HERE'S WHAT YOU NEED TO KNOW ABOUT Capital One 360 DEPOSIT PRODUCTS
The Basics: First things first - whenever you see "Capital One 360®", it means Capital One 360, a division of Capital One, N.A. Now, here's a quick overview of how your account with Capital One 360 works. You can open an account in your name alone, in your name and the name of one other person, or in the name of an existing living trust. You "link" your Capital One 360 account to a personal (non-business) checking account at another U.S. chartered bank ("Linked Account") - that's the way you make deposits to and withdrawals from your account with us. When you want to make a deposit, you can use our automated phone system, our sales and service call center, or ... the easiest thing to do is use our website - www.capitalone360.com. Tell us to transfer money between your eligible Capital One, N.A. accounts, and between your Linked Accounts and your Capital One 360 accounts. It's that simple! Now that you have the basics, here are the detailed terms that govern your Capital One 360 account ("Terms"). Please understand that when you submit an application, open an account or use our services, you agree to be bound by these Terms. When you see the words "you" and "your", they mean each person who owns an account or each trustee who is legally entitled to manage an account. "Our", "us", "we" mean Capital One 360, a division of Capital One, N.A..
Who Can Open an Account: You can open a deposit account with us if you are a citizen or permanent resident (per the U.S. Citizenship and Immigration Services) of the 50 United States and the District of Columbia (the "U.S."), have a social security number and U.S. address. Taxpayer IDs ("TINs") are not acceptable and your Linked Account must be with a bank chartered in the U.S.
How to Open an Account: You must tell us to either electronically transfer money from your Linked Account or give us a personal check drawn on your Linked Account. For your security, we will verify that you're the owner of the Linked Account. If you open your account through our website, we'll place a temporary hold on your deposit(s) until you complete our verification procedures. In addition, if you are opening an account in the name of an existing living trust, completion of the verification process is subject to our confirmation of the existence of the living trust. You agree that we may, from time to time, obtain credit information about you from credit reporting agencies. We will use this information to update our information on you and to better service you as a Customer.
It's Simple to Make Deposits: For all accounts except IRA Accounts, you can make deposits by calling us; by using our website to transfer funds from another eligible Capital One, N.A. account or a Linked Account; by mailing us a check; or, if we permit them, by initiating an Electronic Funds Transfer or wire transfer to your account. For IRA Accounts, you may only make deposits (also called contributions) by using our website (however, in some cases we may allow you to make deposits by providing us with a properly completed contribution form). You can get this form by visiting capitalone360.com and printing one out or by writing to us. Don't send cash! Checks you deposit must be payable to you (or to the living trust in the case of a trust account) and list your account number. It's up to you to make sure that your deposit reaches us and that we know where you want the deposit to go. If you don't do both of these things, you'll be responsible for any loss that results. Transactions that you conduct on Saturday, Sunday or a Federal holiday are effective the following business day.
We may limit or refuse any part of a deposit. If an item you deposit is returned to us unpaid or is otherwise charged back to us, we will charge it back to your account. Generally, you can't withdraw a deposit for 5 business days. However, when you first open your account, you won't be able to withdraw any money for the first 10 business days. As with all non-cash deposits, interest will begin to accrue no later than the next business day after the banking 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.) Also, we reserve the right to return any deposit to you that causes the combined balance of all of your accounts with us (including any jointly owned, or in the case of an account owned by a living trust, jointly managed accounts) to exceed $5,000,000.
It's Also Simple to Make Withdrawals: For all accounts except IRA Accounts, you can request a withdrawal from your account by calling us or by using our website. For IRA Accounts, you may only make withdrawals (also called distributions) by using our website (however, in some cases we may allow you to make withdrawals by providing us with a properly completed distribution form). You can get this form by writing us to request one. If we process a withdrawal or IRA distribution request for you, generally, the funds will reach your Linked Account within 2-3 business days (for IRA distributions, we may send you a check). You can't make a partial withdrawal from a Certificate of Deposit or IRA Certificate of Deposit.
