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Capital One Small Business Banking

Capital One Background

With a newly redone (as of June 2015) web site, Capital One is working hard to innovate as “a world class Fortune 500 company,” as the company’s ‘home’ web site notes.

Capital One specializes in credit cards, home and auto loans, banking and savings products. It’s the eighth largest bank holding company in the U.S. and, thanks largely to its credit card solicitation and billing systems, is the fourth largest customer of the U.S. Postal Service.

Capital One’s three small businesses checking accounts

  1. Spark Business Cashback Checking
  2. Spark Business Interest Checking
  3. Spark Unlimited Business Checking.

Cashback provides a credit of $0.10 every time you swipe a debit card, make a withdrawal or pay a bill. Business Interest Checking provides a rate ‘above the national average on balances up to $100,000.” The Unlimited account ensures “you can make as many everyday business transactions as you want without having to worry about unexpected fees or limits.”

Online and mobile banking are second (and third) only to Capital One’s credit card programs.

Mobile check deposits, Apple Pay © and late fee coverage if your pre-scheduled bill payments aren’t made on time.

The company’s web site doesn’t indicate if, or for how long, check images are available online, or how many months of statements you can see.

The web site is deep – multi layers on information – but it fails to provide some important information (see preceding paragraph) competitors’ web sites tend to make readily available.

Part of the reason for that, particularly in the business banking area, is because – as noted – Capital One is primarily a credit card company. Their Merchant Services program offers card processing, and it’s a pretty good bet they are pretty good at that. Translated, that means Capital One may be worth considering for that alone, or that reason alone.

Perhaps more important to you, or more valuable, are Capital One’s business credit card offerings. There are three miles rewards cards (all for people with excellent credit) and three offering cash rebates -- two of them for people with excellent credit, one for people with average credit. The highest level cash rebate card offers a one-time $500 cash bonus to individuals spending more than $4500 on purchases in the first three months of card use. Ongoing, this card offers 2% cash back on all purchases.

Customer Review

"A consistent two percent back on purchases can add up fast -- and does, for me,. That's one of the things I love about Capital One." -Justin S.