Table Of Content
Opening a bank account is an excellent way of exploring different aspects of earning, saving, spending and planning for the future.
The process of opening a Capital One account is simple. You can open an account online in about five minutes using your driver’s license, Social Security card or passport. Other than the different forms of ID, you also need to provide proof of address when opening an account with Capital One.
What Documents Do You Need to Open an Account With Capital One?
There are different requirements to open different accounts in different banks.
At Capital One, if you open the account in person, you provide different forms of ID, such as;
- Social Security card
- Driver’s license
- Birth certificate
- Passport
Other than the different forms of ID, you will be required to provide proof of address using either:
- Lease documents
- Utility bill
- Mortgage statement
Alternatively, you can open a Capital One account online. You can do so by entering information such as your ID information, Social Security number and date of birth on Capital One’s application page.
If you are below 18 years, you can open an account if your legal guardian or parent is willing to be a co-owner of your account.
You can get an ID from your local Department of Motor Vehicle if you do not drive.
If you are not a U.S. citizen, you can open an account with Capital One using an Individual Taxpayer Identification Number (ITIN) and proof of identity.
How Much Do You Need to Open a Capital One Bank Account?
The minimum opening deposit for the checking accounts at the bank is $0.
Capital One is a full-service bank that offers different accounts, including checking and savings accounts.
Savings accounts at the bank, such as the performance and kids savings accounts, have no monthly balance requirements, maintenance fees and minimum opening deposit.
The bank’s Performance Savings account offers competitive yields on all balances making it suitable for all savers. Also, you can open and operate a checking account at Capital One. The checking account incurs no monthly maintenance fees and no minimum balance requirements.
Steps to Open a Capital One Checking Account
After gathering your identification information, open your favorite browser and go to the bank’s website.
1. Compare Account Option On Capital One Website
On the top left corner, hover your mouse over the ‘Checking & Savings’ tab, then click on view all checking accounts.
There are different checking accounts that you can choose from. It is best to choose an account that meets your financial needs.
For example, if you are looking for a checking account with no minimums and fees, you can open a 360-checking account.
2. Choose Account And Click on ‘Open Account
When you click on ‘open account’, you will be asked if you already have a Capital One login. Click on no and proceed to the next page, as shown below.
Click on ‘continue’ and enter your first and last legal names. Then click on continue to enter and confirm your email address.
3. Add Personal Details
After confirming your email address, click on continue to enter your phone number and then your home address.
4. Add Employment And Income
The next step is related to your financial situation. You'll need to provide basic details about your employment status, annual income, and job title.
5. Verify Identity And Approve T&C
The bank asks you to verify your identity by keying in your date of birth and Social Security Number, as shown below.
After verifying your identity, read through the terms and conditions and mark the boxes if you are okay with the conditions.
After clicking the ‘continue’ tab, choose your contact preferences, then continue to the tax certification step.
After certifying the tax certification statements, continue to the next stage and confirm whether the information you entered is correct.
How to Open a Joint Bank Account With Capital One?
A joint savings or checking account makes different aspects of money management easier. As a joint account holder, you have equal access and ownership of the account.
You can open a joint account online. In the process, you and the other joint account holder must verify your identities.
A joint account is similar to a regular account except that two or more individuals can share a joint account. The joint account holders do not necessarily have to be coupled.
Joint account holders can use the funds in a joint account to cover shared expenses and save more efficiently together.
After identifying an account that meets your financial needs, you and your joint account holder will need the following:
- Proof of address
- Social Security number
- Photo ID
- Other general information
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Which Capital One Checking Account Should You Open?
Capital One has different checking accounts with different features and perks that you can enjoy. For example, no fees or minimum balance requirements.
When it comes to Capital One checking accounts, there are different options that you can choose from. It would help if you explored all the options to select an ideal checking account.
Here are the Capital One checking accounts that you can choose from.
- 360 Checking Account
This account is ideal for you if you do not want to incur any fees to open and use the account. Also, it has no minimum balance requirements and is safe with FDIC insurance and fraud coverage.
The account gives 24/7 access to your money through mobile banking. Moreover, you can access more than 70,000 fee-free ATMs when you operate the account.
It is relevant to you if you are looking for an account where you can bank securely, move money easily, and incur no fees for overdraft options.
- Money Teen Checking Account
The account is the best for you if you are looking for a fee-free account for people aged 8+ years with a debit card. Also, the account has a top-rated mobile app
It is relevant if you want an account with no monthly service fees or minimum balance requirements.
Moreover, the checking account gives holders independence and peace of mind with alerts and card lock and unlock features.
The Money Teen checking account gives unique experiences through its mobile app, allowing teens to manage their finances and giving parents control and visibility.
Capital One Bank
Fees
Minimum Deposit
Current Promotion
APY Savings
Why Can’t I Open a Capital One Bank Account?
