Small Business Checking FAQ

spacer
1.How do I reorder business checks?
2.Is Online Banking available with small business checking accounts?
3.Is Online Bill Payment Service available with small business checking accounts?
4.What type of paperwork is required in order to open an account?
5.On what day of the month do statements cycle?
6.What is the difference between a "deposit fee" and a "per item deposited fee"? 
7.What kinds of transactions are counted towards the free transaction limits of a Completely Free Small Business Checking account?
8.What is the Earnings Credit Rate on a Commercial Checking account? 
9.How often is interest compounded on a Small Business Interest-on-Checking and when is the account credited?
10.For IOLTA accounts, what portion of interest is transferred to the Louisiana or Texas Bar Foundation?
11.Are my deposits with Capital One insured by the FDIC?
Small Business Rewards Checking
12.Is the Capital One® Small Business Rewards Checking account truly free?
13.Is there any fee to earn Rewards?
14.How do I earn rewards?
15.What kind of rewards can I get?
16.Can I combine rewards from my other Capital One accounts?
17.Will my rewards ever expire?
spacer
spacer
1. How do I reorder business checks?
You can reorder business checks online, quickly and securely. You can also stop by any Capital One branch, or call customer service at 1-888-755-C1SB (2172).
Back to top
2. Is Online Banking available with small business checking accounts?
Yes, all small business accounts have access to Online Banking.
Back to top
3. Is Online Bill Payment Service available with small business checking accounts?
Yes, all small business accounts offer Online Bill Payment Service at no charge. Online Bill Payment Service is not intended for use by commercial and institutional clients with annual sales exceeding $10 million.
Back to top
4. What type of paperwork is required in order to open an account?
1. A Tax Identification Number is required for all types of businesses. Sole proprietorships and solely owned LLCs can use either a Tax Identification Number or the owner's Social Security Number.
2. Any business that is doing business as another name (also know as a DBA) requires an Assumed Name Certificate.
3. Corporations, Partnerships, and LLCs can be verified through the Secretary of State or present the appropriate paperwork: Articles of Incorporation (corporation), Articles of Organization (LLC), or Partnership Agreement (partnerships).
4. If the business is not registered in either LA or TX, a Certificate of Authority is required.
5. All businesses must complete the bank's signature card and resolution when opening their accounts.
Back to top
5. On what day of the month do statements cycle?
Statements cycle on the last business day of the month.
Back to top
6. What is the difference between a "deposit fee" and a "per item deposited fee"? 
A deposit fee is a fee for each deposit. A per item deposited fee is a fee for each item (check) included in the deposit.
Back to top
7. What kinds of transactions are counted towards the free transaction limits of a Completely Free Small Business Checking account?
The transactions include all debits (checks written and ACH), credits (deposits at teller, ATM, or ACH), and checks deposited to the account. Payments made through Online Bill Payment Service do not count as transactions, nor do business debit card purchases and withdrawals. The number of free transactions varies by market.
Back to top
8. What is the Earnings Credit Rate on a Commercial Checking account? 
The Earning Credit Rate (ECR) is a rate earned on the average collected monthly cycle balance of your Commercial Checking account, and is used to help offset service charge fees. Your collected balance is your daily ledger balance, minus uncollected checks or debits.
Back to top
9. How often is interest compounded on a Small Business Interest-on-Checking and when is the account credited?
Interest is compounded daily and credited monthly.
Back to top
10. For IOLTA accounts, what portion of interest is transferred to the Louisiana or Texas Bar Foundation?
Each month interest accruals are automatically donated to the non-profit Louisiana or Texas Bar Foundation.
Back to top
11. Are my deposits with Capital One insured by the FDIC?
Yes. Capital One, N.A. is a member of the FDIC. The FDIC - short for the Federal Deposit Insurance Corporation - is an independent agency of the United States government. To learn more about the FDIC visit their web site at www.fdic.gov.
Back to top
Small Business Rewards Checking
12. Is the Capital One® Small Business Rewards Checking account truly free?
Yes. There is no monthly service fee and no minimum monthly balance requirement — it's a truly free checking account!1
Back to top
13. Is there any fee to earn Rewards?
No, there are no annual fees associated with the Capital One Small Business Rewards Checking account.
Back to top
14. How do I earn rewards?
It’s easy. You'll be automatically enrolled when you open the account, and you'll immediately start earning rewards just by doing your everyday business banking.

