How to open an account at Capital One bank in 2023

Recognized as one of the largest credit card issuers in the United States, Capital One also offers bank accounts that can be applied for in just a few minutes.

Capital One’s history as a financial institution is relatively short compared to other banks in the United States. However, since its founding, this bank has stood out for an advantage that is much more valid today: technology. Added to this advantage is a strong commitment to inclusion, that is, an intense effort to offer services that can be adjusted to the great diversity of clients residing in the country.

Originally, thanks to a well-built technology platform, Capital One focused all its efforts on issuing credit cards. Over the years, its options have broadened to catch up with other banks, and this diversification has given it a good place among the largest banks in the United States. Now, in addition to a good offer of credit cards, Capital One offers other products such as checking or current accounts, savings accounts, certificates of deposit and even alternatives for children and adolescents that can be easily requested online, in just a few minutes.

How do you open an account at Capital One Bank?

With technology as strong, opening accounts at Capital One is really simple and is reduced to a maximum of five minutes, according to the information that this bank offers on its official website. In general, anyone in the United States can open an account with Capital One, as long as they meet the fundamental requirements:

1. Two forms of identification: driver’s license, Social Security card, passport, or birth certificate.

2. A document that serves as proof of address.

The application can be carried out online, using any device (smartphone, laptop or tablet) that allows access to the official Capital One website. The steps to follow are the following:

  1. Go to Capital One’s official website in the United States, specifically their tool to compare bank accounts. This tool displays all the options that customers have access to in the bank with the intention that they can determine which of all is the most convenient.
  2. Once the applicant determines which of all the options is the most appropriate for his case, he only has to click on the “open account” button corresponding to it. If you need more information about the account, you can also consult it through the “learn more” button, before starting the application.
  3. By clicking on the “open account” button, the page redirects to an online tool to open the account. This tool divides the process into a maximum of six steps that, in total, are completed in approximately five minutes.
  4. The first step is a short survey to determine whether or not the applicant already has an account with Capital One. If they do, the process will be much easier.
  5. If the applicant does not have a bank account, they just have to click on the “no” button to continue. The system will move to the next step, which involves completing a form with basic personal information, contact information, employment information, among other topics. When completing it, all you have to do is click on the button at the end to continue the process, following the system instructions.

What bank account options does Capital One offer?

Capital One’s bank account options are designed to meet different financial needs for diverse clients. In that sense, before choosing an option, it is important that applicants determine what their main purpose is with the opening of the account. That way they can have a better idea to start the online application process.

The features of each account available at Capital One are described below:

1. Capital One Checking Account – Best option for everyday expenses and managing a monthly budget

Main features:

  • Offers service and support 24 hours a day, 7 days a week. In this sense, the client has access to their money through the bank’s mobile application, which stands out among the best in the United States.
  • Offers access to more than 70,000 ATMs without transaction fees.
  • It is protected against theft or loss of the associated debit card and allows the customer to block any operation from their mobile application.
  • Allows you to carry out banking operations safely.
  • Does not imply overdraft fees.
  • Offers early payment options (up to 2 days before by deposited check).
  • Allows you to deposit checks directly from the mobile application.
  • Can be opened without any initial deposit.
  • It does not require a minimum balance in the account.
  • Does not require maintenance fees.

2. Capital One Savings Account – Best option to save money for future projects or needs

Main features:

  • It has the highest annual percentage rate of return (APY) in the market. Therefore, it allows you to earn money while the customer saves.
  • Allows you to create several savings accounts associated with it. In this way, the client can distribute the money according to their future projects.
  • Ensures easy transfers between Capital One bank accounts and with bank accounts at other banks.
  • Allows checks to be deposited electronically using a photograph of the check and the mobile application.
  • It does not require a minimum amount to open or maintain the account.
  • It does not require charges or monthly maintenance fees, which benefits the customer’s savings since it keeps their funds intact.

3. Capital One Certificate of Deposit (CD) – Best option to save with a fixed interest rate for a fixed period of time

Main features:

  • It offers terms of 1, 2 or 5 years so that the client can choose the one that suits them best.
  • It is insured by the Federal Deposit Insurance Corporation (FDIC).
  • The client can decide if he receives the interest generated every month, every year or at the end of the term.
  • It allows the money to grow during the time it remains in the bank, that is, the client will receive more than what they have deposited.

4. Capital One Teen Checking Account – Best Choice for Teens

Main characteristics:

  • Requires the authorization of an adult (parent or legal guardian) to open it. In that sense, it’s more of a joint account.
  • Allows parents to receive alerts about movements. It also provides information about the funds available in the account.
  • It is completely free, with no minimum deposit or transaction fees required.
  • Can be managed from the Capital One mobile app.
  • Can be configured with parental control options.

5. Capital One Kids Savings Account – Best Choice for Kids

Main characteristics:

  • Requires the authorization of an adult (parent or legal guardian) to open it. In that sense, it’s more of a joint account.
  • It has a high percentage of annual return to favor the growth of savings.
  • Does not require additional charges or maintenance fees.
  • It does not require a minimum amount for its opening or for its maintenance.
  • Can be linked to other accounts.
  • Allows you to create multiple internal accounts for multiple objectives or financial goals.