Another change to this account is that it only requires $1,000 to open rather than $5,000. However, you still need $5,000 for the bonus.
The current yield on this account is 5.20% APY. In January, the rate was increased from 5% to 5.20%. The rates on this money market account have remained very competitive, and have typically remained about 0.20% above Capital One's regular money market account yields.
The Capital One/Costco Money Market account has no fees, but it requires a balance of $100 to earn the 5.20% APY. Both personal and business accounts can be opened. It offers free checks and an ATM card. It also has an ACH transfer system for making electronic funds transfers to and from your other banks.
For more information on Capital One and this account, please refer to this January post.
Thanks to the reader who mentioned this promo update in the finding deals post.