Opening a Capital One account is simple and can be done in minutes.
However, the bank might deny your request to open an account.
You cannot open a Capital One account if you include incorrect information or do not have the necessary ID requirements
Moreover, you cannot open a Capital One bank account because of the following.
- History of unpaid negative balances
- Suspected fraud. Fraudulent activities ruin your positive record and can make the bank deny your account opening request.
- Involuntary account closures
- History of too many overdrafts. Too many overdrafts may lead to the assumption that you are irresponsible, leading to the denial of your request to open an account.
What Can I Do if I Can’t Open a Capital One Account?
If you cannot open a Capital One account, it is important to identify why and act appropriately.
- Correct the Information: If the request was denied due to incorrect information, you could rectify the information before resubmitting the request.
- Get the Necessary Documentation: Besides, if the request was denied due to a lack of some ID requirements, you can gather the identification documents and information before resubmitting the application.
- Review Your Files: Capital One relies on other agencies for information, such as unpaid negative balances.
If your request to open an account is denied due to negative unpaid balances, you can review your file, pay off any unpaid balances, or dispute any errors.
After that, you can resubmit your request to open a Capital One account.
Factors to Consider When Opening a Capital One Checking Account
Different banks offer checking accounts that you can use for daily deposits and withdrawals.
There are different factors to consider when opening a checking account.
Below are the factors to consider when opening a Capital One checking account.
- Minimal Fees
When opening a Capital one checking account, you must consider the fees. The bank’s 360 checking account is a highly rated no-fee with numerous benefits.
Opening and operating a no-fee account helps you save fees that other banks charge.
Besides the minimal fees on the Capital One checking account, the bank does not charge for using an out-of-network ATM, but the ATM operator might charge.
- Convenience
Capital One checking accounts are convenient and guarantee easy access to your money. For example, the bank has more ATMs in more places, and you can move money easily.
Moreover, you can get paid some days sooner than payday in the bank's checking account.
The early paycheck feature ensures the safety of money deposits, and you get paid 48 hours sooner.
- Security
Capital One checking accounts are safe. The accounts are insured and protected against fraud.
The bank ensures your checking account is secure through a secure login, customized fraud alerts and enhanced transactions that keep you aware of suspicious transactions.
- High Deposit Rates
Capital One savings account and Capital One CDs products offer very competitive rates for savers.
When you open a checking account, you get an easy access to both.
Financial Institution | Savings APY | CD APY |
|---|---|---|
American Express
| 4.25% | Up to 4.25% |
Marcus
| 4.40% | 3.90% – 4.80% |
Capital One
| 4.25% | 3.90% – 4.50%
|
Discover Bank
| 4.25% | 2.00% – 5.10%
|
Quontic | 4.50% | 3.50% – 5.10% |
UFB Direct
| Up to 5.15% | / |
Ally Bank
| 4.20% | 3.75% – 4.90% |
TIAA Bank
| 5.05% | 3.65% – 4.70% |
- FDIC Insurance
Capital One is a member of FDIC, and it aims at providing excellent banking experience to help you manage your finances.
The Capital One checking accounts are insured by the FDIC to the standard maximum deposit insurance amount of $250,000.
Best Tips to Maximize Your Capital One Checking Account
Although some tips for getting the most out of your checking account are obvious, you may not be aware, which might prevent you from maximizing your account.
Here are the best tips to help you manage and get the most out of your Capital One checking account.
- Use Capital One ATMs: The bank has more than 70,000 ATMs in different locations across the country. The ATMs are fee-free, and you can avoid incurring ATM fees by only using Capital One’s ATM network.
- Use the Mobile App: You can maximize your account by downloading and registering on Capital One’s top-rated mobile app. The mobile app makes it easier for you to access your checking account anytime. Also, you can use the app to keep your checking account safe by locking and unlocking your debit card.
- Leverage High Deposit Rates: if you have emergency funds or any other savings plan, consider transferring it to one of Capital One deposit products.
- Use the Early Direct Deposit Feature: You can get the most out of your account by taking advantage of checking account features, for example, the early direct deposit feature. When you use the early direct deposit, you get your paycheck up to 2 days sooner.
Earlier payments ensure you pay your bills early and buy the things you need. Lastly, you will not have to worry about paychecks getting lost. The early direct deposit feature eliminates the stress of visiting the bank.
Top Savings Accounts From Our Partners
Quontic High Yield Savings
- 4.50% APY on savings
- Interest is compounded daily
- No Monthly Service Fees
CIT Savings Connect
- Up to 4.85% APY on savings
- No monthly service fees.
- Zelle, Samsung & Apple Pay
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.
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FAQs
Can a Non-US Citizen Open a Capital One Bank Account?
