Home
Savings Rates
CD Rates
Bonds
Mortgage Rates
Home Equity Rates
Auto Loan Rates
Credit Cards
Brokerages

Capital One Direct Offers $50 Money Market and Savings Bonus

Article Submitted by: BankMan
Savings - Checking - CDs


Capital One Direct Banking is offering another $50 bonus to open a savings account or money market account online. To get the bonus you need to open an account and fund it with at least $10,000 by 11/25/2009.

 

Submitted: Oct 8, 2009    Views: 358    Comments: 1    Likes: 1   


Capital One Direct Banking is offering another $50 bonus to open a savings account or money market account online. To get the bonus you need to open an account and fund it with at least $10,000 by 11/25/2009. The offer details are here.

Details of the offer include:

  • Online available to accounts opened online
  • Must have opened account with offer code SAVER50DF and funded it with $10,000 by 11/25/2009
  • This account must remain open 4-8 weeks after 11/25/2009 during which time the bonus will be deposited into your account.

The savings and money market accounts are currently paying 1.60% APY which is currently the 20th amongst the best savings account rates on the BestCashCow rate tables. That's competitive.

Let's do a little math. If you deposit $10,000 and get a $50 bonus, that's a .5% return. Add that to the 1.6% APY and you get an 2.1% APY, which would put it third on the rate table for return. If you deposit more money then that return will go down.

Capital One also has a Costco account. Cosco members can open a savings account that currently yields 1.75% APY instead of 1.6% APY. With that bonus, the Capital One account would have the top 1 year APY for deposits of $10,000.

ACH Transfers Improved

As reported by BankDeals, Capital One Direct has also improved the speed of its incoming ACH transfers. Incoming transfers now post the next day as long as the transfer is made for 7:00 PM. Outgoing transfers though still take 2-4 business days. To me, the outgoing transfer speed is the bigger issue. If I need the cash, I want it quick. I'm less concerned about losing a day or two of  interest on the way in.

Please share any questions or experiences you've had with this account and bonus.


Sponsor Updates and Offers

Sign up for Zions Direct’s free weekly newsletter.

Get market information, CD and Bond auction updates, new-issue alerts and more.

Related Articles:



1

Email this story Email to someone | Print Story Print Content | Add to reading list

Comments Received:

jojibro
(Unregistered)

FYI:
MM int is now 1.21% NOT 1.6%(good only for online savings $10k & above).

Posted: Oct 11, 2009



Add Your Comments:

Your Name:

Spam protection control:


© Copyright 2010 BankMan All rights reserved. BankMan has granted BestCashCow.com, LLC non-exclusive rights to display this work on Bestcashcow.com.

Financial products of all nature bear inherent risks and this website is not a financial advisory service; it is a forum for users to share and to compare notes and observations on financial publications. The website provides, free of charge, the technical and logistical apparatus and the medium for users to share and to publish financial information and to comment on publications. As such, the website's operator can not and does not take responsibility for information, observations or opinions of any sort or nature provided by third parties with whom it is not affiliated who use the website to publish, to comment or as a means of solicitation. Users are specifically warned against following any advice related to specific instruments, including, but not limited to, equity securities, that may be provided by other users directly on this site or on web pages to which other users have provided links on this site. BestCashCow.com can not and does not check or verify the qualifications and credentials of users who publish or comment on this site or on linked pages. Users should seek personalized advice from qualified professionals regarding all personal financial issues and evaluate the risks and applicability to their own circumstances of each financial product discussed regardless of who the publisher is or purports to be. Should you, through your use of this site, identify an individual or organization purporting to offer personalized advice, you bear all responsibility to ensure that the individual or organization has the qualifications that they may represent on the website, and that their advice is appropriate for your circumstances. On certain webpages, BestCashCow.com provides information related to rates on US-based savings accounts, CDs, short-term government bonds, and other US cash equivalent securities, also free of charge to internet users for their independent use. The accuracy of this information is not guaranteed, and the information, like all other information on this website, should not be construed to provide investment advice, nor to endorse a financial product of any sort.

© 2010 BestCashCow.com, LLC. All Rights Reserved. Terms under which this service is provided to you. Privacy Policy.