Posted by William Charles on February 27, 2018
Bank Account Bonuses

Published on February 27th, 2018 | by William Charles

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[Expired] [YMMV] Capital One $200 Money Market Account Bonus + 1.5% APY

This bonus has expired, click here for other Capital One bank bonuses or here for the best current checking bonuses.

Bonus is back and valid until March 31st, 2018.

Please note the fine print states: You must have received an email or mail piece directly from Capital One with a promotional code. This hasn’t been enforced in the past (e.g last time here)

Offer at a glance

  • Maximum bonus amount: $200
  • Availability: Nationwide, but does contain targeted language (not enforced in the past)
  • Direct deposit required: None
  • Additional requirements: See below
  • 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: March 31st, 2018

The Offer

Direct link to offer

  • Capital One is offering a bonus of $200 when you open a 360 Money Market account and complete the following requirements:
    • Use promo code GAIN200
    • Deposit $10,000 or more by March 31st, 2018

 

The Fine Print

  • To qualify for the $200 bonus, deposit at least $10,000.00 from a non-Capital One account no later than 3/31/2018 11:59 p.m., E.T
  • You must have received an email or mail piece directly from Capital One with a promotional code.
  • If you currently have or have had a Savings product with Capital One Bank, Capital One 360 or ING DIRECT before then you won’t be eligible for the bonus.
  • This offer cannot be combined with any other new account opening offer, and is strictly non-transferable. This offer is not valid for multiple accounts.
  • If you qualify for a bonus, Capital One will deposit the bonus money into your account within 60 days of completing the above conditions. 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

Cumulative deposits have worked previously to trigger the $10,000 bonus requirement (e.g depositing & withdrawing $1,000 10 times has worked). They did offer a bonus recently that only required a deposit of $1,000 instead of $10,000. They also offered a $500 money market deal as well but that required deposit of $50,000+. It might make sense to just wait for a public bonus to come along, but I’d say the chances of this one working are quite high and the cumulative deposits makes it achievable for most people. I probably won’t add it to the best savings account bonuses purely because of the targeted language in the fine print.

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

Useful posts regarding bank bonuses:



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Bill
Bill

I had a capital 360 money market account about a year ago. Does anyone know if would be eligible for this bonus?

Ken
Ken

Capital One is very strict about this. even if you’ve had an account with a bank they bought out 15 years ago you’re still ineligible. Not sure if it’s actually enforced though. Per the terms:

If you currently have or have had a Savings product with Capital One Bank, Capital One 360 or ING DIRECT before then you won’t be eligible for the bonus.

Jeff Bauer
Jeff Bauer

I applied using the direct link. The GAIN200 promo code automatically appeared in the online form. However, as I was about to initiate the funds transfer, the following message appeared at the top of the screen:

“The promo code you have entered is not valid.”

So I didn’t complete opening the account. If it matters, I already had a credit card with Capital One, though no bank accounts. It’s possible from my CC account they were able to check that the promo offer didn’t apply to me. I’m posting this comment to advise everyone to check their application form for the above warning message before they initiate funds transfer.

Yati
Yati

I just got the same message, so i’m not continuing. Would love to hear about someone else’s experience if they do continue though.

Jackalope
Jackalope

Just to be clear, you don’t have to keep or maintain the $10,000+ in the account to get the bonus?

chris a
chris a

Thats right. You just have to deposit $10000 to get the bonus. But if you are opening this account for long term earning1.4% APY then you will need a minimum of 10k in your account. otherwise, you earn a very low rate.

Fred
Fred

I did this in November 2017 without getting the bonus. Then I contacted customer service and they said the promo code was not honored…

So I just stay away from Capital One and, by the way, US Bank.

Superchurn
Superchurn

“wasn’t honored”?

Sounds like a reason to file CFPB complaint against them. They can’t just decide not to honor an advertised promotion like that

Fred
Fred

Yes, I did file a CFPB complaint. Today, I receive a $200 check from Capital One. Total surprise.

DP: $200 bonus received in check after filing a CFPB complaint

CJ
CJ

Did you received targeted email or mail when you applied?

Too Good 2B!
Too Good 2B!

Actually was targeted for this bonus! Opened today, plan on recycling $3500 a few times to get to the 10k deposit requirement.

EGIG
EGIG

So could I deposit the 10K withdraw it the next day and get $200 in 60 days?

Too Good 2B!
Too Good 2B!

Cap One puts a hold on the funds. Probably not able to withdraw it the next day, but under a week I’m sure.

Too Good 2B!
Too Good 2B!

Update:
1/19: $3500 deposit
1/30: $3500 deposit
2/8: $3500 deposit
2/13: Cha-Ching! $200 bonus posted

T
T

Jan 16 – Opened account and deposited $10,000
Jan 23 – $200 credited to savings account

JC
JC

Not targeted. Called them and was told that being target was not necessary. Open and received the bonus in two weeks.

