Hey there! Looking to access your hard-earned money from your Capital One 360 Savings account? You've come to the right place! It's smart to know exactly how to get your funds when you need them, whether it's for a big purchase, an emergency, or simply transferring to your checking account for everyday spending.
Capital One 360 Savings accounts are known for their competitive interest rates and no monthly fees, but like all savings accounts, they aren't designed for constant withdrawals. However, Capital One makes it quite convenient to move your money when you need it. Let's dive into the various ways you can get your money out, step-by-step.
Step 1: Identify Your Transfer Needs
Before we jump into the "how-to," let's consider what you want to do with your money. Are you:
Transferring to a Capital One 360 Checking account? This is often the quickest and easiest method.
Moving money to an external bank account? This is common if you have your primary checking elsewhere.
Needing cash right away? We'll explore options for immediate access.
Looking to send a larger sum via wire transfer? This is a specific process for significant amounts.
Understanding your goal will help you choose the most efficient method.
Step 2: Transferring to a Linked Capital One 360 Checking Account
This is by far the most straightforward and fastest way to access your funds. If you have a Capital One 360 Checking account, you can transfer money to it seamlessly.
Sub-heading: Online Banking Portal
Log In to Your Account:
Open your web browser and go to the Capital One website (capitalone.com).
Click on "Sign In" and enter your username and password.
Tip: If you have trouble logging in, use the "Forgot Username" or "Forgot Password" links.
Navigate to Transfers:
Once logged in, you'll see an overview of your accounts.
Select your Capital One 360 Savings account.
Look for an option like "Transfer" or "Transfer Money" at the top of your account page or within the account details.
Initiate the Transfer:
Choose your Capital One 360 Savings account as the "From" account.
Select your Capital One 360 Checking account as the "To" account.
Enter the amount you wish to transfer.
You can often schedule the transfer for a future date or set up a recurring transfer if needed. You may also have the option to add a memo for your records.
Review and Confirm:
Double-check all the details: "From" account, "To" account, and the transfer amount.
Click "Review" to see a summary of your transfer.
If everything looks correct, click "Transfer" to confirm and submit.
Sub-heading: Capital One Mobile App
Open the App and Sign In:
Launch the Capital One Mobile App on your smartphone or tablet.
Sign in using your username and password, or with biometric authentication (fingerprint or face ID) if enabled.
Select Your Savings Account:
From the account summary screen, tap on your Capital One 360 Savings account.
Start a Transfer:
Look for the "Transfer" option, typically found near the top or bottom of the screen.
Enter Transfer Details:
Select your 360 Savings account as the "From" account.
Choose your 360 Checking account as the "To" account.
Input the amount you want to move.
Mobile-specific: You might need to "Slide to confirm" the transfer on the mobile app.
Confirm the Transfer:
Review the details on the confirmation screen.
Tap "Transfer" or "Confirm" to complete the transaction.
Transfer Time: Transfers between Capital One accounts are usually instant or available the same business day.
Step 3: Transferring to an External Bank Account
If your primary checking account is with another bank, you can easily transfer funds from your Capital One 360 Savings to that external account.
Sub-heading: Linking External Accounts (If Not Already Linked)
If you haven't done so already, you'll need to link your external bank account to your Capital One account.
Access Account Settings:
Log in to your Capital One account online (linking is typically done via the website for the initial setup).
Go to Account & Feature Settings (usually found in the main menu or profile section).
Look for "External Accounts" or "Manage My External Accounts."
Add an External Account:
Click on "Add an External Account."
You'll need to provide the following information for your external checking account:
Account Type (e.g., Checking, Savings)
Bank Routing Number (ABA)
Account Number
Verify Account Number
Select how you'd like to use this account (e.g., "Payments and Transfers").
Important: You can typically link up to 3 personal checking accounts.
Verify Account Ownership:
Capital One will usually send one or two small deposits (often less than $1.00) to your external account.
You'll need to check your external account statements for these small deposit amounts.
Return to the Capital One website or app and enter these amounts to verify your ownership of the external account. This process can take a few business days. You will not be able to withdraw from Capital One to this external account until verification is complete.
