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Capital One Launches Back to Business Payroll -- an Enhanced Online Payroll Product for Small Business Owners
Back to Business Payroll Offers Small Business Owners More Flexibility and Control Over Payment and Tax Processing
MCLEAN, Va., Nov 20, 2008 (BUSINESS WIRE) -- Capital One Financial Corporation (NYSE:COF) today announced the national launch of Back to Business Payroll, a comprehensive online payroll and tax-filing solution for small and independent business owners.

Back to Business Payroll calculates paychecks, W-2s, electronic tax payments, tax filings, guarantees that all calculations are accurate and runs payroll in less than ten minutes. Unlike other payroll products, Back to Business Payroll can operate anytime and from anywhere with an Internet connection. The product also enables free direct deposits and check printing, allowing business owners flexibility in employee payment options.

"There are several important benefits that our payroll product provides, such as, enabling business owners to spend less time calculating payroll and taxes and more time on tasks that increase revenue for their business," said Dave Wasik, Senior Vice President, Capital One Small Business. "Capital One recognizes that business owners are short on time, so we designed a flexible, accurate and secure payroll service they can depend on."

Capital One's payroll product is something to consider as the bulk of business owners begin preparing for the year end, which may include hiring additional staff for a busy holiday season or preparing for the upcoming tax season. Instead of hiring an employee to oversee these additional finances, Capital One's payroll system allows the business owner to handle it directly with minimal effort, cost and time.

Key benefits of Back to Business Payroll include:

-- Secure online access -- can do payroll anywhere and anytime

-- Run payroll in less than 10 minutes

-- Guaranteed accurate calculations

-- Easy online enrollment

-- Quick three-step process -- Enter employee hours

-- Verify payroll amounts

-- Approve direct deposits or print paychecks

-- No software to purchase or download

-- Free 30-day trial followed by low monthly pricing

-- Free direct deposit and check printing options

-- Unrestricted access to Capital One's payroll specialists

"Back to Business Payroll is also an ideal solution for business owners that are cutting back and tightening budgets in a volatile economy. Streamlining business processes is essential these days and this tool makes a fairly time-consuming task not only more palatable but more affordable," added Wasik.

Back to Business Payroll is the latest offering from Capital One's broad portfolio of small business products and services, which includes credit card processing systems, credit cards, and business money market accounts, giving small businesses a range of options tailored for every type of business owner. For more information and small business financing tips, go to www.capitalone.com/smallbusiness.

About Capital One

Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries collectively had $98.9 billion in deposits and $147.3 billion in managed loans outstanding as of September 30, 2008. Headquartered in McLean, VA, Capital One has 739 locations primarily in New York, New Jersey, Texas, and Louisiana. It is a diversified bank whose principal subsidiaries, Capital One, N.A. and Capital One Bank (USA), N.A., offer a broad spectrum of financial products and services to consumers, small businesses and commercial clients.

Capital One offers a range of products to meet small business needs, including small business credit cards, business money market accounts and payroll services. As the one of the largest issuers of small business Visa credit cards, Capital One provides specialized support designed to make it easier for small business customers to manage their finances so that they can focus on what's important to them. Capital One small business products are available via direct mail, capitalone.com, phone (800-926-1000) and fax.

SOURCE: Capital One Financial Corporation

Capital One Financial Corporation 
Steve Schooff, 972-295-1676 
stephen.schooff@capitalone.com