Capital One 360 Money Market®: Earn Up to $500 & a Top Rate on Qualifying Balances

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This deal post was written by Lauren Perez

Deal Summary: $500 Bonus when you deposit $10k+ in new funds into a new 360 Money Market account and maintain at least $50k. $200 Bonus available when you maintain between $10k and $50k.

Availability: Nationwide

Capital One offers the chance to earn up to $500 in bonus money with its new money market account promotion. You must deposit at least $10k in new money within 10 days of enrollment, the Initial Funding Period. To earn the $500 bonus, you must then maintain a balance of $50k or more for 90 days following the Initial Funding Period. Maintaining a lower balance between $10k and $50k for those 90 days will earn a $200 reward. It’s important you maintain the full balance for all 90 days. If your balance dips below $50k at any point, you’ll redeem the $200 bonus, even if you make additional deposits to boost it back up.

There is no hard credit pull when you apply for the 360 Money Market account. You can enroll through this Capital One promotion page and using the promotional code “EARN500” by May 19, 2019. If you own or previously owned a Capital One savings product (except CDs) after Jan. 1, 2016, you cannot redeem this offer. You also cannot combine this offer with any other new savings account opening offer with Capital One Bank.

360 Money Market Account Overview

Capital One offers a suite of high-yield accounts, including its 360 Money Market® account. It offers consistently competitive rates on higher balances. Its lower balance tier still outearns the average money market rate, allowing all other balances to boost savings as well. You can check out the account’s rate history by clicking the “details” arrow of the following table:

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.00*%$10k-Capital One360 Money Market
OTHER TIERS: 0.85% Up to $10k
Rates as of March 20, 2019.

The Capital One 360 Money Market account is a good savings choice for its $0 monthly fee charge. It’s not a good choice if you’re looking for easy access, since the account doesn’t include a debit card or the option to write checks. Instead, you can log into your online account, call the bank’s Interactive Phone Service or call a Capital One Associate to make a withdrawal. You can deposit money online or on mobile by setting up transfers from another Capital One account or external bank account or by visiting a Capital One location.

Here’s a summary of other important features of a 360 Money Market account:

  • No minimum deposit
  • Can be opened as single or joint account
  • Limited to six transfers and withdrawals per statement cycle
  • Check deposits and bank-initiated ACH deposits take 4 business days
  • Cash deposits, ACH direct deposits and incoming wire transfers will be available the same business day
  • Checks drawn on a Capital One, N.A., account will be available the next business day
  • You may add up to 10 POD beneficiaries on the account, unless it is a Trust account
  • $30 domestic wire transfer fee

Availability

Capital One 360 accounts are the online banking products of Capital One, N.A. and Capital One Bank (USA), N.A., which provide FDIC insurance for your deposits. Its savings, checking, money market and CD accounts are available nationwide online, on mobile and at Capital One locations. Accounts are available to U.S. citizens or lawful permanent residents with a U.S. physical address who are at least 18 years old with a valid Social Security Number.

To be eligible for the $500 or $200 bonus, you must use the promotional code EARN500 when opening a new 360 Money Market account by 1:59 PM EST on 5/19/19.

Bank Overview

Capital One, a subsidiary of the Capital One Financial Corporation, took over ING Direct in 2012 and currently offers a full suite of banking products for both personal and business use. Its online banking arm, offers fee-free savings, money market, CD and checking accounts. You can access select accounts with a free issued MasterCard debit card at any Capital One Cafe, branch or in-network ATM.

As of the latest FDIC data (December 31, 2018), the bank has $305 billion in assets and $238 billion in deposits. The bank has an overall health rating of “A+” on DepositAccounts.com, with an excellent Texas Ratio of 2.64% as of December 31, 2018. In the past year, Capital One grew its total non-brokered deposits by 7.07%, or by $15.28 billion. Please refer to our financial overview of Capital One (FDIC Certificate # 4297) for more details.

Value of the Online Savings Account Bonus

If the 360 Money Market account keeps its 2.00% APY for the next three months, a $50k balance will earn about $250 of interest. Tacking on that $500 bonus would boost your total earnings to to about $750. That’s a pretty good chunk of change just for opening a new account. It would take about nine months to earn that much in interest without the added bonus.

