Does anyone save in a Capital One 360 account

Question

Hello everyone

I have been saving in a Capital one 360 account that yields 1.0 APY  I opened a business checking and saving account at a local bank that I would like to build a relationship with for investing. I cannot believe the different types of fees. It seems like they penalize you for everything. Should I keep the money I have saved for down payments in the Capital One account and just move it when I need it or am I focusing on the pennies instead of the dollars?

Account Closed · Answer

@Gina Birdsong - just a tip, Capital One has an FDIC insured money market account that pays 1.40% vs 1.0% in the savings account. Only difference is you are limited to 6 withdrawals per month (which I never come close to).

I realize this isn't big numbers in the grand scheme of things, but picking up an extra 0.40% for free is something I will gladly take

Alexander Felice · Answer

When they bought ING they were great, had it for years, the service has gotten worse though and the rates have lagged so I left them about 3 years ago for Ally and now I'm REALLY happy. they also pay 1.35% currently and are very proactive about moving up rates quickly and often as possible to stay competitive.

Russell Brazil · Answer

I use capital one....but they are also local to me with branches every where.

Gina Birdsong · Answer

@Mark S. Will do! Thank You

Gina Birdsong · Answer

Thank you @Jim MacBean I have my first rental property under contract. My plan is to transfer the funds to my local bank account a week before closing. Hoping I do not have any hiccups!

Jay Thomas · Answer

Capital One 360 is a horrible checking account for a real estate investors with multiple properties with multiple checking account. They would only issue 1 debit card per person regardless of how many checking accounts you have. If you have multiple properties with separate bank accounts, you only get get 1 debit card. That means only one of your multiple account can be link to the debit card at a time. You have to go to their website to re-assign card/checking account.

Gina Birdsong · Answer

Account Closed absolutely! Thank You

Gina Birdsong · Answer

Thanks @Tj M. I'll have to look into Ally bank

Does anyone save in a Capital One 360 account

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