Capital One Bank Review
In the more than two decades since Capital One was founded, this Virginia-based bank has grown both in size and in reputation.
CapitalOne Financial Corporation is a financial holding company that offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients. Established in 1995, Capital One has become a Fortune 500 company in less than a decade and is one of the 10 largest banks in the U.S. based on deposits.
Capital One currently has both branch-based and direct-banking operations, with the direct banking portion of the business existing under the name Capital One 360. For information on this online-only arm of the bank, please see this Capital One 360 review.
On its branch side, Capital One holds more than 45 million customer accounts and about 1,000 branches. The bank also offers extensive consumer and business services at their branches in New York, New Jersey, Texas, Louisiana, Virginia, Maryland and Washington, D.C.
Awards and reputation
Capital One's Direct Banking Call Center was recognized by J.D. Power and Associates for providing "An Outstanding Customer Service Experience" two years in a row. In addition, the bank has been ranked second in North America and fifth globally among "Global Top Companies for Leaders" by Fortune magazine and Hewitt Associates and received the Retail Banker International's Award for Product Innovation.
Some of Capital One's local branches have also received recognition. As an example, Capital One Bank in Shreveport, Louisiana received the Shreveport Times' Readers Choice Award for "Best Bank in Town."
The Better Business Bureau has given Capital One Financial Corporation, the parent company of Capital One, a B+ rating. The corporation is an accredited Better Business Bureau company.
In online reviews, customers have rated Capital One above-average on customer service, fees and charges, the online experience, bank rates and overall satisfaction.
Accounts and services
Capital One is a full-service financial institution giving customers the option of banking online and in-person service at branch locations. Customers can open a checking account, a savings account, a money market account or a certificate of deposit (CD) at any of Capital One's branch locations. Customers have a variety of checking accounts to choose from.
If you choose to open a money market account or other deposit account at Capital One, you can easily transfer funds from one account to another online or access the 24-hour automated customer service department by phone. Live customer service representatives are available six days each week.
Capital One also offers mortgage and home equity loans, auto loans and credit cards.
Consumers can use the MoneyWi$e Online Learning Tools, an interactive, web-based system of tools, tips and resources to help consumers handle their finances. Free print versions of the MoneyWi$e Learning Tools are available in multiple languages.
As one of the 10 largest banks in the nation, Capital One has found an expansive customer base of people who trust the bank and its services. But no matter how reliable a bank is, every consumer should be certain that their funds are insured and will be restored to them in the unlikely event of a bank failure. All deposit accounts at Capital One are FDIC-insured to the maximum amount of $250,000 per depositor.