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Capital One Bank Review 2024

Updated September 9, 2024
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At a glance

Best big bank
4.7
Rating: 4.7 stars out of 5
Bankrate Score
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CDs

Rating: 4.9 stars out of 5

Checking

Rating: 5 stars out of 5

Savings

Rating: 4.4 stars out of 5

About Bankrate Score

Overview

Capital One is ideal for consumers looking for competitive rates and no monthly fees along with the experience of a full-service bank. It offers access to a wide network of no-fee ATMs and branch locations in select states.

Highlights

  • High APY
  • Digital Leader
  • No Monthly Fees
Sponsored offers
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These are sponsored offers rated highly by us for competitive rates, fees, and minimums.

Bank logo
Member FDIC
Savings Account
4.00
%
APY
APY
Info Icon
As of 11/12/2024
Rating: 4.4 stars out of 5
$0
Min. balance for APY
View offer Arrow Right Icon
Promoted offer: It only takes about 5 minutes to open a fee-free account.
Bank logo
Member FDIC
Savings Account
4.00
%
APY
APY
Info Icon
As of 11/12/2024
Rating: 4.4 stars out of 5
$0
Min. balance for APY
View offer Arrow Right Icon
Promoted offer:
Bank logo
Member FDIC
Savings Account
4.80
%
APY
APY
Info Icon
As of 11/12/2024
Rating: 4.7 stars out of 5
$0
Min. balance for APY
View offer Arrow Right Icon
Promoted offer: No fees. Easy deposits and quick withdrawals.

Overall

Capital One Bank is among the 10 largest U.S. banks by assets. While it offers branches in a handful of states, customers can access accounts online from just about anywhere. The bank offers high rates on its savings and certificate of deposit accounts (CDs) and a free checking account that pays interest. There are no balance minimums or monthly fees, and you won’t need to worry about overdraft fees either.

Capital One was named best big bank and best bank for ATM access as part of the 2024 Bankrate Awards, which recognizes the best financial products available to consumers.

Pros

  • Checkmark Icon

    Capital One offers no-fee access to more than 70,000 ATMs.

  • Checkmark Icon

    You’ll earn competitive rates on savings and CD accounts.

  • Checkmark Icon

    Checking and savings accounts feature no minimum balance requirements.

  • Checkmark Icon

    The mobile app is highly rated by iPhone and Android users.

Cons

  • Bank branches are limited to just a handful of states.

  • Capital One no longer offers money market accounts for new customers.

CTA We want to know what you think about Capital One

We want to know what you think about Capital One

Do you have experience with Capital One? Let us know your thoughts.

Capital One banking products

4.4
/5
Rating: 4.4 stars out of 5
SCORE BREAKDOWN
APY offering:
4.00%
Rating: 4 stars out of 5
4/5
Info Icon
Minimum balance for APY:
$0.00
Rating: 5 stars out of 5
5/5
Info Icon
Monthly service fee:
$0.00
Rating: 5 stars out of 5
5/5
Info Icon
Minimum balance to avoid fee:
$0.00
Rating: 5 stars out of 5
5/5
Info Icon
Access to funds:
Good
Rating: 4 stars out of 5
4/5
Info Icon
FEATURES
Invest Rate Icon
4.00% APY
Info Icon
Savings Icon
$0 minimum balance for APY
Loan Icon
$0 minimum deposit to open

Capital One savings overview

Capital One’s 360 Performance Savings account offers a competitive yield and doesn’t have a minimum balance requirement, making it suitable for all savers. Users can set savings goals and automatic savings plans (with funds transferred from a Capital One 360 checking account) for additional budgeting ease.

Pros

  • Checkmark Icon

    The 360 Performance Savings account has no monthly services fees.

  • Checkmark Icon

    The Capital One app allows you to make mobile deposits and set up an automated savings plan.

  • Checkmark Icon

    No minimum balance is required to open or maintain an account.

Cons

  • The 360 Performance Savings account doesn’t include a debit card or an ATM card.

  • Higher rates can be found at other online-only banks.

  • See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

    Capital One
    APY
    APY
    Info Icon
    National average APY
    How do we get this data?
    Info Icon

Bank fees

Fee Charged?
Overdraft fee None
Non-sufficient funds fee None
Account maintenance fees None
Out-of-network ATM fee None
Excessive transaction fee None

Customer experience

Customer support

Physical presence. Capital One has more than 250 branches in select states for in-person banking, and it operates around 50 Capital One Cafés, where customers can open accounts, as well as deposit cash and checks. Customers can also access more than 70,000 fee-free ATMs through Capital One's owned-and-operated machines, and the Allpoint and MoneyPass networks. Mobile app users can take advantage of the Add Cash in Store feature to deposit cash at CVS and Walgreens stores through a cashier.

