Capital One 360 Review: The Best High Yield Savings & Checking Accounts?

[@IreneZGoodman]

My daughter had an ING account before she was born. Her college fund has been in her now Capital One 360 sincethey converted in 2012. She's now a senior in high school. They have terrific customer service.

[@allisbookishadventures8260]

I love capital one 360 checking and savings.

[@conniet9288]

I have used them for years too. I like being able to have multiple savings and use like envelope system. Their interest rate is good (not best rate for me but still very good)

[@BronxBombers_726]

Capital One does allow cash deposits at Walgreens and CVS Pharmacy. I've also used their Capital One Cafe in Atlanta, GA (Lenox Square) and in Scottsdale, AZ (Fashion SQ) Hopefully, they will add more cafes in more cities.

[@PenniesNotPerfection]

Great to know! I passed a capital one cafe on my vacation this summer and almost stopped just to experience it. I’m hoping they open more!

[@deehope6186]

I like capital one 360 opened one for my teen and just changed to th HYSA after the regular account grew. Helps teens save money...I think😊

[@PenniesNotPerfection]

That's great! Good job teaching saving early!

[@valg.3152]

I opened my account two days ago so far so good 😃

[@Lynndra80]

I was with ING direct also. If anyone else has an old converted account check your interest rate. The 360 act is the true HYSA account. The converted ones have lower interest rates. I didn't notice that till last year. I had to open a new account and transfer everything over.

[@PenniesNotPerfection]

Good point! I should have mentioned that. I didn’t like that they did that to long term customers, it felt sneaky having to open new accounts. Glad you noticed and thanks for reminding me about that!

[@Stscey]

Thank you. I just found out yesterday. I am going to do the same thing.

[@ThriftyAsian]

Love my 360 saving account! ❤

[@regayov]

I love them. I have several savings accounts dedicated to my month ahead and big sinking funds, like car, travel, pet, christmas/family. I also have my 5 year CD ladders.there and just started monthly CDs there too.

[@PenniesNotPerfection]

Love it!

[@natrelletyson]

Hello, so do I! But I have to ask, how do you manage not being able to instantly transfer the sinking funds back and forth to between your savings and your checking account?

[@regayov]

@natrelletyson I keep my sinking funds at a different bank than my checking account or emergency fund. That way, it takes about three days to transfer to my main accounts. Am able to pay off any related credit card charges immediately though from those funds.

[@beausbargarage6213]

Just started my 360 savings

[@PenniesNotPerfection]

Congrats!

[@StephsHealthMatters]

I used to have ING Direct, that was so long ago

[@PenniesNotPerfection]

It really was!!

[@jaymesturdivan3635]

Thank you for this information. I've been researching this account and your video is very informative and easy to understand. I do want to clarify; I'm making plans to travel out of the US and want to make sure I'm able to use this out of country. The site says that they don't charge foreign transaction fees, but you're saying that the atm in the other country may charge fees. So there are actually 2 separate fees at atms? Am I understanding that correctly???

[@tashawilliams8093]

I like the convience of this bank.

[@PenniesNotPerfection]

It’s been very convenient for us!

[@catgodfrey6451]

Thank you for sharing. I have both with Capital One 360 😊❤😊

[@PenniesNotPerfection]

Very nice!

[@jayocean4724]

Hey Mary would you recommend having 2 separate HYSA accounts

[@PenniesNotPerfection]

Depends on your goals! I like having separate accounts personally but doesn’t work for everyone.

[@valg.3152]

@@PenniesNotPerfection Mary im thinking of getting another HYSA im torn between Ally and WealthFront. Any recommendations?

