Having a Capital One 360 Checking Account opens a lot of benefits to the lucky owner. Despite its annoying ads everywhere, Capital One is really good. The bank combines all the benefits of big banks and online only banks. I am not talking about standard features like Mobile Check Deposit, Zelle, Bill Pay, 360 Performance Saving account with 0.8% APY, earning small interest on your checking account balance. The most valuable benefits are the following.
Huge network of ATM’s
Capital One has its own ATMs where you can deposit and withdraw cash. However, Capital One Debit Card allows you to take money from more than 70,000 fee free ATMs that are part of MoneyPass and Allpoint ATM networks. You can find these ATMs in stores like Target, Walgreens, and CVS. These ATMs are good for withdrawing cash. Next, read about free cash deposits.
Free cash deposits at CVS is a valuable benefit of Capital One 360 account
Capital One has its own ATMs, where you can deposit and withdraw cash. Number of these ATMs is limited. How can you put cash into your 360 checking account?
Little known benefit of the Capital One 360 account is free cash deposits at CVS Pharmacy. Many other online-only banks like Current Bank, Spruce by HR Block allow you to deposit cash at CVS Pharmacy, Walgreens, 7-Eleven and other retail stores. But you have to pay a fee, which is high and you are limited to $500 per deposit.
Making the deposit at CVS with Capital One is simple. Take your Capital One Mobile phone and go to the store. Open the Capital One mobile app and generate the barcode to deposit. Barcode expires within 30 minutes, so you want to have everything ready before you generate the code. Let the cashier scan the code and give money. Funds should be available on your balance in a moment.
Easy approval for Capital One Credit Cards like Quicksilver
Originally I wanted to get a Capital One credit card with a signup bonus. Capital One was not able to approve me instantly and requested additional information about my income. The procedure for sending proof of income felt long and complicated, so I abandoned the idea. After some time I opened the Capital One 360 checking account. Surprisingly I got an offer to apply for a Capital One Quicksilver credit card and this time approval was instant. So if you want to increase chances of being approved for a Capital One credit card, you can start with their checking account.
Unlimited Virtual Credit Cards with Capital One account
Once you get the credit card, you will find another benefit. Capital One has one super cool feature that you cannot find at big banks. The feature is called Virtual Credit Card. It helps you to prevent your credit card from being stolen after online purchase. When you need to make a purchase, you use Capital One Browser extension that generates a virtual credit card number, expiration date, CVV on the fly. Then you can make a purchase online just like with a regular credit card. After you made the purchase you can delete the card number.
Accounts for kids
If you have a child that is old enough to have their own debit card, you can open a Money Teen Checking account that earns 0.1% APY. Your child will get a Debit Card. What is even cooler is that you can open a Kids Savings Account with 0.3% APY. It is a high yield savings account that pays interest every month. That is definitely something to brag about.
Less know benefit is Capital One Creditwise that helps to track your credit score.
Overall, Capital One is my favorite bank because it has everything you could possible need under the same account.