You can designate up to 10 Payable on Death (POD) beneficiaries on most types of deposit accounts. Eligible deposit accounts do not include accounts in trust ownership, IRAs or Business accounts. Beneficiaries must be individuals with a valid Tax ID, date of birth and physical address within the United States. Designating a POD beneficiary to your bank account(s) helps in planning for the future and may increase your FDIC coverage for deposit accounts. For more information on FDIC coverage, click here.
To add a beneficiary to your account through the website:
- Sign in to capitalone.com on your computer
- Click on the account you would like to add a beneficiary to
- Click “account services & settings”
- Click “manage beneficiaries”
Or, to do this manually:
- Download this form.
- Complete all sections of the form in entirety by typing in the personal information before printing (preferred), or using clear and legible handwriting.
- Take the form to a notary to obtain a notarized signature.
- Once completed and notarized, fax the document to (888) 464-3220 or mail it to Standard Mail: Capital One Bank, Attn: Bank by Mail, PO BOX 85123, Richmond VA 23285
Overnight Mail: Capital One Bank, Attn: Bank By Mail, 15000 Capital One Drive, Richmond, VA 23238
Are Payable on Death accounts subject to probate?
POD accounts (those with Payable on Death beneficiaries designated) typically are not subject to probate. For specific questions about the probate process and estate planning, you should consult a financial adviser.
Is Payable on Death the same as beneficiary?
A bank account with designated POD beneficiaries is an arrangement between a bank and an account owner(s) that allows beneficiaries to receive the funds in the account(s) when all owners pass away. Capital One Bank gives customers the ability to designate up to 10 individuals as POD beneficiaries on most types of deposit accounts.
To add a beneficiary to a Capital One branch account, please refer to your local bank branch.
What if I can't obtain in-person notarization?
If you are unable to obtain in-person notarization for this document, your state may have implemented virtual notary rules. You can visit the National Notary Association to confirm if this option is available in your state.