What you need to start 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 valid government-issued ID (driver's license, passport, or state ID), your Social Security number, and an initial deposit. Most Capital One accounts have no monthly fee, but some require a minimum opening deposit—this varies by account type and changes over time, so check the current terms before you start.

You can open an account with as little as $0 on some checking products, though Capital One may ask for an initial deposit of $25 to $100 on others. If you do not have a Social Security number, Capital One can work with an Individual Taxpayer Identification Number (ITIN) in some cases—call 1-800-655-9060 to ask about your situation.

Capital One will run a check through ChexSystems, a banking history database, to see if you have had problems with previous accounts. If you have been flagged for fraud, excessive overdrafts, or unpaid fees at another bank, Capital One may deny your application. You can request your own ChexSystems report for free at www.chexsystems.com if you want to know what they will see.

Key Takeaways

  • You need a valid ID, Social Security number, and an initial deposit (often $0 to $100) to open a Capital One account online or by phone.
  • Capital One checks ChexSystems, a banking history database, so past overdrafts or fraud at other banks may result in denial.
  • Online applications take minutes and you can start using your account within one business day in most cases.
  • If you are denied, ask Capital One why—ChexSystems errors happen, and you can dispute them.

Opening an account online

Go to capitalone.com and select the account type you want: 360 Checking, 360 Money Market, or 360 Savings. Click the button to open the account and answer questions about your identity, address, employment, and income. Capital One will ask for your Social Security number and date of birth to verify who you are.

You will need to link a bank account or debit card to fund your new Capital One account. This is where your initial deposit comes from. Capital One accepts transfers from most U.S. banks and credit unions. The transfer usually arrives within one to two business days, though some banks take longer.

After you submit your application, Capital One will tell you right away whether you are approved. If approved, you will receive a temporary account number immediately and can start using your account online. Your debit card will arrive by mail in seven to ten business days. If you need cash before the card arrives, you can withdraw from a Capital One branch or ATM using your account number.

Opening an account by phone or in person

Call Capital One at 1-800-655-9060 to open an account over the phone. A representative will walk you through the same questions as the online form and can answer questions about account features, fees, and interest rates. Phone applications take about 15 to 20 minutes. You will still need to link a bank account or debit card to make your initial deposit.

If you prefer to open an account in person, find a Capital One branch near you using the branch locator at capitalone.com. Bring your ID, Social Security number, and a debit card or checkbook from another bank so you can make your initial deposit. In-person applications are approved on the spot, and you can leave with a temporary debit card or account number the same day.

What happens if your application is denied

Capital One will send you a letter explaining why your account was denied. Common reasons include a ChexSystems flag, too many recent hard inquiries on your credit report, or an address that does not match government records. The letter will include contact information for ChexSystems so you can request a free copy of your report and dispute any errors.

If the denial was due to ChexSystems, you have the right to know what is in your file. Request your report at www.chexsystems.com or call 1-800-428-9623. If you find an error—a closed account listed as open, a fraud claim you did not make, or a charge-off that was paid—you can file a dispute with ChexSystems. They have 30 days to investigate and correct it.

If Capital One denies you and you cannot fix the ChexSystems issue quickly, consider a second-chance banking account at another bank while you work on the dispute. Many credit unions and regional banks offer accounts to people with banking history problems. Once your ChexSystems report is corrected, you can reapply to Capital One.

Funding your account and setting up direct deposit

After your account opens, you can fund it by transferring money from another bank account, depositing a check through the mobile app, or visiting a Capital One branch with cash. Transfers from other banks usually arrive within one to two business days. Mobile check deposit takes one to two business days to clear.

If your employer or a government agency (Social Security, unemployment, tax refund) sends you money, you can set up direct deposit to have it land in your Capital One account automatically. Ask your employer or agency for Capital One's routing number (it is 051000017 for most Capital One accounts) and your new account number. Direct deposit usually starts within one to two pay periods.

Fees and account features to know

Capital One's 360 Checking account has no monthly maintenance fee, no minimum balance requirement, and no overdraft fees—if you do not have enough money, the transaction is declined rather than charged. The 360 Money Market and 360 Savings accounts also have no monthly fee and earn interest on your balance. Interest rates change with the market, so check capitalone.com for the current rate.

Capital One does charge fees for certain actions: wire transfers cost money, and if you exceed six withdrawals per month from a savings account, you may face a fee (this is a federal rule, not just Capital One). ATM withdrawals are free at Capital One ATMs and at most Allpoint network ATMs worldwide. Out-of-network ATM fees vary by the ATM owner, not Capital One.

Frequently Asked Questions

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

Online and phone applications are approved within minutes. You can use your account online immediately, though your debit card arrives by mail in seven to ten business days. In-person applications at a branch are approved on the spot.

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

Capital One does not check your credit score to open a checking or savings account. They check ChexSystems instead, which tracks banking history, not credit history. Bad credit does not disqualify you, but past overdrafts, fraud, or unpaid fees at another bank might.

What is the minimum deposit to open a Capital One account?

Most Capital One checking accounts require $0 to open. Some savings and money market accounts may require $25 to $100. Check the specific account terms on capitalone.com before you apply, as minimums change.

Can I open a Capital One account without a Social Security number?

Capital One typically requires a Social Security number. If you have an ITIN instead, call 1-800-655-9060 to ask whether you can open an account. Policies vary, and a representative can tell you what documents you will need.

What should I do if Capital One denies my application?

Ask Capital One for the reason in writing. If it is a ChexSystems issue, get your free report at www.chexsystems.com and dispute any errors. If the denial was for another reason, you can reapply after 30 days or explore second-chance banking accounts at other banks while you resolve the problem.