Frequently Asked Questions

General Direct Banking Questions

A Capital One Certificate of Deposit (CD) is a savings certificate that entitles the holder to receive interest. CDs tend to offer higher interest rates than a traditional savings accounts because the holder commits to a fixed rate for a set term. Capital One offers CDs in terms from 6 months to 10 years with a minimum investment of $5,000.

Capital One Bank (USA), N.A., and Capital One, N.A., are both FDIC members. Our FDIC certificate numbers are 33954 and 4297, respectively. All deposits in each Capital One banking institution are now separately FDIC-insured up to $250,000 per depositor, per ownership category. This increase to $250,000 has been extended through December 31, 2013.

In addition, Capital One is a leader in financial services, offering a broad spectrum of products and services to consumers, small businesses and commercial clients. We have more than $100 billion in total deposits because of the level of trust we’ve built with our customers.

You can learn more about these institutions at the FDIC Web site, www.fdic.gov, by searching for "Capital One National Association" using Bank Find and clicking on each.

Since the FDIC considers Capital One's two subsidiary banks as two separate institutions, any funds held in Capital One Bank (USA), N.A., are insured separately from funds held in Capital One, N.A., and vice versa.

The FDIC also determines insurance coverage in the same institution by ownership categories. Your deposits in each Capital One institution are now FDIC-insured up to $250,000 per depositor, per ownership category. This increase to $250,000 has been extended through December 31, 2013.

Individual and joint accounts are insured separately. For example: if you have both an individual account and a joint account with your spouse in each of our institutions, total deposits for you as a couple can be insured up to $1.5 million (up to $250,000 in each of the individual accounts, and up to an additional $250,000 per spouse in each of the joint accounts).

Corporate and partnership account deposits are also insured up to $250,000 at each institution, and are insured separately from the personal accounts of the entity's stockholders, partners, or members.

Please note that Capital One, N.A. and Capital One Bank (USA), N.A. are participating in the FDIC’s Transaction Account Guarantee Program. Under this program, through December 31, 2009, all noninterest-bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account. Coverage under this program is in addition to and separate from the coverage available under the FDIC’s general deposit insurance rules.  What this means for you is that if you already have a non-interest bearing transaction account, such as a Branch bank checking account, that account is separately insured from any other accounts you have at either institution through December 31, 2009.  Noninterest-bearing transaction accounts are only available through Capital One, N.A. branches at this time.

For additional FDIC insurance information, we encourage you to visit the FDIC’s Web site, www.fdic.gov, or call 1-877-ASK FDIC (1-877-275-3342) - Hours of operation: 8:00 a.m.–8:00 p.m. ET, Monday–Friday.

You can wire the initial deposit for your CD account or an additional deposit during the grace period of the CD only if the account money is sent from is in the name of the CD account owner. Wires cannot be received from third parties, with the exception of escrow accounts and title companies, provided that you are listed as a beneficiary on the escrow or title account.

We will send you a written notice 25 days prior to the maturity of your CD in order to provide you with reinvestment options. Unless you instruct us otherwise, your CD will renew automatically at maturity for the same term at the then current rate for that term. One-month CDs will not receive a maturity notice.

Yes, an early withdrawal penalty will apply. Please read the online Disclosures for details.

Interest accrues daily and can be paid out monthly, quarterly, semi-annually or annually, at your option; although, CDs with maturities of less than six months will pay interest at maturity.

You can’t add money to a CD during its term, but you can add money to a CD at the time of maturity if you choose to renew. Also, you can open additional CDs at any time.

There are two convenient ways to review account balances, current rates, and interest information.

• View your up-to-date account information online through our free Online Banking service. To view your account, you must first register. We will mail your account information once you complete the application. You will need your account number and personal information to complete your online registration.
  
• Call our automated account information line at 1-888-810-4013.
  
  

You can wire funds out of your CD account upon maturity through your grace period of the CD only if the account money is sent to is in the name of the CD account owner or beneficiary (in deceased situations only). Wires cannot be sent to third parties, including escrow accounts, and title companies. Please complete our Wire Request Form. Failure to submit a complete and accurate wire request will delay the wire from being processed.

Note there is a $20.00 service charge to process an outbound wire.

You have two convenient ways to open your account:

• Complete our online application.
  (You can save your application so you can leave and come back later to finish. Read question 12 for details.)
  
• Call us at 1-866-871-7932.
  
  

Yes. The application can be saved, so you can leave and come back later to finish. Just click the "Save Application" button in the application after entering your personal information and follow the steps to save your application. We'll send you an e-mail with information you can use to retrieve your application at a later time. Retrieve your application by clicking on the "Retrieve" button on our homepage, www.capitalonedirect.com.