Capital One now at 1.85 [Money Market Rate To 1.85% APY]

deskjockey · Post by **deskjockey** » Wed Feb 21, 2018 4:05 pm

[Updated to 1.75%, Jul 10, 2018. --admin LadyGeek]

[Updated to 1.85%, Sep 01, 2018. See: this post --admin LadyGeek]

I was just checking my account and discovered the interest rate has gone up.

slalom · Post by **slalom** » Wed Feb 21, 2018 6:19 pm

I recently moved my emergency fund savings account to one ($30,000).

I'm such a poor boglehead that I had it in the non-money market savings version they offer, getting 0.6% or something, and never really checked up on it.

Of course, the exact same account in the early 2000s was an ING savings account getting 5%.

nisiprius · Post by **nisiprius** » Wed Feb 21, 2018 7:06 pm

slalom wrote: ↑Wed Feb 21, 2018 6:19 pm I recently moved my emergency fund savings account to one ($30,000).

I'm such a poor boglehead that I had it in the non-money market savings version they offer, getting 0.6% or something, and never really checked up on it.

If you'd really checked up on it you might have noticed that the (regular) savings accounts are now paying 1.00% or something.

whodidntante · Post by **whodidntante** » Wed Feb 21, 2018 7:14 pm

My Redneck Bank account pays 1.75% on my $10 in cash, plus my debit card has a horse on it.

Kenkat · Post by **Kenkat** » Wed Feb 21, 2018 7:18 pm

Vanguard Prime Money Market is at 1.49% for comparison.

livesoft · Post by **livesoft** » Wed Feb 21, 2018 7:22 pm

Some T-bills maturing in April 2018 are paying 1.50 to 1.55%. And no state income taxes, too.

slalom · Post by **slalom** » Thu Feb 22, 2018 5:53 am

nisiprius wrote: ↑Wed Feb 21, 2018 7:06 pm
slalom wrote: ↑Wed Feb 21, 2018 6:19 pm I recently moved my emergency fund savings account to one ($30,000).

I'm such a poor boglehead that I had it in the non-money market savings version they offer, getting 0.6% or something, and never really checked up on it.
If you'd really checked up on it you might have noticed that the (regular) savings accounts are now paying 1.00% or something.

That change happened right after I made the money market account. They raised the regular rate by 0.3% or something,

sunny_socal · Post by **sunny_socal** » Thu Feb 22, 2018 9:46 am

Alliant CU savings account is 1.44% and they raise it frequently. (I also have the 1.5% Cap One MM) Seems like rates are rising everywhere.

Will add Redneck bank at some point

Engineer250 · Post by **Engineer250** » Thu Feb 22, 2018 11:57 am

deskjockey wrote: ↑Wed Feb 21, 2018 4:05 pm I was just checking my account and discovered the interest rate has gone up.

Yay. Kept waiting for this as other rates were going up. Thanks for posting or I’d have probably missed it for a while.

Toons · Post by **Toons** » Thu Feb 22, 2018 12:25 pm

Having been a Cap360 useer for a number of years now,,,ING direct before now,
It appears they are becoming more competitive with their rates..

csm · Post by **csm** » Thu Feb 22, 2018 5:11 pm

I had just opened a Capital One 360 MMA a week ago based on an offer for a $200 bonus with a $10,000 deposit. Nice to get 1.5% since I moved the cash from my Ally online savings that is earning 1.45%.

sfchris · Post by **sfchris** » Thu Feb 22, 2018 5:13 pm

UFB direct is 1.6%.

An excellent site for tracking bank account and CD rates:

https://www.depositaccounts.com/savings/

BlackcatCA · Post by **BlackcatCA** » Thu Feb 22, 2018 9:09 pm

Is the $200 bonus still effect? I read conflicting info from different websites. Do you need a code? Thanks

csm · Post by **csm** » Thu Feb 22, 2018 9:57 pm

BlackcatCA wrote: ↑Thu Feb 22, 2018 9:09 pm Is the $200 bonus still effect? I read conflicting info from different websites. Do you need a code? Thanks

The offer I received was good until February 16th - I think the code was GAIN200 but not totally sure. I received it in the postal mail as well as email. I already had a Capital One 360 checking account (on which I received a $300 bonus) so this was a $200 bonus to open an MMA account and deposit $10K.

