Capital One 360 Bank Review: Checking, Savings and CDs

If you want a consumer-friendly online bank that doesn’t have monthly service fees or overdraft charges, Capital One 360 could suit you well.
Margarette Burnette
By Margarette Burnette 
Edited by Sara Clarke

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Capital One
Learn more

at Capital One, Member FDIC

  • Savings
  • Certificates of deposit
  • Checking
  • Customer experience
  • Overdraft fees

Overall institution rating

4.5

NerdWallet rating 
The bottom line:

Capital One stands out with one of the best combinations of online bank perks — no checking or savings fees, a competitive savings rate and some high CD rates — and a brick-and-mortar presence. It offers a top-of-the-line bank experience with strong customer support and doesn’t charge any overdraft fees.

Best for: Customers who want free checking and savings accounts with strong rates, might be likely to overdraft and prefer a bank that’s mostly online.

Editor's note: On Feb. 19, 2024, Capital One announced plans to acquire Discover. Here's what that would mean for customers.

Pros

  • No overdraft fees.
  • No monthly fees.
  • Competitive rates on savings and some CDs.
  • Large, free, nationwide ATM network.
  • No minimum opening deposits.

Cons

  • No cash deposits at partner ATMs.

Full review

Savings

Capital One 360 Performance Savings™

Savings

Member FDIC

4.5

/5
 NerdWallet rating 
APY
4.25%
With $0 min. balance for APY
Bonus
N/A
Learn more

at Capital One

Solid rate and no monthly fee: The Capital One 360 Performance Savings Account interest rate is 4.25% APY, significantly higher than the national average of 0.45%. There’s no minimum deposit required to open this account, and no monthly maintenance fee.

» SHOP AROUND: See the best high-yield savings accounts

Certificates of deposit

Capital One 360 CD
Capital One 360 CD

CD

Member FDIC

4.0

/5
 NerdWallet rating 
1-year APY
5.00%
3-year APY
4.00%
5-year APY
3.90%
Minimum deposit
$0

Solid CD rates and no opening minimum: Capital One 360 CD rates compare favorably to other banks and credit unions that NerdWallet analyzes. There's no minimum balance required, and if you end up withdrawing early, the most you pay is six months' worth of interest, even for five-year terms. Some banks charge a year of interest.

» COMPARE: See the best CD rates

  • 6-month CD: 4.25% APY.

  • 9-month CD: 4.25% APY.

  • 1-year CD: 5.00% APY.

  • 18-month CD: 4.45% APY.

  • 2-year CD: 4.00% APY.

  • 30-month CD: 4.00% APY.

  • 3-year CD: 4.00% APY.

  • 4-year CD: 3.95% APY.

  • 5-year CD: 3.90% APY.

» Learn more details about Capital One CD rates

Checking

Capital One 360 Checking
Capital One 360 Checking

Checking

Member FDIC

4.5

/5
 NerdWallet rating 
Monthly fee
$0
APY
0.10%
With $0 min. balance for APY
Bonus
N/A

No monthly fee and interest-earning: It's somewhat rare to find a no-monthly-fee checking account that pays interest, but Capital One 360 Checking does: 0.10% APY on all balances. There's also no opening balance requirement.

Free nationwide ATM network: You can make free check deposits and cash withdrawals at Capital One-branded ATMs and ATMs in the Allpoint and MoneyPass networks, for a total of more than 70,000 ATMs. Some of these machines can be found at certain CVS®, Target and Walgreens locations. But note that you can deposit cash using an ATM only at a Capital One-branded machine. Another option for depositing cash is to add cash at a CVS store, which requires using the bank’s mobile app.

» CONSIDER: NerdWallet’s best checking accounts

Fast transfers available: Capital One is part of the Zelle network, which enables transfers to other banks within minutes. See other banks that use Zelle.

Early direct deposits available: You can get your paychecks up to two days sooner at Capital One. Check out other banks that also have early direct deposits.

Customer experience

4.5

NerdWallet rating 

High app ratings and multiple support options: Capital One 360 accounts boast some of the best mobile experiences for a bank, earning high ratings from both iOS and Android users. And if you need to talk to a person, reps are available by phone every day from 8 a.m. to 11 p.m. EST. Eno, Capital One 360’s virtual assistant, is available through the app or by text, and there's X (Twitter) support and in-person help at Capital One Cafés as well.

A rare perk for an online bank: branches. The bank has Capital One Cafés in select states; these locations are hybrid offices where you can explore banking options, speak to a representative, get beverages and snacks and use free Wi-Fi.

You'll find Capital One branches in fewer than 10 states plus Washington, D.C. Still, the bank has hundreds of branches, which isn’t common for online institutions, many of which don’t offer any branches at all.

Reputation for high customer satisfaction: Notably, in 2022 Capital One was the No. 1 bank in the J.D. Power National Banking Satisfaction Study for the third consecutive year. In 2023, it tied with Bank of America as the highest ranking bank in the South Central region.

» COMPARE: NerdWallet's picks for best banks for mobile banking

Overdraft fees

5.0

NerdWallet rating 

No overdraft fees: Capital One doesn’t charge fees for overdrafts or nonsufficient funds. More and more banks are eliminating or reducing overdraft fees, but some banks still charge more than $30 per overdraft, and some charge the fee multiple times per day.

Multiple ways to deal with overdrafts: Capital One customers have three options for dealing with overdrafts. You can:

  • Have the bank automatically decline transactions that would overdraw your account.

  • Set up free transfers from a linked savings or money market account to cover any overdrawing transactions (some banks charge $10 or more for this service).

  • Have overdrafts covered by the bank for no fee. You must make regular deposits to your checking account to be eligible for this overdraft option. When Capital One covers your overdrafts, you must deposit funds right away to cover the overdraft. If your balance remains negative, the bank can choose to deny additional overdrafts and could even close your account.

» CHECK OUT: Our list of the best banks for overdrafts

How does Capital One compare?

Current Product

NerdWallet rating 

4.5

/5
NerdWallet rating 

4.5

/5

APY 

4.25%

With $0 min. balance for APY

APY 

4.60%

With $0 min. balance for APY

Bonus 

N/A

Bonus 

$300

Earn up to $300 with direct deposit. Terms apply.

Learn more

at Capital One

Learn more

at SoFi Bank, N.A.

Methodology

NerdWallet’s overall ratings for banks and credit unions are weighted averages of several categories: checking, savings, certificates of deposit or credit union share certificates, banking experience and overdraft fees. Factors we consider, depending on the category, include rates and fees, ATM and branch access, account features and limits, user-facing technology, customer service and innovation. The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star. How we rate banks, credit unions and other financial service providers.