Original Post
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Edited November 4, 2023
at 08:09 PM
by
First post so please feel free to modify
DEPOSIT BONUS
$20,000 +$300
$50,000 +$750
$100,000 +$1,500
https://www.capitalone.com/bank/f...4fy23_1025
If you have or had an open
360 Performance Savings,
360 Savings,
360 Money Market,
Savings Now
or Confidence Savings account
as a primary or secondary account holder with Capital One on or after January 1, 2021, you will be ineligible for the bonus. If your account is in default, closed or suspended, or otherwise not in good standing, you will not receive the bonus.
Certain deposit transactions initiated through the Capital One website to retrieve funds from your external account are subject to limits. If you are subject to these limits, in order to meet the offer requirements, you would need to initiate the deposit by another external method, such as mobile deposit or setting the initial deposit to send (rather than be retrieved from) from your external financial institution.
Here's the full scoop on how to earn your bonus:
STEP 1—Open a 360 Performance Savings account between 12:00 a.m. ET on November 1, 2023, and 11:59 p.m. ET on December 6, 2023. When you open your account, ensure the promo code FALL23 is entered in the Promo Code box.
STEP 2—Initial Funding Period. Deposit a total of $20,000 or more (Deposit Amount) of new money from externally sourced funds (transfers between Capital One accounts will not qualify) within the first 15 days of account opening (Initial Funding Period).
STEP 3—Hold Period. You will earn a bonus once you've maintained the Deposit Amount of $20,000 or more for 90 days following the Initial Funding Period. The Initial Funding Period is defined as the first 15 days from account opening, and the 90-day Hold Period does not begin until after the full 15-day Initial Funding Period.
The amount of your bonus will be determined as follows:
$300 bonus—The new money deposited from an external bank during the Initial Funding Period was between $20,000-$49,999.99, and you maintained that Deposit Amount for 90 days following the Initial Funding Period.
$750 bonus—The new money deposited from an external bank during the Initial Funding Period was between $50,000-$99,999.99, and you maintained that Deposit Amount for 90 days following the Initial Funding Period.
$1,500 bonus—The new money deposited from an external bank during the Initial Funding Period was $100,000 or more, and you maintained that Deposit Amount for 90 days following the Initial Funding Period.
Capital One will deposit the bonus into your account within 60 days after you have completed all the requirements above, including fulfilling the 90-day holding period. If your account is in default, closed or suspended, or otherwise not in good standing, you will not receive the bonus. If at any time during the 90 days following the Initial Funding Period your Deposit Amount drops into a lower tier, you will be rewarded that tier's cash bonus. If your Deposit Amount decreases to an amount less than $20,000, you will not qualify for a cash bonus. This offer cannot be combined with any other 360 Performance Savings account opening offers. Only one promotional code is accepted per account. Bonus is only valid for one new 360 Performance Savings account. Bonuses are considered interest and will be reported on IRS form 1099-INT.
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Pretty good deal for someone who doesn't already have a Cap360 account (since existing or recent savings account holders don't seem to be eligible).
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My capital one venture card that i had for 7 yrs was closed by Capital One a few months ago because i didn't use it anymore(inactive) for like the last 2yrs. Will i be eligible for this new promotion?
And you have two different options: A push transfer where you push the money from your bank to capital one or a pull transfer where you pull money from your bank from capital one. You just need the routing number and acct number.
My capital one venture card that i had for 7 yrs was closed a few months ago because i didn't use it anymore for like the last 2yrs. Will i be eligible for this new promotion?
How do I verify that it really got applied?
But you don't have to deal with any of that if you just do it electronically. Once you sign up for Capital One 360 you can add the account number and routing number of your other bank and transfer that way.
If for some reason you can't or don't want to do that, and assuming your existing savings account doesn't come with cheques, you could also get your money out as a cashier's check from the other bank and then do a check deposit using the Capitol One app or a Capital One Cafe if you have one nearby. But that will take longer than doing it electronically.
How do I verify that it really got applied?
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My capital one venture card that i had for 7 yrs was closed by Capital One a few months ago because i didn't use it anymore(inactive) for like the last 2yrs. Will i be eligible for this new promotion?
What that's saying is, assuming you are successful in opening this new savings account with the promo applied, then when it comes time for Capital One to issue the bonus the account itself cannot be closed or have any other issues. They won't issue a bonus to a closed account. Once you get the bonus you normally have to keep the account open for like 6 months to be safe from them clawing back the bonus. You can withdraw your funds after you get the bonus, but just hold off on closing the account for a few months.
That comes to less than 6% APR, and is taxed as ordinary income at the federal ADN state level.
Plenty of other options out there in the 5%+ APR range, like T-Bills that ARENT taxed at the state level.
Not a deal. More a reflection of the federal interest rate hikes on everything.
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