How to Open a Capital One Bank Account

What you need to open a Capital One account

Capital One lets you open a checking or savings account online, by phone, or in person at a branch. You will need a government-issued ID, your Social Security number, and an initial deposit. The amount required for the initial deposit depends on which account type you choose — some accounts have no minimum, while others require $25 or more.

You will also need a way to fund the account: a debit card, another bank account, or a wire transfer. If you are opening online, you can complete the entire process in about 10 minutes. If you open by phone or in branch, a representative will walk you through the steps and answer questions as you go.

Capital One does not perform a hard credit pull when you open a deposit account, so opening an account will not affect your credit score. The bank does use ChexSystems, a banking history report, to review your account history with other banks — but this is a soft inquiry and does not appear on your credit report.

Key Takeaways

• You can open a Capital One checking or savings account online, by phone, or at a branch using your ID, Social Security number, and an initial deposit.
• The initial deposit amount varies by account type, with some accounts requiring no minimum and others requiring $25 or more.
• Opening a deposit account does not affect your credit score because Capital One does not perform a hard credit pull.
• You will receive your account number and routing number when ready after opening, and can begin using your account right away.
• If you have a history of overdrafts or closed accounts reported to ChexSystems, Capital One may decline your process.

Opening an account online

The online process begins on Capital One's website. You will select whether you want a checking or savings account, then enter your personal information: full name, date of birth, address, phone number, and email. Capital One will ask for your Social Security number and driver's license or state ID number.

Next, you will review the account terms and set up login credentials — a username and password, or biometric login if you are using a mobile device. Capital One will then ask you to verify your identity by answering security questions based on your credit history, or by uploading a photo of your ID.

Once your identity is verified, you will fund the account with your initial deposit. You can link a debit card, connect another bank account for an ACH transfer, or provide wire transfer details. After you submit your deposit information, your account opens when ready and you will see your account number and routing number on screen. You can read statements and set up bill pay right away.

Opening an account by phone or in person

To open an account by phone, call Capital One's customer service number listed on their website. A representative will ask the same questions as the online process: your personal information, Social Security number, and ID details. The phone representative will also verify your identity by asking security questions.

If you prefer to open an account in person, visit a Capital One branch near you. Bring your government-issued ID and Social Security number. A branch representative will complete the process with you, answer any questions about account features, and process your initial deposit on the spot. In-person accounts typically open the same day.

Whether you open by phone or in branch, you will receive your account number and routing number before you leave the call or branch. You can begin using your account when ready, though it may take one to two business days for your initial deposit to appear in your account.

Account types and minimum deposits

Capital One offers several checking and savings accounts, each with different features and deposit requirements. Capital One 360 Checking has no monthly maintenance fee and no minimum opening deposit. Capital One 360 Savings also has no monthly fee and no minimum deposit. Both accounts come with online and mobile banking, bill pay, and access to Capital One's ATM network.

Capital One Money Market accounts combine checking and savings features and typically require a higher opening deposit than basic savings accounts — the exact amount varies and you should confirm the current requirement when you open. Money Market accounts usually offer higher interest rates on savings balances in exchange for the larger deposit.

If you have had banking problems in the past, Capital One also offers a Secured Checking account designed for people rebuilding their banking history. This account requires a security deposit held in a linked savings account, but it reports to ChexSystems and can help you move toward a standard account after 12 months of good account management.

What happens if Capital One declines your process

Capital One may decline your process if ChexSystems shows a history of overdrafts, unpaid fees, or closed accounts at other banks. You can request a copy of your ChexSystems report for free by visiting the ChexSystems website or calling their customer service line. The report will show which banks reported negative information and when.

If you were declined, you have the right to dispute inaccurate information on your ChexSystems report. You can file a dispute directly with ChexSystems by mail or online. If you correct errors and reapply, Capital One may reconsider your process.

If your report is accurate but you still want a Capital One account, you can ask Capital One directly whether they will reconsider. Some applicants are approved after waiting several months or after demonstrating improved banking behavior at another institution. Capital One does not have a formal appeals process, but customer service representatives can sometimes escalate declined applications for a second review.

Setting up direct deposit and transfers

Once your account is open, you can set up direct deposit by providing your employer with your Capital One account number and routing number. Direct deposit typically begins within one to two pay periods. You can also set up automatic transfers between your Capital One account and another bank account you own.

To link an external bank account for transfers, log into your Capital One account online or through the mobile app. Select "Link Account" or "Add External Account" and enter the account number and routing number of the other bank. Capital One will make two small deposits to that account to verify you own it — you will need to confirm the amounts in your Capital One account to complete the link.

Once linked, you can transfer money between accounts when ready or schedule transfers for a future date. Capital One does not charge fees for transfers between your own accounts, though your other bank may charge a fee on their end.

Frequently Asked Questions

How long does it take to open a Capital One account?

Online accounts open in about 10 minutes, and you can use your account when ready. Phone and in-branch accounts also open the same day. However, it may take one to two business days for your initial deposit to clear and appear in your account balance.

Can I open a Capital One account if I have bad credit?

Yes. Capital One does not check your credit score when you open a deposit account. The bank uses ChexSystems, which tracks banking history, not credit history. If your ChexSystems report is clear, you can open an account regardless of your credit score.

What is the routing number for Capital One?

Capital One's routing number is 065000090 for most accounts. However, routing numbers can vary depending on which Capital One division holds your account and your location. Your specific routing number will appear in your account details after you open your account, and you should use that number for direct deposit and transfers.

Do I need to keep a minimum balance in my Capital One account?

Most Capital One checking and savings accounts have no minimum balance requirement. However, some Money Market accounts may have balance requirements to earn the advertised interest rate. Check your account terms or contact Capital One to confirm the balance requirements for your specific account type.

Can I open multiple Capital One accounts?

Yes, you can open more than one Capital One account. Many people open both a checking and savings account, or multiple savings accounts for different goals. Each account will have its own account number and can be managed separately through your online banking.