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Capital City Bank Review

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We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
Capital City Bank Checking
0.15% APY

Capital City Bank is a full-service financial institution that’s principally found in Florida but also has locations in Georgia and Alabama. The bank’s mobile app and website are some of the best in the area, making it well equipped to handle the “modern banking customer.”

What Capital City doesn’t have going for it are its unimpressive interest rates, high monthly fees and small ATM network outside of its local branches. Although this sounds like a death sentence for the bank, its solid set of checking accounts and IRAs seem to help redeem it.

Products Offered

Product Key Details
Savings Accounts
  • Undesirable APYs
  • Low monthly fees and waiver requirements
  • Easy-to-meet minimum deposits
Checking Accounts
  • Unique account options
  • Online/mobile banking
  • Low APYs
Money Market Accounts (MMAs)
  • Disappointing APYs
  • Totally fee-free
Certificates of Deposit (CDs)
  • Limited term length selection
  • $1,000 minimum to open
Individual Retirement Accounts (IRAs)
  • Three different retirement-centric variations
  • Educational IRA available

Capital City Bank Interest Rate Comparison

Capital City Bank Overview

Capital City Bank has heavily expanded in recent decades, although it was established in 1880. This lengthy history has allowed it to become one of the largest banks in Florida. Over the years, the bank has won and been nominated for multiple bank-specific and small business awards by local and state publications and groups.

Capital City Bank Everyday Savings Account

Key Features Details
Minimum Deposit $1
Access to Your Account Branches, online, mobile and ATMs
Security FDIC insurance up to the maximum amount allowed by law
Fees $3 monthly service fee; waivable by maintaining a $250 minimum daily balance
Current Terms and Rates 0.15% APY

The Everyday Savings and Basic Savings accounts at Capital City Bank are two extremely simple savings options. While the Basic account is much more traditional, the Everyday account has a central focus on online/mobile money management. Everyday account holders only receive eStatements, whereas the Basic account allows for optional paper statements. They both afford access to online banking, online bill pay, the bank’s mobile app and mobile check deposit. Regardless of which you choose, a $1 opening deposit is required. The Everyday account has a $3 monthly service fee waived by maintaining a $200 daily balance, but the Basic account requires a $500 daily balance to waive its $3 fee.

Capital City Bank offers the Minor Savings account not only for parents to save for their children’s future, but also to teach kids about banking and money management. In fact, once your child turns 15 years old, you can convert this into a joint account with a parent, giving your child supervised access to online/mobile banking, mobile check deposit and more. At 19 years old, though, this account becomes a standard savings account. To open one, you’ll need a $1 deposit, and there are no monthly fees to worry about.

The Savings Club at Capital City is a unique way to help people save for specific events or purchases. All you need is $10 to join this system, and it’s a completely fee-free account. The money that you save as part of the Savings Club will then be transferred to you via a Capital City checking account or check. This will occur on the first business day of either February, May, August or November, which the bank lets you to choose.

Compare Capital City Bank to Other Competitive Offers

Capital City Bank Performance Checking Account

Key Features Details
Minimum Deposit $50
Access to Your Account Branches, online, mobile & ATMs
Security FDIC insurance up to the maximum amount allowed by law
Fees $7.95 monthly service fee; waivable by maintaining a $4,000 minimum daily balance or completing 20 debit transactions
Current Terms and Rates 0.01% APY

All checking accounts at Capital City Bank have a $50 minimum opening deposit, although the monthly service fee associated with each vary, as well as the requirements to waive it. For the Everyday Checking account, a sizeable $7.95 fee is charged each month, unless you can maintain a minimum daily balance of $1,500 or swipe your debit card for at least 20 transactions over the statement cycle. Aside from in-person banking, the account includes free checks, text banking, mobile banking, online banking, mobile check deposit and online bill pay. As a matter of fact, all checking options here offer these benefits.

The Performance Checking account is the only interest-earning account at Capital City, though its APY is an anemic 0.01%. It has an almost identical $7.95 monthly fee structure, though the stipulations to avoid it are a bit different. Rather than retain a $1,500 daily balance as a waiver, these account holders must maintain a $4,000 balance, or make 20 debit transactions over the month.

If you want free fraud protection, the Carefree Checking account automatically comes with it. Though you’ll need to register once your account is active. Beyond just credit monitoring and protection, account holders also receive mobile phone insurance, access to online shopping rewards and more. These perks don’t come free though, as a non-waivable $6.95 fee must be paid each month.

High school students between 15 and 17 can open a Student Checking account through Capital City. Rest easy parents and guardians -- you and your child will be joint owners of the account, ensuring that you have supervision over the money. A $50 deposit is necessary at the time of opening, but you’re off the hook for monthly service and or per-check fees. At the age of 19, the account will shift into a typical personal checking account.

Capital City Bank Premium Money Market Account

Key Features Details
Minimum Deposit $10,000 or $25,000
Access to Your Account Branches, online, mobile & ATMs
Security FDIC insurance up to the maximum amount allowed by law
Fees None
Current Terms and Rates
  • $10,000 tier: 0.10% APY
  • $25,000 tier: 0.15% APY

The money market account (MMA) offerings at Capital City Bank leave quite a bit to be desired, especially in regards to the most important feature: interest rates.

