Segment: Banking
Publication date: Monday, August 31, 2009
# Pages: (45 pages)Abstract | Table of Contents
This report introduces the newest Bank Monitor firm, Capital One Bank, looking at the firm’s product offerings and online capabilities. In particular, this report considers the following aspects of Capital One:
• What product information is available on the public site, and how is it presented?
• What are the fees and attributes of the firm’s standard deposit accounts?
• Which account management tools are offered on the private site?
• How is account data provided online?
Capital One’s public site promotes close to a dozen separate deposit account options and provides information about private site tools and capabilities via four separate demos. Unfortunately, the navigation for the site is anything but uniform, with different public site sections offering different navigational bars and links to clients. This confusing setup makes it difficult to move from one area of the site to another, an issue compounded by the fact that the public site homepage uses its own, unique navigational layout.
On the private site, Capital One provides a much easier-to-navigate interface, with distinct tabs for important private site tools, along with a separate Self Service tab that aggregates most of the site’s account maintenance tools and links. Capital One’s Transfer and Bill Pay capabilities are both strong, with the former facilitating both incoming and outgoing external transfers and the latter providing a search tool for adding new payees. In addition, both of these tools allow one-time and recurring transactions. While the design of the navigation and individual tools is strong, the layout of most of the private site pages is dominated by quicklinks and other secondary items, instead of focusing on the main purpose of the page itself. In addition, while the firm offers 24 months of statement history, the firm does not offer true-to-form online statements, a feature provided by many other firms.
Capital One also offers the following banking products:
• A High Interest Savings account with 0.50% APY and a minimum daily balance of $5,000
• The fee-free Rewards Checking Account, which is affiliated with the No Hassle Miles rewards program; earned miles can be transferred to other Capital One Accounts
• A 24-month CD offering a 2.35% APY (minimum $500 deposit)
Subjects
Website Reviews/Company Reviews