[@heatherminton9873]

​​​@@valg.3152I'd like to know your opinion as well @PenniesNotPerfection

[@You-bb5wo]

In regards to how you can have separate savings accounts for different situations, does the interest rate apply to each separate savings or the entire amount of money you have in your saves altogether? I’m 18 and interested in opening a checking and savings with capital one, and maybe my first credit card

[@PenniesNotPerfection]

The interest is earned in each individual account. But the amount you earn in interest will be the same whether you have the money in 4 separate accounts or just 1 account. Definitely get in the habit of saving and be careful with your first credit card! Only charge what you can pay off!

[@You-bb5wo]

Thank you for the tips

[@robyn_southafrica]

Quick question out of curiosity, do those separate savings accounts have their own individual account numbers or do you have to deposit/transfer money into the main checking account then distribute the different amounts into the different/separate savings accounts??🙈

[@ResonatedReadings]

They all have different, individual account numbers. I have 7 different accounts with them and each has its own number.

[@robyn_southafrica]

@@ResonatedReadings thanks! That's actually so cool.. easy to transfer from other accounts if necessary 😃

[@PenniesNotPerfection]

They are individual accounts so they have their own numbers! It's nice because it's real accounts unlike some places that do sub accounts that are really just within the one account.

[@DjDJ-sd1un]

Would you reccommend it over Wealthfront?

[@PenniesNotPerfection]

Depends on your needs. I probably would since it’s an actual bank and Wealthfront is fintech so it’s not actually a bank itself and operating with a partner bank.

[@YasAli2024]

Thank you so much for all the information you provided. The only question I have, is there specific time for saving money to be in the account before earning the interest? Like if you put $1000, can Start earning interest and if I need the money a month later, I can withdraw? Or it has to stay in the account for certain period?

[@marcosylviat2832]

I have their HYSA and it earns interest monthly.

[@YasAli2024]

@@marcosylviat2832thank you for replying. Appreciate it.

[@PenniesNotPerfection]

You can start earning interest on your first dollar! Interest is only paid monthly so if you withdraw it early you would earn the interest for how long it was in the account but not the full month's amount.

[@YasAli2024]

@@PenniesNotPerfection i really appreciate it. Thank you so much for taking the time to reply.

[@natrelletyson]

I loved this for my digital saving system until I found out that you can’t transfer the money instantly between your external banking account (main checking account) and the capital one savings accounts. You have to wait 3 business days, and that’s not best for when it’s time to shop and the money I have put into categories for things like my groceries and other shopping expenses can’t be transferred instantly for use of my debit card. Capital one almost took the cake for me until they didn’t. Do you have any other suggestions for a savings account just like Capital One but it allows for instant transfers between the savings account and your bank?

[@PenniesNotPerfection]

Why wouldn’t you just use a Capital One checking account? The transfers between savings would be instant. Is there a reason you want an external account but plan to transfer money from savings often for regular expenses?

[@PenniesNotPerfection]

If you want instant transfers from savings the solution is going to be having savings and checking at the same institution (capital one or another).

[@paulprince906]

Do I have to have direct deposit setup to qualify for the hight rates and no fees?

[@PenniesNotPerfection]

Nope. You get the current rate no matter what and if you refer people you get a .5% boost for 3 months. No direct deposit required and no fees.

[@Lp2074]

Can you go to a branch and withdraw cash on those higher 4.25 percent rate accounts.

[@PenniesNotPerfection]

Sure it’s a savings account so it operates like any savings account where you can take money out.

[@redscorpion9325]

Do you get charged extra Sub Savings Account?

[@PenniesNotPerfection]

There is no extra charge to have multiple accounts.

[@rogerfarley3300]

Do you still use Wealthfront?

[@PenniesNotPerfection]

Yep!

[@PenniesNotPerfection]

I use multiple accounts.

[@rabitevil]

@@PenniesNotPerfectionfor high yield savings accounts?

[@J.woltz48]

I'm 55 and earn about $450k annually, only save 30% in HYSA's. I've been reading a lot of articles mentioning how worthless 'cash savings' are in this current unstable economy, thus my question - real estate, stocks or gold, which will be a better investment as of now?