These are some examples of the ways you can pile them up.2

  • 20 miles for business debit card purchases
  • 20 miles for each bill you pay online and recurring pre-authorized payments
  • 10 miles for each check you write and account withdrawal

Easy-to-Earn BONUS miles:

  • 1,000 miles for opening your account
  • 1,000 miles for your first debit transaction
  • 1,000 miles for your account anniversary
  • 5,000 miles for opening a personal Rewards Checking account and using direct deposit3
Back to top
15. What kind of rewards can I get?
You choose from cash back, travel, merchandise and more!
  • Get cash back starting at 10,000 miles
  • Get airline tickets starting at 15,000 miles
  • Get merchandise starting at 10,000 miles
  • Redeem miles easily by phone or online
Back to top
16. Can I combine rewards from my other Capital One accounts?
Yes! Rewards that you earn on your other business and personal Capital One accounts - both checking and credit cards - can be transferred and redeemed together, whenever you want.4 You can even share your rewards with friends and family. You earn them, how you use them is up to you! 
Back to top
17. Will my rewards ever expire?
Your rewards are yours for the life of the account - they won't expire. But if your account is closed, you'll lose any rewards you haven't redeemed.
Back to top
spacer
1Customer purchases checks. Transaction limitations apply to checking account.

2Rewards Program

Account holder will earn rewards for every debit card purchase: 20 miles for each Non-PIN based purchase (when ‘credit’ is chosen at checkout) and 10 miles for each PIN-based purchase (when debit/PIN is chosen at checkout). Account holder will also earn 20 miles for every electronic bill payment transaction via Online Bill Pay and recurring pre-authorized payment (up to 10 transactions per month) and 10 miles for all other customer-initiated withdrawal transactions (up to 10 transactions per month). Rewards do not accumulate for fees of any kind, such as NSF fees. Miles will be applied to the rewards balance on a monthly basis within 60 days after the end of each month. Limit one consumer Rewards checking account per customer. Capital One has the right to change or cancel this rewards program at any time.

Account Opening Bonus for New Accounts: Account holders will receive a one-time bonus of 1,000 miles when the account is opened and the first transaction posts to the checking account. This bonus will be applied to the rewards balance within 60 days of the transaction amount posting to the account.

First Debit Card Purchase Bonus: 1,000 bonus miles will be applied to the rewards balance within 60 days after the first debit card purchase transaction posts to the account.

Anniversary Bonus: Account holder will receive 1,000 miles on the first rewards membership anniversary with us if at least one debit card purchase is made during the first membership year. This bonus will be applied to the rewards balance within 60 days following the rewards membership anniversary date.

The number of miles required by the customer for travel redemption will depend on the cost of the itinerary chosen by the customer at the time of redemption. The mileage requirement is as follows: 15,000 miles are required for tickets up to $150.00; 35,000 miles are required for tickets from $150.01 up to $350.00; 60,000 miles are required for tickets from $350.01 up to $600.00. For tickets over $600.00 in value, the required number of miles will be determined by multiplying the cost of the ticket by 100 (ex., $768 ticket requires 76,800 miles). The number of miles required to redeem for non-air travel redemptions will vary by rewards product and are subject to change at any time without notice. Customer can visit www.capitalone.com/nohasslerewards to register the account and see a complete description of current redemption offers. Customer is responsible for all associated taxes, airport security charges, fuel surcharges and other usage fees required for travel. These charges will be included in the overall calculation to determine the appropriate number of miles required for redemption.

3 Personal checking and credit card accounts eligible for rewards miles: See terms and conditions for the personal Capital One Rewards Checking account for details on limitations, miles earning structure and redemption. For credit cards, see product terms and conditions for each product.

4 Transfer features only available for Capital One-branded rewards accounts in good standing (not overdrawn, in default, closed, suspended or otherwise not in good standing). No transfers to cash rewards accounts.

Branch bank products and services are offered by Capital One, N.A. Member FDIC. "Capital One Bank" is used as a trade name of Capital One, N.A., and does not refer to a separately insured institution.