We may allow you to make a wire transfer from your account. If we do, we may charge you for using this service and the charge will be deducted from your account at the same time we deduct the amount of the wire. We may also limit the amount that you can send, the number of wires you can send each day, and where we will allow you to send the wire (for example, we may only allow you to send a wire to your Linked Account). You may not stop or cancel a wire transfer request after it has been submitted to us.
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. 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.
Types of Account Ownership:
- Individual Account. This type of account is owned by one person only, and only that person can take money out.
- Joint Account. This type of account is owned by two 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). If a husband and wife own the account, the legal term for how they own it is as "tenants by the entireties"; otherwise, the owners of the account are called "joint tenants". Any owner of the account may: (i) withdraw or transfer the balance without the other owner's consent; (ii) make deposits, close or pledge the account to us as collateral for a debt owed to us; and (iii) endorse and deposit checks payable to any joint owner. Your obligations under this agreement are joint and several.
- Kids Account. This type of account is owned by 1 minor (under age 18) and 1 adult and the owners of the account are called "joint tenants". Except for certain benefits like Social Security, if 1 person dies, the money in the account then belongs only to the survivor (and not to the estate of the deceased person). Any owner of the account may: (i) withdraw or transfer the balance without the other owner's consent; (ii) make deposits, close or pledge the account to us as collateral for a debt owed to us; and (iii) endorse and deposit checks payable to any joint owner. Your obligations under this agreement are joint and several. When the minor reaches the age of 18, this account will automatically be considered a Joint Account. A Certificate of Deposit cannot be titled as a Kids Account.
- Living Trust Account. This type of account is owned by a living trust and is managed by no more than 2 trustees, at least 1 of which must be a grantor-trustee. If the account is managed by 2 trustees ("Co-Trustees"), either Co-Trustee may: (i) withdraw or transfer the balance without the other Co-Trustee's consent; (ii) make deposits, close or pledge the account to us as collateral for a debt owed to us; and (iii) endorse and deposit checks payable to either Co-Trustee or the living trust. Each trustee understands and agrees that (s)he, and not Capital One 360, owes a fiduciary responsibility to the living trust and as such, shall manage the account in accordance with the terms of this agreement, the trust document(s) and any applicable laws. The obligations of Co-Trustees under this agreement are joint and several.
- IRA Account. This type of account is owned by 1 person only, and only that person can take money out. IRA Accounts are considered individual retirement accounts and are subject to all relevant IRS Rules and Regulations. IRA Accounts are also subject to the separate IRA agreements and disclosures provided to you when you open an IRA Account. Deposit products that are IRA Accounts are called the IRA Savings Account and the IRA Certificate of Deposit and are subject to the same applicable terms and restrictions as 360 Savings® and Certificate of Deposit described below.
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. Any accounts for which you are an owner or manager (Living Trust) will appear in your online banking profile.
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.
We're Serious About Security:
To protect your privacy and money, all Capital One 360 Customers either receive or select a Password or a personal identification number ("PIN") and other access information when they open an account with us (collectively, "E-Identification"). You'll use your E-Identification to access your account(s) and you must keep your E-Identification confidential and secure! If you give your E-Identification to anyone, like a Co-Trustee, or if you handle your E-Identification in a way that makes it easier for someone to use them without your permission, you may be responsible for any loss that stems from that disclosure or handling.
- Limits on Withdrawals/Transfers from Your 360 Savings: Pursuant to Federal law, you're only allowed to take money out of your 360 Savings 6 times per monthly statement cycle ("Cycle"). If you repeatedly make more than 6 withdrawals during a Cycle, we may close your account. Under Federal law, we must reserve the right to require you to give us at least 7 days written notice before you take money out of your 360 Savings. (This hardly ever happens but legally we have to say it!)
- Automatic Savings Program ("ASP"): By signing the ASP form or enrolling online, you authorize Capital One 360 and your other bank(s) to debit your account(s) at the bank(s) now and in the future, in accordance with your instructions and under the terms and conditions agreed to with Capital One 360.
