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Put Your Savings On Autopilot and Make Every Cent Count

September 15, 2009 at 10:09 AM EDT

Capital One SmartCents Checking Makes Saving Money Effortless

McLean, Va. (Sept. 15, 2009) – Capital One Bank announced today the launch of SmartCents Checking, available at Capital One Bank retail locations. The free personal checking account provides a simple way to save by automatically transferring 50 cents from the customer’s checking account to a linked savings account for every debit card purchase or online bill payment. Capital One Bank also matches 100% of all eligible customer transfers for the first three months, and 5% thereafter. And new customers enjoy special bonuses for their first direct deposit and first online bill payment.

“Establishing healthy savings habits is essential, and SmartCents Checking enables consumers to effortlessly save as they go about their daily activities,” said Capital One Bank spokesperson Pam Girardo. “During these times, saving is more important than ever, and we’re pleased to offer consumers a way to put their savings on autopilot.”

To help educate consumers that saving money does not have to be a challenge, Capital One Bank has teamed up with renowned financial psychology expert and author of Your Money Personality: What It Is and How You Can Profit From It, Dr. Kathleen Gurney. During the week of September 21, Dr. Gurney will be visiting select branches in New York, Louisiana and Texas to share “Subconscious Savings” tips.

“Financial habits and behaviors are subconsciously motivated and a result of how we think and feel about our money,” says Dr. Gurney. “Small and consistent steps to save not only reap financial gains over time, but transform powerful subconscious preferences to reinforce saving over spending.”

SmartCents Checking*

  • Completely free checking - no monthly or annual service fee, no minimum balance requirement, no direct deposit requirement
  • 50¢ SmartCents transfers for each debit card purchase or online bill pay
  • 100% match from Capital One Bank on eligible SmartCents transfers for first 3 months and 5% match after that
  • Cash bonuses for setting up direct deposit and paying a bill online
  • Up to $300 per year in bank contributions
  • Free online banking and bill pay service
  • FDIC insured

The SmartCents Checking account follows the successful launch of the Bank’s Rewards Checking account. Launched last year, Capital One Rewards Checking allows personal and business customers to easily earn rewards for everyday banking activities. Like the SmartCents account, the Rewards Checking account comes with no monthly service fee or monthly minimum balance requirement.

Customers interested in opening an account or learning more should visit www.capitalonebank.com, call 1-888-855-BANK or come to any of the convenient locations in New York, New Jersey, Connecticut, Texas and Louisiana.

“Subconscious Savings” Tour

Learn about simple ways to save money – some without thinking – from Dr. Kathleen Gurney. Also, be on the lookout for the SmartCents Smart Cars and street teams handing out piggy banks that could contain up to $300 during the dates below!

Monday, September 21, 2:00p.m.
Capital One Bank
313 Carondelet Street
New Orleans, LA 70130

Tuesday, September 22, 2:00p.m.
Capital One Bank
4646 S Sherwood Forest Blvd.
Baton Rouge, LA 70816

Wednesday, September 23, 1:00p.m.
Capital One Bank
8401B Westheimer Road
Houston, TX 77063

Thursday, September 24, 1:00p.m.
Capital One Bank
17561 Dallas Parkway
Dallas, TX 75287

Friday, September 25, 2:00p.m.
Capital One Bank
3721 Hempstead Avenue
Levittown, NY 11756

*For full terms and conditions, please visit www.capitalonebank.com

About Capital One
Capital One Financial Corporation (www.capitalonebank.com) is a financial holding company whose subsidiaries, which include Capital One, N.A. and Capital One Bank (USA), N. A., had $116.7 billion in deposits and $146.3 billion in managed loans outstanding as of June 30, 2009. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients. Capital One, N.A. has approximately 1,000 branch locations primarily in New York, New Jersey, Texas, Louisiana, Maryland, Virginia, and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 100 index. Member FDIC. Capital One Bank is a registered trade name of Capital One, N.A.

Contact:
Pam Girardo 703.720.2351
pam.girardo@capitalone.com