A coffee shop run by a bank can be… good?

I live in Seattle and am fortunate to have an abundance of great coffee shop options. So you can imagine my surprise when I recently learned one of those options is offered by a major national bank and credit card issuer.

The Capital One Café is a coffee shop located in the South Lake Union neighborhood of Seattle. I’ve lived nearby for over a year and passed by it often, wondering who even goes to this place. There must be at least two dozen other coffee shops within a mile radius. Surely, a coffee shop that resembles a bank branch couldn’t compete, right?

As a credit cards writer, I finally decided it was my duty to find out. So in the late morning on a recent Friday, I grabbed my laptop and went to work from Capital One Café to see what it’s all about. The experience surprised me in a good way. Let me explain.

What in the world is the Capital One Café, anyway?

If you go by the bank’s website, you’ll find that the Capital One Café is “a community space where you can come in — relax and recharge — whether you bank with us or not.”  I’ve found this to be accurate, but it doesn’t exactly paint a picture. So let me do that for you.

The large windows of the coffee shop opened onto the street to let in the breeze and sunlight seeping through tree branches. The two-storeyed space felt like a millennial’s dream: subway tile and polished concrete floors, the grit of industrial fixtures softened by the warmth of light wood, modern furniture and a playlist from the 2000s. That last part made me smile to myself. I was the target audience.

I’d expected the cafe to be rather empty at this hour — the morning rush had passed, and it was too early for lunch. Still, I had to wait in line for a few minutes, which allowed me to study the menu. The cafe served Verve coffee, craft coffee roasted in California, as well as several food items. Those, of course, included avocado toast. (Millennials, remember?) I ordered an iced honey lavender latte with oat milk. It was priced at $7.25, but I only paid $4.55 with taxes because I used my Capital One SavorOne Cash Rewards Credit Card. While everyone is welcome at the cafe, Capital One debit and credit cardholders get 50 percent off beverages.

After I got my coffee, I sat down at a long, bar-height table with outlets and connected my work laptop to the free Wi-Fi. I noticed a Capital One representative speaking to one of the patrons. Talking credit cards with a cup of coffee? I could be into that.

At this point, my friend — who’s habitually late to everything — joined me.

“Oh my god,” I told her, tasting my coffee, “this is…good. You must try it.”

And so she did, coming to the same conclusion. Meanwhile, I noticed we weren’t the only ones coworking. The cafe was filling up with people on their laptops, some in groups, others on their own. 

It’s not just a bank branch with coffee and snacks, I realized. It’s also a bit more than just a coffee shop with some bank marketing tossed in. It’s an excellent coworking hub. And judging by the number of people I saw during my visit, there appears to be demand for this unique establishment.

A coworking space I didn’t know I needed

Once I was done with my latte, I gave myself a little tour. A part of the cafe was dedicated to meeting spaces. I saw several small nooks currently operating on a first-come first-serve basis. The plaques on the sliding glass doors informed me that soon, Capital One customers will be able to reserve these spaces through the bank’s app. The issuer’s spokesperson told me this feature was in the pilot stage and expected to roll out to more cafes.

The cafe also has a couple of larger meeting rooms equipped with screens. These do require a reservation. It’s free to reserve a room, but they’re only available to nonprofit, student and alumni organizations.

My tour made me want to come back to the cafe sometime. I work from home and very much prefer it that way — writing requires a lot of focus. But cabin fever is a real thing, so I like to get out and work from somewhere else every once in a while. However, not every coffee shop provides a good office alternative. I can’t tell you how many times I eyed a sole outlet someone else was using as my laptop was about to die. Or felt embarrassed in a meeting because my earphones would pick up all the background noise, which drowned out my voice. Oh, and sandwiches from the fridge? Terrible.

Capital One Café fits the needs of someone like me perfectly. It seems the issuer thought of everything: from the abundance of outlets to spaces to take your Zoom calls to foods and beverages to keep you fueled. 

Speaking of food, the menu contained only a handful of items, but I was pleasantly surprised. My friend ordered the Signature Breakfast Club and ushered me to do the same. I did — it was a very decent sandwich. The dijonnaise sauce definitely hit the spot.

Get a coffee — and free financial advice

Coworking and snacks are not where the cafe offerings end. According to a Capital One spokesperson, “The Capital One Cafés are designed to reimagine the banking experience by empowering everyone to feel more confident with their relationship with money and stress less about their financial journeys.” Capital One Café currently has over 50 locations spread across 19 states. They offer services focused on financial literacy and access, including various programs and workshops. 

Here are the types of community services you can find at cafes:

Banking

Capital One Café can provide some of the typical branch experience. For example, my local cafe has ambassadors available to help you manage your existing accounts, chat about new accounts you can open or even discuss applying for an auto loan.

As I’ve mentioned, there’s also a Capital One ATM to make a deposit or get cash.

Money & Life Program

I find this one very exciting. Money & Life is a free program designed to help you build your financial path. It pairs you with a certified coach to create a personalized plan for achieving your money goals. You can get up to three 60-minute sessions with a mentor to figure out your financial priorities, roadblocks and next steps.

Capital One also offers online tools, such as financial exercises and on-demand videos covering various financial topics.

Workshops

Capital One sometimes organizes workshops to support the communities in which its cafes operate. 

For instance, the issuer’s spokesperson shared with me that Capital One hosted a series of office hours at cafes across the country in partnership with the National College Attainment Network (NCAN). During these workshops, NCAN volunteers walked students through the college application process, answered their questions and discussed the recent changes to the application.

The issuer has extended this partnership and is planning additional events at cafes across the country through the end of August.

Freebie events

Cafes host community-building and financial events. You can participate at your local cafe or watch an event online. 

For example, the Capital One website currently lists MLB Mondays, where you can get a free 12 oz. drip coffee from any cafe on Mondays during the 2024 MLB season. Or, through Sept. 1, you can stop by a Capital One Café to enter the Island Getaway Sweepstakes for a chance to win a four-night, five-day trip for two to Turtle Bay Resort in O’ahu, Hawaii. 

Cardholder exclusives

For some of the events, you’ll need a Capital One card. These are shared directly with customers based on their communication preferences. For example, in the past, Capital One offered cocktail-making classes at some cafe locations (fun!) and even an opportunity to win Taylor Swift concert tickets.

The bottom line

To be honest, even as a loyal Capital One cardholder, I found the idea of a bank-run cafe gimmicky. I didn’t expect much from it — but I was pleasantly surprised. For those looking for a new coffeehouse to work from, I recommend checking out your local cafe if you have one nearby. 

My experience made me wish more issuers made an effort to connect with the communities they serve. Third places are important, and if one offers good coffee and free money advice, I’m all for it.