Capital One 360 Money Market review

What are the benefits of a money market account with Capital One?

If Capital One has one major selling point, it would be its savings accounts. The 360 Money Market account has built-in features that give you the opportunity and incentive to save. In addition to being secure and fee-free, its benefits include:

• No minimum balance. You can stash as much or as little cash as you want into this account and earn interest. If you have less than $10,000, look into the savings account — you can earn 1% on all balances.
• Easy deposits. Send electronic transfers, receive domestic wires or deposit checks or cash in over 39,000 compatible Capital One ATMs.
• High interest rate. With this online account, you’ll earn a 0.85% APY on balances up to $9,999.99 and 1.9% APY on those over $10,000.
• Automatic Savings Plan. Reach your goals faster by transferring a fixed amount of money from your linked checking account to your 360 Money Market account.
• Flexible with linked accounts. You can move your money to and from a Capital One account or an account with a different bank.

What should I look out for?

Like all bank accounts, the 360 Money Market account has its drawbacks. These include:

• No debit card or checks. The account doesn’t come with a debit card or the ability to write checks, which can make withdrawals inconvenient.
• Doesn’t support international wire transfers. With this money market account, you can’t send or receive international wires.
• Short support window. While the Interactive Phone Service is available around-the-clock, if you want to speak to a human, you’ll have to call customer service between 8 a.m. and 8 p.m. seven days a week.
• Expensive outbound wires. The bank charges $30 to process outbound domestic wires.
• Limited transactions. In alignment with federal law, the account has a limit of six withdrawals per month, which includes internal transfers. If you exceed this, Capital One may close your account.

Compare with other money market accounts

1 - 6 of 10

Name	Product USFSA	Account type	Annual Percentage Yield (APY)	FDIC or NCUA insured amount	Minimum balance to earn interest	Minimum deposit to open	Offer	Estimated total balance
Quontic Bank Money Market Finder Score: 4.6 / 5: ★★★★★ Quontic Bank Money Market Finder Score: 4.6 / 5: ★★★★★		Money market	5.00%	Up to $250,000	$0	$100		$1,050	Go to siteView details Compare	loading Fetching your data...
Discover® Money Market Finder Score: 3.9 / 5: ★★★★★ Discover® Money Market Finder Score: 3.9 / 5: ★★★★★		Money market	Up to 3.85%	Up to $250,000	$1	$0		$1,038.50	Go to siteView details Compare	loading Fetching your data...
CIT Bank Money Market Finder Score: 3.9 / 5: ★★★★★ CIT Bank Money Market Finder Score: 3.9 / 5: ★★★★★		Money market	1.55%	Up to $250,000	$0	$100		$1,015.50	Go to siteView details Compare	loading Fetching your data...
Great Lakes FCU MMA through Raisin Finder Score: 4.7 / 5: ★★★★★ Great Lakes FCU MMA through Raisin Finder Score: 4.7 / 5: ★★★★★		Money market	2.40%	Up to $250,000	$0	$1		$1,024	Go to siteView details Compare	loading Fetching your data...
Axos Bank High Yield Money Market account Finder Score: 4.1 / 5: ★★★★★ Axos Bank High Yield Money Market account Finder Score: 4.1 / 5: ★★★★★		Money market	0.25%	Up to $250,000 individual	$0	$1,000		$1,002.50	Go to siteView details Compare	loading Fetching your data...
Bonus Axos Bank Business Money Market Finder Score: 3.6 / 5: ★★★★★ Axos Bank Business Money Market Finder Score: 3.6 / 5: ★★★★★	Bonus	Money market	0.20%	Up to $250,000	$0	$1,000	If you’re incorporated after June 1, 2020, you’ll get $200 added to your new account. Must maintain a daily balance of at least $2,500 for 60 days. Must apply with the promo code NEWBIZ200. If you’re not a new business, use promo code NEWAXOSBIZ for a $100 bonus.	$1,002	Go to siteView details Compare	loading Fetching your data...

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How do I open an account?

