This document provides important information about the terms applicable to your MONEY account. Please be sure to read it carefully and retain it for future reference. When you see the words "you" and "your," they mean each person or entity who owns an account either individually, jointly, or on behalf of another person. The words "our," "us," "we," "Capital One," and "bank" mean Capital One, N.A. Our "Business Days" are Monday through Friday, excluding holidays and any other day we are not open.
Please understand that when you submit an application, open an account, or use our services, you agree to be bound by these terms.
Initial deposit requirement - There is no minimum deposit requirement. You can open the account with any amount you wish.
Minimum balance to obtain Annual Percentage Yield (APY) There is no minimum balance required to obtain the disclosed APY.
Rate information - The Interest Rate on your account is NaN% with an Annual Percentage Yield of NaN. The interest rates and annual percentage yields are variable and may change at any time at our discretion.
Compounding and crediting - Interest on your account will be compounded and credited on a monthly basis.
Effect of closing an account - You will receive the accrued interest if you close your account before interest is credited.
Balance computation method - We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on deposits - For all types of non-cash deposits, interest will begin to accrue no later than the next business day following the banking day on which the funds were deposited. For cash deposits, interest will begin to accrue the same day on which the funds were deposited. (Here's an example - if you make a deposit on a Sunday, we will process it on Monday, and interest will begin to accrue no later than Tuesday.)
Fees - The following fees may be charged to your account:
Transaction limitations -
MONEY debit card -
MONEY is designed specifically for young adults, so the card cannot be used with businesses that primarily provide services that may not be appropriate for young adults.
For the account owner who is less than 18 years old:
For account owners who are at least 18 years old:
The basics: MONEY is an electronic transactional account that pays a variable rate of interest and allows you to make withdrawals by using a debit card or by transferring funds to any other Capital One account you have (except existing Certificates of Deposit) or your Linked Account. You need to read this agreement and hold on to it in case you have any questions down the road. Please understand that by applying for or using MONEY, you're doing 2 things. First, you're agreeing to be bound by the terms of this agreement, in addition to any other agreements you have entered into with us. Second, you're asking us to automatically issue a MONEY Debit Card (the "Card") to the Young Adult. The Adult will not get a Card.
By use of your MONEY account, we are providing features through the Capital One mobile app, which may change from time to time, to help the Adult use the Account to help the Young Adult learn and practice money management.
Adults have features to send ad-hoc (one-time) transfers, set an allowance (recurring transfer), lock or unlock the Young Adult’s card, set ATM and spending limits, and control the Young Adult’s access to use Zelle® to send money to friends and family.
Young Adults can distribute their balance between “Spendable” (amounts allocated towards spending) and “Set Aside” (amounts allocated towards saving), and set up a savings goal. Such features can provide an easy way for the Young Adult to see the interaction between spending and saving. Please note that while the Young Adult can designate part of their balance as “Set Aside” for the purpose of trying to save money, the money remains in the account and does not have a separate interest rate. In addition, if any transaction exceeds the Young Adult’s Spendable allocation, the Set Aside allocation will be used.
The Young Adult can also lock/unlock, reorder, and change PIN for their debit card. Young adults are prevented from taking this action if the adult has locked the card.
Users can submit suggestions via the MONEY account mobile experience. This feedback helps us improve the user experience. This form is intended for users aged 13 and older, but the Adult can submit feedback on behalf of the Young Adult. Do not include non-public information such as account number or social security number. Please note, we cannot respond directly to feedback submitted through this form. For complaints, transaction disputes, and other issues, please call Capital One at 1-800-655-2265.
We may or may not provide you with technical and other support for the Service. You agree to abide by any support rules and policies that we establish in order to receive such support. If such support is provided, it will be provided in addition to your normal support for your Capital One Accounts.
If you violate any provision of these Terms, your permission to use the Service will terminate automatically. Additionally, we, in our sole discretion, may terminate your MONEY Account on the Service or suspend or terminate access to any part or all of the Service at any time, with or without notice. We also reserve the right to modify or discontinue the Service at any time (including, without limitation, by limiting or discontinuing certain features of the Service) without notice to you. We will have no liability whatsoever on account of any change to the Service or any suspension or termination of your access to or use of the Service. You may stop using the Money mobile service at any time. If you do so, you will remain obligated to these Terms relating to your use of the Service incurred prior to termination.
