SOURCE: Capital One Bank

Capital One Bank

October 14, 2010 11:00 ET

Capital One Invisible Bank Video Highlights New School Approach to Banking

Customers Don't Need a Physical Location to Get One of the Best Savings Rates

MCLEAN, VA--(Marketwire - October 14, 2010) -  Today Capital One Bank released a video featuring the opening of their one-of-a-kind Invisible Bank with NFL star receiver Randy Moss. The Invisible Bank was established for three days in Boston's historic Faneuil Hall Marketplace to show area residents that they don't need a brick-and-mortar location to get one of the best savings rates and convenient, personalized service.

Moss cut the ribbon at the grand opening of Capital One's Invisible Bank, signed autographs for fans and helped create awareness for the importance of developing healthy savings habits and the tools that make it easy to save. Tellers at the Invisible Bank educated Bostonians on simple ways to help boost their savings, such as the InterestPlus Online Savings account, which features one of the best savings rates among top national banks. By marrying a high interest rate -- plus the opportunity for a 10 percent bonus on earned interest -- with secure and convenient access, InterestPlus Online Savings encourages customers to make responsible savings decisions and allows them to watch their money grow. 

Customers who maintain an average monthly balance of $10,000 in their savings account or use a Capital One credit card at least once a month receive an extra 10 percent 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 1.35 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

For access to the Capital One Invisible Bank video and images visit http://capitalone.presslift.com/invisiblebank. For more information about InterestPlus Online Savings, or any of the Capital One Bank products, visit www.capitalonesavings.com. Rates are subject to change.

About Capital One
Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries, which include Capital One, N.A. and Capital One Bank (USA), N.A., had $117.3 billion in deposits and $197.5 billion in total assets outstanding as of June 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.