Yes, a non-US citizen can open an account at Capital One.
Given that non-US citizens do not have a Social Security number, the process of opening a Capital One is more complicated.
It is possible to open the account using an Individual Taxpayer Identification Number (ITIN) and proof of identity.
How to Open a Savings Account With Capital One?
You can open a savings account online or visit a bank’s branch in person.
You can set up a Capital One savings account online in less than five minutes.
After visiting the bank’s website, click on the checking & savings tab, click on ‘view all savings accounts’ and choose the account that meets your financial needs.
For example, you can choose to open a kid’s savings account if you are looking for a kid-friendly saving account.
How Long Does It Take to Open Capital One Bank Account?
The duration it takes to open a Capital One account depends on whether you do the process online or in person in one of the branches.
You can open a Capital One account online in approximately 5 minutes. The process is simple, and you can complete it right from your tablet, phone or computer.
Can I Open a Capital One Bank Account Without SSN?
Yes, you can open an account at Capital One without a Social Security Number (SSN). This is the case especially for non-US citizens who do not have Social Security numbers.
Therefore, if you do not have an SSN, Capital One allows you to open an account using a passport or Individual Taxpayer Identification Number (ITIN).
What Is the Minimum Balance for Capital One Checking Accounts?
Capital One checking accounts allows you to manage your money easily and quickly. For example, you can manage your finances easily using a 360-checking account.
The checking account has no minimum balance requirement and zero monthly fees.
Also, the MONEY Teen checking account has no monthly service fees or balance requirements.
How to Find Capital One Bank ATMs Near Me?
Using the bank's location finder, you can find Capital One ATMs near you. The finder can help you locate ATMs in nearby convenience stores, Target and CVS locations.
There are more than 70,000 Capital One ATMs, and you can choose the best place to withdraw cash near you.
How to Contact Capital One Customer Service?
There are different ways through which you can contact Capital One’s customer service.
The bank has a support system and a digital assistant to help with your inquiries.
You can call 1-877-383-4802 for live customer service support. Moreover, you can contact the bank by U.S. mail.
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Capital One vs Discover
Discover Bank is a full-service online bank as well as a provider of payment services. Discover can be used for banking and retirement planning by individuals. Discover is best known for its credit cards with rewards, but it also provides personal, student, and home equity loans.
Capital One began as a credit card company, but it has grown to offer a diverse range of traditional banking services over the years. In addition to credit cards, it offers checking and savings accounts, loan refinancing, auto finance, and children's accounts. As a result, Capital One is more appealing to those seeking a traditional banking experience.
Read Full Comparison: Discover vs Capital One: Which Bank Account Wins?
Capital One vs American Express
Capital One is a premium online banking service that offers convenient, dependable service and physical locations to anyone looking for them. Capitol One 360, in addition to providing a trustworthy and dependable service, has no hidden fees or minimums, allowing you to continue earning interest on your daily money. There are over 38,000 fee-free ATMs and over 2,000 Capital One ATMs to meet your money access needs.
American Express is one of the world's most well-known credit card brand names. Customers can get a personal banking solution from American Express National Bank, which offers online savings and CD options. Personal savings accounts have a high potential yield. American Express National Bank is a respectable, secure banking option that does not offer any extra features but does offer the most important one.
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CIT Bank offers a variety of savings accounts. Savings Connect has two tiers, with the first offering a higher rate if you make qualifying deposits and link your checking account. Savings Builder, on the other hand, offers 3.99 percent if you keep a balance of $25,000 or make monthly deposits of at least $100. There are no account maintenance fees, but you can only make six transactions per statement cycle.
Capital One offers a high yield savings account with a slightly lower rate than CIT Bank's top rate. However, you are not required to jump through any hoops. The account allows six withdrawals per calendar month, but there is no minimum deposit or balance requirement to keep your account open.
Read Full Comparison: CIT Bank vs Capital One: Which Bank Account Is Better?
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Chase and Capital One both have banking product lines that compete with traditional high street banks.
Capital One also has a competitive advantage in terms of checking accounts. The Capital One checking account is not only fee-free, but you can also earn interest on your account balance. Chase's checking account does not pay interest, and you must meet certain requirements to have the $12 monthly fee waived.
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Capital One vs Wells Fargo
Capital One began as a credit card company, but has expanded its line of banking products to rival a traditional bank. Aside from checking and savings accounts, you can also get loan refinancing, auto finance, and children's accounts.
Wells Fargo offers an even broader range of products. There are several checking accounts available, as well as two savings accounts and investment options such as IRAs and 401ks. You can also get loans and mortgages, as well as wealth management services. Wells Fargo is thus a highly comparable alternative to the traditional high street bank.
Read Full Comparison: Capital One vs Wells Fargo: Which Bank Wins?
Capital One vs Ally
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