[Expired] Capital One Business Savings Bonus – Bonus of $250-$1,000 (Requires $25,000-$250,000 Deposited For Six Months)

Deal has expired, view the best current Capital One bonuses here.

Update 08/04/18: bonus is back, but still not worth doing as effectively 2% APY account for first six months. Hat tip to reader YAR

Fine print states that the “Offers are strictly non-transferable”. So this might be a targeted offer, in the past this language has not been enforced by Capital One.

Offer at a glance

• Maximum bonus amount: $1,000
• Availability: Nationwide
• APY: 1.1% for one year
• Hard/soft pull: Soft pull
• ChexSystems: Mixed
• Credit card funding: None
• Monthly fees: $3, avoidable
• Early account termination fee:
• Household limit: None listed
• Expiration date: November 3rd, 2017 December 1st, 2017 August 31st, 2018

The Offer

Direct link to offer

• Capital One is offering a 1.10% APY for 12 months and a bonus of up to $1,000 when you open a new Business Advantage Savings Account. Bonus is broken down as follows:
  • $250 bonus with a 6-month average balance of $25,000
  • $1,000 bonus with a 6-month average balance of $250,000

 

The Fine Print

• 1.10% APY Offer: Offers are strictly non-transferable.
• This promotion is only available to new Business Advantage Savings account customers.
• Not applicable for converted accounts.
• This promotional Annual Percentage Yield (APY) is only available to new Business Advantage Savings account customers. (The promotional APY applies to the first $1 million in account balances. A lower APY will apply to any portion of balances above $1 million which will be the currently effective non-promotional rate for this product.) A
• dvertised APY is current as of 8/17/17.
• Promotional rate will expire 365 days after account opening and standard APY as of that date will apply to entire balance.
• Tiered Cash Bonus: The offer begins on 10/2/2017 and expires on 11/03/2017.
• The offer is available to new Capital One Business Advantage Savings account customers.
• To qualify, you must open a new Business Advantage Savings account before the offer expires. Financial institutions are not eligible for this offer.
• To qualify for the offer, customers must fund from an external source.
• Any funds transferred from an existing Capital One bank account (Consumer or Small Business) will not be counted toward the balance threshold for payment.
• Customers that are new to Capital One Business Advantage Savings who maintain an average daily balance of at least $25,000 for each month during the six months after the month the account is opened will receive one payment of $100.
• Customers that are new to Capital One Business Advantage Savings who maintain an average daily balance of at least $250,000 for each month during the six months after the month the account is opened will receive one payment of $1,000.
• Payment will be credited to newly opened Business Advantage Savings account by June 30, 2018.
• This offer cannot be combined with any other Capital One Small Business Bank new account opening offer and is strictly non-transferable.
• Limit one offer per customer that can only be applied to one Business Advantage Savings account. Newly opened savings account must be open and in good standing to receive the credit. F
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

There is a monthly fee of $3 if the balance drops below $300.

Our Verdict

This basically just works out to be an APY of 2% for the first six months and then drops to the lower 1.1% APY rate. Not worth bothering with when other accounts earn 2%+ APY long term. Rewards accounts earn up to 5% APY. Because of that I won’t be adding this to our list of the best savings account bonuses.

Big thanks to reader, Abey who let us know. Learn how to find bonuses and contribute to the site here.

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• Introduction To ChexSystems
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