For the next ten days, Capital One 360 is offering a $100 bonus when opening a new 360 Money Market account by December 15, 2016, and depositing at least $10k by December 31, 2016.
Ring in $100 in extra savings this holiday season.
The requirements to earn the $100 bonus are straightforward:
- Open your “very first” 360 Money Market account online by December 15, 2016.
- Use the promo code “Merry100.”
- Deposit at least $10k (from an external account) no later than December 31, 2016.
The $100 bonus will be deposited in the Money Market account approximately 6-8 weeks following the above requirements being met. Complete details about the $100 bonus are available on the Merry100 page.
While the Merry100 promotion seems simple enough, DA readers, luvmycat and buckeye61, pointed some important limitations:
Be aware that Capital One 360 does not allow beneficiaries (POD, in trust for, etc.) on their accounts.
Just a reminder, Capital One only pays a customer a bonus once, and if you have EVER had an ING Direct or Capital One 360 savings product (Orange Savings/360 Savings, CD, Money Market) you will not qualify for this bonus.
And a big thank you to DA reader, stevel, for posting this bonus deal in the Forum
CD Rate Increases
In early November, Capital One 360 raised the rates on its CDs, with increases ranging from 35 to 75 basis points. While the new APYs aren’t “wow-worthy,” they made Capital One 360 CDs competitive once again. You can read more about these CDs in my November blog post, including Capital One 360’s new 10-day rate lock guarantee.
Headquartered in McLean, Virginia, Capital One 360 is an internet bank with no brick and mortar branches. Any U.S. citizen or permanent resident with a valid Social Security number can open an account at Capital One 360.
Opening a new 360 Money Market account and applying for the $100 bonus must be done online, and must be funded from a personal checking account.
Account opening deposit must be from a personal checking account only. Please note:
We don't accept brokerage, money market or savings accounts (institutions put restrictions on these types of accounts that prevent electronic transfers).
If your check has the words "Payable Through" with another bank name listed near the memo field, it can't be linked.
Capital One 360 (FDIC Certificate # 4297) has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 6.09% (excellent), based on September 30, 2016 data. In the past year, Capital One 360 has increased its total deposits by $11.69 billion, an excellent annual growth rate of 5.86%. Please refer to our financial overview of Capital One 360 for more details.
Capital One 360 is an online banking subsidiary of the Capital One Financial Corporation. The web-only bank officially took over ING Direct in 2012, with the Capital One 360 branding first introduced at the end of 2012. With assets in excess of $279 billion, Capital One 360 is one of the largest online banks in the country.
How the $100 Bonus Compares
With no requirements other than the $10k deposit by the end of the year, this is an extra $100 from Santa. As I’ve said before, it’s better than a toaster!
The above rates are accurate as of 12/5/2016.