[mma bank=’Capital One’]
[/mma] Money market accounts provide you with a type of savings account that allows you to earn higher interest on your money than what you would typically earn with a traditional savings account. The [mma bank=’Capital One’] Capital One money market account[/mma] offers a number of benefits including the following:
- No monthly fees
- No minimum balance requirements
- Free ATM card and free checks
- Online transfers
Interest Bonus:
If you maintain an average monthly balance in your money market account of $10,000 or more for 3 months or if you make a purchase with a Capital One credit card each month for 3 months you will receive a bonus of 10% of the interest earned in the previous three months (or quarter).
With the [mma bank=’Capital One’] Capital One money market account[/mma], interest is compounded on a daily basis and credited to your account on a monthly basis. Capital One bank provides you with FDIC security, allowing up to $250,000 per depositor. This makes their money market account a risk-free investment for you.
Unlike other banks you will only need $1 to open up a [mma bank=’Capital One’] Capital One money market account[/mma]. Your account information can be accessed securely online, providing you with the maximum amount of protection possible. How do the Capital One money market rates stack up against others? At the present time they are offering one of the highest rates available. Their money market account is currently offering 1.10% APY.
The Capital One high yield money market account does restrict the number of withdrawals you can make per month. You may have up to 6 online transfer and check withdrawals per month and your ATM withdrawal amount is limited to $500 per day. The flip side is that there are no monthly fees and you are not required to have a minimum balance amount in your money market account in order to earn the current interest rate.
If you have other accounts, you can schedule transfers from these accounts to your [mma bank=’Capital One’] Capital One money market account[/mma], allowing you to earn more money in interest as you increase the balance. In order to set up these transfers you need to create an online account and verify your information, you will then be able to set up the link account feature. Initially you will need to have a trial deposit placed into your account to verify that this is your account. This allows Capital One bank to provide you with the maximum amount of online protection possible. Once the deposits are made and you verify them, your account is set up and you can start managing your money market account online.
[mma bank=’Capital One’] Opening A Capital One Money Market Account[/mma]
You can choose to open a [mma bank=’Capital One’] Capital One money market account[/mma] with an online application or you may choose to open one via telephone at 1-866-871-7932. If you start the online application and you do not have time to complete it you can save it and come back to it at a later date. Once your account is open you then need to make your initial deposit amount. To make the initial deposit you can use any of the following:
- Mail a check
- Wire it from your bank
- Create an online link from your bank to Capital One bank
- Do an internal transfer (only for existing Capital One customers)
Compare the interest rate on the [mma bank=’Capital One’] Capital One money market account[/mma], to other money market rates on RateCatcher.com’s money market chart.