Additional Terms. Your use of the Service is subject to any and all additional terms, policies, rules, or guidelines applicable to the Service or certain features of the Service that we may post on or link to on the Service (the "Additional Terms"), such as end-user license agreements for any downloadable applications that we may offer, or rules applicable to particular features or content on the Service or additional services. All such Additional Terms are hereby incorporated by reference into, and made a part of these Terms.
We reserve the right, at our discretion, to change these Terms on a going-forward basis at any time. Please check these Terms periodically for changes. In the event that a change to these Terms materially modifies your rights or obligations, we will make reasonable efforts to notify you of such change. We may provide notice through a pop-up or banner within the Service, by sending an email to any address you may have used to register for an account, or through other mechanisms. Additionally, if the changed Terms materially modify your rights or obligations, we may require you to provide consent by accepting the changed Terms. If we require your acceptance of the changed Terms, changes are effective only after your acceptance. If you do not accept the changed Terms, we may terminate your access to and use of the Service. All other changes are effective upon publication of the changed Terms. Disputes arising under these Terms will be resolved in accordance with the Terms in effect that the time the dispute arose.
The visual interfaces, graphics, design, compilation, information, data, computer code (including source code or object code), products, software, services, and all other elements of the Service (the “Materials”) provided by us are protected by all relevant intellectual property and proprietary rights and applicable laws. All Materials contained in the Service are the property of us or our third-party licensors. Except as expressly authorized by us you may not make use of the Materials. We reserve all rights to the Materials not granted expressly in these Terms.
You may provide us with, or we may solicit your feedback, ideas, or suggestions with respect to the Services, and you hereby grant us a perpetual, worldwide, fully transferable, sublicensable, full-paid up, irrevocable, royalty free license to use such feedback in future modifications of the Service, other products or services, or marketing or materials. We will not, however, disclose such feedback in a way that would identify you, without obtaining your permission.
You agree that you will be responsible for your use of the Service, and you agree to defend, indemnify, and hold harmless Capital One, N.A. and their respective officers, directors, employees, consultants, affiliates, subsidiaries and agents (collectively, the "Capital One Entities") from and against any and all claims, liabilities, damages, losses, and expenses, including reasonable attorneys' fees and costs, arising out of or in any way connected with (i) your access to, use of, or alleged use of the Service; (ii) your violation of these Terms or any representation, warranty, or agreements referenced herein, or any applicable law or regulation; (iii) your violation of any third-party right, including without limitation any intellectual property right, publicity, confidentiality, property or privacy right; or (iv) any disputes or issues between you and any third party. We reserve the right, at our own expense, to assume the exclusive defense and control of any matter otherwise subject to indemnification by you (and without limiting your indemnification obligations with respect to such matter), and in such case, you agree to cooperate with our defense of such claim.
Additional terms We can add eligibility requirements to use the Service at any time.
You will follow all laws, regulations, and terms related to the Service.
The Service can be affected by the terms of other agreements you have with other parties including those for your mobile telephone and any mobile service. We have no responsibility or obligations under any of these agreements, and the Terms will not change any of your rights and obligations under them.
Your promises to us – including your indemnification of us – will continue even after the Terms ends.
All of our affiliated entities and parties you indemnify under the Terms will be third party beneficiaries of the Terms and entitled to directly rely on its provisions and enforce it. No other person or party will have rights or claims under the Terms.
If any provision of the Terms is found to not be enforceable, the other provisions of the Terms will remain valid and enforceable. You and we will work in good faith to substitute other enforceable terms that are similar to those that are unenforceable. Our failure to enforce any term(s) of the Terms will not be a waiver or affect our right to later enforce them.
Eligible customers: MONEY is available to United States citizens or lawful permanent residents with a U.S. physical address or with military addresses (APO or FPO). Individual Taxpayer Identification Numbers (ITINs) are acceptable for account opening in Branches and Capital One Cafés. MONEY must have two owners, the "Adult" who must be at least 18 years old and the "Young Adult". The “Adult” must be the parent or legal guardian of the “Young Adult”. We may restrict the Young Adult's access to some features of MONEY. The Adult on the account must have either (i) an existing, active deposit account with Capital One that's in good standing; or (ii) a personal (non-business) checking account at another U.S. chartered bank that can and will be linked to your MONEY (the "Linked Account").
