Capital One 360 Money Market Account

[Tim_S]

I just received an email invitation from Capital One to open a 360 Money Market account and get a $500 bonus for an initial $50,000 deposit while earning 1.85% APY. I looked to see what I was earning at Chase and realized it was only 0.07% APY so I transferred $50k to Cap One. Anyone have any experience with Cap One 360 Money Market Accounts? Internet banking is foreign to me.

[Anonymous]

It's a one time bonus so you're lucky to get the $500/$50k deal, I only got the $200/$15k deal last year. Internet banking is really no different once you get used to it, I only show up at my TD branch to deposit business checks and or money order/cash. Don't expect to use the MMA as your main bank as it has a limitation of 6 withdrawals a month and only allow you to add up to 3 external accounts. I closed mine few months after receiving the bonus, no early termination fee, because I have other accounts that pays more than 1.85%.

[jacetx]

I use CO360 MMA as my savings accounts and love it so far. Opened when the bonus was $200 last year. As it was mentioned, there are other financial institutions that pay higher than 1.85%; however, I prefer to keep it there for instant transfers to my CO360 Checking.