- Overdrafts: You're not allowed to overdraw your 360 Savings and you agree not to withdraw more money than what is available at the time.
Details about the Certificate of Deposit: Our Certificate of Deposit is a "non-certificate" time deposit. It's opened for a specific amount of time at a fixed rate of interest. When you open a Certificate of Deposit, you agree to keep your funds on deposit for a stated amount of time. We'll allow you to redeem your Certificate of Deposit early, but in most cases, you'll be penalized if you do. We'll give you details about the early withdrawal penalty in the disclosures we send you about your new Certificate of Deposit. Depending on how early you redeem your Certificate of Deposit, the penalty could be greater than the interest you've earned on your deposit. If any Certificate of Deposit owner dies or is declared legally incompetent, the Certificate of Deposit can be redeemed early, without penalty. You can't add to a Certificate of Deposit after it's opened and you can't make withdrawals from the principal. However, assuming that you have completed our verification procedures, you may choose to have your interest electronically disbursed to an account that is acceptable to us. Other account terms will be disclosed when you open a Certificate of Deposit.
Things You Tell Us to Do: We may refuse to follow any of your instructions if we think they are illegal or potentially harmful to us. Or, we may take or require other security measures to protect us from any losses we may suffer if we follow your instructions. You agree to pay us back for any damages or losses (including, but not limited to, the reasonable costs of an attorney) that we suffer if we take an action based on your (or what appears 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 by 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 will be sent to the last address in our records, which may include a forwarding address given to us by the U.S. Postal Service ("USPS"). Even if you have elected to receive communications from us electronically, there may still be some legal information that we need to send you via the USPS.
Telephone Monitoring: You agree that your telephone calls with us may be monitored and recorded to improve service and security.
Closing an Account: You can close your account at any time, for any reason. We can close your account at any time, for any reason and without advance notice.
State laws (called "escheat" laws) require us to close all your deposit accounts and transfer your money to the state if your accounts are dormant (meaning there's no activity on the accounts and you haven't contacted us) for a certain period of time. We want you to keep your money, not the state! You can avoid the transfer of your money to the state simply by logging into your account or calling us at least once a year. You agree that we may rely on third parties, such as the US Postal Service, to update the contact information that we have on record for you.
Here Comes the REALLY Hardcore Legal Stuff
Assignment: No part of an account may be pledged, assigned, given as a gift, or otherwise transferred to a third party without our prior written consent.
How We Handle Items You Send Us: We won't be liable for checks or other items ("Checks") that are lost in the mail or for any default or negligence by a bank we may use to collect your Checks. When you send us Checks to be deposited into your account, we act as your collection agent and assume no responsibility beyond the exercise of reasonable care.Lien and Set-Off: Unless your account is an IRA Account, 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 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 to/Waiver of Terms: We can add to, delete or make any other changes ("Changes") we want to these Terms at any time. You and your account will be bound by the Changes as soon as we implement them. If the Change isn't in your favor, before it's implemented, we'll let you know about it as required by law. However, if applicable law requires us to make a Change, you may not receive any prior notice. We can cancel, change or add products, accounts or services whenever we want. Notice of any such changes, additions or terminations will be provided as required by law. We can waive any of our rights under these Terms whenever we want, but this doesn't mean that we'll waive the same rights in the future.
No Fiduciary Obligation: Capital One 360 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.
Governing Laws and Regulations: Your accounts are subject to Federal and Delaware state law, any applicable operating circulars or clearing house rules, and the rules and regulations of our supervisory authorities ("Applicable Laws"). If there's a conflict between these Terms and the Applicable Laws, these Terms will be changed to the extent necessary to comply with the Applicable Laws. If any provision of these Terms is declared invalid, unenforceable, or illegal, that provision won't change the validity of any other provisions of these Terms.
Levies, Attachments, and Other Court Processes: If we receive a levy, attachment, or other Court process against you or another owner of the account, we may refuse to permit withdrawals or transfers from your account until the legal action is dismissed or satisfied. Any levy, attachment, or other Court process will be subject to our rights of Lien and Set-Off (remember, we talked about these things earlier). You are 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.
