MCLEAN, Va., Jul 21, 2011 (BUSINESS WIRE) --

Capital One Bank (www.capitalonebank.com) today introduced Clear Interest Business Checking, a first-to-market high interest checking account for businesses. With an unprecedented high interest rate, easy access to funds and turn-key cash liquidity; Capital One Bank is simplifying money management to help business owners focus on the day-to-day management and growth of their businesses.

"The Clear Interest Business Checking account can fundamentally change how business owners manage their company's money," said Peter Appello, Executive Vice President of Small Business Banking at Capital One Bank. "With Clear Interest Business Checking, business owners can feel assured that their idle cash is anything but - it is now working as hard as they do."

A new, business-friendly change to a decades old banking rule that prohibited banks from paying interest on commercial demand deposit accounts - Regulation Q - marks an important change in the industry, opening the door for interest-bearing checking accounts for businesses. Capital One Bank's Clear Interest Business Checking further benefits business owners and gives them an edge, by offering a generous interest rate for the first twelve months and a market-competitive rate thereafter. Additionally, Capital One Bank provides a "Business Specialist" to help business owners manage their funds and maximize their earnings.

"When it comes to managing finances, one of the main concerns I hear from business owners is that they're forced to dedicate time and energy to transferring funds from one account to another to earn interest - time that could be better spent taking meetings with clients or growing their businesses," says Gene Marks, small business expert and President of The Marks Group. "The repeal of Regulation Q is a major win for business owners, and with its new Clear Interest Business Checking account, Capital One Bank has shown it understands the needs of small business owners. A simple, high value way to earn high interest everyday."

The Clear Interest Business Checking account includes:

• High interest on operating capital
• No monthly fees on balances of $10,000 or more
• 300 free transactions per month
• Only 25 monthly transactions required to earn interest
• Capital One Business Specialist to assist with needs

To learn more about a Clear Interest Business Checking, visit www.ClearBusinessChecking.com or call 1-888-755-BANK (2265). To locate a branch and learn more about Capital One Bank, visit www.capitalonebank.com.

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 $126.1 billion in deposits and $199.8 billion in total assets outstanding as of June 30, 2011. 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.

SOURCE: Capital One Financial Corporation

Capital One Financial Corporation
Steve Schooff, 212-216-8984
steve.schooff@capitalone.com