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Capital One bank review

Rate This Bank : 1 Stars 2 Stars 3 Stars 4 Stars 5 Stars 3.44  (9 User Voted)

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.

FDIC insurance

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.

Capital One Bank Rates & Review
18 Responses to "Capital One bank review"
  1. Tom February 02, 2013 at 7:42 am

    Cap one is really a great company to deal with. Only thing is the great interest rates have dropped faster than the titanic. When I,opened it up it was .95 now down to .50 Now they took over ing direct and ing rates have gone from .90 to .75. I think that's enough to move the high interest money market acct to ally. However I'm still keeping my cap 1 no hassle rewards. It truly is "no Hassle". Cap one has been extremely easy to deal with while redeeming rewards and exceptional to,deal with when you have a question. I rate them an AAA+ in my book

  2. Jacob August 15, 2012 at 6:31 am

    Are there any other ways to save money in Capital One other than the Smart Savings account?

    1. Maria September 10, 2012 at 10:42 am

      Jacob, I believe Capital One Bank also offer CDs -- please see above. Thanks, Maria

  3. FRED RICE November 01, 2010 at 5:56 pm

    IS CAPITAL ONE BANK DIFFERENT FROM CAPITAL ONE FINANCIAL CORP?

  4. Jonathan November 01, 2010 at 12:24 pm

    Hi Fred, Capital One Bank is a part of Capital One Financial Corp. The Capital One family of companies, includes Capital One Bank (USA), N.A. and Capital One, N.A., Members FDIC.

  5. Jonathan October 18, 2010 at 4:42 pm

    Hi Betty, According to Capital One's website (as of today, October 18, 2010), you can easily withdraw your money from their high yield money market account in three different ways: 1) Transfer money online between your Capital One High Yield Money Market Account and your existing bank (and some brokerage) accounts through Capital One's free Online Banking service 2) Write a check to yourself or anyone else 3) Withdraw money with an ATM card. You can also wire money out of your High Yield Money Market account, although you'll need to pay a $20 service charge. Read their FAQs for important details on this process as well as all of the above points.

  6. Jonathan September 15, 2010 at 3:46 pm

    Good question Anthony - yes in this savings account, you will earn whatever is the then-current interest rate, and if the rate goes up - or down - your earned interest will change. This is different than a certificate of deposit (which some other financial institutions at this website offer), where the amount of interest that you earn is fixed for the term (length) of the certificate of deposit you sign up for.

  7. Anthony September 13, 2010 at 11:00 pm

    Will the 1.35% rate increase over time? For instance, if I open an account, and the economy bounces back over the upcoming years, will the 1.35% automatically increase on the account?

  8. Jonathan September 08, 2010 at 4:40 pm

    Hi Swayze, there is currently no minimum to open an account or to earn interest (you can see under the interest rate it says "Minimum to Earn APY: $0"

  9. Swayze September 08, 2010 at 2:09 pm

    What is the minimum to open and is there a minimum to keep in the account?

  10. Jonathan September 08, 2010 at 12:36 pm

    Hi Jim - Actually the current rate of 1.35% is a very competitive rate for the times we are living in now. When you compare Capital One against other national banks like Chase at .01%. Bank of America at .20%, Wells Fargo Bank at .05% and Citibank at .70%, is a high interest rate. There are other institutions which have higher rates, but many of them are local credit unions which have geographic or other restrictions.

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Advertiser Disclosure: Many of the savings offers appearing on this site are from advertisers from which this website receives compensation for being listed here. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). These offers do not represent all deposit accounts available.