Death, Incompetency 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: Any notice that you give to us will be effective when we actually receive it. Any notice that we give to you will be effective when we mail or email it to you, using the address we have on file. Notice to any one account owner is notice to all account owners.
Jury Trial Waiver: SUBJECT TO APPLICABLE LAW, YOU AND WE AGREE TO GIVE UP OUR RIGHTS TO A TRIAL BEFORE A JURY. Disputes will be resolved either through Arbitration or in Court, in either case, without a jury.
Limits to Our Liability: We'll make all reasonable efforts to give you access to your accounts and accurate information. However, you agree that we're not responsible for any interruption in service or loss caused by things that are beyond our control, such as a natural disasters, wars, riots, strikes, computer failures, or losses of power, communications or transportation facilities. We won't be responsible for any direct losses or damages resulting from use of the account, unless we were negligent or acted in bad faith. We're never responsible for any indirect, special or consequential losses or damages.
Electronic Fund Transfer Disclosure Statement
The purpose of this disclosure statement is to inform you of your rights under the Electronic Fund Transfer Act. The Electronic Funds Transfers 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" and "Capital One 360" refer to Capital One 360, a division of Capital One, N.A.
- ELECTRONIC FUND TRANSFER SERVICES. The electronic fund transfer services that are available to you when you open certain accounts other than IRA Accounts with us are as follows:
- Direct deposit of Federal Government payroll, disability, veteran's benefits, Social Security and such other Federal Government payments that you may receive and that may be deposited to your savings account, when available.
- Direct deposit of your paycheck to your savings account, provided that your employer offers direct deposit and you complete any forms required by your employer.
- Transfer funds between your eligible Capital One, N.A. accounts and between your Linked Accounts and your Capital One 360 accounts via the Internet or by calling our call center, using your Personal Identification Number ("PIN")/Password.
- Transfer funds from your Capital One 360 accounts to make payments to your loan account at Capital One 360 via the Internet or by calling our call center, providing your Password/PIN and instructions.
- Any other deposit to your savings account which is handled electronically, such as an automated clearing house transaction.
- Transfer of funds as instructed by your use of a debit card that may be issued to you.
The electronic fund transfer services that are available to you when you open an IRA Savings Account are as follows:
- Transfer funds between your Capital One 360 accounts and between your Capital One 360 accounts and the checking accounts at other financial institutions that are linked to your Capital One 360 accounts ("linked accounts") via the Internet.
The electronic fund transfer services that are available to you when you open an IRA Certificate of Deposit Account are as follows:
- Transfer funds between your IRA Certificate of Deposit Account and your IRA Savings Account.
- CHARGES FOR ELECTRONIC TRANSACTIONS. We do not charge a fee for our electronic fund transfer services. We reserve the right to add charges at a later time and will notify you if we do so as required by law.
- ACCOUNT TRANSFER LIMITATIONS. You may only transfer funds out of your savings account(s) up to six (6) times per monthly statement cycle using any combination of our electronic fund transfer services; no more than three (3) of these transfers may be made by debit card. You are not limited in the number of transfers that you may make into your savings account(s). These transfer limitations are imposed to comply with Federal Law.
- RECORD OF TRANSACTIONS.
- Pre-authorized credits. If you have arranged to have direct deposits to your account at least once every sixty (60) days from the same person, entity or company, for example, your employer, you can call us at 1-888-464-0727 or access our website (www.capitalone360.com) through the Internet to find out whether or not the deposit has been made.
- Periodic statements for all electronic fund transfers described in this Disclosure. You will receive a monthly account statement showing the status of your account(s) and electronic transactions that you made during the past month. Unless you have a loan with Capital One 360, you may only receive a quarterly statement if no electronic transactions occur.
- HOW TO CONTACT US. If you believe your Password/PIN is no longer secure or confidential, or that someone has conducted or may conduct an electronic funds transfer without your permission, please contact us immediately by accessing our website (www.capitalone360.com) through the Internet or calling or writing us at: Capital One 360, PO Box 60, St Cloud MN, 56302-0060, 1-888-464-0727 .
