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Capital One 360 Checking Account Review

Reviews 2,311
Capital One 360 Checking
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Capital One 360 Checking
Capital One 360 Checking
Poor
Reviews 2,311
Catherine Miller
Oct. 01, 2023
4 min read
Catherine Miller
Capital One 360 Checking Summary
Capital One started 25 years ago, focusing on credit card services. It’s now a major bank serving over 100 million customers across the United States. Its 360 Checking account has no fees, for ongoing maintenance or overdrafts—a major advantage. There’s also a useful mobile app with a check deposit option, and you can also collect your salary early. If you’re after an inexpensive checking account, Capital One 360 is definitely worth a look.

Pros

  • No fees on the account
  • Early paycheck feature
  • Fee-free overdrafts

Cons

  • App comes with limited features
  • Low interest rates

Capital One 360 Checking at a glance

9.6
Editorial score

Fees?

Most products are fee-free
8.0

Security

FDIC insured, SSL/AES encryption and supports 2 factor authentication
10.0

Customer service

24/7 service with multiple communication options, dedicated fraud team
10.0

Online experience

Excellent user friendly site with transparency of rates and full online banking capabilities
10.0

Mobile experience

Excellent mobile app with all mobile banking features enabled, including digital check deposits
10.0

Capital One 360 Checking Capital One 360 Checking Visit CapitalOne

Advantages Over Traditional Banks 

The Capital One 360 Checking account doesn’t have any ongoing maintenance fees or a minimum deposit. This is a real advantage of this account because it doesn’t matter what your balance is. 

Another excellent feature is the lack of overdraft fees, no matter which overdraft option you pick. This means Capital One won’t charge you if it approves a payment you can’t cover. Transactions can also be auto-declined if they will cause you to go into overdraft, or you can set up a free transfer of funds from a savings account to cover it. 

Cutting-Edge Banking Services 

Capital One’s checking account comes with a useful mobile app for checking your balance on the go. If you have an Apple device, this can be even easier with the iOS widget, which shows your balance without you needing to log into the app. You can also set up purchase alerts to give you an instant notification when you buy something, allowing you to keep track of your spending and identify suspicious activity on your account.

Another useful feature is the ability to deposit cash at a participating retail store (CVS, Walgreens, or Duane Reade at Walgreens), using your app to provide a scannable barcode. You can add up to $999 every day and don’t need your bank card to complete the deposit, making it a convenient option. You can also deposit checks remotely. 

In addition, you may find the early paycheck feature useful—this allows you to take your salary up to two days earlier than scheduled. Additionally, Capital One integrates with Zelle, a digital payments network that allows you to quickly and easily transfer and receive money to and from other people.

Traditional Banking Services 

With the Capital One 360 Checking account, you can take money out of 70,000 free ATMs across the US. You can also visit a Capital One branch if you need in-person support.

Capital One also offers other checking and savings accounts, as well as credit cards. You can even access auto-financing through Capital One. However, the bank doesn’t currently offer mortgages. 

Interest Rates and Fees 

The 360 Checking account has no fees for opening or maintaining your account. However, some services do incur fees:


Feature

Fee

Purchasing cashier’s check

$10 in-store; $20 online

Outgoing domestic wire transfer

$30


There may also be a fee for depositing a foreign check and when you order additional checkbooks.

Your account balance will earn an annual percentage yield (APY) of 0.10%. This is a very low interest rate, which isn’t unusual for a checking account. However, if you’re looking for an account that will add more interest to your balance, it might be worth exploring other options.

Customer Service and Online Experience 

The Capital One website has a useful help center where you can search for the answers to common questions. If you need further support, an automated phone service is available 24/7, and live phone support can be reached 8am-11pm (ET). On the app, you can get chatbot support 24/7.

The website is fairly easy to use, and you can access all the online banking features through your desktop as well as the mobile app. It’s easy to find all the necessary information about the account before you decide to open it. You can open your account online, and the process takes just five minutes. 

The bank currently has an average rating of 1.3 out of five stars on Trustpilot (from 2,085 reviews) and 1.12 out of five on the Better Business Bureau (from 1,247 reviews). Although many user complaints center on Capital One’s credit cards, it’s worth noting that some users have had difficulty accessing customer service.

Mobile App  

The Capital One mobile app is available for both iOS and Android devices. It allows you to check your balance and track your spending on the go. You can make mobile check deposits using the app so you don’t need to visit a branch to add money to your account.

You can also interact with Capital One’s AI assistant, Eno, to get support with your account and receive alerts of any suspicious activity. In addition, you can monitor your credit score through the app if you wish.

On the Google Play store, the mobile app has an average rating of 4.6 out of five stars (from 1.45 million reviews) and 4.9 on iOS (from 7.7 million ratings). Users like the simplicity of the app and being able to see their different balances immediately. Some report technical errors, however. 

Security

Capital One had a serious security breach in 2019, and since then it has focused on revamping security. It uses multi-factor authentication (MFA) to make logging in more secure, including the option to use facial or fingerprint recognition. 

It’s easy to report suspicious transactions via your account, and you can freeze your card remotely using the app if you suspect malicious activity. You can also connect with the dedicated fraud team if you wish. The automated phone service is available 24/7, or you can speak to a representative, Sunday-Saturday, 8am-11pm (ET). 

What’s more, your money is FDIC-insured, which means that if something happens to Capital One as a business, the cash in your account is protected up to a limit of $250,000. 

Summary

The Capital One 360 Checking account is an easy-to-use addition to the online banking world. It doesn’t have many fancy features, although you might find the mobile check deposits, in-store cash deposits, and AI chatbot helpful. 

The real advantage of this account is the lack of fees, both in terms of ongoing maintenance, and overdraft costs. Capital One gives you access to ATMs nationwide and you can easily manage your money on the go with the mobile app. If you’re looking for a low-cost banking solution that gives you a straightforward way to engage with your account through your mobile, the Capital One 360 Checking account is worth exploring.

Capital One 360 Checking Capital One 360 Checking Visit CapitalOne

Methodology

This review was compiled using the Capital One website, the Google Play and Apple Stores, and reviews from Trustpilot and the Better Business Bureau. 

Catherine Miller
Written by
Catherine Miller
Catherine Miller is a lead member of personal finance and pension innovator Maji, where she’s responsible for content creation and running Maji’s personal finance masterclass, among others. She is also a freelance writer in the fields of finance and education, and holds degrees in English and education.
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