Open a Fee-Free Checking Account and Savings Account

November 27, 2014 16 Comments | Disclosure

Open a Capital One 360 savings account :

  • this is your first 360 savings account (including Orange Savings  Accounts)
  • initial deposit into this savings account needs to be $1000 or more
  • (I like the savings because you can set up automatic transfers to help you save $$!)

Why Capital One 360 is an Awesome Way to Bank:

  • No overdraft fees (you are only charged interest on your negative balance)
  • No monthly fees
  • 38,000 Free Allpoint™ ATMs
  • Make your deposits using your smart phone or a scanner and your computer!  No driving to the bank and waiting in lines! I LOVE THIS!
  • Pay no fees to make your deposits via your smart phone or scanner!

Why I Love My Capital One 360 Checking

Two years ago I opened my own personal checking account to budget for Christmas Gift Giving.  I’ve been using it ever since and it has now become the account where all the grocery money, gas (for my car) money, and other misc things I need.  I love segmenting our budget by accounts.  But there are even more reasons to love this checking account.

  1. I love that instead of driving to the bank to make a deposit, I can use the app on my phone to make deposits (just by snapping a picture of the check!).  It seriously only takes 2 minutes!
  2. I love that there are NO overdraft fee’s!  You just pay interest for the money you borrow.  Say GOODBYE to $35 overdraft fee’s!
  3. I can also connect my other checking accounts to it for super easy transfers.
  4. It’s TOTALLY FREE checking!!!!  No annoying monthly fee’s!


Feeling unsure about it?

This is a reputable company that I can personally vouch for.  I love that there are THOUSANDS of FREE ATM’s!  Locally I can find them in Costco, Walgreens, and many more… there are a total of 70 locations with in 20 miles of my zipcode!!   This is a great way to MAKE MONEY for opening a checking account, and you’ll SAVE money because there are NO FEE’s!!

 Answers to your FAQ’s: 

  • No there are no fee’s or penalties when you close the account
  • The first deposit is made by making a transfer from your existing checking into 360 checking
  • Making a deposit is easy… just scan your check and upload it to your account OR use their smart phone app and snap a picture of your check.
  • They may offer you an overdraft account.  You do not have to accept the offer.
  • As all banks do, they will pull your credit in order to determine eligibility.  If you are about to buy a house, then don’t do this right now.
  • I put enough money in the account to cover the rest of my Christmas shopping.  Not only will this by an easy way to track my spending, it’ll help stop over spending!
  • The savings account deposit must be made from an external bank account (via transfer)

Get This Offer!

Feel free to ask me any questions!!  Although I’m not a financial adviser, I’ll do my best to answer them. 

Comments

  1. If you need to make 5 debits in the 1st 45 days, do they send you a debit card quickly? And would ACH withdrawals count?

    • You get it in about a week. Deposits count towards the five as well and no ACH withdrawals don’t count. Using your card does. You’ll have plenty of time though! :D

  2. Christina LaBrasseur says:

    Are you able to deposit cash somehow? Thru the ATM maybe?

  3. I couldn’t find the savings account link. I opened up the checking account, but I wasn’t offered anything for savings. Do you have any suggestions?

  4. It says they pull your credit to determine eligibility. Does this mean you can be denied?

  5. Hi! Thank you for the info! You say the checking account can be opened using your existing checking account, can you explain this a little more please? I have an e-bank account and have no checks, can I still open an account? Can you open a checking account with cash or a transfer? Can you open a checking with them if you have no other bank accounts at all anywhere? Thank you!!

    • The first deposit to the new checking account is made via online transfer from your existing checking account. Yes, you can send money from your ebank account to the 360 account. They will link them together so you can always transfer $. I’m not positive that opening an acct w/ them if you don’t have any sort of bank acct will work. Although, maybe you can deposit a check using the app or scanning and uploading a check. Start the process and they’ll take you right through it. Let us know if you find out differently!

  6. Do the app deposits through your phone count?
    or transferring money from your primary?

  7. Is this for capital one online banking? I don’t have any branches where I live, will I still be able to use the acct.?

  8. This is the info they gave me: Get a $75 bonus when you open a 360 Savings® account:

    The bonus starts earning interest on day 1, but you can’t take it out for at least 30 days.
    The variable Annual Percentage Yield (APY) is 0.75%, effective 11/29/2013.

    So I think you have to wait 30 days. If you get the checking account also, you can easily transfer between the two.

  9. This is a division of Captial One that is online only banking, so any Capital One branch wouldn’t even know what you were talking about. :D It is good through the 2nd! Yay!

  10. I’m not sure that he would. If you could test it out and let us know, that’d be awesome!

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