Both of these MMAs come with online/mobile banking services, including remote check deposit, daily compounded interest and access to ATMs. But without a distinction between interest rates, there’s virtually no reason to choose one over the other. This is especially evident when you consider the differing minimum opening deposits of the account: $4,000 for the standard MMA and $25,000 for the Premium MMA.

Capital City Bank CDs

Key Features Details
Minimum Deposit $1,000
Access to Your Account Branches, online and mobile
Security FDIC insurance up to the maximum amount allowed by law
Fees None
Current Terms and Rates
  • 12 Month: 0.45% APY
  • 24 Month: 0.50% APY
  • 36 Month: 0.60% APY
  • 48 Month: 0.70% APY
  • 60 Month: 0.85% APY

Capital City Bank’s trend of unappealing interest rates continues with its certificates of deposit (CD). The highest APY you can earn at the bank is a minimal 0.15%, which is quite a bit lower than the typical 1% to 3% rates available at much of its direct competition. These CDs also call for a $1,000 minimum initial deposit, although many banks will require just $500.

Capital City Bank IRAs

Key Features Details
Minimum Deposit $1,000
Access to Your Account Branches, online and mobile
Security FDIC insurance up to the maximum amount allowed by law
Fees None
Current Terms and Rates
  • Accounts with a term shorter than a year: 0.10% APY
  • Accounts with a term longer than a year: 0.15% APY

The most common variations of an individual retirement account (IRA) are Roth and traditional IRAs. With either one, you can personally save for retirement. However, the way the federal government treats them in terms of taxes. Should you select a Roth account, you will have to pay income taxes on all deposits you make in the IRA, whereas Traditional accounts hold off income taxes until retirement.

Capital City Bank also employs two other IRAs: an SEP IRA and an Educational IRA. SEP IRAs are basically retirement accounts for those that are self-employed in some capacity. On the other hand, an Educational IRA has nothing to do with retiring. Instead it’s used to help save for a child’s future education costs on a tax-free basis.

Where Can I Find Capital City Bank?

Alabama, Georgia and Florida residents all have direct access to Capital City Bank branches. Florida is home to by far the most, though, with just about 60 physical locations around the state.

Capital City’s set of ATMs is a bit small, with just 74 ATMs to its name and no connection to an external network. Most of these machines are your average, everyday ATMs, but the bank recently employed the use of “Smart ATMs,” which allow customers to make deposits that will clear the same day as long as you complete it by 8 p.m.

What Can You Do Online With Capital City Bank?

Capital City Bank has an impressive set of features in its online banking program, including online bill pay, transaction histories, direct access to any Capital City loans, deposited check images and more. Perhaps the most useful benefit you’ll receive, though, is the ability to transfer money both internally and externally. So no matter whether you want to send funds from your own checking account to your savings, or pay back a friend or family member, just get the necessary account information and it will clear within the same day. In order to remain on this speedy schedule be sure to submit the payment by 10 p.m.

You can use all these same services through the Capital City Bank mobile app too, and it’s available for download for both Android and Apple phones. Mobile check deposit is one extra perk that the app has that cannot be done online, as well as an ATM/branch locator. For reference, this mobile offering is rated at about four stars between the two app stores.

How Do I Access My Money?

Many of the accounts at Capital City Bank include a debit card that customers can use at in- and out-of-network ATMs to pull money directly from their balances. ATMs are available at every one of the bank’s branches, but if you need to use a different ATM, you may be charged a fee not only from the machine’s operator, but Capital City as well.

The online and mobile banking platforms at this bank are extremely detailed and full of relevant services. They afford customers the chance to check on their account balances, see recent transactions, transfer money, find a nearby ATM and more. You can always feel free to visit a Capital City Bank branch whenever you want to talk to a banker directly.

How Can I Save More Money With a Capital City Bank Account?

When it comes to adding a significant amount of fiscal value, Capital City Bank has virtually no interest rate- or fee-based way to aid its customers in outearning the bank’s direct local and national tier competitors. Even its best CDs, money market accounts and savings accounts fall victim to this weak APY structure.

What’s the Process For Opening an Account With Capital City Bank?

The most direct way to start a banking relationship with Capital City Bank is to stop by a physical location and speak with an employee. Online account applications are a bit simpler though, as you can choose the account you want and fill out the necessary paperwork from the comfort of your home.

If you cannot make it to a branch, but have questions, Capital City has a live chat service available online, along with a banking customer hotline. Regardless of how you open your account, you must have a state-issued ID, your Social Security number and the money to cover your minimum opening deposit on hand.

What’s the Catch?

Although Capital City has some very useful online and mobile account features, this bank’s interest rates are some of the lowest you’ll come across. In other words, if you’re looking for a way to save money faster, you may want to avoid this bank.

Bottom Line

Prospective checking account customers will likely find Capital City Bank to be a fantastic choice. It has distinctive checking options to choose from which allow you to select the account that most closely fits your needs. The mobile app and online banking website at this bank have been rated well by current and former customers, and they each appear to be very user-friendly.

Unfortunately, these great benefits are paired with terribly low interest rates that make the bank look bad overall. But if savings is less of a concern for you, Capital City is absolutely worth a look for those with branches nearby.

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