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Last Updated: April 9, 2008
Capital One may be best known for its “What's in Your Wallet?" credit card commercials featuring marauding Vikings, but this financial company also offers high yields on money market accounts through its Capital One Direct Banking web site.
| | Balance | APY | Interest Rate | $1.00+ | 3.00% | 2.96% |
| www.capitalonedirect.com
(800) 562-1340
>> Reader Reviews |
Minimum Deposit
$1 | Monthly Fee
$0 | Minimum Balance
$1 | Compounding
Daily |
Although rates have slipped below the offerings of other high-yield Internet accounts, Capital One's High Yield Money Market account does offer the convenience of both checks and an ATM card. (If you want to get rewards with your money market account see Capital One's Rewads Money Market account.)
Account opening is conducted online where you will enter your current checking account information. Capital One will make a test transfer into your checking account to validate it. Once validated, your checking account is now linked to the High Yield Money Market account to make easy online transfers between the two accounts.
The High Yield Money Market account features a low minimum opening deposit amount of $1. There are no monthly fees or monthly minimum balance requirements to worry about.
The ATM card that comes with the account allows customers to withdraw up to $500 from an ATM each day. There is no monthly limit on how many times you use the card. Capital One does not charge a fee for ATM usage, but the ATM owner may.
For those who want to earn rewards and interest, Capital One also offers the Rewards Money Market Account.
Online Savings Account
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