You must also be a paperless Customer - that means that (i) you must keep us supplied with your valid email address; and (ii) you must agree to accept electronic delivery of all communications (like end-of-year tax forms and electronic statements) that we need or decide to send you.
Account opening: You can only open MONEY on our interactive website. If you already have an account with us when you open MONEY, your existing Linked Account(s) will also be linked to your MONEY. We reserve the right to verify that you are the owner of the Linked Account. Your MONEY account won’t be considered “opened” until it’s funded. This means your balance must be at least a penny.
Reporting information to consumer reporting agencies and check verifications systems: We may report information about your account to consumer reporting agencies and/or check verification systems for the Adult on the account. Defaults on your account may be reflected in your credit report. This could affect your ability to open accounts in the future. In the event we report your account to a check verification system, you acknowledge that even if you pay us all amounts owed, we are not required to remove an accurate report of account mishandling from any such check verification system.
Your MONEY Teen Checking account is a consumer account and must be used primarily for personal, family, or household purposes. If you fail to comply with these conditions, or use your account for business purposes, we may restrict use of, or close your account.
Account ownership: MONEY is a joint account owned by 2 people called "joint tenants" and all deposits made into the account are owned by both people. Except for certain retirement benefits like Social Security, if one person dies, the money in the account then belongs only to the survivor (and not to the estate of the deceased person). Any adult owner of MONEY may, as allowed in this agreement: 1) withdraw, transfer funds or close the account without the other owner's consent; 2) pledge the account to us as collateral for a debt owed to us; or 3) deposit checks payable to any joint owner.
If one joint owner requests that we not pay items authorized by a different joint owner, we may restrict the account and refuse to pay all items (including items authorized by the owner making the request), but we are not required to do so. If we restrict the account, we may not release the restriction unless all joint owners agree in writing to remove it. No request to restrict the account will affect items that we paid before the request. If we decide not to restrict the account, all joint owners remain responsible for items subtracted from the account.
During your life, the funds in the account belong to you and, until your death, or if there are co-owners, upon the death of the last co-owner, the beneficiary(ies) have no interest in the account and cannot perform transactions on the account. You may withdraw all or part of the account balance, close the account, remove or add POD beneficiaries or change the account type or ownership. Upon the death of all owners, we will distribute the then remaining funds to such of the beneficiaries as shall be then-living, in equal shares, subject to our right to charge the account for any amount a deceased owner, co-owner or POD beneficiary owes us; if any beneficiary is under the age of 18 years at the time he would be entitled to receive property under the terms of the previous provision, we will pay such person’s share to any person who is the statutory or court-appointed custodian for the benefit of such person.
We may also pay all or any part of the funds in the account to a court or government agency if we receive a garnishment, levy or similar legal process that identifies any of the joint owners.
Connecting accounts: If you have more than one eligible Capital One account, we will automatically "connect" your eligible accounts so they appear when you're logged into your account through the website or mobile app.
We will display only summary information about your "connected" accounts. To get any other information or conduct any activity on these account types, you must access the specific account servicing area for that account. All connected bank accounts will be visible when you log into your account through the website or mobile app. Keep in mind that certain features, information, types of transactions or other services may not be available for all of your connected accounts. As long as you maintain your unique log in credentials, you will have access to view all of your individual accounts and shared accounts and people with whom you share accounts will only be able to view accounts that are shared with you, not your individual accounts.
Deposits: This account allows you to make deposits by cash, check, Automated Clearing House (ACH), domestic wire transfer or other payment network transfers, or transfer from another eligible Capital One, N.A. deposit account.
Any transaction that you conduct on Saturday, Sunday, a federal holiday, or other days on which we are closed may be handled the following business day.
Checks you deposit must be payable to you or to the living trust (in the case of a trust account).
We may refuse all or part of a deposit. We also may refuse a deposit after initially accepting it. If we do that, we will reverse the amount added to your account and send it to you via check or your external linked account. We will not be liable to you for refusing a deposit, even if it causes us to decline any transactions you have already made.
If a check from a split deposit is returned unpaid, we’ll deduct the full amount of the check from the account that received the largest portion of the check. If the deposit was split for an equal amount, we’ll deduct the full amount of the check from the first account in the transaction sequence.
Once your account is open, funds will be available according to the Deposit Availability Disclosure section of this agreement.