You can open a 360 Money Market account online or in person at a Capital One branch. The bank claims it takes just five minutes to fill out the online form. To do this, follow these steps:

1. 1. Head to the Capital One site.
   2. Hover over the Checking & Savings tab and select 360 Money Market.
   3. On the landing page, click Open Account.
   4. Log in if you have an existing Capital One account, credit card or loan. If you don’t, press No.
   5. Select your account type: Single or Joint.
   6. Enter your Personal, Contact, Citizenship and Employment details.
   7. Review and agree to the Terms & Conditions.
   8. Click Now, Let’s Add Money.
   9. Follow the prompts to provide identifying documents and fund your initial deposit. Capital One will confirm your details. You’ll then receive an account number.

How do I deposit and withdraw money?

There are a few ways to access your money and stash your cash:

• Electronic Funds Transfers. Sign in to the app or your online account to transfer money from other Capital One or external bank accounts.
• ATMs. Deposit cash or checks in compatible Capital One ATMs. To find one near you, use the search function on the website and check the Make A Deposit box.
• Wires. Move money around via domestic wires — at $30 for each domestic wire.
• Branches. Go to a Capital One Café or branch to access ATMs and send wires.
• Checks. Quickly deposit a check by uploading a photo of it to the Capital One app, bringing it to a branch or mailing it in. The 360 Money Market account doesn’t come with checks, so you won’t be able to send funds that way.
• Direct deposit. To enroll in direct deposit with your employer, fill out this form.
  Include your account number and routing number, and specify the amount you’d like deposited into your account from each paycheck.

If you’d prefer to pick up the phone, you can withdraw money by calling the Interactive Phone Service at 888-464-7868 any time.

How can I get in touch with customer service?

Got questions? You can contact the customer service team in the following ways:

• Live chat. Log in to your account for real-time help during business hours.
• Phone. To speak to someone, dial 877-514-2265 between 8 a.m. and 8 p.m., seven days a week.
• Interactive phone service. If you’re fine with following prompts, call 888-464-7868.
• Branches. Head to Capital One’s website to locate a branch near you.
• Capital One Cafes. Drop by to withdraw or deposit money, learn more about banking or speak to an associate over a cup of coffee. There are cafes across the country.

Bottom line

Money market accounts are designed to speed up saving, and Capital One 360’s is among the best with its high interest rate, automated savings programs and no fees that eat away at your deposits.

However, it doesn’t come with check-writing privileges or an ATM card, and that lack of flexibility can make it tedious to access your money.

To make an informed decision, compare your options with our guide to money market accounts.
Capital One Kids Savings Account review

Frequently asked questions

• What's the difference between the 360 Money Market and 360 Savings account?

  There are more similarities than differences. Both the 360 Money Market and 360 Savings accounts are online accounts that encourage you to save with high interest rates, savings programs and sophisticated online banking tools. They also have no fees or minimum opening deposits.

  However, the 360 Money Market account offers a 1.9% APY on balances over $10,000 — which is a better rate than you’ll get with the savings account.

• Can I link my 360 Money Market account to another account?

  Yes. You can link your money market account to any Capital One account or an account with another bank. When you open the account, Capital One will automatically link the checking account you used to make your initial deposit.

• What is Capital One 360's routing number?

  For this account, the routing number is 031176110.

• Do I need $10,000 to open the account?

  No. The 360 Money Market account has no minimum balance requirement. If you want to earn the competitive 1.9% APY, though, you’ll need to have $10,000 or more sitting in the account.

• Can I open a joint 360 Money Market account?

  Yes. You can select the joint account option when you apply. You’ll share access with another account holder and you’ll both be able to log in, transfer money and make deposits and withdrawals.

Capital One 360 Money Market is not currently available on Finder

Have you considered Uphold?

• $0 monthly fee
• Earn 4.9% APY on balances of $1,000+
• Earn 2% APY on balances lower than $1,000
• Available in 47 states
• Up to $2.5 million FDIC insurance

Learn more

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