Capital One Bank $50 InterestPlus Online Savings Promotion

Capital One is offering a $50 bonus when you open an InterestPlus Online Savings account using the promotion code BANK223DF with at least $10,000 by January 15th, 2012. Capital One’s online savings bank offers competitive rates compared to other online savings accounts, gives you a 10% quarterly bonus on your interest, and has no fees.

Here is some of the legalese:

You will receive a $50 bonus if you open a Capital One Bank InterestPlus Online Savings (IPOS) account online only, enter the offer code at the time of account opening, and have $10,000 or more on deposit on 1/15/2012. This account must be your first account with Capital One Bank. The deposit will be deposited into your account 4-8 weeks after 1/15/2012 and the account must be open at the time the bonus is credited. The bonus will be reflected on your monthly statement and will be included in your year-to-date interest and year end tax reporting. This offer cannot be combined with any other offers.

I opened one of these accounts under a similar Costco/Capital One promotion last year and have been happy with it. If you are a Costco member, especially an Executive member, then the Costco promotion is better. With an Executive membership you get $60 in bonus money ($20 for Gold and Business) plus a higher interest rate (0.91% vs 0.80% as of today). Finally, the minimum you need to deposit to get the rate and bonus is $5,000, not $10,000.


Capital One Buys ING Direct

The news broke yesterday that Capital One would be the happy recipient of the keys to a brand new ING Direct. Everyone knew that ING Direct was up for sale, the ING Groep was required to sell it, but no one was sure who would be the happy new owner. The acquisition puts Capital One in the lead as the largest online bank, mostly because ING Direct was absolutely enormous. The final price? Around $9 billion, in a mix of $6.2 billion cash and $2.8 billion stock.

We speculated as to what would happen when someone purchased ING Direct, though we were using Ally Bank as the acquirer (those were the rumors at the time). Since it was a friendly acquisition, rather than an FDIC chaperoned affair, mostly nothing would happen.

I’m eager to see what happens because I have an online account with both banks.


5 Lesser Known Perks of Costco Membership

Costco SignEveryone knows about the cheap Costco gas and the wonderful Costco return policy (though on electronics it has certainly lost some of its teeth), but there are a lot of lesser known perks that members should try to take advantage of. Here are just five of them.

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