Sub-heading: Initiating the Transfer to an External Account
Once your external account is linked and verified:
Log In and Navigate to Transfers:
Sign in to your Capital One account online or via the mobile app (as described in Step 2).
Select your Capital One 360 Savings account.
Choose the "Transfer" option.
Select Accounts and Amount:
Choose your Capital One 360 Savings account as the "From" account.
Select your linked external bank account as the "To" account.
Enter the amount you wish to transfer.
Review and Confirm:
Carefully review all transfer details.
Confirm the transfer.
Transfer Time: Transfers to external bank accounts typically take 1-3 business days to process and for the funds to become available in your external account. Larger amounts might sometimes take slightly longer, and availability depends on the receiving bank's policies as well.
Step 4: Getting Cash from Your Capital One 360 Savings
Since the 360 Performance Savings is primarily an online savings account, direct ATM withdrawals aren't typically available directly from the savings account. However, you can easily get cash by first transferring to a linked checking account.
Sub-heading: Via Capital One 360 Checking Account and Debit Card
This is the most common way to get cash.
Transfer to 360 Checking:
Follow the steps in Step 2 to transfer the desired amount from your Capital One 360 Savings to your linked Capital One 360 Checking account. As mentioned, these transfers are generally instant.
Withdraw from ATM:
Once the funds are in your 360 Checking account, use your Capital One 360 Checking Debit Card to withdraw cash from any of the 70,000+ fee-free Capital One, MoneyPass®, or Allpoint® ATMs nationwide.
You can find ATM locations using the Capital One mobile app or their website's location finder.
Visit a Capital One Branch or Café:
If you're near a Capital One branch or Capital One Café, you can also withdraw cash directly from your 360 Checking account with your debit card. Some Cafés may have self-service banking options.
Sub-heading: Cashier's Check (Less Common for Withdrawals)
While not a direct "withdrawal" method for immediate cash, you can request a cashier's check from your Capital One 360 Savings. This is generally for larger, more formal payments rather than everyday cash needs.
Contact Capital One customer service (details in Step 6) to inquire about requesting a cashier's check from your savings account.
There may be a fee for a cashier's check (e.g., $10.00).
Step 5: Initiating a Wire Transfer
Wire transfers are for sending larger sums of money securely and quickly, typically for specific purposes like real estate transactions or international transfers. They usually involve a fee.
Gather Recipient Information:
You'll need specific details for the recipient's bank account, which may include:
Recipient's Name and Address
Recipient's Bank Name and Address
Recipient's Account Number
Recipient's Bank's Wire Routing Number (ABA for domestic, SWIFT/BIC for international)
Any intermediary bank information, if applicable.
Always double-check this information carefully, as wire transfers are difficult to reverse.
Initiate Online or by Phone:
Online: Log in to capitalone.com. Select the account you want to send funds from (it's often easier to transfer to checking first if you're sending from savings). Look for "Account Services & Settings" and then "Wire Money."
Phone: You may need to call Capital One customer service to initiate a wire transfer, especially for larger amounts or if you prefer guided assistance.
Pay Fees:
There is typically a fee for outgoing wire transfers (e.g., $30 for domestic online wire transfers).
Transfer Time: Domestic wire transfers are generally deposited the same business day if initiated by a certain cut-off time (e.g., 5 p.m. ET). International wires can take 3-5 business days.
Step 6: Contacting Capital One Customer Service
If you encounter any issues or have specific questions about your withdrawals, Capital One's customer service is there to help.
Sub-heading: Phone Support
You can call Capital One for assistance with transfers, withdrawals, or general account inquiries.
Capital One Bank Customer Service: 1-800-655-2265
Hours: Typically available 7 days a week, 8 a.m. to 11 p.m. ET.
Sub-heading: Online Help Center and Chat
The Capital One Help Center (on their website) is a vast resource for frequently asked questions and guides.
You can also often chat with Eno, Capital One's digital assistant, through the mobile app or website for quick answers.
Step 7: Understanding Important Considerations
A few things to keep in mind when getting money out of your Capital One 360 Savings:
Sub-heading: Regulation D (Historical Note)
Historically, federal Regulation D limited certain withdrawals and transfers from savings accounts to six per month. However, this regulation was suspended by the Federal Reserve in April 2020 and later formally eliminated. This means Capital One no longer imposes this federal limit on savings account withdrawals.
