SOURCE: Capital One Bank

Capital One Bank

November 24, 2010 09:00 ET

Capital One Bank Savings Pool Video Encourages Consumers to Take the Plunge Into One of the Best Savings Rates

MCLEAN, VA--(Marketwire - November 24, 2010) - Today Capital One Bank released a video featuring the opening of its Savings Pool with Olympic gold medalist and current world record holder Aaron Peirsol. The Savings Pool was established for three days in San Francisco's Union Square to show area residents that jumping into saving money is made easier with Capital One Bank offering one of the best online savings rates in the country.

The video captures the transition of Union Square from a popular shopping destination and outdoor lunch spot to a pool area complete with palm trees, lounge chairs and a lifeguard. Local business men and women are seen eyeing the pool and then ditching their business suits for bathing suits before jumping into the pool. Peirsol took part in the fun by challenging a fellow swimmer to a backstroke race.

Beyond demonstrating his skill in the Savings Pool, Peirsol signed autographs for fans in Union Square and reinforced that establishing healthy savings habits at any age is an essential foundation for reaching financial goals. San Franciscans were invited to take the plunge themselves to raise money for local financial literacy nonprofit Junior Achievement of Northern California and received cash cards to boost their personal savings. Capital One Bank raised $12,000 for Junior Achievement over three days and Capital One Bank representatives were on hand to educate San Franciscans on simple ways to help grow their savings, such as with the InterestPlus Online Savings account. 

Customers who maintain an average monthly balance of $10,000 in their InterestPlus Online Savings or use a Capital One credit card at least once a month receive an extra quarterly bonus on interest earned. InterestPlus Online Savings is a no-fee, FDIC-insured savings account that customers can open online. Customers can access their InterestPlus Online Savings information and receive customer service assistance both online and by telephone.

Features of InterestPlus Online Savings include:

  • One of the best savings rates among the top national banks (currently 1.30 percent APY on balances of $1,000 or more; 0.10 percent on balances less than $1,000)
  • No fees and no minimum balance required
  • Just $1 needed to open an account
  • Keep a monthly average balance of $10,000 in the account or use a Capital One credit card in good standing at least once a month to qualify for an extra 10 percent quarterly bonus on interest earned in the prior quarter (paid within four to eight weeks after each quarter's end)
  • Up to six withdrawals by online transfer per calendar month
  • Free online transfers to and from existing, non-Capital One bank accounts
  • Free online transfers to and from Capital One Savings and Money Market accounts
  • FDIC insured up to $250,000 per depositor, per ownership category
  • Easy online application

Check out the video and images from the Capital One Banking Savings Pool and read more about InterestPlus Online Savings. Rates are subject to change.

About Capital One 
Capital One Financial Corporation is a financial holding company whose subsidiaries, which include Capital One, N.A. and Capital One Bank (USA), N. A., had $119.2 billion in deposits and $196.9 billion in total assets outstanding as of September 30, 2010. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients. Capital One, N.A. has approximately 1,000 branch locations primarily in New York, New Jersey, Texas, Louisiana, Maryland, Virginia, and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 100 index.

Capital One Bank offers great rates on a variety of online money market accounts, savings accounts, certificates of deposit and business money market accounts nationwide. Customers enjoy convenient and secure access to their accounts and our service representatives via online, phone or mail channels. Capital One Bank's Call Center for online banking products has been recognized by J.D. Power and Associates for providing "an outstanding customer service experience," two years in a row under the J.D. Power and Associates Certified Call Center Program.

Capital One Bank is a registered trade name of Capital One, N.A.