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What is 360 Checking?
360 Checking is America's first all–electronic, paperless checking account. Earn a great rate, with online Bill Pay, easy access to cash, a 360 Checking MasterCard® Debit Card and more – it provides the access and convenience of checking with the earning power of savings. Check out our guide Opens a new window for a run down of all the great features.
What is an electronic checking account?
360 Checking is a checking account without the paper. You can do everything – pay bills, mail a paper check, make a secure deposit directly into someone's account, transfer money – securely online at capitalone360.com. And with your 360 Checking Debit Card, you can access cash at ATMs worldwide or make purchases anywhere MasterCard® is accepted. You'll even receive all communications from us electronically.
After my 360 Checking is opened, will I receive paper checks to write?
You won't automatically receive checks to write, but you can order your first checkbook of 50 checks for free. After that, a checkbook will cost $5.00. If you prefer to pay electronically, you'll still be able to make payments online or use your debit card for purchases.
How do I set up Direct Deposit to my 360 Checking?
You can set up Direct Deposit one of three ways:
You can access our pre-filled Direct Deposit form online.
Remember, you can choose to have all or only a portion of your paycheck direct deposited.
What are the eligibility requirements for 360 Checking?
First, you just need to meet a few basic requirements:
In addition, during the account opening process, we may check a few consumer reporting agencies to gather some of your info. If we do, you may or may not be approved for 360 Checking based on that info.
How many 360 Checking accounts can I have?
Customers can have up to three 360 Checking accounts.
Can I use my personal finance software to track my 360 Checking transactions?
Sure. Downloading your financial transactions to your personal finance software, like Quicken®, Money® or CSV downloads works the same way it does for our other accounts. To download your transactions, click on your 360 Checking and click on the ‘Download’ link.
Capital One 360 requires Customers to use Web Connect to download their Capital One 360 account information. And depending on the software or program you’re using, you may need an Access Code in order to pull your Capital One 360 information into the tool. The Access Code is used in place of your Password/Sign In PIN, so you keep your personal information safe and secure. Learn more about downloading transactions.
How do I get a voided check?
If you have a 360 Checking or MONEY account you can print a voided check directly on our website. To get a voided check:
Now that I'm applying for 360 Checking, do I need to close my checking account at my other bank?
You don’t have to keep your external checking account. To learn more about 360 Checking and get some helpful tips on switching checking accounts, check out our guide Opens a new window.
Is there any minimum balance I need in order to earn the interest rate?
You earn interest no matter what. If your balance is $49,999.99 or less, you earn an annual percentage yield of . If your balance is between $50,000-$99,999.99, your entire balance earns APY; and if your balance is $100,000 or more you will earn APY on your entire balance! (Rates variable, as of ).
How is my 360 Checking interest rate determined?
Your interest rate is determined by the balance in your account at the end of each day (12 AM ET). The rate is variable and may change from day to day if your account balance moves above or below the balance thresholds for each interest rate listed above.
What fees are associated with 360 Checking?
Like you'd expect from Capital One 360, there are no fees for having your account. But we want to be up front, and let you know that there are five charges you could potentially incur for certain extra services.
Here's one fee you won't get charged for.
How do I close my 360 Checking?
Please give us a call at 1-888-464-0727 if you'd like to close your 360 Checking. Associates are available from 8 AM to 8 PM, 7 days a week.
Can I set up an Automatic Savings Plan for my 360 Checking?
Yes. To set up an Automatic Savings Plan:
If you’d like to change or delete your Automatic Savings Plan, simply click on your plan and select the 'Change' or 'Delete' button. Remember to make changes more than one business day before the transfer is scheduled to occur.
Are there any transaction limits on 360 Checking?
Yes. The transaction limit depends on how you’re making the payment.
How do I make deposits into my 360 Checking?
You can make deposits into your 360 Checking from another Capital One 360 account, linked checking account, or one of the following ways:
How do I withdraw money from my 360 Checking?
You have several options:
Is there a limit on the number of transactions (deposits or withdrawals) I can do in a month?
No. You can do as many transactions as you like (unlike 360 Savings, which as part of federal regulations has a limit of 6 withdrawals per month).
What is an electronic transfer?
All funds transferred to and from Capital One 360 are done electronically via 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.
These transfers are free and typically take 2 business days to complete. View a demo Opens a new window to learn more about electronic transfers.
Is there a limit to the number of accounts I can have with Capital One 360?
