Capital One 360 Offers $100 Money Market Bonus


Availability: Nationally available

In March, I wrote about Capital One 360’s new 360 Money Market, which currently earns 1.00% APY on balances of $10k+.

1.00*%$10k-Capital One360 Money Market
Accounts mentioned in this post. Rates as of February 25, 2017.

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.

Bank Overview

Capital One 360 (FDIC Certificate # 4297) has an overall health grade of "A" at, 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!

  • $10k in a 360 Money Market account for three months = $100 bonus + $25.16 interest
  • $10k in a savings account earning 1% for three months = $25.16 interest
  • The above rates are accurate as of 12/5/2016.

    To look for the best MMA rates, both nationwide and state specific, please refer to our Money Market Accounts rates table or our Rates Map page.

    larkin   |     |   Comment #1
    Be aware that if  you currently have or have had a Savings product with Capital One Bank, Capital One 360 or ING DIRECT before or are a Capital One Associate, you won’t be eligible for the bonus.
    RJM   |     |   Comment #4
    Are you sure you don't mean if you got a bonus before ?
    Anonymous   |     |   Comment #5
    check the disclosure at bottom of offer. They are notorious for suckering you in and then denying bonus.......I will not do business with them agaqin
    Anonymous   |     |   Comment #7
    I tried to get in on the $500 bonus promotion they were running a little while back.

    Found out I didn't qualify because I got a $20 bonus on an old ING account about 15 or 20 years ago.
    tck   |     |   Comment #9
    Wow, that's strict.  Pretty discouraging!  Thanks for sharing.
    Anonymous   |     |   Comment #12
    It's all about following the rules.  As long as they are all disclosed up front, I see nothing wrong.   Either a person qualifies for various bonuses or the don't.
    Anonymous   |     |   Comment #13
    True. But this bank does NOT disclose everything.......even in the fine print.  Done with them.
    Anonymous   |     |   Comment #2
    What if you are a Sharebuilder customer? I'm sick of all the limitations these people put on their bonuses.
    Anonymous   |     |   Comment #15
    It's a bonus for pete's sake, - free money.  You think you yourself should set the terms for that?

    They want to attract new customers with it.  If you already do business with them presumably you like their products relative to the competition.  That's your own benefit.
    Anonymous   |     |   Comment #3
    No POD? No business from me.
    Anonymous   |     |   Comment #16
    Nor do they want it.
    CapitalClimate   |     |   Comment #6
    I'm really getting tired of wasting time reading the fine print on bonus offers. If they want deposits, they need to raise the **** rates without gimmicks!
    RJM   |     |   Comment #8
    If you currently have or have had a Savings product with Capital One Bank, Capital One 360 or ING DIRECT before or are a Capital One Associate, you won’t be eligible for the bonus.)

    Why not just say NEW CUSTOMERS ONLY ?
    Carpline   |     |   Comment #10
    Where's the fun in that?  ;)
    Anonymous   |     |   Comment #17
    Because "NEW CUSTOMERS ONLY" is ambiguous.

    If you once had an account with them but don't presently you might think you'd qualify as a "new customer" when opening a new account.

    What they DO SAY prevents any misunderstanding in that regard. 
    Rob5TCP   |     |   Comment #11
    This gets to be more of a hassle than it's worth. As stated above, just give better rates.
    Anonymous   |     |   Comment #14
    *&^% them.......They &^%$#@ me on a promotion a while back. I even read the fine print and they came back and denied the bonus. Never again. Besides you could open a Redneck bank account at 1.25% and make up the difference over several months. Eat it, Cap One. I used to have over $100k there. They will never see my money again.
    Anonymous   |     |   Comment #18
    Well, I never say "never".  Years ago I had a couple of CDs with them which paid very good interest at the time.  Once they matured, I bailed.  Now if CD rates ever go up substantially and if Capitol One offers CDs with great rates again, I will give them my money again.  It's a matter of what's in my best interest!
    Anonymous   |     |   Comment #19
    I have always done well and gotten my bonuses that they have offered.  :)
    Ron   |     |   Comment #20
    Hmm I am sure I have a trust account AND a beneficiary notation on my accounts??
    ???   |     |   Comment #21
    you are in wrong place
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