Nonetheless, Capital One still advises against frequent withdrawals from a savings account, as it's designed for long-term growth. While there are no explicit Capital One fees for excessive withdrawals, constantly moving money out might defeat the purpose of a high-yield savings account.
Sub-heading: Transfer Limits
While Regulation D is gone, Capital One may have internal limits on the amount you can transfer out, especially for external transfers or wire transfers. These limits can vary based on your account history and security protocols.
If you need to transfer a very large sum, it's always best to contact Capital One customer service beforehand to understand any applicable limits and ensure a smooth transaction.
Sub-heading: Processing Times
Internal Capital One Transfers (Savings to Checking): Generally instant or same business day.
External ACH Transfers: Typically 1-3 business days. This means the money leaves your Capital One 360 Savings on day 1, and arrives and is available in your external account on day 2 or 3. Weekends and holidays will extend this timeframe.
Wire Transfers: Domestic wires usually same business day if initiated before the cut-off; international wires 3-5 business days.
Sub-heading: Fees
Capital One 360 Savings accounts have no monthly fees or minimum balance requirements.
Standard ACH transfers (to linked external accounts) are typically fee-free.
Outgoing wire transfers usually incur a fee (e.g., $30).
Cashier's checks may have a small fee (e.g., $10).
ATM withdrawals from a linked 360 Checking account are fee-free at Capital One, MoneyPass®, and Allpoint® ATMs. If you use an out-of-network ATM, the ATM owner may charge a fee, though Capital One itself generally doesn't charge for this.
This comprehensive guide should equip you with all the knowledge to confidently get money out of your Capital One 360 Savings account, no matter your needs!
10 Related FAQ Questions
Here are 10 common "How to" questions related to Capital One 360 Savings withdrawals, with quick answers:
How to check my Capital One 360 Savings balance?
You can check your balance instantly by logging into your Capital One account online at capitalone.com or through the Capital One Mobile App.
How to link a new external bank account to Capital One 360 Savings?
Log in to Capital One online, go to "Account & Feature Settings," then "External Accounts," and follow the prompts to add and verify your external account with small test deposits.
How to set up recurring transfers from my Capital One 360 Savings?
When initiating a transfer online or in the app, look for options to select transfer frequency (e.g., weekly, monthly) and a future start date.
How to cancel a pending transfer from Capital One 360 Savings?
Log in to your account, find the "Pending Transfers" or "Scheduled Transfers" section, and if the transfer hasn't processed yet, you should have the option to cancel or modify it. Act quickly, as pending transfers can process rapidly.
How to get physical cash from my Capital One 360 Savings account?
First, transfer the desired amount from your 360 Savings to your linked Capital One 360 Checking account (this is usually instant). Then, use your 360 Checking debit card to withdraw cash from a fee-free ATM or visit a Capital One branch/Café.
How to find a fee-free ATM for Capital One withdrawals?
Use the Capital One Mobile App's ATM locator or the "Locations" finder on the Capital One website to find Capital One, MoneyPass®, and Allpoint® ATMs near you.
How to send a large sum of money from Capital One 360 Savings via wire transfer?
You can initiate a wire transfer online by navigating to "Account Services & Settings" and then "Wire Money," or by calling Capital One customer service. Be prepared with the recipient's full bank details and routing/SWIFT information.
How to avoid fees when withdrawing money from Capital One 360 Savings?
Capital One 360 Savings accounts have no monthly fees. ACH transfers to linked accounts are generally free. To avoid ATM fees, use Capital One, MoneyPass®, or Allpoint® network ATMs. Wire transfers typically have a fee.
How to check the status of an external transfer from Capital One 360 Savings?
Log in to your Capital One account online or in the app and check your transaction history or pending transfers. You will usually see the transfer status there. For external transfers, also check your receiving bank's account after 1-3 business days.
How to contact Capital One customer service for withdrawal assistance?
You can call Capital One Bank Customer Service at 1-800-655-2265 during their operating hours, or use their online Help Center and chat features for support.