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Offer at a glance
- Maximum bonus amount:Â $1,000
- Availability:Â Nationwide
- Deposit Required: $10,000-$150,000+
- Deposit Length: 10 days from account opening
- Hard/soft pull:Â Â Soft, as long as you opt out of overdraft protection
- ChexSystems:Mixed
- Credit card funding:Â None
- Monthly fees:Â None
- Early account termination fee:Â None
- Household limit:Â None listed
- Expiration date:Â December 31st, 2018
The Offer
- Capital One is offering a bonus of up to $1,000. To receive the bonus you must use the promo code VALUE2018 & deposit a set amount of funds within the first 10 days of account opening and then maintain that balance during the first 10 days. The bonus tiers are as follows:
- Earn a $1,000 bonus for deposits of $150,000 or more
- Earn a $200 bonus for deposits of $10,000 to $149,999
The Fine Print
- Open a 360 Money Market account between 12:00 a.m. ET on November 1, 2018, and 11:59 p.m. ET on December 31, 2018. If you have or had an open savings product with Capital One after January 1, 2016, you’re ineligible for the bonus.
- Enter your promotional code—VALUE2018. (Please do not share this code with others.) 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.
- Once the account is opened, you must deposit $10,000 or more from another bank (transfers between Capital One accounts will not qualify) within 10 days (Initial Funding Period). Your bonus will be calculated as follows: based on your total balance at the end of the Initial Funding Period; accounts with balances between $10,000–$149,999.99 will earn $200 and accounts with balances of $150,000 or more will earn $1,000.
- Capital One will deposit the bonus into your account within 60 days after the end of the Initial Funding Period. 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
This account has no monthly fees and there is also no early account termination fee.
Our Verdict
I don’t actually see anything in the fine print that says this bonus is targeted. It tells you not to share the code, but it doesn’t say anything about having to have received a mailer to be eligible (and Capital One does usually specify this). Balances over $10,000 will earn a 2% APY. You basically just need to put the funds in the account for a day or so towards the end of the first 10 days to qualify for the bonus. The problem is that most people won’t have a spare $150,000 in liquid funds that they can just quickly move across. If you do, then this bonus is worth doing. Previous offers have been for $200-$600 or $500. I’ll be adding this to the best savings bonus page but with the caveat that only the $1,000 bonus is worth doing and that requires $150,000.
Big thanks to reader, Yoni who let us know. Learn how to find bonuses and contribute to the site here.
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