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Capital One Bank Enhances Remote Deposit Service to Automate Accounts Receivable Posting
Business clients can now scan, submit and apply payments seamlessly with QuickBooks and Peachtree accounting software

MCLEAN, Va., Apr 11, 2011 (BUSINESS WIRE) --

Capital One Bank today introduced a significant enhancement to its Remote Deposit service designed to give the bank's Treasury Management clients an efficient new electronic receivables processing solution.

With the new Apply Payments tool, businesses using Capital One's Remote Deposit service can seamlessly integrate their electronic check deposits with accounting software packages, such as QuickBooks or Peachtree. For no additional fee, the tool eliminates the hassle of double-keying check deposit information and automatically updates accounts receivable information in one easy step. Apply Payments will allow Capital One's business clients to save time, reduce keying errors and benefit from a truly integrated receivables process.

Remote Deposit clients can sign up for the new Apply Payments tool by calling their Treasury Management Sales Advisor or contacting Capital One Bank at treasury@capitalonebank.com

"Apply Payments is just one of several new product enhancements our clients can expect to see from Capital One this year," said Colleen Taylor, EVP-Head of Capital One Bank's Treasury Management business. "We are making significant investments in technology and resources to expand our Treasury Management solutions, all intended to help support our customers and to allow them to spend more time on focusing on their broader business objectives."

As the nation's 9th largest financial services provider, Capital One delivers innovative treasury management and merchant services solutions that extend beyond the traditional - offering a comprehensive suite of payables, receivables, liquidity management and commercial card services along with the online tools companies need to manage their cash flow swiftly, safely and efficiently.

About Capital One

Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries, which include Capital One, N.A. and Capital One Bank (USA), N. A., had $122.2 billion in deposits and $197.5 billion in total assets outstanding as of December 31, 2010. 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.

Capital One Bank is a registered trade name of Capital One, N.A.

SOURCE: Capital One Financial Corporation

Capital One Financial Corporation
Julie Rakes, 804.284.5800
Julie.rakes@capitalone.com