Capital One 360 Capital One 360
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Capital One 360 Review

Capital One 360
Bottom Line:
An older direct bank with the resources of an established bank; while APYs aren't the highest, features like goal tracking and kid-friendly banking options make it more appealing

Full Review:
Formerly ING Direct, Capital One 360 is a consolidation of Capital One's resources and ING's offerings. When Capital One acquired ING in 2011, it stuck by the adage, "If it's not broken, don't fix it." Aside from rebranding, Capital One simply expanded what was already a successful business into one of the most well-known direct banks. 360 accounts, like their ING predecessors, have some of the highest rates in the industry — now with the financial backing of a much larger bank.

Key Features

Capital One 360 is an FDIC insured institution. As of 2017, its APY rate for its savings accounts has increased to 1.00%. It requires no minimum initial deposit to open an account and no balance to maintain one. Capital One 360 offers several types of savings accounts; however, the most notable are its standard 360 Savings Account and its Kid's Savings Account, which makes it very easy for kids to both learn about money and accrue interest. While other banks offer custodial accounts or allow you to open an account in a child's name, this one has specifically developed a platform designed to teach kids about money. None of the savings accounts except the money market account, with an APY of 1.60%, require a minimum balance to open or maintain, and interest accrues daily and is credited monthly to the accounts. As with all savings accounts, there is a maximum of six online withdraws per month, which is mandated by federal law. While Capital One 360 does not charge a fee for excessive withdraws, it does state that this activity might lead to a closure of the account.

There are no fees associated with Capital One 360 accounts; however, wire transfers ­if approved, ­may cost as much as $30 to process. There are no overdraft fees, as accounts are restricted from withdrawing more than they have at any given time. Finally, designated Allpoint® ATMs are either surcharge free, or you will be reimbursed. Any ATM outside of the Allpoint® network will not fall under this guarantee. ​

Access and Ease of Use

Capital One 360 is accessible via web, mobile and telephone banking. Customer support can be reached by email or phone. Unfortunately, even though Capital One 360 is a subdivision of Capital One, physical Capital One locations cannot be used by 360 customers, which is rather disappointing. In lieu of this, in select cities Capital One provides "360 Cafes" which sell coffee, offer free Wi-Fi and serve as a helpful community for 360 customers.

Capital One 360's online and mobile platforms are pretty comprehensive. Its online options have a streamlined interface that, in addition to the usual features (checking balances, paying bills), allows you to track spending via category, create saving goals and automate saving transfers based on your savings goals. Such features make learning about saving and practicing saving much easier. In addition, Capital One 360 offers a number of other helpful features, such as the ability to create labeled subaccounts and download transactions into Quicken or Microsoft Money. Users can link up to three external accounts, which allows funds to be moved quickly and easily. Mobile options, while limited, allow for the ability to deposit money into your own account via photo and send payments to other accounts inside or outside the bank. Similar to many banks, the mobile app is only available for the Android and Apple platforms, but other mobile users can simply view the mobile site. While support isn't 24/7, Capital One 360 offers 12 hours of phone support from 8 a.m. to 8 p.m. ET, seven days a week, and can be reached by email as well.

Certificate of Deposit Offerings

Capital One 360's CD offerings are pretty standard for the online banking industry. The length of terms vary in intervals of six months, the lowest (six months) offering an APY of 0.60% and the highest (five years) offering 3.10%. ​

Bank Standing and Trustworthiness

Capital One 360, as an affiliate of Capital One Financial Corporation, is one of the largest banks in the country, ranking sixth among the top 50 largest banks in the country. In addition to being FDIC insured, it has $286 billion in assets. Capital One the parent of Capital One 360 currently holds an A+ with the Better Business Bureau. ​


While Capital One 360 doesn't have the highest interest rates among its direct and branchless competitors, unique offerings like its kids banking accounts and goal manager make it competitive and appealing in other ways. If you're solely pursuing the highest interest rate possible, it's likely Capital One 360 is not the best option. However if you're looking for a mature and established branchless bank, with some of the offerings of more traditional banks, it might be a good option.

Compare to Other Savings Accounts

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Service Details

Monthly Fees:None
Minimum to Open Account:$0
Maximum Withdrawals Per Month:6
Deposit and Withdrawal Methods:Electronic transfer, wire, check

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