking (first 12 months)|
|0.20%||-||-||High Yield Checking (after the first 12 months)|