![]() ![]() It launched in 1994, and the original founder (Richard Fairbank) still serves as the Chairman and CEO of the company, which is based out of McLean, Virginia. Doesn’t appear to offer money market accountsįor such a new bank, Capital One has grown rapidly.Very high customer satisfaction ratings.Capital One was the first major bank to nix all overdraft fees, and it doesn’t charge monthly maintenance fees for any of its accounts.Capital One offers a suite of bank accounts, including checking, high-yield savings, and CDs.Power rated Capital One as the best nationwide bank with the best mobile banking app. Capital One is the ninth-largest bank in the country, operating mostly online but with a few scattered in-person locations.How to open an account with Capital One.Sometimes, just getting a clearer picture of what’s coming in–and what’s going out–can help you stay ahead of the game. If you’re dealing with overdrafts more than you’d prefer, it may help to create a simple budget. Knowing you have options can put you in a better position to manage your money and hopefully avoid getting into the red. Ask for help: Check with your bank to see what other tools may be available to help keep your account in the black.ĭealing with an overdraft is a bummer, but mistakes happen.Make it your new "zero balance." That way, if you slip up (and it happens), there’s already a cushion in place. Build a buffer: Think about adding a certain amount, such as $100, to your checking account.It will only take a minute and will help you stay on top of your money all month long. Check in regularly: Make a habit of checking your account balance from your phone every day.You’ll be able to shift funds from a different account, or make a deposit before the balance dips into the danger zone. Get alerts: Ask your bank to tell you if your checking account drops to a certain level.Luckily, there are plenty of nifty tools to help you avoid an overdraft. But you’ll have to compare the fees that come along with each situation to make the best decision. One benefit of overdraft protection is that you might avoid a hefty fee added to a late payment, such as a house or car payment. ![]() If your checking or savings account can’t cover a charge, the balance would be placed on your credit card for you to pay off later. Credit card link: Linking your checking account to a credit card is possible, too.Since it’s really a loan, you’ll have to pay interest on the money covering your overdraft, but it may amount to less than typical overdraft fees. You may even be able to use this account in an emergency. Line of credit: With an overdraft line of credit, the bank will loan you the amount needed to cover the transaction.Sometimes, this overdraft option can be free. This way, if you’re overdrawn, the bank will move funds from your savings into your checking to cover the difference. Savings link: You can link your checking account to another account at your bank, such as your savings.Here are some other overdraft options to think about: 1 But if you try to spend more than you have, the purchase generally won’t go through. If you don’t agree to overdraft protection ahead of time, you can’t be charged a fee. If you want to get overdraft protection, you have a few options, but many involve fees, so don’t be afraid to ask for details. ![]()
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