Does anyone save in a Capital One 360 account

13 Replies

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? 

I use capital one 360. It’s hard to beat the no fees that they have. Down the road, I’ll probably switch all my banking there. I use chase and capitalone right now but chase has so many fees

Capital One 360 is great and I park cash there. However they do have a fee for outgoing wire transfers. I thought I heard that CIT has comparable rates and no outgoing wire transfer fee but don't quote me on that.

@Caleb Heimsoth   @Logan Allec Thanks for the input I'm finally ready to make an offer on a house next week! I'm trying to make sure all my finances are in order. I wonder if they have a cap on the amount of money that can be transferred? I'm thinking I can keep my cash there until I need it and just transfer to a linked account. 

Hi @Gina Birdsong , I have used Capital One 360 for many years now (since it was still ING Direct), and I have closed on several properties by doing a wire transfer from my Cap One 360 Savings Account.  They do charge $30 for a wire transfer, and this process recently got a bit more complicated (you used to be able to just select Wire from a menu on the website, but for me it's been unavailable now - you have to call them to make it available, which is supposedly due to increased security).  But overall, I've been very happy with them.  As you said they just increased their Savings interest rate to 1.0 %, and I also just opened up a money market account with them (still provides the same liquidity, but requires a $10,000 balance) at 1.4%.

Hope it helps!


I just opened a Ally bank savings account few months ago at 1.25%. They regularly get voted best online bank. So far I like them a lot.

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!

@Gina Birdsong , check out Marcus / GS Bank. 1.50% liquid savings right now.

@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

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

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.

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here