If a check or other deposit is returned to us unpaid or is otherwise charged back to us, we will deduct the amount of the check/deposit from your account. If the check was deposited into MONEY and multiple other Capital One accounts, we will debit your MONEY account for the full amount.
Foreign checks are handled as collection items only and are converted at our current daily rate and credited in U.S. dollars. Foreign checks sent for collection are exchanged at the exchange rate on the day of payment. All returned foreign checks will be charged back to your account at the rate used when initially credited and may be subject to a foreign bank charge (if applicable). Any payment(s) made to you from such items shall be provisionally credited to your account until we receive final payment from the foreign bank. Please note that while the foreign check collection process typically takes anywhere from four to six weeks, we have no control over the process once a check is sent for foreign collection. Accordingly, the process may take longer, depending on the foreign bank. You hereby waive notice of dishonor, nonpayment, or protest with respect to any items credited to or charged against your account.
It's also simple to make withdrawals: You can request a withdrawal from your account by using our website, calling us, or visiting one of our branches.
Withdrawals and transfers: Generally, you can withdraw or transfer money from your MONEY account by 1) using our website or mobile app; 2); using the Card we give to the Young Adult to make withdrawals at ATMs and points of sale ("POS"); 3) visiting one of our branch locations; or 4) calling us. We may limit, refuse or return any withdrawal or transfer of funds from your MONEY account that is made in a manner not permitted by us. You can't use checks to make a withdrawal from your MONEY account or transfer money to or from your MONEY account at a Capital One ATM terminal.
Free transfers to or from your own linked account at another financial institution are processed via the automated clearing house (ACH) network, and will typically take 3-4 business days to transfer. If you want more detailed information regarding electronic transfer times, see the Electronic Fund Transfer Disclosure Statement.
MONEY debit card: As you know, when you applied for MONEY, you automatically asked us to give the young adult a card. That's great because the Card can be used to (i) withdraw money at automated teller machines ("ATMs") that are part of a network we participate in; (ii) deposit cash or checks at a Capital One ATM that accepts Capital One deposits, and (iii) make POS purchases (including "cash-back" transactions where a merchant gives you cash from your MONEY account). You can't use your Card at an ATM to transfer money between your Capital One accounts or Linked Accounts. By using your Card, you authorize us and/or our agents to debit your MONEY account. You're responsible for all transactions you authorize using the Card, including any losses, charges or penalties incurred as a result. Other than cross-border transactions, we don't charge you for using your Card. But, if you use your Card at an ATM, the owner of the ATM may charge you for using the ATM. If there is such a charge, you should be told how much it is before you complete the withdrawal. If you then decide to withdraw the money, the amount of the withdrawal, plus the charge, will be deducted from your MONEY account. The Card is the property of Capital One and if your MONEY account is closed or your Card privileges are cancelled, you agree to stop using the Card and destroy it.
Transactions made with your Card in foreign currencies and transactions that are classified by MasterCard® as "cross-border transactions" (generally, transactions that are processed outside the United States) are called "foreign transactions." If a foreign transaction is in a foreign currency, it will be posted to your account in U.S. Dollars. The exchange rate between the foreign currency and U.S. Dollars is a rate selected by MasterCard®. Basically, here's how MasterCard® calculates the exchange rate: they usually start with either a government-mandated currency rate or a wholesale rate as of the day your foreign transaction is processed (i.e., not the date you made your purchase and not the date your purchase is posted on your statement).
The Zelle feature on the MONEY account is available for Young Adults 13 and older within the mobile experience, and only upon consent of the Adult. The feature will not show in the mobile experience if the Young Adult is not yet eligible, or if the account is not part of the pilot. Zelle on the MONEY account is currently being provided as an experimental version and is intended only for testing purposes (“Pilot”). The Pilot is intended to provide access to some Capital One customers to test and provide feedback on the user experience that has not been released to the general public. Certain features may be added or removed without notice and we have no obligation to provide, or continue to provide, the Pilot. Certain features associated with your Money Account may not be available as part of this Pilot. All features are subject to change without notice. You can always access your Money Account and all of its associated features and capabilities at capitalone.com. Since this is a Pilot, you should know that there may be some issues along the way. If something goes wrong, please contact us.
