Frequently Asked Questions

General Direct Banking Questions

A Capital One High Yield Money Market Account also offers a higher-than-average rate of return on your money, plus three easy ways to access your money and the security of FDIC insurance.

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.

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.

This is summary information only. 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.

Yes. Once your account has been verified, you can schedule transfers to and from your non-Capital One account. You can also transfer funds between your Capital One Savings and Money Market accounts.

Note that money market accounts have different rules for withdrawing funds than a regular checking account. Withdrawals by online transfer and check are limited to a combined six per calendar month, three of which may be by check. ATM withdrawals are limited to $500 per day, with no monthly limit on how many times you use the card. Capital One does not charge a fee for ATM usage, but the ATM owner may. Please read your disclosure for more details.

1. Log into your Online Banking account at capitalonedirect.com.
2. Select the “Self Service” tab, click “Link Accounts” and follow the instructions.
3. To verify your account, you will be asked to provide your username and password for your external account or follow our small trial deposit verification steps (refer to following question).

In order to validate your account ownership, you may be asked to verify the amounts of small deposits to your external account. This standard practice helps ensure your safety and security. Once you provide the information for the account you'd like to link, we'll make one or two small deposits followed immediately by one withdrawal to that account. To complete the setup of your link, you will need to follow these steps (which will also be e-mailed to you):

1. Inquire directly with your account provider (online, by phone, at an ATM, or in person) to identify the small deposit amounts we initiated. The amount(s) will be less than $1.00.
2. Log in to Capital One Online Banking and click on the Transfers tab, then the Manage Non-Capital One Accounts page. Click on Pending Verification in the Status column.
3. Enter the correct deposit amount(s) and click Verify Trial Deposit.
   Once your account is successfully verified, you can immediately begin transferring funds between this account and your Capital One account(s).

Linking accounts allows you to perform an Electronic Funds Transfer (EFT). Your transfer request is sent from the original account to the Automated Clearing House (ACH), a secure transfer system that connects all financial institutions in the United States. Once your transfer is verified by the ACH, it is sent to your receiving account. To see the sample timelines, refer to questions 11 and 16 below. Please note that transfer timelines may vary. For full details and descriptions, please refer to your account terms and conditions.

You can easily withdraw your money in three different ways:

•  Transfer money online between your Capital One account and your existing bank (and some brokerage) accounts through our free Online Banking service
• Write a check to yourself or anyone else
• Withdraw money with your ATM card You can also wire money out of your Capital One account although you'll need to pay a $20 service charge. Read Question 23 below for important details on this process.

Note that money market accounts have different rules for withdrawing funds than a regular checking account. Withdrawals by online transfer and check are limited to a combined six per calendar month, three of which may be by check. ATM withdrawals are limited to $500 per day, with no monthly limit on how many times you use the card. Capital One does not charge a fee for ATM usage, but the ATM owner may. Please read your disclosure for more details.

Transferring money is easy with our free Online Banking service. Simply log into your account at capitalonedirect.com and click the ‘Transfers’ tab. Complete the necessary information and schedule your transfer with just a few clicks.

Your money reaches the destination account 3 business days after the day you initiate the transfer, as illustrated below. Check with your bank to see when your funds will be available.

Transfers initiated on Friday, Saturday or Sunday will begin processing on Monday and reach the destination account on Wednesday.

You can wire funds out of your account only if the receiving account is in the name of, or for the benefit of, the 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.

There are three ways to make deposits into your Capital One account.

1. Use our free Online Banking service to make an online transfer (refer to question 16).
2. Mail a check to:

Capital One Direct Banking
P.O. Box 4197
Houston, TX 77210-4197

Checks must be payable to Capital One and must be a first party (personal check from an account owner’s own account) or second party check (bank check) payable to the account owner. Capital One Direct Banking does not accept the following for deposit:

• Third party checks
• Checks drawn from a foreign bank
• Foreign funds
• Money orders
• Access or convenience checks (checks drawn from credit cards)

3. Wire money. Note that you can wire funds into your account only if the sending account is in the name of, or for the benefit of, the 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.

Your money reaches your account one business day after the day you initiate the transfer, as illustrated below. Check your account agreement to find out when your funds will be available for withdrawal.

You can also call our automated account information line at 1-888-810-4013.

Online Banking uses the highest levels of online security to protect your information. In addition to standard procedures like encryption levels and user ID and password protection, we also utilize multi-factor authentication. With multi-factor authentication, you supply us with questions and answers that we use when additional security is needed (for example, if you forget your password or sign in from a computer we do not recognize).

All you need to do is determine the amount you want directly deposited to your account each pay period. This amount will be automatically withdrawn from every paycheck and deposited into your account.

Talk to your employer about enrolling in direct deposit or splitting your existing direct deposit across accounts.

1. Complete our online application.
2. Call us at 1-866-871-7932.

1. Create an electronic link to an existing external account. We'll deduct the amount you specify after you verify some "test" deposits to the linked account. Refer to question 6 in the Managing and Accessing Your Account section for more information.
2. Mail us a check.
3. Wire it from your current bank account. Refer to question 15 in the Managing and Accessing Your Account section for important details on this process.
4. Some existing users of Capital One Online Banking can make an "internal transfer" from one of their accounts (depending on account type).