- LIABILITY FOR UNAUTHORIZED TRANSFERS. CONTACT US IMMEDIATELY if you believe that an unauthorized transfer has occurred or may occur concerning your account(s) or that your Password/PIN is no longer secure or confidential or may have been used without your permission. Telephoning us at 1-888-464-0727
is the best way of keeping your losses to a minimum. If you telephone us, we may require that you send us written confirmation of your notice to be received by us within ten (10) business days of your phone call. You may also notify us through our website (www.capitalone360.com) but we may also require that you send us written confirmation of your notice to be received by us within ten (10) business days of your electronic notice to us.
You could lose all the money in your account(s) if you take no action to notify us of the unauthorized transfer or the loss of security or confidentiality of your Password/PIN. If you notify us of the loss, your liability for unauthorized transfers will be as follows:
- If someone else used your Password/PIN without your permission, you could lose as much as $500 if you do NOT contact us within two (2) business days after you learn of the loss or unauthorized use and we can prove that we could have prevented the loss had you contacted us.
- If your monthly statement shows transfers that you did not make and you do NOT contact us within sixty (60) days after the statement was mailed to you or first became available via electronic means if you elected to receive your statement electronically, you may not get back any money lost after the sixty (60) days if we can prove that your contacting us would have prevented those losses.
We can extend these time periods if extenuating circumstances (such as a long trip or hospital stay) kept you from notifying us.
You agree that you will not reveal your Password/PIN to any person not authorized by you to use it and will not leave your computer terminal unattended after you have logged in using your Password/PIN or other confidential information.
- IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR TRANSACTIONS. Telephone us at 1-888-464-0727
, write to us at Capital One 360, PO Box 60, St Cloud MN, 56302-0060, or send us an electronic communication through the Internet at our website (www.capitalone360.com) as soon as you can if you think your statement or transaction record is wrong or if you need more information about a transaction listed on a statement or receipt. We must hear from you no later than sixty (60) days after the FIRST statement on which the problem or error appeared was mailed to you or first became available via electronic means if you elected to receive your statement electronically.
You must provide us with the following information:
- Tell us your name and account number or Customer identification number;
- Describe the error or the transaction you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information; and
- Tell us the dollar amount of the suspected error.
If you tell us orally or through electronic communication, 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 or twenty (20) business days for international transactions (a electronic funds transaction initiated outside the United States or Puerto Rico), after we hear from you and will correct any error promptly. If we need more time, however, we may take up to forty-five (45) days, or ninety (90) days for international transactions, to investigate your complaint or question. If we decide to do this, we will recredit your account within ten (10) business days, or twenty (20) business days in the case of an international transaction, 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 recredit your account.
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. 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.
We may provide you with the results of our investigation electronically if you have agreed to receive electronic communications from us.
- STOP PAYMENT PROCEDURE. You may not stop payment of an electronic transfer that is not recurring once you have initiated the transaction. If you informed us, in advance, to make automatic recurring transfers out of your account, you can stop any of these transfers by calling us at 1-888-464-0727
, writing us at Capital One 360, PO Box 60, St Cloud MN, 56302-0060, or sending us an electronic communication through the Internet at our website (www.capitalone360.com) in time for us to receive your request three (3) business days or more before the transfer is scheduled to be made. When you make the request, you must tell us your name and account number, the account to which the transfer is scheduled to be made, specify the exact amount of the transfer you want stopped, and the date the transfer is scheduled to be made. If you call or send us an electronic communication, we may require you to put your request in writing within fourteen (14) days after you call or send us the electronic communication.
If you ordered us to stop one of these transfers three (3) business days or more before the transfer is scheduled and we do not do so, we will be liable for your losses or damages, unless we require and do not receive written confirmation of an oral or electronic stop payment request within the fourteen (14) days and the transfer takes place after the fourteen (14) days, or you fail to give us proper instructions that would enable us to stop the transfer. We will not be responsible if our computer system does not act on your order because you did not give us precise and correct information. Our liability for losses or damages may be limited to actual damages that you have sustained if the failure to stop payment was due to a bona fide error, despite our procedures to avoid such errors.
