I’m so excited to bring you another update at Capital One (Capitalone.com/activate) 360 review. I’ve gotten so many requests to do this. I think last April and just talking about what I love about them. And so many people have said :“okay, you’ve been using them for almost a year, now what do you like, what do you don’t like, what are pros and cons, please give us an update.”
I got a couple of questions and just want to give you a couple of facts and different things like that. So one of the questions was from radiant reviews. Hi I was curious to see how easy it is to access the money from these accounts.
If you need to withdraw the money, it will be easy to get it. I’ve heard a lot of people are not able to access their funds for several days. I’m so worried about the liquidity of it, so I use it for all of my sinking funds. It’s not more of that day-to-day cash I need, it’s more of the long-term savings or like once every six months where I have to pay my car insurance.
If you need instant cash, they have a number of ATMs everywhere, where you can go to see how available they were. I went and put in my zip code on their website to see what ATMs were available, and they were all over the place. There was like 36 within a five-mile radius of my home.
Why do I just do that grocery stores in this and that, and they waived the transaction fee for you. So you can use regular ATMs throughout your community, if you do me that instant cash or if you don’t, it takes three days to transfer it from one account to the other from an outside account. If it’s within Capital One 360 like what we have, your savings and checks and checking account in the same with Capital One.
It’s instant, which is awesome, but three days transfer from an outside accounts. And I’ve learned that if you go through the Capital One 360 website for the transactions, there’s no fee. Now if you do or at least with my bank, with Bank of America, if I did the transfer from their account to Capital One 360 from their website, there was a three dollar fee.
If you do it through the Capital One, whatever you can transfer, either way to Capital One from Capital One, either way is no fee, which is awesome and just some quick facts about them. There’s no minimum balance at all, whatsoever with savings. Checking is anything like that, the interest rate is point zero five percent. So almost a four percent, which is unheard of, which is higher than CD rate and there anything like that.
So that’s incredible, almost a 100.954% interest, rate, mobile deposit, checks. I deposit all of my checks through them. Whenever I’m doing any side house on babysitting, whenever I get home and do mobile deposit, which is awesome multiple ATMs, which you can use notes feed a three days to transfer. And everyday home life had some questions as well.
Is there any verb or anything that has caused a fee? No, there isn’t. The transfer, as long as you do it from the right account from Capital One 360, there isn’t going to be a fee. And what is your favorite and least thing about it? Favorite is probably just seeing that interest rate, seeing it grow and seeing how productive it is.
My Bank of America one, I don’t even remember what the savings rate was. I think point zero zero, maybe zero one percent. It was completely low, so I would have thousands of dollars there, I get penny a month, which is serious. So that’s my my favorite, the interest rate and also you can split up the account, so you can split it up within the same account.
If you have your sinking funds, you can have multiple different accounts in it. It separates it for you, so if you want to have the wedding fund, the car insurance fund, the gifts fund, the Christmas funds, the medical fund, it’s all in one link account. But you can separate it, which is really cool, because you can see how much each one is.
If you don’t want to have it in Excel, which I have mine in Excel, there’s a great way to see how it is. And then my least favorite thing is probably the three day transfer, which is with all banks. So it’s not and he went specific to Capital One. What is it and how long does it take to and trends for money?
That is my review on Capital One 360. If you have any more questions on them, please leave them below, then I can answer them back to you in the comments or an email. Thank you so much for reading and I will talk to you there.