The Basics

What is a Kids Savings Account?

Our Kids Savings Account is a kid-friendly bank account that teaches kids how to save their money the safe and responsible way. And like 360 Savings, there are no fees, no minimums and the money is FDIC-insured.

What's the catch? There is none!

Kids Savings Account Terms & Conditions Opens a new window

How does a kid access their Kids Savings Account?

Kids can sign in to view their account(s) by entering their Customer Number/Saver ID (Username) and the Sign In PIN (Personal Identification Number) they created when opening their Kids Savings Account.

Forgot your Customer Number Opens a new window? Or your Sign In PIN?

What can kids do with the Kids Savings Account?

Kids will be able to:

  • Check their balance
  • Change their personal info (must be at least 13)
  • Change their PIN
  • Change their account nickname
  • Create a personalized 'Saver ID'
  • Download their account history, tax forms and eStatements

What can adults do?

In addition to everything a kid can do, the adult can sign in with their own Customer Number/Saver ID (Username) and Sign In PIN to transfer money, set up an Automatic Savings Plan (great for paying allowance) and manage account details.

How does a kid access money?

A kid can sign in and check their balance online 24/7. Transferring money requires a little help from the adult on the account. The adult must sign in using their Customer Number/Saver ID (Username) and PIN in order to move money.

Does the child have to be your child?

Absolutely not. Any adult (18 years or older) can open a Kids Savings Account with someone under the age of 18. It could be a niece, nephew, grandkid, any kid you want to help start saving.

What if the child forgets their Customer Number/Saver ID (Username)?

If the child has forgotten or lost their Customer Number/Saver ID (Username), use our Online Customer Number/Saver ID (Username) Retrieval Tool:

  1. Go to capitalone360.com and click 'View my Account'.
  2. Click on the 'Forgot your Customer Number/Saver ID (Username)?' link underneath the Customer Number/Saver ID (Username) field.
  3. Answer the security questions.
  4. If the questions are answered correctly, they'll be automatically taken to the sign in process.

What if the child forgets their Sign In PIN?

If the child has forgotten or lost their Sign In PIN, use our Online PIN Reset Tool:

  1. The child will sign in to capitalone360.com with their Customer Number/Saver ID (Username).
  2. Click on the 'Forgot your Sign In PIN' on the next page.
  3. They will confirm some personal information and choose to have a text message or email sent to the email address or mobile phone number we have on file with a temporary 'Sign In PIN Reset Code.' This expires after 2 hours if sent via email or 10 minutes by text, so be sure to complete this process when the child has access to their email or phone.
  4. Once they receive the reset code, just go back to capitalone360.com and enter the 'Sign In PIN Reset Code.'
  5. After selecting a new PIN between 6 and 10 digits in length, their PIN will be automatically updated after clicking 'Continue.'

Please Note: If we don’t have a valid mobile phone number on file, the child cannot use this tool to reset their PIN. The adult on the account must call 1-888-464-0727 to request a new PIN.

How can I close my account?

Follow these directions to close one of your Kids Savings Accounts – you’ll need to repeat the steps to close multiple accounts:

  1. Sign in to capitalone360.com with your Customer Number/Saver ID (Username) and PIN.
  2. Click on the account you want to close.
  3. Check to make sure you have no scheduled transactions or deposits on hold (including an Automatic Savings Plan).
  4. Click the 'Transfers & Deposits' tab.
  5. Enter the entire balance of the account as the amount you'd like to transfer.
  6. Select your savings account as the 'from' account and the account you’d like the money transferred to as the 'to' account.
  7. Click the 'Transfer' button and finally the 'Close Account' button.

Once you do this, your account will be closed. If you're consolidating funds into another Capital One 360 account, the transfer is immediate. If you're transferring the funds to your external linked checking, the funds will arrive in 2 business days.

How do I access my Kids Savings Account eStatements?

It's easy. The primary account holder will receive an email notification when the eStatement is ready with instructions on how to view it. Only the primary account holder is able to view the eStatement for the Kids Savings Account.

How do I change addresses or phone numbers for the kid?

It's quick and easy. If the child is under 13 give us a call at 1-800-464-3473 and an Associate will help you make the change.  If the child is over 13 just have them sign in to capitalone360.com with their Customer Number/Saver ID (Username) and Sign In PIN. Select the 'My Info' tab and update the necessary information.

Will the kid be able to see any other accounts I may have that they are not the joint account holder on?

No, the child can only see the accounts that they are the joint account holder on.  They will not be able to see any of your accounts that you don't have them named as a joint account holder.

What happens when the kid turns 18?

When the kid on your Kids Savings Account turns 18, the account will automatically convert to 360 Savings. We’ll send instructions to the new adult on how to set up a link so they can begin to contribute to their savings.

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:

  1. Sign in to capitalone360.com
  2. Click on the account you want to view
  3. Go to the ‘History’ section
  4. Use the drop down boxes to filter your transaction results and click on the ‘Search’ button

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:

  1. Visit www.irs.gov Opens a new window or call the IRS at 1-800-829-1040 to obtain a W-9 Form
  2. Fill out and send in the W-9 Form to advise us of your updated withholding status
    • Fax: 1-877-464-4963, ATTN: Operations Research
    • Mail: Capital One 360, ATTN: Operations Research, P.O. Box 60, St. Cloud, MN 56302.

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.

Please Note:

  • If your account(s) is jointly held and the joint holder needs to update their withholding status, they also need to follow the steps listed above.
  • To update backup withholding for a minor, a parent or guardian may sign their own name on the W-9 Form in place of the minor.
  • To update backup withholding for a Business Account, an Authorized Signer can complete and return the W-9 Form.

How do I request a Verification of Deposit (VOD)?

Requesting a Verification of Deposit (or VOD) is easy. Here’s how:

  1. Sign in to capitalone360.com
  2. Click on one of your accounts
  3. Go to the ‘Forms’ tab
  4. Under the "Verification of Deposit" section, click the ‘Verification of Deposit’ link to generate and print a form

You can select which accounts you want included. Keep in mind, your account must be open for at least 30 days to be included.

Is there a limit to the number of withdrawals kids can make from the Kids Savings Account?

Yes. Due to federal regulations, the Kids Savings Account has a limit of 6 withdrawals per calendar month. Withdrawals include transfers to your linked checking account or between other Capital One 360 accounts and external withdrawals. So, for example, if kids transfer money from one Kids Savings Account to another Kids Savings Account, 360 Savings, 360 Checking, etc., it still counts as 1 withdrawal. Keep in mind, the 6 withdrawal limit is per each Kids Savings Account. If kids exceed the limit multiple times, the account may be closed.

Can I use a Capital One Bank branch to service my Capital One 360 account(s)?

No, you can’t drop into a Capital One branch for help (the nice bankers won’t be able to pull up your account), but call us at 1-888-464-0727 from 8 AM to 8 PM and we can help you out.

Products and services offered by Capital One 360, a division of Capital One, N.A., Member FDIC.
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