Dedicated to Deposits: Deals, Data, and Discussion

CapOne/Costco Money Market Now 4.77% Plus New $50 Bonus


The yield on Capital One/Costco Money Market account has increased to 4.77% APY from 4.72%. The last rate change on this account was on May 10th when it increased from 4.60% to 4.72%.

Ever since last year when I started following this account, there has been a $25 sign-up bonus when Costco Executive members open their first money market account or CD. Executive members can now receive $50. Here's the link to the promotion on Costco's page. You must call 1-866-308-6090 to take advantage of this offer. It's not available online. The offer is good through August 27, 2006.

This money market account has an initial deposit requirement of $5K. The minimum balance is only $100 to qualify for the APY. There are no monthly maintenance fees even if the balance falls below $100. It's been reported on this FW thread that they only do a soft credit pull (not hard) on Experian. Although Capital One's High Yield Money Market has an ACH transfer system, this Costco money market account does not. It does offer check writing privileges so you can set up transfers from other banks like GMAC Bank or HSBC.