Rate is now up to 5.20% for Capital One Costco MM account as of 1/17/07.

Link

ForSpud said:Perhaps statement reflects fact that yield was raised mid-month.Exactly. Yield was 5.02 for a little more than half of January.

scott1961 said:My yield says, Annual Percentage Yield Earned: 5.13% Am guessing yields are different according to balance?Hmmm, not supposed to be - unless your balance falls below $100. I'd love to check my statement and 'break the tie' - but I live out in the boonies and haven't even received my statement yet.

My statement says APY earned: 5.10%. Because the rate changed part way through the month, some money was on the old rate and some was on the new rate. I didn't make any deposits this month, but I made a withdrawal part way through the month. So, some of the money was on the old rate and less was on the new rate. I think that is why we all have different values on the statements. If the rate had been the same for entire period we all would have the same rate.

In the latest Costco News Mailing there is a link for a $50 Bonus for Executive members.

Link to Offer

* As of 2/15/07, if the daily balance of this money market account was $100 or more, the Annual Percentage Yield (APY) was 5.20%; if not, the APY was 0.00%. Minimum initial deposit amount is $1,000. Terms and conditions of this offer may change at any time. Rates are variable and may change at any time after account opening. This product is offered by Capital One, F.S.B. and Capital One Bank, members FDIC.

† To receive the $50 bonus, which will be credited to your first new Money Market account as interest income 4-6 weeks after funding your account, you must be a Costco Executive Member when you open the account and fund with at least $5,000 within 30 days.

** By clicking this link, you will be redirected to a third-party website and will be subject to the privacy policy of the company hosting that site.

YeOleImposter said:Does Capital One download to Quicken/MMoney?

I would assume so, but I also assumed that GMAC would. They don't and it bugs me to have to input my transactions manually.

Works fine in Money 2006 for me.

Back to the question about APY: I did not change the balance in my CapitalOne Costco account during February. My 2/28 statement shows "annual percentage yield earned 5.18%" -- because of the short month? because they're calculating year to date? Any other logical reason?

Edit: wrong info.

Does anyone know where it says this (below from quick summary) in their disclosure:

Transaction Limits
No more than a maximum of six withdrawls in any calendar month are premitted, and only three of the six withdrawls may be by check, debit card or similar negotiable order. Please note, these restrictions do not apply to withdrawls made at an ATM.


Here is the disclosure link I was looking at:
http://www.capitalone.com/directbanking/offers/costco/disclosures.php?linkid=WWW_Z_Z_Z_COMM_R1_03_T_COMMD

ymarker said:Does anyone know where it says this (below from Quick Summary) in their disclosure:
Transaction Limits
No more than a maximum of six withdrawls in any calendar month are premitted, and only three of the six withdrawls may be by check, debit card or similar negotiable order. Please note, these restrictions do not apply to withdrawls made at an ATM.

Here is the disclosure link I was looking at:
http://www.capitalone.com/directbanking/offers/costco/disclosures.php?linkid=WWW_Z_Z_Z_COMM_R1_03_T_COMMDIt's federal law (Regulation C?)