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.
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
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I got $200 bonus 3 months after I transferred 10k.
How many days after the 90 day requirement? I met the 90 days requirement yesterday and still haven’t received anything (signed up with the code).
I’m in the same boat, 90 days has come and gone… guess I’ll need to wait the additional 60 days and see what happens.
Is anyone else having problem linking to CapitalOne from other sites/institutions/apps? It’s been not working in SaverLife/Venmo/Ally since late April, which probably all use the same (or similiar) middleman integration (Plaid?). Ally’s site says it’s CapitalOne blocking third-party “apps”. CapitalOne side is clueless, but seems to imply they’ve made security changes. I do see there’s an “external apps” option now under “Security” under my CapitalOne profile, with no app listed, nor any way to add new ones. Not sure how long that’s been thee. Can log in directly into my CapitalOne account fine.
Please note that they dropped the APY from 1.6 % to 0.016% today may 07 2018. Not it’s worth doing anymore.
Where do you see that? Their website still shows 1.6%. https://www.capitalone.com/bank/savings-accounts/
https://www.capitalone.com/moneytalks
I just reverified and also on your link says same thing.
I don’t know how you’re missing this, but in size 80 font it says 1.6% on the page you posted at the top.
“Up to a $500 bonus and up to 1.60% APY?”
You may have a virus…it appears only you are seeing this reduced rate. And logically, there is no way they can drop is it so low when rates are going up. This is Capital One Bank, not just another small bank with teaser rates. At worst they may drop a few fractions down, but not like what you have said; even that is highly unlikely in these days when rates are going up and up.
Ok very strange on one browser shows 0.016 and on another 1.6 LOL. But no i do not have a virus
That’s some weird browser you must have- LOL. I’ve checked 5 different browsers I use and all show the 1.6%.
We called up Capital One, we were told that this is targeted offer. We did not try to sign up yet and use the coupon code on the link. Anyone tried it so far?
I recently opened without a bonus. Do you think they give bonus retroactively?
I’ve never seen a bank change a bank account offer retroactively. Can’t hurt to call, but know your chances are slim to none.
Cap One recently destroyed their website with the new retarded look and endlessly rotating circles. They don’t even do the math correctly anymore. Avoid them like a plague.
Does anyone know of any reliable bank that offer 2nd day ACH in/out transfers? I am sick and tired of discover/ally that take forever to ACH transfer funds.
I have Alliant and my ACH transfers are almost all next day if I submit the request before non CST. It’s rare to have a 2day transfer though and I can’t remember the last time this happened. I’ve had over 20 accounts linked to Alliant too.
By Allient, are you referring to http://www.alliantcreditunion.org/?
Yes. Also they pay 1.5% for savings and like 0.6% for checking and they also have a 3% credit card.
Waiting for Disc to match the higher rate…giving it 1 week and if not matched will jump to C1. (Not the bonus, just funds)
There are other accounts with even better rates than CapOne. Popular is 2% with o requirements except for a min balance.
Thanks for the tip, but the issues with the smaller banks:
a) Not sure how long ACH transfers take
b) would they lock up your funds at the drop of a hat and ask you to come in branch or send volumes of documentation (as has happened with Popular to some)?
c) Are those rates teasers going to drop down next month? There are not CDs…just Savings. With C1 and Disc past experience shows they would not lower unless Fed lowers rates.
d) How trustworthy the small banks are for keeping large sums of money (>10K I consider large).. While for me, Popular has paid out bonuses in the past, the general experience has not been that good. CS did not have a professional approach.
I have both C1 and Disc the big ones…so I am thinking moving between them is better than opening a new unknown account for a 0.4% jump.
It’s up to you and what you’re comfortable with.
Only drawback for Capital One is they require $10K+ to get 1.6% APY – you can always have other options with $10K+
It’s about time they removed the lifetime language.