Question

Does anyone in the group have a Capital One 360 online checking account? I’m thinking of starting one to start saving money but I would like to know your experience with Capital One 360 - it could be checking or savings. I can’t leave my savings and emergency fund dollars at home in envelopes. Thanks!  

Answer 1

I have savings and checking with them, and a credit card too. I love it. The only downside I have found is that I also have a bank of america account, and transfer between the two do take a bit. Usually like 4-5 days, but up to a week or so it seems. It doesnt bother me too much because I'm usually not needing that money right away

Comments

@eal160 I find when I do the transfer to the checking it only takes 2 days to clear. (If it’s over $1000 they give you access to the $1000 then the rest the next day). I’ve been a customer since ING launched. So I will move all the funds to the checking then divvy it up once cleared.  

Answer 2

I have 2 saving accounts with capital one ! Absolutely love them ! No minimum required and no fees . Also you can open the account literally in less than 5 minutes .  

Answer 3

I have everything finally in one place with Cap One. Checking savings and a separate savings for my sinking funds. The only issue I am having is that cap one doesn’t “talk” to any of the financial apps. So if you use YNAB, digit, everydollar, etc cap one won’t work. They say it’s for security reasons and are trying to fix. But it’s left me without the ability to track anything digitally. So i am spending a bit more time tracking manually. They only other issue I had Is they held my money hostage when opening the accounts. It took forever to get them set up, verified, and have the funds available. I had to leave money in my other banks for 2 weeks to make sure bills were covered. All is fine now. I like having everything in one place. I am still “hiding” an EF in my credit union savings account!  

Answer 4

Ps. There is a bonus paid for opening accounts, having direct deposit and opening with a certain $ amount.  

Answer 5

My husband and I are considering a cap one savings account too! My question to those of you who have them- years ago I had one of their credit cards (opened in 2013 or 2014) but I couldn’t keep up with payments due to job loss. So the account was charged off. Balance was around $1, 018. I wanted to pay back what I owe but couldn’t afford it. Recently Credit Karma alerted me that it fell off of my credit report and I double checked my credit reports from all 3 bureaus and that was correct. Even though it has fallen off of my credit report and it is past the statute of limitations (4 years in CA) should I still be worried that if they allow us to open a savings- that they may potentially drain the account to collect what was owed?  

Comments

@moreau I had a similar issue when I opened my 360 savings. I called and spoke to a rep, he said they can’t take money out of your account unless you authorize them to.  

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@coit594 I see. It may not be anything to worry about since the statute of limitations here is 4 years and it is passed that. And it is no longer on my credit report. But since the credit account I referred to was a Capital One card, I was wondering if there’s an exception to all of that and if they would be able to drain the account if it’s a Capital one account? I hope I explained that well enough  

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@moreau my Capital One cards were recently charged off when I opened my Capital One savings and they can’t take money out of the savings to collect on the debt.  

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@coit594 That’s so reassuring to hear! My husband and I really wanted a checking & savings with them but I was so worried about that. I’m relieved and excited to start putting money into that savings account when we open it.  

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@moreau I wouldn’t worry about it. We had a charge off account with them a year ago and they let us have a car loan, credit card and checking and savings. When we did the charge off they even sent us a letter “warning” us that they may never let us have an account with them again. Lol

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@footrace97 LoL thanks for sharing! I’m glad it worked out for you guys and I’m so relieved that we can open a checking/savings with them. I really didn’t want this hanging over my head and I would have been so paranoid about them draining our accounts!  

Answer 6

The only issue I have is the amount of time it takes for the money to transfer between my regular bank and capital one and vice versa