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Capital One 360 Review [2025]: It Checks Nearly All the Boxes

Capital One 360, a hybrid bank with some in-person branches and a vast suite of online banking products, offers lots of perks and none of the fees you often see at larger banks. This Capital One 360 review covers who the bank is best for and who should choose another company.

Updated Aug. 4, 2025
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Capital One

Capital One

OUR VIEW

Capital One is an excellent option if you're looking for a one-stop banking shop, offering a suite of loans, credit cards, and bank accounts. Many of these accounts check all of the boxes I look for when evaluating online banks, as they offer solid features and no fees, even if you overdraw your checking account. I also place a lot of value on the positive customer reviews and highly rated mobile app. Capital One 360 offers kids' banking accounts, including both checking and savings, that stand out as some of the best choices available, too.

That said, Capital One may not be the best choice for everyone. For example, if you prefer to do most of your banking in-person or if you are looking for the absolute highest interest rates you can find, there may be better alternatives for you.

Pros

Full-service banking with no monthly fees or overdraft charges
High ratings for its mobile app and customer satisfaction
Over 70,000 fee-free ATMs
Permits fee-free cash deposits at Walgreens or CVS

Cons

Can be difficult to deposit cash
Low APYs for checking and savings accounts
Limited in-person branch availability
How we evaluate products

How we evaluate products

Capital One 360 overview

For a relatively new bank, Capital One has grown rapidly. It launched in 1994, and the original founder Richard Fairbank still serves as chairman and CEO of the company, which is based out of McLean, Virginia. Today, it is one of the top 10 biggest banks in the country, with around 280 in-person branches.

Capital One bank has a unique setup for its in-person branches. There are traditional bank branches that look like the ones you expect at other banks. But the company also offers over 60 "Capital One cafés" sprinkled throughout the country, blurring the lines between a hip hangout spot and a retail bank to create a more comfortable atmosphere. Most of its business, however, is online.

Who is Capital One 360 best for?

Capital One 360 could be the best bank for you if: 

  • You primarily like to bank online or with a mobile app.
  • You want to open multiple types of accounts.
  • You want to be able to deposit cash.
  • You want to open bank accounts for kids or teens.

If you prefer handling most or all of your banking digitally and you're looking for a good all-around banking solution with one financial institution, you're not likely to be disappointed with Capital One. Its lack of fees and helpful account features combine with a well-designed mobile app to deliver an above-average online banking experience, and that's been our experience with the bank, too.

Capital One offers more support for cash deposits than most other online banks. You can add cash to your account via one of the bank's branches or deposit cash fee-free at Walgreens and CVS locations. Many other online banks don't allow cash deposits at all, in any form.

Read more: Best Online Banking Services That Accept Cash Deposits

What we like about Capital One

  • No monthly fees: Most large banks charge monthly fees with options to have those fees waived if you have direct deposit or maintain a certain account balance. But with Capital One, you won't have to worry about tracking and meeting those requirements each month. To me, this is a big perk, as it provides a simple, stress-free experience managing your money.
  • No overdraft fees: Another stress-free perk that Capital One pioneered is waiving all overdraft fees. When you sign up, you can opt to have overdrafts declined, set up free transfers from your savings account, or have Capital One cover the charge at its discretion, to be repaid from your next deposit. This is another benefit that allows you to simplify your money management.
  • High interest rates: Online banks are known to offer higher interest rates, and Capital One's high-yield savings account is no exception. And while you could probably find a slightly higher rate elsewhere, to me, the other benefits associated with the savings account make the rates competitive enough to still be very attractive.
  • High customer satisfaction ratings: Capital One gets consistently high ratings for its mobile app and for overall customer satisfaction on national J.D. Power surveys. This is something I always look for when evaluating any bank or product. You never know when you will need to reach out for support, and it's comforting to me to know that customer service is responsive and helpful.
  • Great suite of credit cards: This Capital One 360 review focuses on banking, but should you need other financial products such as a loan or credit card, Capital One also offers some popular credit cards. Learn more about Capital One credit cards.

What Capital One could improve

  • Rates for kids' savings accounts: Capital One's kids savings account offers a rate significantly lower than its standard account. While this is somewhat common among kids savings accounts, you could definitely find higher rates at competitors.
  • In-person support: Sometimes you need to deal with things in person. For example, you might need to get a form notarized or deposit cash. It's hard to do that with any online bank, and Capital One is no different. However, to be fair, if it operated a large number of physical branches, it probably wouldn't have as many benefits as it does now.