BlackcatCA · Post by **BlackcatCA** » Thu Feb 22, 2018 10:51 pm

I have not received any mail offer. Can I still use the code?

I read in doctorofcredit.com that this offer expired Feb 16, as you have noted. However, another website (bankdealguy.com), says it is good until 3/30/18. Which is correct? Both provide links to CapitalOne but they lead to different sites.

ragabnh · Post by **ragabnh** » Fri Feb 23, 2018 12:50 am

Synchrony Bank High yield Saving Account is at 1.55%

JoMoney · Post by **JoMoney** » Thu Apr 19, 2018 4:08 pm

Looks like we're up to 1.6% now with a 360MM
https://www.capitalone.com/bank/savings ... t-account/

anonsdca · Post by **anonsdca** » Thu Apr 19, 2018 4:27 pm

JoMoney wrote: ↑Thu Apr 19, 2018 4:08 pm Looks like we're up to 1.6% now with a 360MM
https://www.capitalone.com/bank/savings ... t-account/

Jo, I just looked at my account and its still 1.5%. It used to be that CapOne posted the rate change like transaction so it was easy to see. Not so anymore. Now you have to go into your account, then view the "details". When I did that, still 1.5%.

I did view your link tho, and I see where that says 1.6%.

Hopefully it will hit the actual accounts soon.

JoMoney · Post by **JoMoney** » Thu Apr 19, 2018 4:32 pm

anonsdca wrote: ↑Thu Apr 19, 2018 4:27 pm...
Hopefully it will hit the actual accounts soon.

I hope so too... and I'm guessing it will. They were still promoting it as 1.5% yesterday when I checked (I've been keeping an eye on it since my Vanguard settlement fund was inching above 1.5%

VinhoVerde · Post by **VinhoVerde** » Thu Apr 19, 2018 5:31 pm

This very day I opened up a Capital One 360 Money Market account at the 1.75% interest rate. I moved a substantial portion from my Premier High Yield account which pays only 1.55%.
I think I know what's going on here. A couple of months ago I called about the interest rate on my High Yield Capital One account. Note the lack of the word "Premier"'I had read on this forum that it was paying 1.55%, but couldn't verify this by looking at my online statement. No they said. You have a High Yield account not a Premier High Yield account. I suggested they raise my rate from 1.05% or I'd leave.They did immediately. I hold my emergency fund there to cover one year of expenses so it is not insubstantial.
Just guessing here, but I bet somewhere in the details of this new higher interest Money Market account is language that differentiates it from the MM account you hold.
VinhoVerde

nolesrule · Post by **nolesrule** » Thu Apr 19, 2018 6:25 pm

anonsdca wrote: ↑Thu Apr 19, 2018 4:27 pm
JoMoney wrote: ↑Thu Apr 19, 2018 4:08 pm Looks like we're up to 1.6% now with a 360MM
https://www.capitalone.com/bank/savings ... t-account/
Jo, I just looked at my account and its still 1.5%. It used to be that CapOne posted the rate change like transaction so it was easy to see. Not so anymore. Now you have to go into your account, then view the "details". When I did that, still 1.5%.

I did view your link tho, and I see where that says 1.6%.

Hopefully it will hit the actual accounts soon.

If the change was made today, then it may not show in the account until tomorrow.

JoMoney · Post by **JoMoney** » Thu Apr 19, 2018 6:35 pm

nolesrule wrote: ↑Thu Apr 19, 2018 6:25 pm
anonsdca wrote: ↑Thu Apr 19, 2018 4:27 pm
JoMoney wrote: ↑Thu Apr 19, 2018 4:08 pm Looks like we're up to 1.6% now with a 360MM
https://www.capitalone.com/bank/savings ... t-account/
Jo, I just looked at my account and its still 1.5%. It used to be that CapOne posted the rate change like transaction so it was easy to see. Not so anymore. Now you have to go into your account, then view the "details". When I did that, still 1.5%.

I did view your link tho, and I see where that says 1.6%.

Hopefully it will hit the actual accounts soon.
If the change was made today, then it may not show in the account until tomorrow.

