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The Basics

What can teens do with MONEY?

Young adults under 18 will be able to:

  • Check their balance
  • Change their personal info (must be at least 13)
  • Receive a Debit MasterCard®
  • Change their PINs
  • Change their account nickname
  • Create a personalized ‘Saver ID’
  • Download their account history, tax forms and eStatements
  • Set up Direct Deposit
  • Set up and receive text alerts and email notifications about account activity

Young adults who are at least 18 will be able to do all of the above and transfer money.

What can adults do?

The adult can do everything a teen can do but won’t receive a debit card. 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 and manage account details. Adults will also have the option to set up text alerts and email notifications for card transactions and account activity.

What is MONEY?

MONEY is designed specifically to help teens save (and spend) their money in a responsible way. This account gives young Savers the independence to make purchases and manage their money, with a little guidance from their parents. MONEY comes with a Debit MasterCard® for the young adult and access to over 38,000 FREE Allpoint® ATMs.

MONEY Terms & Conditions Opens a new window

What can I do with my MONEY account?

MONEY allows parents to manage an account with their teen and show them the ropes on how to handle their expenses.

  • Teens – You’ll get a Debit MasterCard® so you can access your cash when you want it.
  • Parents - Monitor your teen’s spending habits and stop being a human ATM.

What are the eligibility requirements for MONEY?

  • It has to be a joint account
  • Both owners must be U.S. citizens or permanent residents with a valid Social Security number
  • One owner must be at least 18 years old

Can I have more than one MONEY?

If you’re the adult on the accounts, you can have up to 25 MONEY accounts with different young adults. If you’re the teen, you can only have one MONEY.

Is there any minimum balance to earn interest?

Nope, you earn interest no matter what. MONEY pays a variable annual percentage yield of 0.25% as of 10/5/2011.

What fees will I incur if I have MONEY?

Like you'd expect from Capital One 360, there are no fees for having MONEY. But we want to be up front, and let you know that there are two charges you could potentially incur for certain extra services.

  • Overnight Delivery of a Replacement Card. If you request to have a replacement MONEY Card sent to you via overnight courier, the cost is $25. There is no charge for standard delivery of a replacement card.
  • Foreign Transaction. If you use your Card for a foreign transaction (any transaction made in a foreign currency or that MasterCard® classifies as a cross-border transaction), we won't charge you anything. Please remember to notify us if you are traveling overseas.

Does MONEY come with checks?

No, MONEY doesn’t come with a checkbook option. However, you’ll be able to use your Card for purchases or to get cash.

Does MONEY come with Bill Pay?

No, this account doesn’t come with Bill Pay. But, if you’re at least 18 and need it, check out 360 Checking Opens a new window.

How do I set up Direct Deposit to my MONEY?

You can set up Direct Deposit one of three ways:

  • Give your Capital One 360 Account Number and our Routing Number, 031176110, to your employer or financial institution. Learn more on how to get a voided check.
  • PRINT our blank Direct Deposit form and fill in your information.
  • You can access our pre-filled Direct Deposit form online.
    1. Sign in to capitalone360.com with your Customer Number/Saver ID (Username) and PIN
    2. Click on your MONEY
    3. Click on the 'Forms' tab and select the 'pre-filled form' link

Remember, you can choose to have all or only a portion of your paycheck direct deposited.

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:

  1. Sign in to capitalone360.com with your Customer Number/Saver ID (Username) and PIN
  2. Click on your 360 Checking or MONEY account
  3. Click on the 'Forms' tab
  4. Click on the 'print one' link in the Voided Check section

Can I use my personal finance software to track my MONEY 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 MONEY and click on the ‘Download’ button.

Capital One 360 requires Customers to use Web Connect to download their Capital One 360 account information.

Please note: 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 Sign In PIN, so you keep your personal information safe and secure. Learn more about downloading transactions Opens a new window.

How do I make deposits into my MONEY?

If the young adult is at least 18, they can deposit money any of the ways below. If the young adult is under 18, then only the adult on the account can make a transfer electronically.

  • 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.
  • Make a deposit electronically:
    1. Sign in to capitalone360.com and use the ‘Transfers & Deposits’ tab to make an electronic deposit from a linked checking account or other Capital One 360 accounts.
    2. Sign in to our mobile website using your smartphone or download our mobile banking app (available for the iPhone, BlackBerry, or Android).
    3. Call our Interactive Phone Service – Available for 24/7 access at 1-888-464-7868
  • Deposit cash: Deposit the cash into your external linked checking account. Then go online and transfer the money over to the young adult’s account by making a deposit electronically.
  • Set up Direct Deposit: Provide your Capital One 360 Account Number and our Routing Number, 031176110, to your employer or financial institution. Learn more Opens a new window
  • Deposit checks via an ATM: Some of our ATMs accept check deposits. See if one is near you Opens a new window.
  • Mail a check for deposit: Send it to (and be sure to include your Account Number on the check):

Capital One 360
PO Box 60
St. Cloud, MN, 56302-0060

Can I set up an Automatic Savings Plan for my MONEY?

Yes. If the young adult is at least 18, they can set one up for themselves. Otherwise, you’ll need to set up their Automatic Savings Plan:

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

If you’d like to change or delete your Automatic Savings Plan, simply click the ‘Edit’ or ‘Delete’ button next to it. Remember to make changes more than one business day before the transfer is scheduled to occur.

How do I withdraw money from my MONEY?

If you’re the young adult on the account, you have a few options to get cash:

  • Use your MONEY Debit MasterCard® anywhere MasterCard is accepted. And if you’re in a hurry, skip the swipe and use PayPass(TM).
  • Access cash for FREE at over 38,000 Allpoint® ATMs; or get cash back when you make PIN-based purchases.
  • Do a cash advance from a participating local bank using your Card for up to $5,000 if you’re at least 18 or $500 if you’re under 18. Keep in mind, the local bank may have a lower withdrawal limit than Capital One 360 and may charge you for using this feature.
  • If you’re at least 18, transfer money to another Capital One 360 account or your linked checking account.

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.

How do I close my MONEY?

Please give us a call at 1-888-464-0727 if you'd like to close your MONEY. Associates are available from 8 AM to 8 PM, 7 days a week.

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.

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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