Capital One 360 checking accounts

Capital One 360 offers two types of checking accounts: everyday checking accounts, or 360 Checking, and checking accounts for teens, or MONEY Teen Checking.

360 Checking

Annual percentage yield (APY) 0.10% (as of 04/28/25)
Minimum deposit requirement $0
Monthly maintenance fees $0
ATM access 70,000+ free ATMs
FDIC insured Yes

As long as you don't mind banking online, Capital One 360 Checking is one of the best checking account you can find. One of the benefits that stands out to me the most is the fact that Capital One has flipped the traditional banking model around. Most large banks charge you lots of fees with checking accounts and offer zero interest, but Capital One does the opposite — it charges no monthly maintenance fees and no overdraft fees, yet you'll earn interest (albeit at a small rate) on all of the money in your account.

Account holders can access their funds at more than 70,000 fee-free ATMs in the MoneyPass and Allpoint network as well as Capital One-branded ATMs. Capital One also offers mobile check deposit, bill pay, and the ability to send funds with Zelle.

Like most online banks, making cash deposits is a bit trickier. However, it is still possible, which is a huge perk. Capital One has partnered up with CVS so you can deposit cash into your account at any CVS location. There are over 9,000 locations nationwide, so it's quite accessible, but you'll want to check to see if there's a location near you first if depositing cash is something you'll need to do frequently.

Visit Capital One 360 Checking

4.9
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2025 award winner Best Overall Checking Account

CapitalOne 360 Checking Benefits
  • Earn a $250 bonus by opening a 360 Checking
  • No fees, no minimums
  • Terms Apply1
Open Account

MONEY Teen Checking

Annual percentage yield (APY) 0.10% (as of 05/02/25)
Minimum deposit requirement $0
Monthly maintenance fees $0
ATM access Yes
FDIC insured Yes
Minimum age Eight years old

Although this account is branded as for teens, any child as young as eight is eligible to open an account and start learning how to manage a checking account, complete with a debit card. Note that this account doesn't allow them to write checks, although that may or may not be important to you.

This account, which offers one of the best debit cards for kids/teens, works as a joint account with an adult. For children between the ages of eight and 12, that adult must be their parent or guardian. Once they do become a teen, though, any adult can serve as the joint adult on the account. Adults have a separate account login to monitor their child's spending and set up transfers, such as one-time rewards or automatic transfers for an allowance.

Capital One 360 savings accounts

360 Performance Savings

Annual percentage yield (APY) 3.50% (as of 06/26/25)2
Minimum deposit requirement $0
Monthly maintenance fees $0
ATM access No
FDIC insured Yes

The Capital One 360 Performance Savings account is exactly what I typically look for in an online savings account — simple and rewarding.

The account itself offers a competitive interest rate compared to most online banks, which is far more than the savings rates you'll earn at most brick-and-mortar banks. It's also much higher than the national average. (Even so, it is still possible to find higher rates than Capital One's.)

Tip
One thing to keep in mind is that you can't withdraw money from your savings account at an ATM. You can only do it via online transfers or at a Capital One branch location. If you need cash from your savings account and you're not near a branch, you'll first need to transfer it to your checking account, which does allow for ATM withdrawals.

360 CDs

Annual percentage yield (APY) 3.50%-4.00% (as of 07/07/25)
Minimum deposit requirement $0
Monthly maintenance fees $0
ATM access No
FDIC insured Yes

You'll find similarly high rates for Capital One's 360 certificates of deposit (CDs) with term lengths ranging from six months to five years. One thing I especially like is that there are no minimum deposit requirements. Unlike most banks, which require a minimum balance of several hundred (or thousand) dollars, Capital One's CDs are accessible to anyone.

Once you open a CD, though, it's best not to withdraw the money until it matures. If you withdraw funds from your CD early, you'll need to withdraw the entire CD balance (no partial withdrawals are allowed), and your penalty will be three months' worth of interest (for term lengths under a year) or six months' worth of interest (for term lengths over a year).

If you leave it in the account until it matures, though, it'll automatically renew for another term at whatever rate is currently being offered. But you do have a 10-day grace period to withdraw the cash if you want.

Kids Savings

Annual percentage yield (APY) 2.50%
Minimum deposit requirement $0
Monthly maintenance fees $0
ATM access No
FDIC insured Yes
Minimum age None; joint owner required if child is under 12

Kids of any age are eligible for the Kids Savings account if they have an adult who can serve as a joint account owner.  This is one of the best savings accounts for kids that we've found, offering a competitive rate without restrictions that are common with kids' bank accounts.

