Capital One Bank: Complete Review

Capital One Bank: Complete Review

Capital One Bank is a United States bank holding company headquartered in McLean, Virginia. This bank is well known in the country and mainly offers savings accounts, credit cards, and bank loans. It has more than 700 branches and is one of the largest financial institutions in the United States. Its good reputation is due, in part, to being one of the pioneer companies in the marketing of credit cards.

It offers its services in the United States, so if you live in Spain or a South American country such as Mexico, Colombia, Chile, or Peru, you will not be able to open an account with them.

However, if you are from the United States or live there, you will be able to open an account with them. These are the documents you need to open an account at Capital One Bank:

  • An identification document includes a driver’s license, social security card, passport, or birth certificate.
  • Proof of residence: water, electricity, or a similar bill, mortgage certificate, or rental agreement. 

You can open a bank account both in person from a branch and online. Please note that if you reside in the United States but are not from there, you must provide your tax identification number.

What do Capital One Bank customers say?

Opinions of Capital One Bank clients are very mixed. On the one hand, there are online reviews that only talk about positive things about this bank, which does not seem very realistic to us because all banks have pros and cons. You can read very negative comments about Capital One Bank in some portals.

After reading all the comments, here are the positives and negatives that we think best describe the services and quality of Capital One Bank.

what do you like

  • Trust services.
  • Banking entity with history and reputation.

what not like

  • Inefficient customer service.
  • High commissions.
  • Improved website.

What other options are there? Alternatives

Live in Spain, Mexico, Colombia, or any other country that is not the United States. You will be happy to know that you have alternatives to Capital One Bank that offer many more advantages and services that are well-reviewed by their clients.

We think one of those alternatives the best is the Wise multi-currency account. Below, you can see the main advantages offered by this account:

  • Market exchange rate for your banking operations.
  • Low commissions or no commissions
  • Bank details of the United Kingdom and the European Union, among others.
  • You can store and convert up to 54 currencies.

Advantages

  1. Flexible Interest Payments on CDs. Some banks don’t let you choose when your CDs lose interest. Capital One 360 ​​does. You can receive interest payments monthly, annually, or once a quarter. If you accept payments annually or once per term, that interest stays in your account longer and therefore has more time to accumulate. Also, remember that CDs canceled early do include early withdrawal fees.
  2. Around 40,000 fee-free ATMs . Capital One has about 2,000 branded ATMs and 38,000 “Allpoint” ATMs in its national network, offering free withdrawals, deposits, and balance checks. However, international ATMs may charge fees.
  3. New Solutions for Small Businesses. Capital One 360 ​​makes a concerted effort to attract small businesses. Like their consumer-facing counterparts, their business savings accounts and certificates of deposit offer variable-rate interest payments and no maintenance fees. All commercial products offer independent and secure access for three interested parties. According to its website, 360’s trading instruments are helpful for “sole proprietorships, partnerships, limited liability companies (LLCs), corporations, nonprofits, and small organizations.” This implies that larger organizations may wish to look elsewhere.
By Master James

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