Yes, if you login to the account and select 'View Details' the info box for the APY says it's updated nightly, clicking further on the "View Current Terms & Conditions" it states "If your daily balance is $10,000.00 or more, you'll earn 1.5884% interest on your entire account balance, with an annual percentage yield of 1.60%."

naha66 · Post by **naha66** » Fri Apr 27, 2018 8:58 am

Got the email today

SDLinguist · Post by **SDLinguist** » Fri Apr 27, 2018 9:12 am

Sounds good to me!

The interest rate increases mean I was already payed half of what I was payed all of last year in interest on basically the same balance

ReformedSpender · Post by **ReformedSpender** » Fri Apr 27, 2018 9:23 am

Was effective last week fyi

https://www.depositaccounts.com/banks/c ... 60/offers/

jacoavlu · Post by **jacoavlu** » Fri Apr 27, 2018 9:58 am

If you don't touch these savings much and can sacrifice a little simplicity and ultra-short liquidity, depending on your state tax rate, the tax equivalent yield on 3 month T bills is around 2% now. Purepoint savings is 1.75%

FootballFan5548 · Post by **FootballFan5548** » Fri Apr 27, 2018 10:17 am

Two years ago today I closed on a "jumbo" 30 year fixed mortgage at 3.25%. We still have some ways to go, but it's nice that my mortgage payment account (cap one MM) is now receiving roughly half the interest that I'm paying out. Every little bit helps.

Mudpuppy · Post by **Mudpuppy** » Fri Apr 27, 2018 10:35 am

jacoavlu wrote: ↑Fri Apr 27, 2018 9:58 am If you don't touch these savings much and can sacrifice a little simplicity and ultra-short liquidity, depending on your state tax rate, the tax equivalent yield on 3 month T bills is around 2% now. Purepoint savings is 1.75%

The whole point of having something like the Capital One 360 account is to have simplicity and short-term liquidity from a major bank though. If someone wanted T-bills, they'd go for T-bills. And if someone wanted to chase the best rates, there's plenty of rewards checking accounts with 2% or higher rates or account opening bonuses that could be chased.

A high-yield savings account from a major bank like Capital One is a set-and-forget sort of place to park one's emergency fund or short-term savings while still getting a reasonably competitive interest rate (not the best, but definitely not the worst).

eye.surgeon · Post by **eye.surgeon** » Fri Apr 27, 2018 11:21 am

I just moved all parked cash from Cap One to Vanguards California tax exempt muni money market fund, SEC is current 1.47% . money market funds are finally returning some interest.

iamlucky13 · Post by **iamlucky13** » Fri Apr 27, 2018 2:48 pm

Mudpuppy wrote: ↑Fri Apr 27, 2018 10:35 am
jacoavlu wrote: ↑Fri Apr 27, 2018 9:58 am If you don't touch these savings much and can sacrifice a little simplicity and ultra-short liquidity, depending on your state tax rate, the tax equivalent yield on 3 month T bills is around 2% now. Purepoint savings is 1.75%
The whole point of having something like the Capital One 360 account is to have simplicity and short-term liquidity from a major bank though. If someone wanted T-bills, they'd go for T-bills. And if someone wanted to chase the best rates, there's plenty of rewards checking accounts with 2% or higher rates or account opening bonuses that could be chased.

A high-yield savings account from a major bank like Capital One is a set-and-forget sort of place to park one's emergency fund or short-term savings while still getting a reasonably competitive interest rate (not the best, but definitely not the worst).

It's actually a useful reminder for somebody like me, who's never really given much thought into laddering part of my emergency fund into treasury bills for better yield. Last time I bothered to check, even as low as CapitalOne's rate was at the time, it was still higher than even the 12 month treasuries, and that was as far as I considered it.

However, I also have to consider CD's and I-Bonds as alternatives. CapitalOne's 12 month CD is currently 2.1%. For quite a while, it also was lower than their money-market rate.

Post by **LadyGeek** » Sun Apr 29, 2018 9:09 am

I merged naha66's thread into here and retitled the thread for the latest rate. The combined thread is in the Personal Finance (Not Investing) forum (bank account).

