Deal has expired, view more Capital One deals here or more bank account bonuses here.
Offer at a glance
- Maximum bonus amount: $500
- Availability: Nationwide
- Deposit required: $10,000-$100,000
- Additional requirements: Maintain balance for 90 days
- 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: June 30th, 2018
The Offer
- Capital One is offering a bonus of up to $500 when you open a new money market account with the promo code MONEY2018. The account earns 1.6% APY. The bonus you receive will depend on how much you deposit within 10 days of account opening. In addition this balance must be maintained for 90 days:
- $100 Bonus – You maintained a balance of $20,000-$39,999 for the first 90 days following the Initial Funding Period.
- $200 Bonus – You maintained a balance of $40,000-$59,999 for the first 90 days following the Initial Funding Period.
- $300 Bonus – You maintained a balance of $60,000-$79,999 for the first 90 days following the Initial Funding Period.
- $400 Bonus – You maintained a balance of $80,000-$99,999 for the first 90 days following the Initial Funding Period.
- $500 Bonus – You maintained a balance of $100,000 or more for the first 90 days following the Initial Funding Period.
The Fine Print
- To earn your bonus, you must open a 360 Money Market account and deposit at least $20,000 no later than 06/30/2018.
- If you have, or have had, an open savings product with Capital One after January 1, 2016, then you won’t be eligible for the bonus.
- Your bonus will be based on the lowest amount maintained for 90 days. If your balance drops to a lower tier at any point during the 90-day period, you will earn the lower tier bonus. If you make additional deposits during the 90-day period to reach the next level tier, you will still only be eligible for the lower tiered balance.
- This bonus offer cannot be combined with any other Capital One Bank or Capital One 360 new account opening offer and is strictly nontransferable. The offer is not valid for multiple accounts.
- To earn a bonus your account must be funded with at least $20,000 in the first 10 days of account opening (Initial Funding Period) from a non-Capital One account. The amount of your bonus will be determined as follows:
- $100 Bonus – You maintained a balance of $20,000-$39,999 for the first 90 days following the Initial Funding Period.
- $200 Bonus – You maintained a balance of $40,000-$59,999 for the first 90 days following the Initial Funding Period.
- $300 Bonus – You maintained a balance of $60,000-$79,999 for the first 90 days following the Initial Funding Period.
- $400 Bonus – You maintained a balance of $80,000-$99,999 for the first 90 days following the Initial Funding Period.
- $500 Bonus – You maintained a balance of $100,000 or more for the first 90 days following the Initial Funding Period.
- If you qualify for a bonus, Capital One will deposit the bonus money into your account in approximately 60 days following the 90-day balance maintenance period. Once it’s deposited, the funds will be available immediately. Account must be in good standing (not in default, closed, or suspended, or otherwise not in good standing)
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
This account has no monthly fees and there is also no early account termination fee.
Our Verdict
Currently it’s possible to get a bonus of up to $600, that $600 bonus is better at every level than this $500. There is one key difference and that’s the fact that this $500 offer states you’re not eligible if you’ve held a money market account since 2016, whereas the other offer says you’re not eligible if you’ve ever had one. We’ve also seen bonuses of $200 that only required $1,000 deposited.
The nice thing about this account is it earns 1.6% APY as well, this isn’t the highest basic savings account rate (top is currently 2% APY) but at least it’s competitive. Personally I’d recommend waiting for a better offer to come along as I think the 2016 language will become standard across all overs in the future. Because of the fact there is currently a better bonus and we’ve seen better bonuses in the past we won’t be adding this to the best checking bonuses.
Big thanks to reader, Denise who let us know. Learn how to find bonuses and contribute to the site here.
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