If you can’t reach that $50k minimum, or your balance drops below that threshold at any time during the 90-day qualifying period, you’ll earn the $200 bonus. Not only will this drop your reward, but it will also minimize the amount of interest you earn.

All in all, this new Capital One 360 Money Market promotion is a good deal for those with balances of $50k and over. That will snag the higher bonus amount and earn way more in interest over time.

Be sure to check out our full list of savings and checking account bonus offers.

Related Pages: money market accounts, nationwide deals, bank bonuses, Internet banks

Comments
willy12
willy12   |     |   Comment #1
If you own or previously owned a Capital One savings product (except CDs) after Jan. 1, 2016, you cannot redeem this offer.
--------
This counts me out. I had an old ING account turned capital one that I just closed last year.
deplorable 1
deplorable 1   |     |   Comment #18
I had a ING direct account many years ago and I still think they are excluding us from these offers even though there is nothing in the fine print about former ING direct customers.
RRR
RRR   |     |   Comment #20
Unless you had a non-CD account open after January 1st 2016, it doesn't appear that you are excluded. So if you only had an ING account, and never a Capital One account your account would have been closed long before that date. So you would be eligible.
willy12
willy12   |     |   Comment #24
ING savings were automatically converted to Cap Ones. We had no say in the matter. I left my account open for years until last year when I closed it.

But my read is I had a capital one savings after Jan 2016 so therefore, I would not qualify.
111
111   |     |   Comment #23
FYI, I had an ING liquid account back in the day also. The last time this general type of offer from Capital One came up, I called them (as we know, ING was acquired by CapOne). They said that the ING account WOULD be considered "a previous Capital One account" for the purposes of this offer; therefore I would NOT be eligible for the offer.
I closed my CapOne (formerly ING) account only last year. My guess is that many folks may have kept their CapOne (formerly ING) accounts open but minimally funded until as recently as last year, thus making them ineligible for this offer.
deplorable 1
deplorable 1   |     |   Comment #32
I closed my ING account many years ago when it was still ING before the switch to Cap 1. For many years afterward they included in the fine print that former ING customers were specifically disqualified from any and all Cap 1 bonuses. I'm wondering if I can start doing these bonuses again or If there is something in their computer system that will permanently disqualify me.
larry
larry   |     |   Comment #34
d1 Comment #32 I think so and there is another cap1 bonus that does not have the language. Go look at the 2/4/6 mm
Hihi
Hihi   |     |   Comment #2
About a 6.08% 3 month cd
Okie
Okie   |     |   Comment #15
The 10k deposit for three months (8% rate) is a better deal than the 50k (4% rate) deposit for three months.
Okie
Okie   |     |   Comment #16
Did the math wrong, the 10k and 50k deposit both earn same rate of 4% for three months.
Okie
Okie   |     |   Comment #17
Sorry, my previous calculation was right, 10k is a better deal at 8% for three months than the 50k deposit at 4% for three months. The interest rates for the 10k and 50k deposit are not the same.
deplorable 1
deplorable 1   |     |   Comment #22
I didn't see you post and I just posted the same thing. Nice to see someone else getting it. You could have the other $40,000 working on other bonuses.
Hihihi
Hihihi   |     |   Comment #26
Of course this depends on how much resources you have to deploy
CSample
CSample   |     |   Comment #27
I have a different way of evaluating this opportunity that, for me, leads to a different conclusion than what you view as "getting it." It's fine for you to stick with your approach, but others may want to look at this a different way.

I agree the $10k yields 10% (including the 2% fixed) over 3 months and the $50k yields 6% (including the 2% fixed) over 3 months. The $10k investment clearly pays well and is worth considering. Then, you should ask if it's worthwhile to invest another $40k that would earn 5%. Combined, the $10k @10% plus $40k @5% totals $50k at 6%. For me, it makes sense to grab the $50k opportunity since I'm good with earning 5% on that $40k extra investment.
Fred
Fred   |     |   Comment #3
Is there a page on the Capital One website for this?
diamondx
diamondx   |     |   Comment #6
It's listed on the "Savings Accounts" link above --click on the "bonus offers".
Fred
Fred   |     |   Comment #7
Thanks. I'm guessing the "$500 Bonus when you deposit $10k+ in new funds into a new or existing 36- Money Market account and maintain at least $50k" at the top of this post is some kind of copy-paste error.
diamondx
diamondx   |     |   Comment #11
up to a 500 bonus ----u need to deposit 50k for the 500. It's not that difficult to understand; less money -10k- gets less bonus $, more money -50k- gets the full bonus.
Fred
Fred   |     |   Comment #14
Thank you, that's helpful, and not at all stupid or indicative that you didn't read the pre-edited post.
Jerry
Jerry   |     |   Comment #4
This offer, I believe excludes 90% of DA readers who did it last year for about the same conditions.
diamondx
diamondx   |     |   Comment #5
They just had a $1000 bonus special a couple-ish months ago. The deposit amount was 150k on that special.
Anon
Anon   |     |   Comment #8
Please clarify this post with regard to existing Capital One account holders. There appears to be contradictory terms in your Deal Summary (deposit $10k+ in new funds into a new or existing 36- Money Market account) and the 3rd paragraph (If you own or previously owned a Capital One savings product (except CDs) after Jan. 1, 2016, you cannot redeem this offer.)