MnD · Post by **MnD** » Sun Apr 29, 2018 9:59 am

eye.surgeon wrote: ↑Fri Apr 27, 2018 11:21 am I just moved all parked cash from Cap One to Vanguards California tax exempt muni money market fund, SEC is current 1.47% . money market funds are finally returning some interest.

Same but to Schwab Muni Money Market 1.43% in brokerage linked to Schwab checking.
Stand alone high yield savings account elsewhere closed last week.
Brick and mortar checking and savings now on life support to cover a few auto-pays and will be closed next month when those are switched.
Here's to financial simplification!

Leif · Post by **Leif** » Mon May 07, 2018 7:21 pm

I saw an ad for 1.6% with a bonus of $500 with the deposit of $100,000 and maintained for 3 months. That is 2.1% interest and bonus if held for a year. If held for 3 months that would be $400+$500 = $900 or a rate of 3.6% per year not compounded. If my math is correct.

https://www.capitalone.com/moneytalks/

WanderingDoc · Post by **WanderingDoc** » Mon May 07, 2018 10:56 pm

The returns on these accounts are taxed, is that correct? So a 1.6% APY would be a 1.2% post tax yield, or so.

Leif wrote: ↑Mon May 07, 2018 7:21 pm I saw an ad for 1.6% with a bonus of $500 with the deposit of $100,000 and maintained for 3 months. That is 2.1% interest and bonus if held for a year. If held for 3 months that would be $400+$500 = $900 or a rate of 3.6% per year not compounded. If my math is correct.

https://www.capitalone.com/moneytalks/

JoMoney · Post by **JoMoney** » Mon May 07, 2018 11:22 pm

WanderingDoc wrote: ↑Mon May 07, 2018 10:56 pm The returns on these accounts are taxed, is that correct? So a 1.6% APY would be a 1.2% post tax yield, or so.

Yes, interest is taxable, but what that means for you and your tax bracket is an individual situation.
Theoretically, an individual could be paying 0% in taxes on $38k of qualified dividends/capital gains, and 0% on $12,000 of interest (after standard deduction).

Leif · Post by **Leif** » Tue May 08, 2018 10:39 am

WanderingDoc wrote: ↑Mon May 07, 2018 10:56 pm The returns on these accounts are taxed, is that correct? So a 1.6% APY would be a 1.2% post tax yield, or so.

Yes, depending on your bracket. But if you are willing to move around your money to pick up some extra coin then don't forget the bonus of up to $500.

WanderingDoc · Post by **WanderingDoc** » Tue May 08, 2018 10:56 am

Leif wrote: ↑Tue May 08, 2018 10:39 am
WanderingDoc wrote: ↑Mon May 07, 2018 10:56 pm The returns on these accounts are taxed, is that correct? So a 1.6% APY would be a 1.2% post tax yield, or so.
Yes, depending on your bracket. But if you are willing to move around your money to pick up some extra coin then don't forget the bonus of up to $500.

If I keep money in that acct for say 3 months, then withdraw and close the account, do you know if this affects your credit scores at all?

peterinjapan · Post by **peterinjapan** » Tue May 08, 2018 12:31 pm

I just opened a 2.00% account at Banco Popular https://www.populardirect.com/. They seemed to imply that the rate was "tied to market conditions" and could fall any time, but that it wasn't an introductory rate or anything. It was better than the 1.39% that their normal accounts were paying. If they play any games, I'll ditch them for something else.

Leif · Post by **Leif** » Tue May 08, 2018 4:54 pm

WanderingDoc wrote: ↑Tue May 08, 2018 10:56 am If I keep money in that acct for say 3 months, then withdraw and close the account, do you know if this affects your credit scores at all?

I cannot say for sure, but I don't think so. I recall it was discussed at one point. No late pay or reduced credit line is involved. Some may just think it is not worth their time. I'm in that camp.

bethanybeachreader · Post by **bethanybeachreader** » Sat May 19, 2018 9:53 am

My only comment with cap one money market is that it takes a while for the transfer to occur. It seems like it’s 3 or 4 days after the money is withdrawn from my bank before it’s actually transferred to the money market account.

JoMoney · Post by **JoMoney** » Sat May 19, 2018 10:54 am

bethanybeachreader wrote: ↑Sat May 19, 2018 9:53 am My only comment with cap one money market is that it takes a while for the transfer to occur. It seems like it’s 3 or 4 days after the money is withdrawn from my bank before it’s actually transferred to the money market account.

