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Capital One 360 Checking® Account Review: A Deep Bench of Fee-Free Perks

Review Updated
Kailey Hagen
Author: Kailey Hagen
Kailey Hagen
Kailey Hagen
Writer

Kailey Hagen has been writing about small businesses and finance for almost 10 years. Articles she's written for The Motley Fool have been syndicated to USA Today, MSN, and Yahoo! Finance. She specializes in personal and business bank accounts and software for small to medium-size businesses. She lives on what's almost a farm in northern Wisconsin with her husband and three dogs.

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Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures that our product ratings are not influenced by compensation. Terms may apply to offers listed on this page. APY = Annual Percentage Yield. APYs are subject to change at any time without notice.

The Capital One 360 Checking® Account aims to blend the best of online and brick-and-mortar banking. It has a competitive APY and few fees, but it also has plenty of branches for those who prefer more personalized support. Read our Capital One 360 Checking® Account review for a full breakdown of all it has to offer.

Ratings Methodology
Rates as of Dec 20, 2024

Capital One 360 Checking

Member FDIC.
Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
APY
0.10%
Min. To Earn APY
$0
  • Branches and Capital One Cafes in some states
  • Variety of accounts
  • Robust digital platform and app
  • Great customer service
  • Higher APY available at other financial institutions

Capital One boasts a top-rated mobile app and has over 70,000 fee-free Capital One, MoneyPass, and Allpoint ATM locations. For those looking for face-to-face interaction, Capital One has over 450 locations and 50 Capital One Cafes, where customers can bank, get a cup of coffee, and ask for advice from a certified money coach. However the APY is lower than other online banks.

Compare checking accounts

We recommend comparing checking accounts to make sure you're getting the best fit for you. Here's a list of our favorite accounts.

Account APY Promotion Next Steps
0%
Min. to earn: N/A
Earn 1% cash back on up to $3,000 in debit card purchases each month (see details when you click 'Open Account')
Open Account for Discover® Cashback Debit

On Discover Bank's Secure Website.

up to 1.10%
Min. to earn: $1
High APY when you complete 10 or more qualifying debit card purchases each month

Full Capital One 360 Checking® Account review

Top perks

Competitive APY: While the Capital One 360 Checking® account doesn't have the best checking account APY, it is much higher than most of the rates we've come across.

Fee free: It's smart to avoid checking account fees and this account helps you do so by cutting ATM and monthly maintenance fees.

No minimum balance: Capital One doesn't require its 360 Checking® Account holders to maintain a certain balance to earn interest or avoid fees. And even more unusual, it doesn't require a minimum balance to open an account either. This makes it a good fit for those who don't keep a lot of money in their checking accounts and don't want to be penalized for it.

Overdraft protections: While overdrawing your checking account is generally something you want to avoid, having the option to do so can be useful if you're in a situation where you need funds immediately. By law, overdraft protection isn’t automatic -- you must opt into it. If you do so, Capital One gives you the choice of a free transfer from your linked Capital One savings or money market account or a no-fee overdraft protection. If you choose the latter, you must promptly deposit more funds into your account or Capital One may not approve additional transactions -- and may even close your account.

Hundreds of branch locations: Capital One maintains hundreds of branches throughout the U.S., including a growing number of Capital One Cafes. You may not ever need to visit one of these locations, but if you run into questions or issues with your account and want personalized assistance, you'll be glad that you have the option.

Feature-rich mobile and online banking tools: Capital One's mobile banking app lets you do all the things you'd expect -- view transactions, deposit checks, pay bills, and manage alerts. You can also set up an automatic savings account transfer and use the My Savings Goals tool to help you achieve your financial dreams more quickly. You can even track your credit score over time.

FDIC insured: Finally, a Capital One account is covered by FDIC insurance, so in the event of a bank failure, you're covered for up to $250,000 per depositor, per institution.

KEEP READING: How to Open a Capital One Bank Account

What could be improved

No ATM fee reimbursements: While Capital One doesn't charge its own fees for using out-of-network ATMs, it also doesn't reimburse customers if they're charged fees by the ATM owner. Not all banks offer this, but it's a nice option to have if you don't live near an in-network ATM.

Capital One 360 Checking® fees

Fees Monthly Maintenance ATM Withdrawal Overdraft Stop Payment Insufficient Funds
Capital One 360 Checking® Account $0 $0 $0 $25 per item $0
Data source: Capital One.

How to access your money

Here's an overview of how you can deposit and withdraw money from your Capital One 360 Checking® Account.

Deposit options

These are your options for depositing money into your Capital One 360 Checking® Account:

  • ACH transfer
  • Wire transfer
  • Mailed check
  • Mobile-deposited check
  • Visit a Capital One branch location
  • Use a Capital One deposit-taking ATM

You can find Capital One branch locations and deposit-taking ATMs using the ATM locator tool on Capital One's website or in its mobile app.

Withdrawal options

You can withdraw your funds from your Capital One 360 Checking® Account in any of these ways:

  • ACH transfer
  • Wire transfer
  • Request a mailed check
  • ATM withdrawal
  • Point-of-sale cash withdrawal
  • Visit a Capital One branch location

Electronic transfers and mailed checks may take a few days to get to you, so plan accordingly and initiate the withdrawal before you need the funds.

The Capital One 360 Checking® Account is right for you if:

The Capital One 360 Checking® Account is a smart choice for those who want the strong mobile tools and high interest rates commonly found with online banks without sacrificing the option to visit branch locations for in-person support. This account is also a good fit for those with low average checking account balances who may be in danger of overdrawing their accounts.

Read more about Capital One:

Our checking account methodology

At Motley Fool Money, we rate checking accounts on a five-star scale (1 = poor, 5 = best). We evaluate all checking accounts across four main criteria: brand and reputation, APY and rewards, fees and minimum requirements, and perks.

Our scores are weighted as:

  • Brand and reputation: 40%
  • APY and rewards: 30%
  • Fees and minimums: 15%
  • Other perks: 15%

Learn more about how Motley Fool Money rates bank accounts.

FAQs

  • There is no minimum balance for the Capital One 360 Checking® account.

  • There are no ATM withdrawal fees.

  • Capital One 360 Checking®'s APY is 0.10%.