Capital One Offers $200 Bonus For New 360 Money Market Account


Deal Summary: 360 Money Market, 1.00% APY on balances of $10k+, $200 bonus offered through June 30, 2017.

Availability: Nationally available

Now through June 30, 2017, Capital One is offering a publicly available $200 bonus when opening a new 360 Money Market account online and depositing at least $10k. In this instance, “new” really means new:

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.

In February, DA reader, stevel, wrote a Forum post about a targeted $200 bonus on Capital One’s 360 Money Market, which currently earns 1.00% APY on balances of $10k+. According to CSR, there are two 360 Money Market bonuses at this time – one targeted and the other not.

1.00*%$10k-Capital One360 Money Market
OTHER TIERS: 0.60% Up to $10k
Accounts mentioned in this post. Rates as of June 22, 2017.

The 360 Money Market has no monthly service charge, no minimum opening deposit, or minimum balance requirement.

The requirements to earn the $200 bonus are rather straightforward:

  • Open your “very first” 360 Money Market account online by June 30, 2017.
  • Use the promo code “200GROW.”
  • Deposit at least $10k (from an external account) no later than June 30, 2017.

The $200 bonus will be deposited in the Money Market account approximately 6-8 weeks following the above requirements being met. Complete details about the $200 bonus are available on the 200GROW promotion page.

While the 200GROW promotion seems simple enough, DA reader, luvmycat, makes a good point:

Be aware that Capital One 360 does not allow
beneficiaries (POD, in trust for, etc.) on their accounts.


Headquartered in McLean, Virginia, Capital One describes itself as “a diversified bank that offers a broad array of financial products and services to consumers, small businesses and commercial clients.” Any U.S. citizen or permanent resident with a valid Social Security number can open an account at Capital One.

Opening a new 360 Money Market account and applying for the $200 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 has an overall health grade of "A" at, with a Texas Ratio of 6.22% (excellent), based on December 31, 2016 data. In the past year, Capital One has increased its total non-brokered deposits by $11.17 billion, an excellent annual growth rate of 5.6%. Please refer to our financial overview of Capital One (FDIC Certificate # 4297) for more details.

Earlier this year, Capital One 360, which had operated as a stand-alone internet division following Capital’s One 2012 acquisition of ING Direct (another internet bank), was absorbed into Capital One, and no longer exists as a separate entity. Many of Capital One’s products now contain “360” in their names, i.e., 360 Money Market. With assets in excess of $286 billion, Capital One is currently the seventh largest bank in the country.

How the $200 Bonus Compares

With no requirements other than the $10k deposit by June 30, 2017, this is an easy $200. Also, the terms state that the bonus will be deposited in about 6-8 weeks following the $10k deposit. Once the bonus has been deposited, the terms say the funds will be available immediately. There are no specifications about how long the $10k deposit must remain in the account. Even if you play it safe and keep the $10k in the account for 8 weeks, you’ll earn about $15 of interest and a $200 bonus. That comes out to an effective yield of almost 14%.

The above rates are accurate as of 4/8/2017.

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.

topkapi56   |     |   Comment #1
If they offered $1000 bonus, I would still pass even if I were eligible. My past experiences with Capital One (many years ago) and Capital One 360 (Ing Direct accounts when Capital One took them over) would preclude me from ever doing business with them again.
deplorable 1
deplorable 1   |     |   Comment #2
I had a ING direct account what a decade ago so I never qualify for any of these bonuses! Total bs imo.
DCGuy   |     |   Comment #3
I got a Discover bank $100 bonus offer in the mail. I closed my savings account last year when they would not accept the promotion code when I applied for the account. The flyer has a promotion code, but it also says the bonus is valid only for people who are not previous or current customers.
gregk   |     |   Comment #4
You believe you should be the one to specify the qualifications (or disqualifications) for receiving a Capital One bonus? Suppose Capital One allowed you to qualify for their bonus if you'd not had an account with them for say 3 years? Might not that be an incentive for some current account holders to immediately close their accounts with the foresight that down the road they'd be able to extract a new bonus from Capital One? Probably not something many FI's want to encourage when they're setting parameters for such payouts. The purpose of these offers is to gain new account holders rather than lose them, or merely create a revolving door of the same people trying to repeatedly cash in.
LuvCD   |     |   Comment #5
Life is negotiation...if one wants the shelf price, take it. Otherwise everything is open for mutual agreement.
Bogey   |     |   Comment #6
Gregk, I think you nailed it with your last sentence alone.

"The purpose of these offers is to gain new account holders rather than lose them, or merely create a revolving door of the same people trying to repeatedly cash in."

Apparently that is exactly what a lot of posters here admit they attempt to do. That and force banks and credit unions to stiffen their EWPs on CDs because of too many people gaming the system.
SuperSaver   |     |   Comment #7
Super easy! After funding, the $200 bonus was posted (and available) within 6 days!
creditwarrior   |     |   Comment #8
after 2 direct deposits of $250 or more? That was quick!
SuperSaver   |     |   Comment #9
No, it was the Money Market account. $10,000 deposit.
Kurt   |     |   Comment #10
I called capital one and they told me "200GROW" was a targeted offer and since they hadn't emailed me or sent me a flyer, I wasn't eligible.
Violeta   |     |   Comment #14
I applied online, got no confirmation and when I called was told the same thing. 200GROW is a targeted offer. If you dont receive an invitation you are not eligible.
Local Guy
Local Guy   |     |   Comment #11
What a sham...I even received an email about the new Money Market account, set it up, and then found out that I don't qualify for the $200 bonus.

There's a "Grade Us" area on your main account page, right under your account routing number where you can submit complaints. I'm not sure if I'm going to dump the new account and Capital One in general, but I might. It wasn't enough of a hike in interest from the existing savings account to bother with the Money Market, except for the $200 bonus.
Robb   |     |   Comment #12
I've had nothing but positive results with Capital One 360 after opening accounts over the past year. The first I received a $200 bonus on a savings account then moved it over into a CD that was paying about the best rate at the time of the major banks recently plus their EWP is only 6 months on a 5 year CD not bad compared to some other banks.
Bon   |     |   Comment #13
Why didn't you qualify? If you received a mailer with a code saying you qualify, and then you deposited $10,000, you would qualify. Anyway, that's what they told me. I did exactly that and am very pleased. They put the $200 in within a week or two and the interest rate is 1.0 %. This is great compared to the bank I have money in, which gives me .09%.
pockynon   |     |   Comment #15
What does "does not allow beneficiaries on their accounts" mean? I could not list my daughter's as my beneficiaries on the money market account?
Nothing   |     |   Comment #17
Pocky...don't die!
hsf   |     |   Comment #16
Where do I find the Sign-up-form for this offer? I can't seem to locate it.
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