High Yield MMA from Capital One Direct Banking

Edit Post Wednesday, October 24, 2007

[This post is written and copyrighted by FIRE Finance (http://firefinance.blogspot.com).]

Capital One Direct Banking (CODB) is offering 4.50 4.40 4.30 4.00 3.50 3.25 3.10 3.00% APY* for their product Capital One High Yield Money Market. CODB claims that their rate has been in the top 10 more often than any other bank since 1997.

Dealights
  • Sign Up Link: Deal & Details
  • No fees, No minimum balance
  • Easily transfer money to and from your existing accounts*. That means there’s no need to switch banks.
  • The same conveniences you get with a checking account - FREE checks and ATM cards*
  • Unlimited ATM withdrawals
  • Unlimited deposits
  • Please note that federal regulations limit this account to six withdrawals per calendar month, three of which may be by check.
  • Deposits at Capital One are insured by the FDIC up to $100,000 per depositor
We are looking forward towards your opinion or experience with this product from Capital One Direct Banking.

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2 comments



bdkvxd said...
I have just opened a CODB High Yield Money Market Acct on 10/25/2007. Signing up was very easy online, im just waiting for my "trial deposits" to go through to confirm a link with my other checking account. On the main online banking page, it displays a rate of 4.64.

Thanks for the find! I wonder if the WT account has fees or a account cancellation fee? I would love to open one there for 5.06 WOO HOOO
FIRE Finance said...
@bdkvxd
Thanks for your excellent feedback.

We did search for account cancellation fees but could not find any on WT's website. But to be on the safe side its best to call their customer service and find out.

Here we quote their a/c closure policy:
15. Closing Your Account and Terminating Use of Our Services - You may close your account at any time, for any reason. We may also close your account and/or terminate your right to use our Online Banking or Touch-Tone Banking services at any time, for any reason and without advance notice to you, and we may deliver the account balance by mail to any of you.

"If your account is not funded with 90 days after you open the account, if your balance falls to zero for a period of 90 days at any time, or if your account is overdrawn for a period of 25 days or more, your account may be closed."
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