![]() Summary: Capital One 360 offers online checking accounts, Synchrony Bank does not. Then, choose a bank like Synchrony for all of your savings account needs. You can always find a local, brick-and-mortar institution for your everyday funds, offering you all of the accessibility you could need. If you wish you could save more and spend less - or if you are likely to dip into savings for expenses that aren’t emergencies - it might be worth keeping your checking account somewhere else. Being a single click away from spending your emergency fund is unwise instead, having an added step (transferring funds) and a number of business days might be the cooling-off period you need. However, this may not be a dealbreaker for most.Īs mentioned above, it’s often suggested that banking customers keep their checking accounts (spending money) and savings accounts separate. While Synchrony Bank is a top-of-the-line online bank, offering a variety of account types and features for almost every customer, there is one downside: they do not offer checking accounts. However, it pales in comparison to what you could earn in the right high-yield savings account, so you shouldn’t use your checking account to store more than you plan to spend in the near future.Ĭapital One 360 checking accounts currently earn between 0.20% and 1.00 % APY, depending on the balance held ( as of Decem). You’ll also earn interest on the balance you carry in your Capital One 360 checking account.
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