- BUSINESS DAYS. Our business days include every day other than Saturday, Sunday or one of the Federal Holidays or other days we are closed.
- DISCLOSURE OF ACCOUNT INFORMATION TO THIRD PARTIES. We shall disclose information to third parties about your account or the transfers you make:
- Where it is necessary to complete transactions;
- In order to verify the existence and standing of your account with us upon the request of a third party, such as a credit bureau;
- In accordance with your written permission;
- In order to comply with court orders or government or administrative agency summonses, subpoenas, orders, examinations and escheat reports; and/or
- On receipt of certification from a federal agency or department that a request for information is in compliance with the Right to Financial Privacy Act of 1978.
- OUR LIABILITY FOR FAILURE TO COMPLETE AN ELECTRONIC FUND TRANSFER. If we fail to complete a transaction on time or in the correct amount, when properly instructed by you, we will be liable for damages proximately caused by our failure unless:
- There are insufficient funds in your account to complete the transaction through no fault of ours;
- The funds in your account are unavailable;
- The funds in your account are subject to legal process;
- We did not receive a direct deposit instruction;
- The failure is due to an equipment breakdown that you knew about before you began a transaction;
- The failure was caused by an Act of God, fire or other catastrophe, or any other cause beyond our control despite reasonable precautions that we have taken;
- Your Password/PIN has been reported lost or stolen or and you are using the reported/suspended Password/PIN;
- We have reason to believe that the transaction requested is unauthorized;
- You attempt to complete a transaction which is not a permissible transaction listed above; or
- You did not provide us with the correct account information for those accounts to which you wished to direct a transfer.
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.
- LIMITATION OF OUR LIABILITY. UNLESS OTHERWISE REQUIRED BY LAW, WE WILL NOT BE RESPONSIBLE FOR ANY LOSSES OR DAMAGES FROM THE USE OF THE SERVICES DESCRIBED IN THIS DISCLOSURE STATEMENT INCLUDING DIRECT, INDIRECT, SPECIAL OR CONSEQUENTIAL LOSSES OR DAMAGES.
IRA SAVINGS ACCOUNT TRUTH IN SAVINGS DISCLOSURES
Initial Deposit Requirement - There is no minimum deposit required to open the account.
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 with an APY of . Your Interest Rate and APY may change. At our discretion we may change the Interest Rate for your account at any time.
Compounding and Crediting - Interest on your account will be compounded and credited on a monthly basis.
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 Non-Cash 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.
Fees - If we agree to process a wire transfer for you, the cost per transaction will be up to $40.00. A statement duplication charge of $5 per statement may be charged for statements generated within the last 2 years.
Transaction Limitations - You may only transfer funds out of your savings account to other accounts you have with us or to your linked account up to six times per monthly statement cycle using any combination of preauthorized, telephone and automatic transfer services. You are not limited in the number of transfers that you may make out of your account to repay loans at our Bank. If you exceed this limit on more than an occasional basis, we will close your account or transfer your funds to a transactional account. Wire transfers, if we agree to process them for you, are limited to $25,000 per day. We may also limit the number of wire transfers you can send each day.
Effect of Closing an Account - If you close your account before interest is credited, you will receive the accrued interest.
IRA CD ACCOUNT TRUTH IN SAVINGS DISCLOSURES
Initial Deposit Requirement - There is no minimum deposit required to open or maintain a Certificate of Deposit account.
Interest Rates and Annual Percentage Yields - Effective as of
Compounding and Crediting - Interest will be compounded and credited on a monthly basis.
Withdrawals - We will not permit partial withdrawals of principal during the term of the account.
Withdrawal of Interest Prior to Maturity - The APY assumes all interest will remain on deposit until maturity. Any withdrawal will reduce earnings.