While the Young Adult is a minor under 18, the Adult is responsible for any transactions the Young Adult conducts using Zelle. Pending transfers via Zelle may be cancelled. Once a transfer is sent, it cannot be canceled or reversed. Once permission to use Zelle has been granted by the Adult, the Young Adult (once registered) can send money using Zelle without the Adult’s consent to each individual transaction. If the Zelle service is revoked, and the Young Adult is unenrolled from Zelle, any pending transfers will be canceled. If access is once again granted to the Young Adult, they will be required to re-enroll with Zelle to use this feature.
For your protection and our protection: You authorize us to follow any instructions you give to us. We reserve the right to contact you to obtain confirmation of any instruction before processing it. However, we're not required to confirm any instruction that looks like it was made by you, and we won't be liable if we don't contact you. We're also not required to confirm the actual identity or authority of anyone who uses your Password or a personal identification number ("PIN") or any account access device we gave you (like the Card) (collectively, "E-Identification"). We reserve the right, at our sole discretion and without notice, to refuse to make a withdrawal or transfer for security, credit, legal/regulatory or other reasons, and to refuse to honor withdrawal or transfer requests that appear to be fraudulent or erroneous. We can limit, refuse or return any withdrawal or transfer of funds from your account that is made in a way not permitted by us.
Statements: As required by law, we‘ll provide you with a statement at least 4 times a year. Your Statement will be made available to you based on your selected delivery method. Payments or transfers you make will be listed on your Statement. You agree to notify us within 60 days if you think there‘s an error or unauthorized transaction shown on your Statement.
Overdrafts: If your Available Balance isn't enough to cover any withdrawal or transfer you've authorized, you agree that we can refuse to process the withdrawal/transfer. If for some reason we allow your MONEY to be overdrawn, you must immediately make a deposit to cover the excess overdraft. If you don't promptly make a deposit to cover the overdraft, you agree that we can transfer funds from any other deposit account you have with us to cover the overdraft. If we sue you to collect any overdraft, you agree that we're entitled to collect all costs and expenses of suit from you (including the reasonable cost of an attorney), in accordance with applicable law. You agree that we aren't liable for any damages or expenses you incur due to any delay or failure of any Payee or third party in crediting or processing a withdrawal or transfer.
What gets processed when: “Send Money With Zelle” will be processed as soon as possible after the Young Adult enters them, and the funds will be removed from the account immediately. At midnight of each bank business day, we'll first process electronic fund transfers scheduled for that bank business day. If there aren't enough funds in your MONEY to allow all of the scheduled transactions for a bank business day to be completed, we'll process your scheduled electronic fund transfers from highest dollar amount to lowest dollar amount. We'll attempt every scheduled payment until your Available Balance is insufficient to cover a transfer.
Your responsibility: You're responsible for all transactions you authorize, including any transactions you unintentionally or inadvertently authorize, and any losses, charges or penalties incurred as a result. You must follow all of our instructions when you request and authorize any MONEY features. You must have sufficient available funds in your MONEY account to cover any withdrawal or transfer you request. If you authorize someone else to use your MONEY account or Card, you're responsible for everything that person does with your account, including any losses, charges or penalties incurred as a result.
You’re also responsible for giving us accurate Payee information. If any Payee information changes after you initiate a transfer or payment, you’re responsible for notifying us of these changes. If you tell us to make a payment to a particular Payee and you fail to give us the correct information, we’re not responsible or liable for the payment.
You agree to indemnify, defend and hold harmless the bank and any of our third party providers who perform money related services for you on our behalf from any and all claims and liability arising from any payments initiated by you that aren’‘t completed due to lack of funds in your account(s).
Under no circumstances will we or our third party providers be liable for any indirect, consequential, incidental, special, punitive, or exemplary damages arising out of your use of the money features, regardless of the nature of the claim, including negligence, even if we or our third-party providers know that such damages may occur. money features are provided “as is” without warranty of any kind, either expressed or implied, including, but not limited to, the implied warranties of merchantability and fitness for a particular purpose.
Our responsibility: If we don't complete a payment or transfer on time, according to your properly transmitted instructions, we may be liable for your losses or damages. However, there are some exceptions. For instance, we won't be liable for losses and damages if:
Your MONEY Agreement and other agreements you may have with us contain other exceptions to the Bank’s liability. You agree that we don’t have any responsibility or liability for any act or omission beyond that which is imposed on us by law.