Just like with the teen checking account, though, only parents or guardians can serve as joint owners until they're past age 12. Adult joint owners can also log into the account with separate logins to control and view their child's account.

Alternatives to consider

Although this is a strong savings account, we recommend checking out UFB Portfolio Savings if you're looking for a savings account with ATM access or American Express® High Yield Savings if you're an Amex cardholder.

4.8
info
UFB Portfolio Savings - 4.01% APY3
High Yield Savings Account. No Minimum Balance. FDIC Insured.
Learn More
5.0
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2025 award winner Best for Customer Service

American Express® Savings - 3.50% annual percentage yield (APY)4
High Yield Savings Account. No Minimum Required Deposit or Balance.5 Terms Apply.
Learn More

Alternatives to Capital One 360

There are many online banks to choose from these days. It's a good idea to review some of Capital One's top competitors before you open an account.

Ally Bank

Ally Bank is similar to Capital One 360 in many ways, including the accounts it offers and many of the features that might make it appealing if you value digital-forward, full-service banking. Like Capital One 360, Ally offers checking, savings, credit cards, loans, and much more. But if you're focused on banking, Ally edges out Capital One with its high-yield savings account. Although rates are similar between these two banks, with Ally's savings account earning 3.50% APY6 to Capital One's 3.50% APY on 360 Performance Savings, Ally offers more savings features to help you grow your cash. This includes round-up debit card transfers, savings boosters, and the ability to bucket funds for different purposes. Ally's CD rates also tend to be more competitive.

The Ally Spending account and Capital One 360 Checking account are tied, in our eyes. They both earn negligible interest and have most of the same features. With that said, Capital One is the way to go if you need kids' bank accounts, as Ally doesn't provide these.

Read our full Ally Bank review or read our Capital One vs. Ally Bank comparison

SoFi®

SoFi Checking and Savings is a better choice than Capital One 360 if you're looking to earn a higher rate — currently 0.50% (as of 01/24/25) APY with direct deposit on checking account deposits and up to 3.80% APY with direct deposit on savings account deposits.7 Although this rate is comparable to Capital One's rate on savings, you can earn more on your checking balance with SoFi.

You can deposit cash at any GreenDot location. Like Ally, SoFi® doesn't offer kid's accounts. SoFi is a Member, FDIC.8

Visit SoFi Checking and Savings or read our full SoFi checking and savings review.

Featured Checking Accounts

5.0
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2025 award winner Best Checking and Savings Combo

SoFi Checking & Savings - Earn Up to $300 When You Set Up Direct Deposit
Limited-Time Offer: Earn up to a $300 bonus and up to 4.00% APY on Savings (3.80% APY9with +0.20% APY Boost) for 6 Months on new accounts with direct deposit. Terms Apply.10 FDIC Insured.8
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4.9
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2025 award winner Best Overall Checking Account

CapitalOne 360 Checking — Earn a $250 bonus
Earn a $250 bonus with 360 Checking. No fees, no minimums. Terms Apply.1
Open Account

FAQs

Is Capital One 360 worth it?

If you're looking for a customer-friendly online account that offers high rates with few or no fees, then Capital One 360 is definitely worth it. If you're looking for the absolute highest rates possible or if you use cash a lot, then you might be better off with another bank.

Does Capital One 360 offer overdraft protection?

Yes, Capital One offers overdraft protection, and it doesn't charge any overdraft fees for this privilege. Instead, Capital One may decline or approve overdraft charges as it sees fit, and you'll be required to deposit additional funds to cover the overdraft amount "promptly."

Does Capital One 360 offer a debit card?

Yes, you can get a debit card for some of its accounts. You won't get a debit card with any of the savings accounts, although you can use them with Capital One 360's checking accounts.

Bottom line

If you're looking for a stress-free banking experience without sacrificing quality, Capital One is a great choice, especially for its checking account. It has a wide range of products that can help you reach your personal finance goals.

If you use cash a lot, pull money from ATMs frequently, or prefer to earn top-level rates, you might be better off with a different bank. Check out our list of the best banks for more options.

5.0
info
Financebuzz awards badge

2025 award winner Best Checking and Savings Combo

SoFi Checking and Savings Benefits
  • Limited-Time Offer: Earn up to a $300 bonus and up to 4.00% APY on Savings (3.80% APY9with +0.20% APY Boost) for 6 Months on new accounts with direct deposit. Terms Apply.10
  • No account, overdraft, or monthly fees11
  • Get your paycheck up to two days early12
  • Access additional FDIC insurance up to $3 million8
Open an account with SoFi® here

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