To take advantage to the fullest extent of the services offered by Capital One, one had better set up online access. However, to establish a member’s area, one has to be the bank’s client. A personal account allows applying for other products, such as bank accounts.
Capital One Bank offers several types of bank accounts. Basically, there are two types: savings accounts and checking accounts. However, it is essential to note that only US customers can use such products as the Capital One Canadian branch provides only credit cards.
Savings accounts
The bank allows customers to open three types of savings accounts.
360 Performance Savings. This is a standard savings account that doesn’t require any fees and is free to open. There are no minimum deposits so customers.
360 CDs. With a certificate of deposit (CD) account, customers can save money for a fixed amount of time, called a term. In addition, customers earn a fixed interest rate in return for depositing their money into the account.
Kids Savings Account. Customers can open an account for their kids. It has a lower APY and is owned by a child younger than 18 and one adult. It provides dual access.
Checking accounts
Besides savings, customers can open checking accounts represented by two variations.
360 Checking. This is a standard option for customers who want to open a checking account in Capital One Bank. They can pay their bills, get cash, make deposits, and transfer money without monthly fees and extra trips to the bank.
MONEY Teen Checking. This is an account developed for teens. It is only available online, so they can manage their finances without leaving home. It doesn’t require any fees and allows opening a free debit card.
Features
All savings accounts have different APYs. 360 Performance Savings Accounts have a fixed 1,50% APY rate, while 360 CDs have variable rates: 2,30% for the first year, 2,60% for the second year, and 3,20% for the fifth year. They do not require any minimum deposits and are free to open. However, customers with a CD account will have difficulties with an early withdrawal. If they decide to withdraw their money before the end of the term, the bank can charge some penalties, while 360 Performance Savings accounts do not impose any charges. Also, customers can quickly transfer money between their accounts without fees or penalties. Kids savings accounts have a lower APY: 0,30%, but they are still free and do not require minimum deposits. Customers can use these accounts together with their kids as it has dual access and belongs to both until kids are not older than 18 years. However, kids are still able to make deposits just like their parents. Using checking accounts, customers receive no APY as this is a type of account intended only for keeping money. These are fee-free accounts used for paying bills, getting cash, making deposits, and transferring money–all without monthly fees and extra trips to the bank. Also, there are no fees for any overdraft options customers choose, and they can access it 24/7 wherever they are with the mobile app. MONEY Teen checking accounts are developed especially for teens or kids. Therefore, this checking account is for all kids aged 8+. However, parents still have control, can stay on top of their child’s spending, and take advantage of teachable money moments. Also, after opening an account, kids can receive a free debit card to use their money and even receive interest as the APY for this type of account is 0,10%.How to open an account
Firstly, the customers need to choose the account type that suits them most. After that, they need to click on the name of that account in the “Savings and checking” section. Afterward, they must click the “Open account” button and complete the online application. Also, they can use the mobile application or just visit the bank.
One must have a member’s area to sign in to open an account online. Then, to set up the online access, enter your personal information: last name, Social Security Number or ITIN, and Date of Birth. But one must already be a Capital One client.Thus, opening a personal account in Capital One Bank is simple and easy. Usually, it takes about 5 minutes if customers are already bank clients.
How to sign in to the personal account
Customers can sign in to their accounts in two ways. Firstly, they may use the bank’s website. They will see the “Sign In” button on the homepage and need to click it. After that, they will be redirected to the verification page, where they should enter their username and password. Finally, they will sign in to their accounts.
Also, they can use the mobile application. It requires downloading the app from Google Play or AppStore. They will also need to use their username and password, but after that, they can set verification via built-in scanners like fingerprints or Face ID.