Collection of items: If we elect to receive checks and other items for collection, we act as your collection agent and don't assume any responsibility beyond the exercise of due care. We won't be liable for any default or negligence by any other banks we use to collect the check or item or for any loss in transit.
Things you tell us to do: We may refuse to follow any of your instructions that in our sole judgment are illegal or would expose us to potential liability. Alternatively, we may require adequate security or invoke other security measures to protect us from all losses and expenses incurred if we follow your instructions. You agree to reimburse us for any damages, losses, liabilities and expenses (including, but not limited to, the reasonable costs of an attorney) that we incur in connection with your account if we take an action in accordance with your or what purports to be your oral, written or electronic instructions.
If your address changes: You must notify us of any change of address by calling us, or using our secure website. Any notice we mail to you (or email to you if you've told us to communicate with you electronically) will be binding and sent to the last (postal or electronic) address in our records. We may change your address if we receive an address change notice from the U.S. Postal Service ("USPS") or if a company in the business of providing correct addresses informs us that the address in our records no longer matches your address. Even if you elected to receive electronic communications from us, there may still be some legal information that we need to send you via the USPS.
Communication: You agree that we may communicate with you by mail, telephone, email, fax, prerecorded message, automated voice, text message or other means allowed by law regarding your Account. You agree that we may contact you at any telephone number (including a mobile telephone number that you provide us), and use an automated telephone dialing system or similar device to do so. You agree that we may monitor or record any conversation or other communication with you.
While we may be able to provide some customer assistance in languages other than English, we cannot guarantee that customer service will always be available in languages other than English. As a courtesy, we may translate some of our forms, letters and disclosures, including this agreement, into another language. However, many important bank documents, and some products and services related to this account, are provided only in English.
Monitoring and closing your account: We reserve the right to monitor all MONEY activity for inappropriate use. Either you or we may close your MONEY at any time and for any reason. If we disable your MONEY with or without advance notice, all collected funds (less any amounts due to us) will be transferred to your external Linked Account, mailed as a check to the address we have in our records, or credited to another account you have with us.
State laws (called "escheat" or unclaimed property laws) require us to close all your deposit accounts and transfer your money to the state if your accounts are dormant for a period of time, as defined by your state of residence. Your account can become dormant if, for 24 months, there is no transactional activity. Your account will remain dormant until funds are transferred to or from the dormant account. If all of your accounts become dormant, you may no longer receive paper statements, but you can still view your accounts online.
State abandoned property law establishes guidelines under which unclaimed property must be surrendered to the applicable state. Generally, the funds in your account are considered unclaimed if you have not had any activity or communication with us regarding your account over a period of years, defined by your state of residence. All products are subject to abandoned property laws, including IRAs and CDs. If your funds are surrendered to the state, you may be able to reclaim them, but your claim may need to be presented to the state. We want you to keep your money, not the state! You can avoid the transfer of your money to the state simply by signing into your account, transacting periodically, contacting us, or replying to any abandoned property correspondence.
Lien and Set-Off: Unless otherwise prohibited by law, by opening an account, you grant us a security interest (in other words, a "Lien") in your deposit accounts with us. That means that at any time and without notice to you, we can use all or any part of the money from your individual or joint accounts to pay any amounts you owe us or any of our affiliates from time to time. (This is what's known as a "Set-Off"). Any Set-Off shall be a lawful and valid payment by you of amounts you owe us.
Change/waiver of terms: We may change this agreement, add new provisions and/or delete provisions at any time. Changes and new provisions will be binding upon you as of their effective date. If we do make a change, we'll let you know about it as required by law. We may change this agreement without notice to you when necessary to conform to federal or state law. We reserve the right to terminate, change, discontinue or add products, functionality, account types or features at any time and within our sole discretion. We have the right to waive any of our rights under this agreement with respect to any transaction without obligating ourselves to treat future transactions in the same way.
No fiduciary obligation: Capital One doesn't assume any fiduciary obligation on your behalf. This means that we don't act as your trustee or financial advisor, and we don't assume any responsibility for your account beyond reasonable care.
Assignment: You can't pledge, assign, give as a gift, or otherwise transfer the ownership of all or any part of your MONEY to a third party without our prior written consent.
