A shout out for Capital One 360 Checking and Savings

[Patient957]

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@ptatohed wrote:

Right now I have money at:

Primis (checking, 5.07%), Popular Direct (savings, 5.01%), upgrade (savings, 5.02%), LendingClub Bank (savings, 5.05%).   

Still have some money at Sallie Mae at 4.55% (MMA) that I need to get out of there.  But I also have some CDs locked in at 5.40%.  Wish I bought more.  

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Thank you.  Will check those out.

[Thorin809]

If you need checking, I'd recommend looking at Discover.  Essentially the same APY for Savings (4.20% instead of C1's 4.25%), but the big benefit is they have a money market account (with debit card access and checkwriting) at 4% APY.  That blows C1's 0.10% APY checking account out of the water.

[Varsity_Lu]

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@Thorin809 wrote:

If you need checking, I'd recommend looking at Discover.  Essentially the same APY for Savings (4.20% instead of C1's 4.25%), but the big benefit is they have a money market account (with debit card access and checkwriting) at 4% APY.  That blows C1's 0.10% APY checking account out of the water.

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Something to consider: Capital One 360 checking has a huge atm network (both Allpoint and MoneyPass ATMs) and it is one of the few cards that can be used abroad without additional fees.  I am a big Rick Steves fan and the two debit cards that he recommends for travel are Cap One and Charles Schwab.  Also, I leave my 360 checking account at $0 and all my cash in the Cap One HYSA.  If I need cash, I use my phone to instantly transfer prior to using the ATM.  This is actualy a better scenario than leaving money in a 4% MM. Just some food for thought.

[FicoMike0]

You can also get ~5% with fidelity, if you pick the right 'sweep' fund. They are not a bank and you may not get fdic insurance, depending on the sweep.

[FicoMike0]

I just got a mailer from amex (so 20th century), they're pushing 4.25% savings. They only pay 1% on their checking, but you can move $ back and forth instantly.

[Varsity_Lu]

@FicoMike0 

I got the same mailer yesterday and looked into it. It's basically a carbon copy (very 20th century) to the Cap One 360 set up. AmEx even uses the same ATM networks that Cap One does. Same rate, same fee structure. Idenical. 

I'd still choose Cap One simply because it's on the Mastercard network and would be more reliable in Europe. And the Cap One app is waaaay better than AmEx.

[MikeB4]

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@Varsity_Lu wrote:

@LADave 

I know your post is a few years old, but I want to add my love for Capital One as well.  I have several 360 Preformance high-yield savings accounts and they are awesome.  Right now they are paying 4.25%. No fees, no minimums.  I paired that with a 360 checking to get the debit card.  That is an unbeatable pairing.  They are part of  the Money Pass and All Point network ATMs which are all over the place.  And you can use CVS and Walgreens for deposits.  No fees for using ATMs overseas, either.  Most travel sites recommend either the 360 debit card or the Charles Scwab debit card for traveling in Europe. 

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I had my account back when it was ING Direct and it got rolled into the 360 checking but I saw here about the preformance high yield and I just switched over to that.. I don't know if I will ever use it more since I bank with Chase.

[GhostCredit]

Dang u was so stupid I opened up a 360 without a bonus... then closed it but it looks like I won't be eligible with their terms of "after January 1, 2022, you will be ineligible for the bonus. " they seem strict. And wow that's crazy they're also have no ftf for their debit card.

[LADave]

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@GhostCredit wrote:

Dang u was so stupid I opened up a 360 without a bonus... then closed it but it looks like I won't be eligible with their terms of "after January 1, 2022, you will be ineligible for the bonus. " they seem strict. And wow that's crazy they're also have no ftf for their debit card.

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Having that kind of cutoff isn't unusual. Banks don't want people to cancel accounts just to sign up again for the same kind of account to get the bonus. (Wells Faro let me get a checking SUB a few months after I cancelled an account, but I think they're an outlier.)

Keep the account closed, and before you know it you'll be eligible to get another C1 checking bonus.