Your post also seems to omit the link to the offer: https://www.capitalone.com/earn500
Thx
gregk
gregk   |     |   Comment #12
I'd like the same clarification Anon (comment #8) requests. There are indeed contradictory statements as to whether existing Capital One account holders can qualify.
LaurenPerez
LaurenPerez   |     |   Comment #13
Thank you for your comments! We've edited the post to best reflect the offer which is available to new customers only.
#28 - This comment has been removed for violating our comment policy.
Jean
Jean   |     |   Comment #9
Usually I just toss those offers aside when they come in the mail. I may go ahead and do this one. $750 would come in handy for a few things. Thanks Lauren Perez.
diamondx
diamondx   |     |   Comment #10
? $750 ...where are you seeing that ?
Jean
Jean   |     |   Comment #19
diamondx it's in the last part of the article. Lauren said:

Value of the Online Savings Account Bonus

"If the 360 Money Market account keeps its 2.00% APY for the next three months, a $50k balance will earn about $250 of interest. Tacking on that $500 bonus would boost your total earnings to to about $750. That’s a pretty good chunk of change just for opening a new account. It would take about nine months to earn that much in interest without the added bonus."
willy12
willy12   |     |   Comment #25
Its overstating reality. Most of us have a 2.50% account that would pay $312.50 in 3 months. So $750 less $312.50 is $427.50. Still a nice deal for sure, if you qualify, but your real net gain is 43% less than $750.

Don't get me wrong, it's worth doing and I would if I could.
Phil
Phil   |     |   Comment #29
You can't just blindly accept what Lauren writes. You need think critically and at least not ignore opportunity costs.
diamondx
diamondx   |     |   Comment #30
Jean, so there is no 750 bonus -just the 500. The interest is not part of the bonus.
Some people just have to add their own drama for no reason.
DAFan
DAFan   |     |   Comment #31
Drama? OMG! We're just talking about a simple savings account. What's up with all the disparaging immature comments? I will add that $500 + interest ($750) to my grandson's savings account. Good day!
Thanks again to Lauren for the bonus alert.
deplorable 1
deplorable 1   |     |   Comment #21
As usual with these bonuses the $200 bonus represents the higher ROI.
$10,000 x .08(8%) = $800/4 = $200
$50,000 x .04(4%) = $2,000/4 = $500
So as we can see the smaller bonus yields twice the return. I didn't include the interest rate because that is constant.
Phil
Phil   |     |   Comment #33
"Its lower balance tier still outearns the average money market rate, allowing all other balances to boost savings as well."

What? Is Lauren Perez recommending balances under $10K be kept in an account earning 0.85% instead of 360 Savings (1%) or the many other 2+% options outside Capital One?
Phil
Phil   |     |   Comment #35
"If you can’t reach that $50k minimum, or your balance drops below that threshold at any time during the 90-day qualifying period, you’ll earn the $200 bonus. Not only will this drop your reward, but it will also minimize the amount of interest you earn."

What? The amount of interest will be reduced, not minimized. You'll need to move to a 0% account to minimize interest.
boston02116
boston02116   |     |   Comment #36
Are there fees that eat into the bonus?
SMT1
SMT1   |     |   Comment #37
Boston2016 #36. There is a $30 wire transfer fee out of account. I don't know if there is a limit on ACH transfers. Hopefully, $50k ACH transfer would be allowed to avoid the Wire transfer fee.
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Availability: Nationwide

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