Governing law and regulations: Your accounts are subject to both federal law and the laws of the state of Virginia, as well as any operating circulars or clearing house rules that apply to us and the rules and regulations of our supervisory authorities (collectively, "Applicable Laws"). If there's a conflict between these Terms and Applicable Laws, these Terms will be changed to the extent necessary to comply with Applicable Laws. If any provision of these Terms is determined by a Court or administrative agency having proper jurisdiction to be invalid, unenforceable, or illegal, that determination will not affect the validity and enforceability of the remaining provisions of these Terms.
Levies, attachments, and other court processes: If we receive a levy, attachment, or other legal process against you or any party to your account, we may refuse to permit withdrawals or transfers from your account until the legal process is dismissed or satisfied. Any levy, attachment, or other legal process will be subject to our right of set-off and security interest. You're responsible for any losses, costs, or expenses we incur as a result of any dispute or legal proceeding involving your account.
Claims against your account: If we receive a claim against funds in your account, or if we know of or believe that there's a dispute over the ownership or control of funds in your account, we may, if we choose to, place a hold on your account. We can also refuse to pay out any of your funds until we're satisfied that the dispute is settled. We may also close the account and send the balance to the account holder(s) we have on record, decide to rely on our current account records, require a Court Order to act, or take any other action that we feel will protect us. We won't be liable to you for taking any such action.
Claim of loss: If you claim a credit or refund because of a forgery, alteration, or any other unauthorized withdrawal, you agree to cooperate with us in the investigation of the loss. Your cooperation may include, but not be limited to, providing us with an affidavit containing whatever reasonable information we require concerning your account, the transaction, and the circumstances surrounding the loss.
Death, incapacity or termination: If you die or are declared legally incompetent, or, in the case of a living trust account, the living trust is terminated, we can continue to accept and process deposits to your account until we know about the death/incompetency/termination and have a reasonable chance to act.
Notices to you or us: We shall deem any and all notices to us effective upon receipt by us. Any notice that we give to you will be effective when mailed or electronically transmitted to you at the mailing/email address reflected in our records. Even though we may have provided you account opening disclosures in a language other than English, we may continue to provide you with notices/communications in English. Notice to any one owner of an account constitutes notice to all owners of that account.
Captions: The captions used in this agreement are for convenience only. They don't affect the meaning of anything in this agreement.
Jury trial waiver: All actions arising out of this agreement or concerning your account shall be heard by a judge sitting without a jury.
Events beyond our control: We'll make all reasonable efforts to give you access to your accounts and current and complete account information. However, you agree that we won't be responsible for any interruption in service or loss caused by an event which is beyond our control, including, but not limited to, natural disasters, wars, riots, strikes, computer failure, terrorist act or loss of power, communication, or transportation facilities. We also won't be responsible for any losses or damages, including direct damages, resulting from your use of your account, unless such losses or damages are caused by our lack of good faith or failure to exercise ordinary care. In no event will we be responsible for indirect, special or consequential losses or damages of any kind.
When a deposit is made to your account, the funds may not be available immediately. For example, if you deposit a check on Monday, you may not be able to withdraw the funds from that check, and we may not pay another check with those funds, until Tuesday or even later. Our general policy is to make funds from your check deposits available to you on the first business day after we receive the deposits. Cash and electronic direct deposits will be available on the day we receive the deposit. Longer delays may apply (as described below), and different rules apply for checks deposited from customers with accounts open fewer than 30 calendar days. Your account won't be considered "opened" until you have made a deposit to the account.
Even after we have made funds available to you and you have withdrawn the funds, you remain responsible if any deposit to your account is returned, rejected, or otherwise uncollected by the Bank.
The length of the delay is counted in business days from the day of your deposit. A business day is any day of the week except Saturday, Sunday, and federal holidays. The business day ends at different times, depending on the channel used. The end of the business day is referred to as the "deposit cutoff time". If you make a deposit before our cutoff time on a business day that we are open, we will consider that day to be the day of your deposit. However, if you make a deposit after our cutoff time or on a day we are not open, we will consider the deposit to be made on the next business day that we are open.
(Customers with checking accounts open longer than 30 days)
In some cases, we will not make all of the funds that you deposit by check available to you on the first business day after the day of your deposit. Depending on the type of check you deposit, funds may not be available until the second business day after the day of your deposit. The first $225 of your deposits, however, may be available on the first business day after the day of your deposit.
