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Transfers/Deposits

How do you add money to the account?

The adult on the account can deposit money any of the following ways:

  • Set up an Automatic Savings Plan – Have money deposited on a regular basis. Just choose how much you want to deposit into your account and how often. This is an effortless way to pay a kid's allowance.
  • Make a deposit electronically – Use the 'Transfers & Deposits' tab to make an electronic deposit from a linked checking account or other Capital One 360 account.
  • Deposit cash – Deposit the cash into your external linked checking account. Then go online and transfer the money over to the kid’s account by making a deposit electronically.
  • Deposit a check – Follow these simple steps to deposit a check:    
  1. Write your Account Number (you can find this on the 'My Accounts' page) on the check.
  2. Drop the check into an envelope.
  3. Mail the envelope to:

My Savings
Capital One 360
P.O. Box 60
St. Cloud, MN 56302-0060

How does the adult deposit any checks the kid may receive?

The adult on the account can deposit a check in just three easy steps:

  1. Make sure the check is made payable to the child or the adult on the account.
  2. Write the Kids Savings Account Number (you can find this on the 'My Accounts' page) anywhere on the check.
  3. Drop the check into an envelope and mail to:

My Savings
Capital One 360
P.O. Box 60
St. Cloud, MN 56302-0060

How can an adult not on the Kids Savings Account contribute money to the account?

Any adult can contribute money to the account the following ways:

  • Send a Person2Person Payment – If that adult has 360 Checking, they can send a Person2Person Payment right to the kid’s account just by using the Kids Savings Account number.
  • Deposit cash – Hand the cash over to the adult on the account so they can deposit it into their external linked checking account. Once that’s done, the adult can go online and transfer the money over to the kid’s account by making a deposit electronically.
  • Deposit a check – Give the kid or adult on the account the check so they can mail it in to be deposited. Or, mail the check in yourself by following these steps: 
  1. Make sure the check is made payable to the child or the adult on the account.
  2. Write the Kids Savings Account Number (you can get this from the kid or adult on the account) anywhere on the check.
  3. Drop the check into an envelope and mail to:

My Savings
Capital One 360
P.O. Box 60
St. Cloud, MN 56302-0060

Could any adult send a check made out to the child if they write down the Kids Savings Account number on it?

Sure.  The adult can mail a check to be deposited on the kid’s behalf by following these easy steps:

  1. Make sure the check is made payable to the child or the adult on the account.
  2. Write the Kids Savings Account Number (you can get this from the kid or adult on the account) anywhere on the check.
  3. Drop the check into an envelope and mail to:

My Savings
Capital One 360
P.O. Box 60
St. Cloud, MN 56302-0060

How do I get the child’s allowance money into the Kids Savings Account?

The easiest way is to set up an Automatic Savings Plan. You can also make a one-time electronic deposit any time by clicking on the 'Transfer Money' tab.

What is an Automatic Savings Plan and how do I set one up?

An Automatic Savings Plan is the easiest way for a child to reach their savings goals or to pay a child an allowance. You (the adult on the account) can set one up by following these steps:

  1. Sign in to capitalone360.com with your Customer Number/Saver ID (Username) and PIN.
  2. Click on the 'Automatic Savings Plan' tab.
  3. Choose the amount you want to save, how often you’d like it deposited and the start date.

How long does it take for a withdrawal from my Kids Savings Account to arrive in my linked account?

Electronic transfers between Capital One 360 accounts are instant. Electronic transfers between Capital One 360 and other banks are FREE and generally take 2 business days. Keep in mind, federal holidays are not considered business days.

Like most banks, when we electronically transfer money with another bank, the money goes through a secure network called the Automated Clearing House (ACH) system.

Every day we send all our transfer requests to the ACH. That system then pulls together all the daily requests they receive from thousands of banks and routes them to the appropriate receiving bank. And voila, we have a transfer.

View a brief demo Opens a new window to learn more about how these transfers work.

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