Payment of Interest - If you authorize us to make regular transfers of earned interest from your CD account, your first transfer will be the amount you should expect each period, varying by no more than 10%, unless you make a significant addition to or subtraction from the principal amount.
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 Non-Cash 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.
Additional Deposits - Additional deposits (other than credited interest) are not permitted during the term of the account.
Renewal Policy - The account will automatically renew at maturity for a time period equal to the original term. The interest rate for each renewal term will be the rate currently offered on the maturity date.
Early Withdrawal Penalty - If you redeem a Certificate of Deposit prior to maturity, you will incur an early withdrawal penalty. The early withdrawal penalty for a Certificate of Deposit with a term of twelve(12) or fewer months is three (3) months interest regardless of when, prior to maturity, you redeem the account. The early withdrawal penalty for a Certificate of Deposit with a term greater than twelve (12) months is six (6) months interest regardless of when, prior to maturity, you redeem the account. Depending on how early you redeem a Certificate of Deposit, the penalty for early redemption may be greater than the interest you have earned on your account.
Grace Period - Notwithstanding the above, you may redeem your time deposit or change the amount or term within ten (10) calendar days after the maturity date without penalty.
|FACTS||WHAT DOES CAPITAL ONE®
DO WITH YOUR PERSONAL INFORMATION?
|Why?||Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do.|
|What?||The types of personal information we collect and share depend on the product or service you have with us. This information can include:
|How?||All financial companies need to share customers' personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers' personal information; the reasons Capital One chooses to share; and whether you can limit this sharing.|
|Reasons we can share your personal information||Does Capital One share?||Can you limit this sharing?|
|For our everyday business purposes – such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus||YES||NO|
|For our marketing purposes – to offer our products and services to you||YES||NO|
|For joint marketing with other financial companies||YES||NO|
|For our affiliates' everyday business purposes – information about your transactions and experiences||YES||NO|
|For our affiliates' everyday business purposes – information about your creditworthiness||YES||YES|
|For our affiliates to market to you||YES||YES|
|For nonaffiliates to market to you||YES||YES|
|To limit our sharing||
If you are a new customer, we can begin sharing your information 30 days from the date we sent this notice. When you are no longer our customer, we continue to share your information as described in this notice.
However, you can contact us at any time to limit our sharing.
|Questions?||Go to www.capitalone.com/contactus Opens a new window|
|Who we are|
|Who is providing this notice?||Our affiliates include financial companies with the Capital One, Chevy Chase, Onyx, and Greenpoint names, such as Capital One Bank (USA), National Association; and Capital One, National Association.|
|What we do|
|How does Capital One protect my personal information?||To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings.|
|How does Capital One collect my personal information?||We collect your personal information, for example, when you
|Why can't I limit all sharing?||Federal law gives you the right to limit only
|What happens when I limit sharing for an account I hold jointly with someone else?||Your choices will apply to everyone on your account.|
|Affiliates||Companies related by common ownership or control. They can be financial and nonfinancial companies.
|Nonaffiliates||Companies not related by common ownership or control. They can be financial and nonfinancial companies.
|Joint marketing||A formal agreement between nonaffiliated financial companies that together market financial products or services to you.
|Other important information|
|CA and VT Residents: We will not share your information with companies outside of Capital One, except for our everyday business purposes, for marketing our products and services to you, or with your consent.
VT Residents only: We will not disclose credit information about you within or outside the Capital One family of companies except as required or permitted by law.
NV Residents: Notice provided pursuant to state law. To be placed on our internal Do Not Call List, call 1-888-817-2970. If you would like more information about telemarketing practices, you may contact us at Capital One, P.O. Box 30285, Salt Lake City, UT 84130-0285 or firstname.lastname@example.org. For more on this Nevada law, contact Bureau of Consumer Protection, Office of the Nevada Attorney General, 555 E. Washington St., Suite 3900, Las Vegas, NV 89101; Phone number: 1-702-486-3132 ; e-mail: BCPINFO@ag.state.nv.us.
Telephone Communications: All telephone communications with us or our authorized agents may be monitored or recorded.
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 360.