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Capital One 360 Money Market Account Review


ConsumersAdvocate.org Rating: 4.6 / 5 (Excellent)
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Capital One Financial Corporation was founded in 1988, and is headquartered in McLean, Virginia. Capital One is among the list of largest banks in the United States by assets and is a Fortune 500 companies in the United States, Canada and United Kingdom. In addition to money market accounts, the company provides an array of financial products and services to consumers, small businesses, and commercial clients.
 
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How is Capital One rated?

Breakdown

4.8/5
APY Rates
4.5/5
Fees and Restrictions
4.5/5
Perks

Overall Rating: 4.6 / 5 (Excellent)

Capital One's 360 Money Market account is ideal for those who are looking to multiply their savings without worrying about keeping a minimum balance on their accounts. The company offers competitive APYs up to 1.85%, with no minimum balance required, and no monthly maintenance fees. Customers may open, fund, and track their money market accounts online, or on the company’s mobile app, which is highly convenient for those who are always on the go. Additionally, customers can open their accounts at one of Capital One’s physical branches, including their Capital One Cafés, which are designed to service customers while incorporating community events, and financial coaching for those who want a unique and fun banking experience, while having a fresh-brewed cup of Peet’s Coffee.

One drawback of Capital One's 360 Money Market account is that customers don’t have check-writing or debit card capabilities. However, if you’re looking for a unique banking experience and a flexible money market account without strict commitments and no monthly fees to help you achieve your savings goal, Capital One is definitely an option to consider.

Capital One Account Features

APY Rates - 4.8 / 5

The Capital One 360 Money Market account offers customers competitive APYs ranging from 0.85% APY for accounts with a balance under $10,000 and 1.85% APY for accounts with a balance of $10,000 and over. Capital One doesn’t require a minimum balance to open the 360 Money Market account, and customers are able to open the account online or at one of the company’s physical branches. Additionally, Capital One doesn’t charge customers monthly fees on money market accounts, which is great, since most companies reviewed by us may charge clients a monthly fee if their account’s balance drops below a certain amount.

Capital One allows customers to make deposits or withdrawals on one of the company’s physical branches, online, through the company’s mobile app, or by phone. Customers also have the option to open shared money market accounts as well as individual accounts, make transfers online, and set up an Automatic Savings Plan.

Although Capital One 360 Money Market account offers customer many benefits, one downside is that their money market account doesn’t have check-writing or debit card capabilities, which limits the customers’ accessibility to their funds.
APY (Annual Percentage Yield)
0.85% APY for accounts with a balance under $10,000; 1.85% APY for accounts with a balance of $10,000 and over.
Minimum Balance for Promotional APY
0 minimum balance for 0.85% APY; $10,000 minimum balance for 1.85% APY.
Minimum Balance to Avoid Monthly Fee
No minimum balance required.
Minimum Opening Deposit
$0
Check Writing
No
Debit Card
No
Physical Branches
Capital One has 840 branches to date, including 30 café style locations. Capital One Cafés are designed to attract a younger generation of customers, providing live assistance through video chat, social events, money coaching, and brand ambassadors to answer customer questions.
Integration with Other Online Accounts
Savings
External Banks
Scheduled Withdrawals to Savings
ATM Locations
Capital One has over 39,000 Capital One branded ATMs and AllPoint ATMs nationwide.
Methods of Deposits
Mobile Check Deposit
Physical Branch
Wire Transfer
Online Transfer

Capital One Fees and Penalties

Fees and Restrictions - 4.5 / 5

Capital One doesn’t charge monthly maintenance fees on the 360 Money Market account. However, customers are only allowed to make six transactions per cycle as permitted by Federal law. Additionally, it should be noted that higher account balances have a higher APY, so this is something to keep in mind when opening the account.
Monthly Fee
0
ATM Reimbursement
Reimbursement for International ATMs

Capital One Financial Strength and Reputation

Perks - 4.5 / 5

Capital One Financial Corporation has a mixed reputation overall. S&P, Moody’s, and BBB give it strong ratings of BBB+, A1, and A+, respectively. The company has a positive financial outlook, but many complaints have been filed against it with the CFPB and BBB, and only a small percentage have been resolved. Additionally, it has a low 3.6 rating on Trustpilot, with most customers complaining about unresolved disputes and poor customer service.
Year Founded
1988
Standard & Poor's Financial Rating
BBB+
Moody's Financial Rating
A1
Live Help 24/7
No
Customer Support Hours
8:00 AM - 11:00 PM ET, 7 days a week
Contact Methods
Phone
Social Media
BBB Rating
A+
BBB Total Complaints
4999
BBB Resolved Complaints
729
Trust Pilot Rating
3.6 out of 10
Consumer Financial Protection Board (CFPB) Complaints
29,997
Date Collected
2018-10-03

Company Profile

Full Name
Capital One 360 Money Market Account
Company Website
https://www.capitalone.com/
Headquarters
1680 Capital One Drive, McLean, VA, 22102

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Top Rated
  • Easy access to cash
  • Withdraw funds online, phone, or ATM
  • No minimum balance requirements or service fees
  • Check writing included
  • 24/7 banking
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