If you’re here, you’ve likely decided on or are strongly considering opening a Capital One account. Capital One is the fifth-largest consumer bank in America, and the eighth-largest bank overall. Run by its founder Rich Fairbanks, Capital One is known for its unique approach to banking with its “Capital One Cafes” scattered across the country. Show
A recent GOBankingRates survey found that more than 30% of Americans don’t have bank accounts. And many who do never consider moving their assets to another bank — even when they’re offered lucrative sign-up bonuses to do so. Whether you’re a first-time bank account owner or you have experience across multiple banks, learning how to open a Capital One account is as simple as spending a few minutes on this article. This guide will cover every step to opening an account with Capital One, as well as main account features, how to avoid fees and whether Capital One is really the right choice for you. Jump to a section:
Steps To Open a Capital One AccountIf you’re wondering how to open a Capital One account, you’ve come to the right place. This guide will give you detailed instructions on finding the right account for you, what documents you’ll need to open it, how to apply in person or online and more. Related: Best Capital One 360 Promotions and Offers 1. Determine Which Bank Account You Want To OpenThe Capital One account you want to open depends on your current banking needs. Are you looking for a bill-pay account to use for rent, utilities and other monthly expenses? Or do you need a secure place to grow that new car fund? Capital One has a bevy of checking, savings and CD accounts, but for the sake of simplicity, this guide will talk mostly about its checking and savings options. Capital One checking accounts:
Capital One savings accounts:
Back to top 2. Gather Your Personal InformationYou may be asking yourself “What do I need to open a Capital One account?” Well, here are the Capital One account opening requirements. Whether you’re applying for an account online or in person, you’ll need these documents/information.
If you decide to go to a branch to open an account, you’ll want to bring your driver’s license, state ID or military ID to verify your identity. Back to top 3. Apply Online or in PersonYou can apply to open an account either online or in person. The process should be simple if you have all the required information listed above. To apply online, follow these steps:
You can also visit your nearest Capital One branch and have a representative walk you through the application process. This is preferable for customers who are new to Capital One or banking in general. To find a Capital One location near you, use its branch locator and enter your location. Check Out: Capital One Review: Is It the Right Bank for You? Back to top What To Do If You Need Help From Capital One Customer ServiceIf you have questions that could best be answered by a Capital One customer service representative, call one of the following numbers:
You can also send an inquiry via mail to Capital One Bank, P.O. Box 180, St. Cloud, Minnesota 56302-0180. Back to top Capital One Account Fees and FeaturesYou may be wondering “What are Capital One’s account types?” Just like any other major bank, Capital One gives you access to a range of checking, savings, CD and retirement accounts. This section will go over the main fees and features of Capital One checking and savings accounts. Back to top Checking Account Fees and FeaturesDifferent banks have different policies regarding checking account fees. Capital One, in particular, has no fees for either of its checking accounts. Not only does Capital One offer fee-free checking, but it also pays an interest rate of at least 0.20%. Added to the fact that you can visit a network of branches and withdraw money from ATMs without charge, Capital One gives customers plenty of reason to ditch their old accounts. Capital One offers two checking accounts: the 360 Checking account and the MONEY Teen Checking account.
Find Out: Best Checking Accounts of 2020 Back to top Savings Account Fees and FeaturesJust like its checking products, Capital One savings accounts are fee-free. It should be noted that, like the vast majority of savings accounts, there is a fee of $15 for withdrawals beyond the allotted amount of six per month. Capital One makes saving simple with a high-interest savings account for adults, savings account for kids and two IRA accounts. Let’s take a look at some of the fees (spoiler: there are none) and features of these accounts.
Discover: Best Savings Accounts of 2020 Back to top  How To Avoid Unwanted FeesCapital One is a fee-free bank, so you don’t have to worry about keeping money in your accounts, taking cash out of an ATM or even overdrawing your account. It’s simple and stress-free banking to its core. Monitoring and Protecting Your Bank AccountThe main reason that so many Americans won’t use online banking is the fear of fraud. But there are precautions you can take to help prevent fraud from happening to you. If you are a victim of fraud, you can rest assured: Capital One accounts are FDIC insured up to $250,000, so as long as you’re below that amount, you’ll get your money back. Here are some steps you can take to avoid fraud:
Read: How To Find and Use Your Capital One Login Back to top Should You Open a Capital One Account?Capital One combines the biggest pros of brick-and-mortar banks and online banks into one. With a network of full-service branches and nearly 40,000 ATMs, you can do your physical banking at Capital One with ease. At the same time, it also offers some of the most competitive interest rates on the market. If that weren’t enough, Capital One takes the fees out of banking — you don’t have to worry about a monthly maintenance fee, for example. Overall, this big bank is remarkably transparent and catered to its customers. If you choose to open a Capital One account, you more than likely won’t regret it. More On Capital One
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This article was updated on Dec. 2, 2021, to remove mention of overdraft fees, which will be eliminated in January 2022. This content is not provided by Capital One. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Capital One.
What do you need to open a Capital One bank account?What does it take to open a bank account online?. Your driver's license, passport or other government-issued ID card.. Social Security number or Individual Taxpayer Identification Number (ITIN). A blank check, debit card or credit card to make that first deposit.. How much does it cost to open a Capital One bank account?There are no fees to open, keep or use your Capital One 360 Checking account, or for foreign transactions. But let's be totally upfront here: There may be some things you want or need to do with your account that will result in charges.
Can I open a Capital One bank account online?You can open an account online in about five minutes.
We have many different types of checking & savings accounts from which to choose. Explore details and compare accounts.
What is the minimum balance for Capital One?What is the minimum payment on a $2,000 credit card balance?. |
How to open a capital one bank account
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