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American Express and Capital One are two major players in the credit card and online banking space. In fact, they're both considered among the best online banks today. But is one better than the other? Here’s a closer look at how these two financial institutions stack up against each other.

Founded in 1989 and headquartered in Salt Lake City, Utah, American Express National Bank is a subsidiary of American Express Company. As an online bank, Amex offers personal savings and checking accounts, loans, investment management services, and business accounts and lines of credit.

Read our full review of American Express National Bank

Capital One is a Virginia-based credit card company founded in 1994. Over the years, Capital One has expanded its offerings to include a full suite of financial products and services for consumers and businesses, including checking and savings accounts, money market accounts, CDs, auto loans, and more.

Read our full review of Capital One

American Express and Capital One both offer interest-bearing checking accounts that are free to open with no monthly maintenance fees or overdraft fees.

However, American Express stands out for its checking account interest rate, which pays a competitive 1% APY vs. Capital One’s 0.1% APY. The Amex checking account also offers membership rewards points on eligible debit card purchases. However, it is currently only available to card members with a U.S. basic consumer card issued by American Express National Bank with at least 35 days tenure.

Capital One does not offer any rewards for its checking account. However, like Amex, it offers a $250 welcome bonus for new accountholders who meet specific criteria. Both of these accounts made our list of the 10 best free checking accounts available today.

Read more: 16 best new bank account promotions and bonuses: Earn up to $3,000

American Express and Capital One* offer nearly identical high-yield savings accounts. Both accounts earn 3.3% APY with no minimum opening deposit, monthly maintenance fees, or minimum balance required to earn the disclosed rate. Additionally, both of these accounts made our list of the 10 best high-yield savings accounts available today.

*Advertised Annual Percentage Yield (APY) is variable and accurate as of 2/26/2026. Rates are subject to change at any time before or after account opening.

American Express and Capital One both offer CDs with terms of up to 60 months. Neither bank requires a minimum opening deposit. Additionally, both banks offer CD rates as high as 4% APY.

The main difference is that Amex imposes an early withdrawal penalty of up to 540 days’ worth of interest (approximately 18 months), depending on the CD term. On the other hand, Capital One imposes a maximum penalty of six months’ worth of interest.

Read more: The best CD rates on the market today

In addition to the products we compared above, American Express also offers individual retirement accounts (IRAs), personal loans, credit cards, and business banking products and services.

Capital One offers a kid’s savings account, credit cards, auto financing, and business and commercial banking solutions as well.

Overall, American Express and Capital One offer very similar rates on deposit products, though Amex has a better rate on its checking account, which is more than five times the national average.

Both banks have similar fee structures and do not charge monthly maintenance fees or overdraft fees for their accounts.

American Express National Bank is a great option for consumers who value high deposit account rates, low fees, and who don’t need to make cash deposits. However, the checking account is only available to existing Amex members.

Capital One is a worthwhile option for those who value a quality digital banking experience, competitive interest rates, and the ability to make cash deposits.

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