Capital One 360

[dpswift]

I have noticed that many of you use Capital One 360 accounts. I have been toying with the idea of getting my kids late teens early 20s with jobs to use them.

How easy are they to use?
Do you have to set up a monthly transfer or could they just transfer what they want every week or 2?

I would like firsthand info from users not from the website.

Thank you.

 

[amcnj]

I have a savings account with them that is linked to a checking account at a brick and mortar bank near me. Transfers between accounts is a simple process to set up and use, and I have never had any issues with it. You can just do one time transfers which you initiate for right now, or schedule for a later date. The options for a recurring transfer are weekly, bi-weekly, 15th and end of each month, or monthly. I have an automatic transfer into the account on the 15th and end of month.

Hope this helps!

 

[havaneselover]

I have noticed that many of you use Capital One 360 accounts. I have been toying with the idea of getting my kids late teens early 20s with jobs to use them. How easy are they to use? Do you have to set up a monthly transfer or could they just transfer what they want every week or 2? I would like firsthand info from users not from the website. Thank you.

We have 6 360 accounts. I have 2 and each of my kids have 2. They are linked and mine are also linked to my two brick and mortar checking accounts. Very happy with them.

Side note but they are also great for young adults traveling to Europe.

 

[elgerber]

I think I have 11 different accounts with them, for various savings goals. So easy to use, and I have never had any problems. Been with them for eons, since they were ING Direct, probably 8-9 years.

 

[stacieps]

we have a total of 5 accounts. Most recent (about a year ago) is DD16's "teen" checking (aka "Money"). It has been great. I have the option of transferring money from our local bank (or from our other accounts), or using the deposit option where you take a picture of the check - we used this for DD's last job and it worked great (I was nervous at first but we've done it many, many times now); DD's current job has direct deposit, so we have her pay put in her Money account.

 

[Riles_and_Gabe]

I am so glad you posted this topic. I was just thinking about opening an account with them today. I need to get my spending/saving under control and this seems like a great way to start.

One question I had, was what was the minimum you needed to open an account?

 

[havaneselover]

we have a total of 5 accounts. Most recent (about a year ago) is DD16's "teen" checking (aka "Money"). It has been great. I have the option of transferring money from our local bank (or from our other accounts), or using the deposit option where you take a picture of the check - we used this for DD's last job and it worked great (I was nervous at first but we've done it many, many times now); DD's current job has direct deposit, so we have her pay put in her Money account.

My 9 and 10 year old have Money accounts too. They're awesome. They also have savings accounts.

My BF opened a Money account for his 14 year old because he'll be in Europe this summer and C1 doesn't charge foreign transaction fees.

Around July 4th (I think) they usually offer bonuses for opening accounts so I'd hold out. I know I got almost $100 or so when I opened mine. And I got something for both kids' savings accounts.

 

[ellochka]

How easy are they to use?
Do you have to set up a monthly transfer or could they just transfer what they want every week or 2?

Thank you.

Any way you want. That's what I love about them. I am being paid every two weeks, and most of our bills are due once a month. So, I have a transfer set up to Capital One savings every two weeks, and from Savings to our bill-pay account once a month. It takes care of different pay structures. Also, many accounts like my Fidelity brokerage (i.e. general long term savings) don't allow you to transfer on a weekly or bi-weekly basis, but this one does.

 

[dpswift]

My 9 and 10 year old have Money accounts too. They're awesome. They also have savings accounts.

My BF opened a Money account for his 14 year old because he'll be in Europe this summer and C1 doesn't charge foreign transaction fees.

Around July 4th (I think) they usually offer bonuses for opening accounts so I'd hold out. I know I got almost $100 or so when I opened mine. And I got something for both kids' savings accounts.

Thank you for the tip

 

[dpswift]

Thank you everyone for your responses. I think I may wait a couple of weeks to see if they offer a special. But then I think that I will go ahead with it.

 

[havaneselover]

Thank you everyone for your responses. I think I may wait a couple of weeks to see if they offer a special. But then I think that I will go ahead with it.

http://www.maximizingmoney.com/bank...ale-on-friday-july-1st-and-saturday-july-2nd/

Here's a link showing what they will be offering this year. Starts 6/30.

 

[DopeyDame]

We started with them when they were Orange, then INGDirect, and now Capital 1 360. We've never had any problems. Transfers are easy and flexible.

 

[niclodn]

Not to hijack your thread, but for those of you who have kids accounts - did the kids get the bonus when you opened their accounts? I've had my accounts for years and would like to open up one for each of my nieces and nephews (they are the closest to kids I'll ever get). Since they are all under 18, I would be the primary adult on the account. Their parents are kinda deadbeats so don't want them to be able to access the accounts. Didn't know if I can do it in such a way so they can get the bonuses too. TIA!

 

[havaneselover]

Not to hijack your thread, but for those of you who have kids accounts - did the kids get the bonus when you opened their accounts? I've had my accounts for years and would like to open up one for each of my nieces and nephews (they are the closest to kids I'll ever get). Since they are all under 18, I would be the primary adult on the account. Their parents are kinda deadbeats so don't want them to be able to access the accounts. Didn't know if I can do it in such a way so they can get the bonuses too. TIA!

I got bonuses for my kids' accounts. I think for their savings accounts but not their money accounts but that could be because I opened the savings account first???

I believe I did theirs around Black Friday and it may have only been $25 or so. I'm not sure. I think it was when it was still ING.

 

[niclodn]

I got bonuses for my kids' accounts. I think for their savings accounts but not their money accounts but that could be because I opened the savings account first???

I believe I did theirs around Black Friday and it may have only been $25 or so. I'm not sure. I think it was when it was still ING.

Thanks! I will wait to see the the July 4th deals are before opening them up then

 

[ShelsGoingToDisney]

Darn! I just opened 2 of the Money "teen checking accounts" for my 14 and almost 12 year old last Sunday! They already have a savings account but having the debit card will be easier for them to spend their extra spending money they earn without me always having to go get cash. I never have cash so it is a real pain!

I have several of the savings accounts with them that I've had for years (Orange, ING, and now Capitol One). You can make deposits or transfers into the account as many times as you want in a month be you are limited to I think 5 transfers out of a savings account each month. If you want to move your money out more often then look into the checking account options as they have no withdrawal limits.

I have been very, very happy with their services. I really like the mobile deposit app they have now too. Love taking a picture of a check and depositing it. It's quicker then depositing it in my local checking account and then having to transfer it over!