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This bank does not handle usual fees that others do and also offers performance to your money.
Capital One was born in October 1994 after being part of a corporate spin-off from Signet Financial Corp (now part of Wells Fargo), being a monoline bank, that is, all its income came from a single product: credit cards. But it is not until 2005 that they made the move to retail banking, being one of the most popular financial institutions in the United States. Currently headquartered in McLean, Virginia, it has a strong reputation for its technology base.
To open an account at Capital One you need:
- Personal information (name and date of birth)
- Social Security number
- Phone number
- Employment status and income
You may also need to bring your driver’s license, state ID, or military ID. You can also open your account online at capitalone.com. You can also open your account at Capital One branches and cafes through your Personal Taxpayer Identification Number (ITIN) if you do not have social security and as long as you are of legal age and have a physical address in the US, according to with your Capital One Account Disclosure in your 360 Verification Agreement section under Eligible Clients.
Types of Capital One Checking Accounts
According to GOBankingRates, it is the eighth largest bank overall, although it ranks as the fifth largest consumer bank in the US.
Its great strength lies in issuing credit cards, so it only has two checking accounts.
It is an account specially designed for young people who want to get their first bank account. This type of account requires two owners: one under the age of 18 and one over that age who is the parent or legal guardian of the former. You do not require a minimum deposit to open it, it has no maintenance fee and it offers an annual rate of return of 0.1% APY, a high percentage for physical financial entities. In addition, alerts are sent about movements or a low balance in the account.
To be your main checking account, it maintains the advantages of the previous one of no initial deposit or minimum maintenance balance, since it does not handle maintenance fees. Both accounts are protected by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000 per account. You can withdraw cash within the bank’s 40,000 ATMs, although withdrawing money from another ATM outside the network does not generate extra charges. It also has a 0.1% APY. And you have an efficient online banking and app.
If you want more information you can check their website or call 1-877-514-2265.