Ken
Ken

Have you had a CapOne account in the past?

JC
JC

No

Ken
Ken

Has anyone had any CapOne savings account and received the bonus for a new savings/money market account.

Wisco
Wisco

I was not targeted, but signed up for it anyway. Account approved on 1/27/18, transferred 10k in on single transfer on 2/1/18, money is being held until 2/7/18 (they do a 4 day hold on all incoming transfers), bonus posted 2/6/18 (before the 10k was even available!

Ken
Ken

Have you ever had an ING or Capital One account in the past?

Wisco
Wisco

no to both

Ken
Ken

Ok, thanks. Was hoping they weren’t enforcing their strict rules.

MoreSun
MoreSun

I had the same hope last summer and gave it a 2nd go. No bonus.

Mikey
Mikey

2/15/18 Raised to 1.5%

gene
gene

so if someone has a savings account but not a money market are they eligible for money market bonus promos? Can someone who has an account get a referral bonus to refer a friend to open an MM account if the friend has an existing checking or savings but no MM?

Ken
Ken

Money market is considered a savings account 😉

Satellite
Satellite

Opened on 2/11/2018, deposit posted on or before 2/16 (the deadline). No bonus as of 2/20. Should I wait the required 60 days? It seems most people received their bonuses much sooner.

Michael
Michael

Just to give a DP, I tried this a few months ago using a promo code, met requirements but was not targeted. Bonus never posted so after awhile I contacted them and they said I was not eligible as I was not targeted (I told them I did receive a mailer).

chinagel
chinagel

on the last page it still says money must be deposited by 2/16

Grant
Grant

Ditto – had the exact same experience. No luck for me

HI
HI

Would being a joint account holder (i.e. not the Primary Account Holder) to a Money Market Account disqualify someone from opening their own personal account and receiving the bonus?

Dan
Dan

Still says money must be deposited by 2/16/2018 within the application even though the link posted by DOC says 3/31/2018. Aborted application because of 2/16/2018 language.

elegua
elegua

Where did you see that?, here what i see in the link provided by DoC: “How do I earn a bonus? To qualify for the $200 bonus, deposit at least $10,000.00 from a non-Capital One account no later than 3/31/2018 11:59 p.m., E.T. “

jmgh
jmgh

Elegua, if you continue with the application, you will see the 2/16/2018 deadline stated. I aborted the application because of this as well.

Raj
Raj

Same here , not sure if we receive the 200$ as mentioned in the post

Matt
Matt

Wasn’t targeted initially and aborted first time due to that 2/16 language but received a week later an e-mail that “there is still time” to open my account with the 3/31 language for the deposit. I wasn’t initially targeted but that e-mail convinced me that it should work, so I tried it out and ignored the 2/16 date during the application. Transferred 10k and the bonus posted a week later.

Ranga
Ranga

Yes. I see the same thing after creating the account. Also , did you add promo code anywhere? I didn’t see it while creating the account

Clow
Clow

When I got to the final confirmation screen, the bonus expiration date was 10 days EARLIER. I did not submit the application.

I was not targeted with a mailer.

Leonel
Leonel

I did the $400 bonus. Got paid 2 weeks after completing the requirements. I was in the process of migrating my payments to make this my secondary account due to the APY but then the first security event happens. A bunch of transactions appeared. All were reverted but it happened a second time abs decided to close due to security concerns. Also 3 times I could not access my account for more than 4 hours due to technical problems. Be careful!!!

Ella
Ella

I have capital one 360 checking account, am i qualified for this offer?

Leonel
Leonel

No, offer is for new customers that never had this account. Fine print ” If you currently have or have had a Savings product with Capital One Bank, Capital One 360 or ING DIRECT before then you won’t be eligible for the bonus.”

JohnK
JohnK

He said he has a checking account, not a savings account, so he is qualified.

Ranga
Ranga

Is the offer still active? The link says it is valid till 3/31 but after creating the account, it has some text saying “we need to deposit before 2/16”

Justin
Justin

Had the same 2/16 error pop up on the final screen but called into CapOne and the rep added the offer to my account as well as made notes in my acct that I was eligible (I was targeted via email).

Gaurav
Gaurav

Another data point. I opened this in November. My wife was targeted with the Save200 code but I was not. She got the bonus right away but nothing showed up in my account. I called today since the 60 day window had passed. Rep looked at the account and said that I had met all the requirements, wasn’t sure why I didn’t get the bonus. She credited my while I was on the phone (4×50 transactions for a $200 credit). Glad it worked out.

Lisa
Lisa

Any thoughts if they might provide better bonus option in the future?

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