Yes. There is a limit to how many accounts each Customer can have (don’t worry, we doubt you’ll even get close to it) with Capital One 360. You could be either a primary or joint account holder on a specific account and it would still count as one account. Here’s how it breaks down:
Please note: IRA Savings and IRA CD accounts are not included in the total number of 360 Savings and/or CDs you can have.
How do I view specific types of transactions in my account?
If you’re looking to view specific type of transactions in your account, here’s how:
What is backup withholding?
Backup withholding is when someone makes certain payments to you and you must withhold and pay 28% of those payments to the IRS. Payments that may be subject to backup withholding include, but are not limited to, interest, dividends and broker and barter exchange transactions.
If you provide your correct Social Security Number, make proper certifications and report all your taxable interest and dividends on your tax return, payments you receive should not be subject to backup withholding.
How do I update my backup withholding status?
Updating your backup withholding status is easy. Just follow these steps:
Your backup withholding status will be updated the day we receive the W-9 Form and funds will/won't be withheld beginning that month.
How do I request a Verification of Deposit (VOD)?
Requesting a Verification of Deposit (or VOD) is easy. Here’s how:
You can select which accounts you want included. Keep in mind, your account must be open for at least 30 days to be included.
Can I use a Capital One Bank location to service my Capital One 360 account(s)?
Yes, Capital One associates can help with limited servicing needs such as disputing a transaction, changing contact information, printing tax statements, and some debit card related servicing as well. If we can't help you out at one of our locations, we'll be happy to get you connected to our Capital One 360 associates to assist you.
Why aren't maps available for all of my transactions?
Maps are only available for certain transactions for which the exact location can be determined. They will never be available for Bill Pay, ACH, and ATM transactions. Maps will be available for many of your debit card transactions, however the exact location may not be able to be determined for all debit card transactions.
What is FATCA reporting?
FATCA (Foreign Account Tax Compliance Act) reporting applies to accounts held with foreign financial institutions. Since Capital One 360 is a U.S. institution, our US Customers are not subject to FATCA reporting. However, the IRS still requires you to certify that you are not subject to this reporting.
Can I transfer money between my Capital One 360 and Capital One accounts?
You can transfer money between Capital One 360 and Capital One by linking accounts, just as you do with other accounts. Transactions usually take 2 business days to be completed. Learn more Opens a new window about moving your money.
What does "default" 360 Checking account mean?
Your default 360 Checking account is the one from which all debit card transactions will originate. This includes withdrawals and deposits at an ATM, and point of sale (POS) transactions.
How do I change which 360 Checking is my default account?
You can change your default account online by navigating to the Debit Card Tab above your Account Summary or by clicking the Debit Card image next to your 360 Checking account. From the Debit Card tab, you have the ability to easily change your default account by clicking the “Set as Default for Spending” button for that particular account.
How do I see which 360 Checking account is my default account?
Your Default 360 Checking account will have a debit card image next to it on the Account Summary page. Additionally, the Debit Card tab displays “Current Default Account for Spending” for the default account.
Do I have to change my direct deposit?
Your existing direct deposit will remain connected to the account and routing number you previously set. Your direct deposit will not change if you decide to change which account to set as your default checking account for spending.
Do I have to change my Bill Pay?
Nothing will change in terms of payments you already have set up through Bill Pay. Going forward, when you set up a Bill Pay, you will select which 360 Checking account the bill will be paid from. If you decide to update your default checking account for debit card transactions, your bill payments will not switch accounts.
Which transactions are affected by switching default 360 Checking accounts?
Debit card transactions are the only transactions that are affected by switching your default checking account. These include ATM withdrawals and deposits along with point of sale (POS) transactions, whether you choose debit or credit at the POS.
Can I order a second debit card?
Not yet. As of right now, you will manage your 360 Checking accounts from one debit card.
Can I link my 360 Savings account to my debit card?
Your debit card can only be used to access your 360 Checking accounts, however, you can just as easily transfer money from your 360 Savings to your 360 Checking account and use it how you wish.
What happens if I set up automatic debit through another company?
When a third party company is completing a payment with your debit card information, the payment will be deducted from the 360 Checking account that is set as your default account at the time of the payment. Similarily, if a return is being credited to your debit card, it will be added to the balance of your default 360 Checking account at the time of the credit.
Can I use my debit card to access my 360 Savings account?
No, your debt card can only be used to access your 360 Checking accounts. However, you can easily transfer money from your 360 Savings accounts to your 360 Checking Account and use it how you wish.