Capital One 360 Performance Savings Account

Capital One 360 Performance Savings Account Review

Capital One 360 Performance Savings Account is offered by Capital One, a bank founded in 1933 and based in McLean, VA. Capital One 360 Performance Savings Account are available in 50 states (and Washington, DC).

Key Takeaways

• Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 3.30%, which is much higher than the average interest rate for a savings account.
• $0 monthly fee. This account does not charge any monthly account fees.
• No minimum initial deposit. There is no minimum balance required to open an account online.
• No ATM fees. Capital One 360 Performance Savings Account does not charge fees on ATM transactions.
• ATM fee rebates. This account will reimburse you for ATM fees (see terms and conditions for details).

Capital One savings account Pros & Cons

Pros	Cons
Available in all 50 states. High variable APY. Access to physical branches. No charge on incoming domestic or international wire transfers.	No signup bonus. Does not come with a debit card Higher than average wire transfer fees.

Capital One savings account FAQ

Are savings accounts from Capital One federally insured?

Yes, your deposits are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

Does Capital One offer a signup bonus?

Capital One savings account doesn't offer a signup bonus.

What is the minimum initial deposit for Capital One savings account?

There is no minimum deposit to open a Capital One savings account.

Capital One 360 Performance Savings Account Minimums

Description
Minimum Balance to Avoid Monthly Fee	Starting at $0
Minimum Opening Deposit	Starting at $0
Minimum Required Balance	$0

What APY does Capital One 360 Performance Savings Account offer?

Capital One savings account offers an APY of 3.30% (APY stands for annual percentage yield, rates may change). This is higher than the typical APY for online-only savings accounts, which is around 1% APY.

The interest rate on a savings account or checking account can change based, in part, on what the Federal Reserve does. Note that the APY of a savings account is the amount of interest you will earn if you keep your money in the account for a full year expressed as a percentage. The difference between an APY and an interest rate is that the APY takes into account how often your money earns interest (or compounds). The more often your money compounds, the more it will earn. Savings accounts with an interest rate that compounds daily, for example, will earn a higher return (and therefore a higher APY) than savings accounts that compound annually.

What fees does Capital One savings account charge?

Capital One savings account does not charge a monthly service fee. See the fee breakdown section below to view all fees.

• Outgoing domestic bank transfers come with a $30 fee.
• Capital One savings account charges $5 every time you request a paper statement.

What features and perks does Capital One savings account offer?

This savings account includes the following features:

• ATM reimbursement - This account provides ATM access and will reimburse you for the ATM fees charged by other networks.
• Fraud monitoring - Capital One savings account monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location, or you make a sudden string of costly purchases.
• Mobile Banking Services - Capital One savings account allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.
• Nationwide ATM network - Conveniently transact at a nearby ATM.

Can you set up a direct deposit to Capital One savings account?

Yes, you can typically set up a direct deposit to this account. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.

What is the customer support email for Capital One savings account?

The customer support email for Capital One savings account is support@capitalone.com.

How do people rate the customer service and user experience of Capital One savings account?

Overall, Capital One savings account is strongly recommended based on community reviews that rate customer service and user experience.