Customer service hours. Deposit account holders can reach out to representatives over the phone daily from 8 a.m. to 11 p.m. ET. Automated services, including Capital One’s digital assistant Eno, are available 24/7. 

High customer satisfaction. Capital One scored highly in overall customer satisfaction among online-only banks for both its checking and savings products, according to J.D. Power’s 2024 Direct Banking Satisfaction Study

Digital experience

Highly rated mobile app. Capital One’s mobile app, which has been reviewed by more than 9 million users, earned high marks on the Android and iOS app stores. The bank was the first in the U.S. to launch a skill for Amazon’s Alexa so that customers can voice commands to search for information, such as bank account balances. All this noted, a Bankrate staff member with a Capital One account commented that the app lacked useful breakdowns of spending and saving patterns; instead, there’s just a very basic money in, money out module. 

Digital assistant. Capital One has a digital assistant called Eno, which you can interact with on the app or over text. Eno can be used to check your balance, recent transactions, available credit and payment dates. It can also be used to activate, lock or replace a card and even pay bills. “Eno is very easy to use, and I found it helpful when trying to find information on how to set up Apple Pay,” said a Bankrate staff member with a Capital One account. “Although when I asked it to explain how early direct deposit works, it couldn’t come up with an answer.”

Manage Funds


The above images were last updated on March 13, 2024.

Complaints

Data breach fine. The Office of the Comptroller of the Currency, a U.S. bank regulator, ordered Capital One to pay an $80 million fine because the bank failed to ”establish effective risk assessment processes prior to migrating significant information technology operations to the public cloud environment.” Moreover, the bank failed to correct these deficiencies in a timely manner, resulting in a massive data breach of their customer’s information in 2019.

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Bankrate staff insight

“With Capital One, I can get a solid APY on a checking account that exceeds what most of the big banks are offering on their savings accounts — so that’s a big differentiator,” says a Bankrate staff member who uses a Capital One account personally. “At the same time, knowing that I could get to a branch if necessary gives Capital One a big edge against the top online competitors who lack a physical presence. However, the branch network is on the thin side, so that’s one area that I can note that gives other big banks an edge for convenient access to in-person services.”

Disclosure: To enhance our product reviews, Bankrate employees often open accounts and provide feedback. They may have been compensated for their time and account maintenance, but this does not affect the integrity of their review.

About Capital One

The banking unit of Capital One Financial Corp. offers checking and savings accounts, as well as CDs. Richard Fairbank and Nigel Morris started building Capital One (then as a unit of Signet Bank) in 1988. In 1994, Capital One spun off under its name, offering credit cards. In 2012, Capital One acquired ING Direct and rebranded the lender as Capital One 360.

Capital One is ideal for consumers looking for competitive yields, a highly rated banking app and access to a wide network of no-fee ATMs.

Capital One operates almost 300 branches in Louisiana, Maryland, New Jersey, New York, Texas, Virginia and Washington, D.C.

How Capital One compares to other banks

Compare different account types offered by Capital One. Annual percentage yields (APYs) shown were updated between Nov. 5, 2024 and Nov. 11, 2024.

Selected bank
Capital One savings account
Capital One Logo
Member FDIC
Bankrate score
Rating: 4.9 stars out of 5
4.9
Info Icon
Most comparable
Ally Bank savings account
Ally Bank Logo
Member FDIC
Bankrate score
Rating: 4.9 stars out of 5
4.9
Info Icon
Read review
Search for or select a bank:
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Bankrate score
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Read review
APY
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4.00% 4.00%
Minimum balance for APY
$0.00 $0.00
Estimated earnings
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$2,000 $2,000
Capital One’s 360 Performance Savings Account earns a competitive yield. It doesn’t require a minimum opening deposit and you won’t pay a monthly service fee with this account. Capital One is one of the few online banks that you can visit at a branch location to withdraw cash. Ally Bank consistently offers a competitive yield on its Online Savings Account. The online bank doesn’t have the absolute highest yield, but it offers a competitive one and doesn’t have a minimum balance requirement or a monthly service fee. The bank offers mobile deposit, but you’ll need to transfer money to the Ally checking account or money market account if you want to access money in your savings from an ATM.
  • The bank pays a competitive yield on its 360 Performance Savings Account.
  • The Capital One 360 Performance Savings Account doesn’t have a monthly service fee.
  • You don’t need a minimum opening deposit.
  • You can deposit checks through mobile deposit with this account.
  • Ally Bank offers a competitive yield on its Online Savings Account.
  • Ally Bank has savings tools, such as Surprise Savings where Ally Bank looks at your linked checking account for savings opportunities.
    N/A
  • Some banks offer a higher yield on their savings accounts.
  • Ally Bank doesn’t offer ATM access directly from its savings account.
  • Some other online banks offer a higher yield than Ally Bank.
    N/A
APY offering:
4.00%
4/5
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Minimum balance for APY:
$0.00
5/5
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Monthly service fee:
$0.00
5/5
Info Icon
Minimum balance to avoid fee:
$0.00
5/5
Info Icon
Access to funds:
Good
4/5
Info Icon
APY offering:
4.00%
4/5
Info Icon
Minimum balance for APY:
$0.00
5/5
Info Icon
Monthly service fee:
$0.00
5/5
Info Icon
Minimum balance to avoid fee:
$0.00
5/5
Info Icon
Access to funds:
Good
4/5
Info Icon
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Bankrate does not currently track additional product details for this bank.

