Chase Bank vs. Capital One 360:
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For starters, we have the Chase everyday total checking account. They also have the everyday secure account as well as the more premium sapphire and private client account options but for most of us that is just not necessary. Now with the everyday total checking account, there is a $12.00 monthly fee which stinks however this can really easily be waived. Outside of those physical locations they also have 16,000 free to use ATMs and they offer a lot of awesome features through the Chase online banking portal such as bill payments, automatic savings transfers, and a partnership with Zelle that allows you to send or receive money through pretty much any bank account in the US which is awesome. And lastly, perhaps the biggest benefit with the chase everyday checking account is they are currently offering a $225 sign-up bonus when you open an account and set up direct deposit. The huge disappointment that seems to be consistent with most national banks is that the chase savings account currently only pays 0.01% which is absolutely terrible but considering they have to maintain those expensive brick and mortar locations, that's kind of normal with these national banks.
Capital One offers separate checking and savings accounts and we're going to start off with the Capital One 360 checking account. This account has no monthly fees and there are no hoops to jump through in order to get the fee waived so already that is a huge advantage for Capital One. Capital One currently only has 2084 locations as well as a number of Capital One cafes that they are expanding so definitely fewer brick and mortar locations when compared to chase however they recently added a ton of new ATM's to the network and they now offer over 70,000 free to use ATMs which is significantly more than the 16,000 that chase offers. Similarly, they also offer a ton of great features through their online banking portal including automatic transfers, the exact same Zelle partnership that chase offers, and the ability to get paid up to two days early. The biggest advantage that Capital One has over a ton of other banks when it comes to their savings account is they are currently paying you 0.4% interest which is 40 times what Chase and most other national banks are currently paying.
The first major difference that sticks out to me is the fact that Chase has that $12.00 monthly fee and while you are able to easily get that waived, I love the fact that Capital One doesn't even bother charging a fee, to begin with. One other big difference is that Chase does have more physical brick and mortar locations but Capital One has significantly more free-to-use ATMs. And lastly, the only other major difference between these two is obviously the awesome interest rate that Capital One is currently offering. Now obviously interest rates are constantly changing but again at the time of recording this video, Capital One is offering 0.4% while Chase is offering just 0.01%.
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