If you bank with Capital One using a 360 checking account, you can transfer between it and the money market instantly (even on weekends).

ReformedSpender · Post by **ReformedSpender** » Tue Jun 26, 2018 12:40 pm

Ally bank now at 1.65%, several others at 1.75%+ all FDIC insured. Time to up the ante Capital one

JoMoney · Post by **JoMoney** » Tue Jun 26, 2018 1:24 pm

ReformedSpender wrote: ↑Tue Jun 26, 2018 12:40 pm Ally bank now at 1.65%, several others at 1.75%+ all FDIC insured. Time to up the ante Capital one

I was thinking the same thing... It's behind my Vanguard Federal Money Market settlement fund, I don't even have to open a new account anywhere to get a higher rate.

ReformedSpender · Post by **ReformedSpender** » Fri Jul 06, 2018 12:19 pm

Really starting to slack here!

Northpointe - 2.05%
Sallie Mae - 1.90%
Goldman Sachs - 1.80%
Ally Bank - 1.75%
Barclays - 1.75%
Capital One - 1.60%

Just to name a few

tenkuky · Post by **tenkuky** » Fri Jul 06, 2018 12:35 pm

ReformedSpender wrote: ↑Fri Jul 06, 2018 12:19 pm Really starting to slack here!

Northpointe - 2.05%
Sallie Mae - 1.90%
Goldman Sachs - 1.80%
Ally Bank - 1.75%
Barclays - 1.75%
Capital One - 1.60%

Just to name a few

While Northpointe seems to be the winner, I was concerned reading reviews at depositaccounts blog.
Main issue around lack of ACH transfer between banks. Anyone had experience with them and is it worth the added 0.3%?
Currently with Ally and no concerns but rate chasing is not unreasonable

c.Alvin · Post by **c.Alvin** » Fri Jul 06, 2018 1:08 pm

As long as the institution is FDIC insured, the biggest risk is they fail and your investment is returned early.

Bhairston2018 · Post by **Bhairston2018** » Fri Jul 06, 2018 4:16 pm

Switched from Cap One bc they don’t offer a beneficiary option. Should note that Vanguard Prime Money Market is yielding 2.04% as of close today. Not FDIC insured thought if that’s really important.

A Note from the prospectus “Vanguard Prime Money Market Fund seeks to provide current income and preserve shareholders’ principal investment by maintaining a share price of $1. As such it is considered one of the most conservative investment options offered by Vanguard.”

JoMoney · Post by **JoMoney** » Fri Jul 06, 2018 4:43 pm

I'm hoping they'll adjust up soon. They've been pretty good about it (but typically trailing a bit slower). I prefer to keep cash in the bank, but it's not that big of a hassle to move back to my Vanguard settlement account (currently yielding >1.8% )

geospatial · Post by **geospatial** » Fri Jul 06, 2018 7:41 pm

Had an old Orange ING account that got bought out/converted to Capital One 360 that was relatively good to me for a number of years. But recently emptied it out and shut it down. They're just not competitive anymore and all my other accounts are, plus those other accounts don't require the 10K minimum that CapOne360 does for their so-called "best" rate. If more people were willing to move their cash to the better rates, I think it'd be a reinforcing cycle that yielded even better rates from more competitors.

Engineer250 · Post by **Engineer250** » Fri Jul 06, 2018 9:01 pm

JoMoney wrote: ↑Tue Jun 26, 2018 1:24 pm
ReformedSpender wrote: ↑Tue Jun 26, 2018 12:40 pm Ally bank now at 1.65%, several others at 1.75%+ all FDIC insured. Time to up the ante Capital one

I was thinking the same thing... It's behind my Vanguard Federal Money Market settlement fund, I don't even have to open a new account anywhere to get a higher rate.

I just left CapOne360 for a VG brokerage for this reason. My EF is 50% in tax free muni and the other 50% just sitting in the settlement fund. Plus I think (maybe) VMFXX might be not state taxable for me so that is an advantage.

The only disadvantage is how easy it will be for me to rob my meagre EF to fund our Roths.