Capital One FAQs

Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.

Capital One customer reviews

CTA Capital One has 25 reviews

Capital One has 25 reviews

Dive into community reviews below and see what others think about Capital One.

4.6 Star Icon
25 ratings
Info Icon
Score breakdown
5 stars
72%
4 stars
20%
3 stars
8%
2 stars
0%
1 star
0%
Score by category
Overall Rating 4.6 / 5
Competitiveness of APY 4.1 / 5
Amount of fees 4.1 / 5
Customer support 4.6 / 5
Website / Mobile app 4.5 / 5
Verified Badge Icon Bankrate methodology disclosure

In July 2024, Bankrate collaborated with a third-party vendor to survey 1,200 bank account holders nationwide. Bankrate and our vendor collected and summarized account holder responses to five rating questions on a 5-point scale as well as open-ended reviews of the banking experience. Responses are based on individual account holder product details, and therefore cannot be verified for accuracy. Reviewers received an incentive for their feedback. Their ratings are unedited and have not been reviewed or approved by the associated bank or credit union, nor do these responses reflect Bankrate's own expert review of these banking products.

Community Reviews

See what users like you are saying about Capital One.
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Anonymous account holder
September 13, 2024
It has a good interest rate and they have great customer service. I was a repeat customer. I trusted Capital One because I used them for years. That's the only thing I can think of.
Score by category
Amount of fees 5 / 5
Competitiveness of APY 5 / 5
Customer support 5 / 5
Website / Mobile app 5 / 5
Anonymous account holder
September 13, 2024
No minimum balance. Capital One meets all of my banking needs.
Score by category
Amount of fees 4 / 5
Competitiveness of APY 4 / 5
Customer support 4 / 5
Website / Mobile app 4 / 5
Anonymous account holder
September 13, 2024
It has a high APY and it’s federally secured. Capital one is well known and federally secured they also have a great rewards cash back program.
Score by category
Amount of fees 5 / 5
Competitiveness of APY 5 / 5
Customer support 5 / 5
Website / Mobile app 4 / 5
Anonymous account holder
September 13, 2024
Easy online usage. They fixed my problem in one call.
Score by category
Amount of fees 2 / 5
Competitiveness of APY 2 / 5
Customer support 4 / 5
Website / Mobile app 4 / 5
Anonymous account holder
September 13, 2024
Good interest rates. customer service, online support, ATM availability.
Score by category
Amount of fees 5 / 5
Competitiveness of APY 5 / 5
Customer support 5 / 5
Website / Mobile app 5 / 5
Anonymous account holder
September 13, 2024
They keep my money and information safe and secure. Capital One is great with customer service in all aspects.
Score by category
Amount of fees 4 / 5
Competitiveness of APY 4 / 5
Customer support 5 / 5
Website / Mobile app 5 / 5
Anonymous account holder
September 13, 2024
Capital one offers alot. they offer me great rates better then most credit companies. Customer Service Interest rates Innovativeness and.
Score by category
Amount of fees 5 / 5
Competitiveness of APY 5 / 5
Customer support 5 / 5
Website / Mobile app 5 / 5
Anonymous account holder
September 13, 2024
Fast efficient and with a smile. Referrals from friends and family.
Score by category
Amount of fees 5 / 5
Competitiveness of APY 5 / 5
Customer support 5 / 5
Website / Mobile app 4 / 5
Anonymous account holder
September 13, 2024
They have many different types of financial products available. Easy to apply Good rates Good opening dollars.
Score by category
Amount of fees 4 / 5
Competitiveness of APY 4 / 5
Customer support 4 / 5
Website / Mobile app 4 / 5
Anonymous account holder
September 13, 2024
I don't generally use customer service, because I take care of all my business through the app. I needed a bank that uses zelle to pay my rent, and they were readily available when I applied.
Score by category
Amount of fees 5 / 5
Competitiveness of APY 5 / 5
Customer support 5 / 5
Website / Mobile app 5 / 5