Capital One Savings
Aside from the credit cards that Capital One is offering, it also has a scheme that allows people to earn money by means of interest. With Capital One Savings, you still have access to your money while earning interest at the same time.
Those residing in UK and are aged 18 and above may apply for a Capital One Savings account. An account may be opened and managed by an individual or by 2 persons should they wish to open a joint account. Each one can make a deposit or withdrawal without having to get authorization from each other. Savings accounts, however, do not cater to clubs, charities, businesses, trustees, and organizations.
Opening a savings account may be done via the internet. Simply visit the Capital One Web site and to apply or you may call the company and you will be guided accordingly. An application pack will also be sent to you for your convenience. As part of your Capital One application, simply make your initial deposit through Direct Debit.
Your account will be opened after Capital One has made a thorough check on the identity and address information that you have provided; this is to comply with UK’s anti-money laundering laws. The process normally takes 5 working days. Upon verification and approval, you will be sent a Welcome Pack and Capital One will give you instructions as to what steps to take after you have opened your account.
Your money is guaranteed to start earning interest. When you have made a deposit electronically, your funds will instantly earn interest on the same day, as long as it’s a business day. When you deposit a cheque, interest will be earned on the 2nd business day upon its receipt.
You have the option to choose as to when you want you receive the interest on your investment. You can either select monthly or annually, or have the interest paid into another Capital One savings account. You may also want the interest added to your savings account, or transferred to a different UK account under your name.
Log on to Capital One’s site and start exploring possibilities to earn interest for your hard-earned money.