[Expired] Capital One $500 Money Market Account Bonus

Offer has expired, the $200 offer is still valid through December 14th, 2018

Offer at a glance

• Maximum bonus amount: $500
• Availability: Nationwide
• Deposits required: $50,000
• Deposit length: None
• APY: 1.8% APY
• Hard/soft pull: Soft, as long as you opt out of overdraft protection
• ChexSystems: Mixed
• Credit card funding: None
• Monthly fees: None
• Early account termination fee: None
• Household limit: None
• Expiration date: October 31st, 2018

The Offer

Direct link to offer

Capital One is offering a bonus of $500 when you open a 360 Money Market account and complete the following requirements:

• Use promo code OFFER500
• Deposit $50,000 or more by October 31, 2018 (cumulative deposits have worked on similar bonuses before)

The Fine Print

• Open a 360 Money Market account and deposit at least $50,000 between 12:00 a.m. ET on September 1, 2018, and 11:59 p.m. ET on October 31, 2018.
• When you open your account, enter your promotional code—OFFER500. (Please do not share this code with others.)
• Deposits must be from another bank (transfers between Capital One accounts will not qualify).
• If you have or had an open savings product with Capital One after January 1, 2016, you’re ineligible for the bonus.
• This offer cannot be combined with any other Capital One Bank or Capital One 360 new account opening offer.
• Bonus is only valid for one account
• Capital One will deposit the $500 bonus money into your account within 60 days after completing the above conditions. If your account is in default, closed, or suspended, or otherwise not in good standing, you will not receive the bonus.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

There are no monthly fees

Early Account Termination Fee

There is no early account termination fee

Our Verdict

Cumulative deposits (e.g depositing funds, withdrawing and then redepositing) has worked for previous offers and I don’t see anything in the fine print that excludes it on this offer either. In addition there is no language that states this offer is targeted. The standard recent offer has been a bonus of $200 for depositing $10,000. Given that cumulative deposits work and you have until October 31st to hit the $50,000 in deposits required, I do think this is the better bonus. Keep in mind as this is a money market account you’re restricted to six withdrawals per month, so you could do a maximum of 12 during the promotional period. Because of that you’ll still need $4,167+ to be able to complete the deal (and even that would be pushing it). I’ll be adding this to our list of the best saving account bonuses.

Big thanks to readers, IS250, MTPDC & DTJ who let us know. Learn how to find bonuses and contribute to the site here.

Useful posts regarding bank bonuses:

• A Beginners Guide To Bank Account Bonuses
• Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
• PSA: Don’t Call The Bank
• Introduction To ChexSystems
• Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
• What Banks & Credit Unions Do/Don’t Pull ChexSystems?
• How To Use Our Direct Deposit Page For Bank Bonuses Page
• Common Bank Bonus Misconceptions + Why You Should Give Them A Go
• How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
• Affiliate Links & Bank Bonuses – We Won’t Be Using Them
• Complete List Of Ways To Close Bank Accounts At Each Bank
• Banks That Allow/Don’t Allow Out Of State Checking Applications
• Bank Bonus Posting Times