Capital One 360 Bank Review | Worth It In 2022?

Capital One 360 Bank Review | Worth It In 2022?

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Obviously we mainly focus on modern financial technology companies on this channel but I like to give credit where credit is due end of all of the crappy national banks that are out there, capital one is definitely my favorite. But the question still stands, is it able to compete with those modern fin tech companies like Chime and SoFi and therefore is it worth it in 2022.

In terms of banking Capital One has their separate 360 checking and 360 performance savings accounts as well as some other unique account options that will get to later in the video. With the checking and savings account there are no fees across-the-board meaning no monthly fees, no minimum balance requirements, and none of that garbage. You also have access to their network of 70,000 free to use ATMs which not only beats out similar competition like Chase who only has 16,000 ATMs but even beats out the modern ATM networks like Allpoint which currently stands at 55,000 participating locations and they’re able to do that by combining the money pass and all point ATMs as well as a number of no fee capital One ATMs at locations like target, Walgreens, and several others.

You also have the ability to get paid up to two days early, you can deposit cash in-stores at select CVS locations, easily move money between accounts including paying your bills and sending money to others with their Zelle partnership and in general have a lot of those modern banking features that other national banks just do not offer. On the savings side of things again they have no fees and right now they’re offering a whopping 1.5% APY on your savings account which is absolutely insane for a national bank. Right now capital one offers a one-year cd at a 2.25% APY meaning you would set your money away for one year and earn 2.25% and it goes all the way up to a five-year CD offering 3.2% each year.

If you absolutely have to have a physical brick-and-mortar bank that you can go into then that is going to remove a majority of the modern financial technology companies like SoFi or chime. In that case you’re left with just the national banks of which capital one is definitely the best in my opinion. However, if you’re OK with a hybrid banking experience but you’re not ready to fully jump into an online-only bank, then once again capital one would probably be the best choice and the app itself is not going to have quite as large of a learning curve if you were coming from an older national bank.

0:00-Is Capital One Worth it in 2022?
0:49-Checking and Savings Features
2:43-CORE Features
4:32-Certificates of Deposit
6:50-Capital One vs. SoFi
7:40-Which is Right for YOU?

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