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Capital One vs Bank of America

Capital One is a good online bank with access to in-person support. How does it compare to Bank of America? Read our comparison chart below.

Capital One offers competitive rates on their savings account. Their interest checking has several overdraft options in cases of accidental overdraw. There are no minimum deposits or service fees.

While Bank of America is one of the largest banks in the U.S. with over 5,000 locations and 16,000 ATMs. It is known for good customer service with extended hours. It offers checking, savings, CDs, IRA, and investment accounts through Merrill Edge.

Compare Capital One with Bank of America, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

 

Capital One

Bank of America

SPECIAL OFFER
Capital One 360 Checking - $25 Offer - Learn More

Read Capital One Review

SPECIAL OFFER
Advantage Plus Banking Checking Account - $100 Bonus - Learn More

Read Bank of America Review

 

Benefits and Features

Savings1% APY. No monthly service fee and no minimum deposit.0.03% APY (up to 0.06% if enrolled in Preferred Rewards). $8 monthly maintenance fee, unless you have 1) daily balance of $500, 2) are a Bank of America Preferred Rewards Client, or 3) link your Rewards Savings Account to your Interest Checking Account. Minimum deposit of $100.
CD0.60% to 2.30% APY. Terms of 6 months to 5 years. 12-month CD APY of 2.30%. No deposit to open.Standard Term CD: 0.03% - 0.75% APY. Terms of 28 days to 10 years. Minimum deposit of $1,000. Featured CD: 0.07% - 1.80% APY. Terms of 12, 13, 25, and 37 months. Minimum deposit of $10,000.
Checking0.20% APY under $50,000; 0.75% APY $50,000 or more; 1.00% APY $100,000 or more. No monthly service fee and no minimum deposit. Overdraft options prevent you from being charged when you accidentally overdraw 
Money Market0.85% APY up to $9,999.99; 2.00% APY $10,000 or more. No monthly service fee and no minimum deposit. 
Customer Service
Mon-Sun: 8am - 11pm (ET)
Mon-Fri: 8am - 11pm(ET)
Sat-Sun: 8am - 8pm (ET)
ATMsOver 39,000 no-fee Capital One & Allpoint ATMsApproximately 15,900 ATMs around the country.
IRA CD0.60% to 2.30% APY. Terms of 6 months to 5 years. 12-month CD APY of 2.30%.Standard Term CD: 0.03% - 0.75% APY. Terms of 28 days to 10 years. Minimum deposit of $1,000. Featured CD: 0.07% - 1.80% APY. Terms of 12, 13, 25, and 37 months. Minimum deposit of $2,000.
Locations
Online Only
4600 retail financial centres around the country and brances in more than 40 other countries.
 

CreditDonkey® Reviews

Savings
Checking
Money Market
Customer Service
Mobile App
CD
Pros & ConsPros:
  • Overdraft protection options
  • No account minimums
  • 27 Capital One cafes for in-person support
Cons:
  • Lower savings APY compared to other online banks
Pros:
  • National availability
  • Extended customer service hours
  • Full service bank
Cons:
  • No free checking option
  • Low interest rates
  • Many misc. banking fees
Bottom LineGood online bank with access to in-person support... Read full reviewNational bank with widespread accessibility and wide range of services... Read full review

Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details.

Capital One: Pricing information from published website as of 9/16/2019.

Bank of America: Pricing information from published website as of 09/16/2019 based on 91107 zip code.

Which is Better: Capital One or Bank of America?

Still need help deciding which bank is better? Read the in-depth reviews below. You may also be interested in comparing Capital One or Chase.

In short: Capital One's checking is outstanding.


Articles on Capital One


Articles on Bank of America


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