Capital One 360 Money Market

[FiveDriver]

Does anyone have experience opening their first CapOne MM Account ?

Is it all done online and then you mail them a $10K check ??
Or do you set up an ACH Transfer with local Bank ?

The deadline appears to be 3/31/17 to get their $200 Bonus.
Do we think there will be a bigger bonus next quarter ??

Any hidden requirements that I don't see in their fine print ??
Debit Card Transactions ?? Additional Direct Deposits ??

 

[RunningBum]

Pretty sure I did an ACH transfer. I don't remember mailing a check. No idea on the bonus. I haven't run into any fine print issues.

 

[Aerides]

Looks pretty simple. I'm going to do an ACH transfer and then sit for 8 weeks.

1% APR isn't bad either for a bank alternative.

ETA: I will do it if they stop having "technical issues" requiring me to re-enter all data....

 

[DrRoy]

We have had an account there for a couple years; used ACH transfers. No problems.

 

[iloveyoga]

I've used them for quite a few years with no issues, and their bonuses work well, unlike some companies.

 

[Mykle57]

Five,
You've pretty much got it. online app, then mail or EFT money into the account. Don't think you'd be able to used their Mobile Deposit for a check that large. Their telephone support is very helpful; give them a call if you've got questions.

Been using them for a while now. Can't think of any (negative) surprises to date. Their website experience and their phone app are very good. No branches near me, but, there are CapitalOne ATMs at the local Target stores (which help avoid fees on cash withdrawals). Got a credit card from them too. All good experiences.

 

[wrl11]

I have used this and their checking account for a couple of years and have been very happy. I transferred money in. I have not encountered any fees.

 

[vince]

I've had an account with them since 2007. Once you set up an ACH transfer moveing money is very simple. No complaints at all.

 

[Vagabond2020]

$200 is the best bonus I have ever seen for a $10k deposit.

I opened mine a few months ago when they were offering $100. When $200 popped up I convinced my SO to jump on it ASAP.

 

[jonat]

I did ACH - have my MM account there. Transfers happen very quickly - next business day usually.

 

[brucethebroker]

Thanks for the post, 5. Have been wondering the same thing...

 

[FiveDriver]

I'm going in......with the $200 bonus, that's 3% on $10K. I wonder if I can start the Application on a Saturday ?? Or just get my stuff together and do it Monday AM.

Sidebar Discussion -- I have a Credit Card managed by Synchrony Bank, another one of the high yield savings account players. They have not impressed me with the Customer Service. I would not look to them for anything beyond their basic Credit Card.

 

[Gotadimple]

Capital One is a good company, their web site is easy to navigate, transfers happen timely. But. 0.6% on a money market account is mediocre. There are other companies that offer Money Market accounts with good customer service, that exceed this rate.

As an example: American Express Bank paying 0.9% on money market accounts. Yes they do credit cards, yes they offer CDs, yes you can reach a real person when needed, yes the web site is easy to use, and tranfers happen timely. But, they don't offer everything CapOne does.

All depends on what is important to you. I like CapOne, I like Amex 0.3% better.

Rita

 

[FiveDriver]

I read CapOne as 1% on a new $10K deposit, plus the $200 kicker.

I also see where their new CD rates have moved up.....12 month is 1.3% and 24 month, if you're so inclined, is at 1.6% Nice to see the rates moving up a few clicks.

 

[dadgad]

CapOne is great in terms of ease of use, free transfers, and of course interest rate. However, I stopped using them because they don't allow you to designate beneficiary upon death....and since this account was set up for my 5-month-emergency funds....it was too much cash to have it go through probate because of the lack of BOD. This isn't typical for most folks, but I have arranged all of my net-worth assets in a manner that avoid my son having to deal with probate upon my death. Easier to do/think this way when you're renting.

 

[jonat]

I am getting 1% from CapitalOne on MM, and not a new deposit.

 

[mpeirce]

Just looked in my Capital One 360 accounts:

Savings: 0.75%
Checking: 0.20%

I keep much of my short term cash in the C1 savings account. I have the checking account because it makes it easy to get money out of C1 when needed.

I've had the C1 savings since it was ING direct. It's not the BEST interest rate, but it's almost always one of the best. Much easier than opening/closing account every year or so. Although if it every gets very uncompetitive, I'll move along.

 

[RE2Boys]

I had a Cap One 360 account for about six months to qualify for their sign up bonus about two years ago but closed it as it was a third online saving account for me and wish to simplify rather than multiply how many accounts I have at this stage in life. Currently online with Discover and Synchrony but unless they start raising their rates, will replace Synchrony with Purepoint Financial in next month or so. Currently giving Purepoint a test.

Reason I keep Discover is have a Discover checking account link to the savings so keep minimal in checking and move funds from savings instantaneously as needed.

 

[PERSonalTime]

Is the bonus still available? Checked the website, but didn't see any mention of it.

 

[FiveDriver]

Nice......very easy signup process. I now have my local checking account linked and can transfer additional money beyond the $10K into CapOne. Their CD Rates are inching up faster than other outfits (I'm looking at you Navy Federal Credit Union).

Good Bonus Hunting -- my new hobby in semi-retirement !!