- Certificates of deposit
- Customer experience
- Overdraft fees
Overall institution rating
Capital One stands out with one of the best combinations of online bank perks — no checking or savings fees, a competitive savings rate and 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.
- No overdraft fees.
- No monthly fees.
- Competitive rates on savings and CDs.
- Large, free, nationwide ATM network.
- No minimum opening deposits.
- No cash deposits at partner ATMs.
Solid rate and no monthly fee: The Capital One 360 Performance Savings Account interest rate is 4.35% APY, significantly higher than the national average of 0.46%. 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
4.0/5 NerdWallet rating
Competitive 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
» Learn more details about Capital One CD rates
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.
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
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?
Capital One 360 Performance Savings™
SoFi Checking and Savings
CIT Bank Platinum Savings
With $0 min. balance for APY
With $0 min. balance for APY
With $5,000 min. balance for APY
Earn up to $300 with direct deposit. Terms apply.
at SoFi Bank, N.A.
at CIT Bank
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.