Capital One Direct Banking

Discussion in 'General Discussion | Miles/Points' started by MX, Jun 25, 2012.  |  Print Topic

  1. MX

    MX Gold Member

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    Capital One bank used to offer a variety of checking and savings accounts that paid reward points in addition to interest. Yesterday I accidentally came across their direct banking portal, and found the entire portfolio of services replaced by a link to the ING-Direct page.
    http://www.capitalone.com/directbanking/

    I later got an explanation from a phone rep. Indeed CapOne exited its direct banking business after the merger with ING-Direct. They promised that customers with existing CapOne reward points will be unaffected for the time being.
     
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  2. NYCUA1K

    NYCUA1K Gold Member

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    It seems that there has been quite a bit bank "restructuring" of late. I have an HSBC MasterCard that I got through HSBC. While the card still has HSBC logos and design, it seems that it is no longer an HSBC MC because I got a note that says:

    Capital One Services, LLC, services your account on behalf of affiliated creditor Capital One Bank (USA), N.A. Your account is no longer serviced by HSBC Card Services Inc.

    I like this card because it waives foreign exchange fees but I do not like the fact that HSBC seems to have just 'dumped' cardmembers on CapOne's lap...
     
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  3. edekba

    edekba Gold Member

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    Earlier this year, Cap One went on a purchasing spending free.
    1. Capital One Bought ING (Feb)
    2. HSBC Sold its Card Business to Capital One (March)
     
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  4. Robin
    Original Member

    Robin Silver Member

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    Just received a letter from Cap One: Effective 8/15/12 Withdrawals from ATM's outside the US will incur a 3% transaction fee. Didn't this used to me free?
     
  5. edekba

    edekba Gold Member

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    yes; that's why they sent ya a letter :) heh
     
  6. needtoescape

    needtoescape Silver Member

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    For my accounts (I have both a Direct Banking account I set up online several years ago and a local account in MD), CapOne has been charging a $2 ATM fee (supposedly) for awhile now for any non-CapOne ATM. I don't recall receiving any notification about this, but this is what two different phone reps told me when I called prior to international travel (Sep 2011 and Feb 2012). I didn't use my CapOne card on either trip, because my Citi card (with Citigold) was not charging any fees.
     
  7. penumpang
    Original Member

    penumpang Gold Member

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    I'm a CapOne Direct Banking customer, but haven't received the letter yet. Is your account Direct Banking or a local account?
     
  8. NYCUA1K

    NYCUA1K Gold Member

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    I hope this does not mean that the HSBC cards, now part of CapOne Services, will no longer waive forex fees...
     
  9. Amanda@CapitalOne

    Amanda@CapitalOne New Member

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    Just to clear up any confusion, all Capital One credit cards and debit cards used for purchases do NOT charge foreign transaction fees. This includes former HSBC credit cards that are now Capital One. We do not pass on the 1% fee assessed by Visa/MasterCard (we absorb it), nor do we assess one of our own.

    Regarding ATM use, just like in the U.S., depending on the type of Capital One Bank account a customer has, he/she may be charged for using another bank's ATM machine. Not all of our accounts have a fee for using another bank's ATM machine.
     
  10. edekba

    edekba Gold Member

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    C1 signed up for an account just to clarify? wow! Thanks for the update & clarification.
     
  11. NYCUA1K

    NYCUA1K Gold Member

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    Thank you, Amanda, for the clarification regarding the foreign exchange fee, which, as a frequent intl traveler, is one of things I like about my HSBC MC. It is great that the transfer of the account to CapOne will not affect this nice feature of the card. I understand that the foreign 'ATM' fee, which is universal, should not be confused with the foreign 'currency' exchange fee...

    BTW, Welcome to MP and please do pop in every once in a while to 'clarify'!...:)
     
  12. Robin
    Original Member

    Robin Silver Member

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    I have both, so not sure.
     

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