If we are not going to make all of the funds from your deposit available to you as described above, we will notify you at the time you make your deposit. We will also tell you when the funds will be available. If your deposit is not made directly to one of our employees, or if we decide to take this action after you have left our Capital One location, we will send you a notice.
In addition, funds you deposit by check may be delayed for a longer period under the following circumstances:
Funds from check deposits may be delayed for up to four business days if:
Funds from check deposits may be delayed for up to five business days if:
We will notify you if we delay your ability to withdraw funds for any of these reasons, and we will tell you when the funds will be available.
If you are a new customer, the following timeline will apply during the first thirty (30) days your account is open. For purposes of this deposit availability policy, you will be considered a new customer if you have not had a checking or savings account open for at least 30 days.
If we cash a check for you that is drawn on another bank, we may withhold the availability of a corresponding amount of funds that are already in your account. If we do, we will hold those funds according to the deposit timelines above.
Electronic fund ACH deposits that we originate on your behalf (including all future dated transfers) will generally be made available on the second business day after the date of your transfer. We will notify you if we delay the availability of your funds, and we will tell you when you can expect your funds to be available.
Checks deposited using our Mobile Deposit application are not subject to the funds availability requirements of Regulation CC. This will be true even if we follow our Availability Timelines provided above and provide you with Regulation CC disclosures or notices.
Checks deposited using this service will generally be available on the first business day after the deposited date, but we can place an extended hold on your deposited funds as described in our Availability Timelines. We will notify you if we delay the availability of your funds, and we will tell you when you can expect your funds to be available.
The purpose of this disclosure statement is to inform you of your rights under the Electronic Fund Transfer Act. The electronic fund transfers (EFT) we are capable of handling are indicated below. Additional services may be provided in the future as they are developed. Please read this disclosure statement carefully and keep it for future reference. In this disclosure statement, the words "you" or "your" refer to the depositor and any authorized user(s) of the account. The words "we," "us," "our," "bank," and "Capital One" refer to Capital One, N.A.
See your MONEY Agreement for a more complete description of some of these services.
For the account owner who is less than 18 years old:
For account owners who are at least 18 years old:
You could lose all the money in your account if you take no action to notify us of the unauthorized transfer or the loss of security or confidentiality of your E-Identification. If you notify us of the loss, your liability for unauthorized transfers will be as follows:
We can extend these time periods if extenuating circumstances (such as a long trip or hospital stay) kept you from notifying us.
You must provide us with the following information:
If you tell us orally, we may require that you send us your complaint or question in writing within ten (10) business days to the above address. We will tell you the results of our investigation within ten (10) business days after we hear from you and will correct any error promptly. If we need more time, we may take up to forty-five (45) days, or ninety (90) days for foreign-initiated or point of sale transactions, or new accounts to investigate your complaint or question. If we decide to do this, we will credit your account within ten (10) business days for the amount you think is in error, so that you will have use of the money during the time it takes us to complete our investigation. If we require your written confirmation and we do not receive your complaint or question in writing within ten (10) business days, we may not credit your account. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error.
If we decide that there is no error, we will send you a written explanation within three (3) business days after we finish our investigation. We may provide you with the results of our investigation electronically if you have agreed to receive electronic communications from us. You may ask for copies of the documents we use in our investigation. If we credit your account with funds while investigating an error, you must repay those funds to us if we conclude that no error has occurred.
In any case, we shall only be liable for actual proven damages if the failure to make the transaction resulted from a bona fide error despite our procedures to avoid such errors.
Transactions made with this Card in foreign currencies and transactions that are classified by MasterCard® as "cross-border transactions" (generally, transactions that are processed outside the United States) are called "foreign transactions." If a foreign transaction is in a foreign currency, it will be posted to your MONEY account in U.S. Dollars. The exchange rate between the foreign currency and U.S. Dollars is a rate selected by MasterCard®. Basically, here's how MasterCard® calculates the exchange rate: they usually start with either a government-mandated currency rate or a wholesale rate as of the day the foreign transaction is processed (i.e., not the date your Young Minor made the purchase and not the date the purchase is posted on your statement).
MONEY is designed specifically for young adults, so the card could be denied at businesses that provide services that could be considered inappropriate for young adults.
And finally! Wow, that was a lot of reading. Congratulations for finishing this! Now you are 100% ready to save your money like never before. Welcome to Capital One.