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Capital on 360 money market chequebook8/26/2023 I just signed up for a new Capital One savings account recently to get the bonus I wasn't a pre-existing savings account customer.ĭid you get notification from Barclays about rate changes? I have savings accounts with them and didn't get any (to my knowledge, but I may have missed something). Those were paid for by existing customers' slippery sliding savings rates over time. No bonuses for existing customers either obviously. As an existing customer you literally have to go in and sign up for a new "Performance Savings" account and transfer your funds or you won't be getting the 1.3%. Legacy CapOne savings accounts are at (or maybe below) 0.5% right now as they've been dropping it over time. If you have older savings accounts with them make sure you go look at them. Rates are going down pretty much everywhere right now.īe careful though. But I think their decreases/increases in rates are consistent with other banks. It seems they're not as transparent as other banks with notifications about rate decreases. As another user mentioned, there are threads about Cap. I have savings accounts at Capital One and Barclays. They’ve been pulling some shady stuff lately, like dropping the rate on the money market and opening the “performance savings” account. I’ve been with them for a long, long time. Right, it’s about the lack of notification, which they used to provide. This won't hold me back from the SCORE500 promo though. The three banks I mentioned are all proactive about communicating rate changes. What bothers me about Capital One is the fact that they don't let customers know about the decline in yields. Could lock in yield in a no penalty CD and at least know your rate won't decline but those are hovering around 1.30% now too. They are all subject to change and we are (have been) in a decreasing rate environment. I'm not defending Capital One (as I don't yet have an account with them, although I will probably jump on the SCORE500 Promo before it expires), but I'm not sure you are going to do a lot better for an online savings account. Barclay's (another bank I have accounts with) was at 1.65% at end of Feb and are at 1.15% now. Marcus was 1.70% at the end of Feb and is at 1.30% now. For example, Ally was 1.60% at the end of Feb and now they are at 1.25%. This issue (falling rates) is no different than for Ally or Marcus. I guess I’ll be looking around for something better. I just opened this stupid “performance saving” account in March, the rate was 1.7%, and it went to 1.5% not long after. Wow, I had no idea Cap1 had lowered the rate AGAIN. And I don't understand how paying half price for Peet's Coffee is better than getting it for free from the Keurig in my small-town bank. I want to wipe that smug smile off the guy's face. I've wanted to talk to humans about three or four times in a decade or so and I've always been able to get through with no problems. (It has to be a smartphone now, and I am dragging my feet on putting "real money" apps on my smartphone.) The worst thing they've ever done to me was discontinuing the ability to do image deposits from a desktop computer. Their behavior is consistent with legitimately wanting to have long-term customers. In my experience they haven't done short-term "teasers," and haven't done anything to get me seriously ticked off at them. Their interest rates have started to come down in the last few months and I expect that to continue. I won't swear that they have the very absolute best rates of anyone on the Internet. I've had an account at Capital One starting back when they were ING Direct.
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