If you’re interested in opening a Money Market account, be sure to consider opening a Capital One 360 Money Market Account!
If you’re not sure what a Money Market account is, it’s quite simple. A money market account is an interest-bearing account that typically pays a higher interest rate than a savings account, and which provides the account holder with limited check-writing ability. These accounts are best used for making large and infrequent expenses such as emergency funds, tuition, budgeting for quarterly tax payment and more.
It’s good to always have a rainy day market money account.
Sign up for an account using our referral link to earn yourself a bonus of up to $100! This increases as you increase your initial deposit into your new account.
- Earn $25 up to $100 bonus
- No fees
- FDIC-insured for up to $250,000
- Deposit check from mobile phone
- Bonus will automatically be deposited into your account upon your account opening
- Have access to over 38,000 free All points ATMs, mobile app for your on the go deposits, computer access for free P2P payments, and bill pay
- Learn more: Click here to learn more about the features of Capital One 360 Money Market Referral Account!
Here’s a small compiled list of pros that is worth considering:
- High Interest Rate
- Account holders that can break the account minimum of $10,000 to earn the highest rate will benefit the most from this account
- Mobile App Available
- Another added benefit worth noting is that your account is manageable from a mobile app. This can make your online banking experience even easier.
- No Monthly Maintenance Fee
- Just like it says above, there’s no monthly fee.
- No Minimum Opening Deposit
- If you can’t quite reach the $10,000 mark to reach the highest APY rate, there’s no need to fear. No minimum is required for your to start earning interest.
- No ATM Fees
- Since it’s primarily an online bank, ATM may be frequently used. Thankfully, no fee is given to those who use a Capital One branded ATM.
No bank can be perfect. However some are better than others. Here’s the small list of cons worth considering.
- Few Physical Branches.
- As expected from a bank primarily focused on online banking, they offer very few branch locations. If you prefer managing your bank in person, you should reconsider choosing Capital One.
- Minimum Balance Required to Earn APY
- Despite not technically having a minimum balance required, in order to earn the advertised APY a balance of $10,000 must be reached. Until then you’ll be earning a lower rate. However it’s worth noting that a good amount of other banks also have this feature and the rate given before reaching the minimum is the same as other online banks.
- No Personal Checks
- If you frequently use and find personal checks important, we have bad news for you. Capital One 360 does not offer them with Money Market accounts.
Why You Should Open An Account
Opening a Money Market account if a smart move for future emergencies/accidents.
But why should you choose Capital One 360?
The compiled list of pros listed above are definitely attractive features that are reasons why Capital One is a leader in online banking. Online banking is becoming increasingly popular as it’s becoming more secure and easier to do. The rates offered by a Money Market account with Capital One 360 may be beat by some savings accounts, but have features that those savings account don’t have.
Enjoy the rates of a savings account and the utility of a checking account all in one. Capital One 360 Money Market accounts offer great rates and the ability to make transaction with the account just like any other checking account. Having no monthly fees and no minimum deposit is a leading factor in why customers choose Capital One 360.
If you plan on opening an account, be sure to do it through our referral link! This link will make you eligible for a bonus of up to $100!
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