Offer at a glance
- Maximum bonus amount: $250
- Availability: Nationwide
- Direct deposit required: Yes, two direct deposits of $500+
- Additional requirements: Use promo code
- Hard/soft pull: Soft (overdraft protection no longer being offered)
- ChexSystems: Mixed. EWS sensitive according to the comments
- Credit card funding: None
- Monthly fees: None
- Early account termination fee: None
- Household limit: None listed
- Expiration date: None listed
Contents
The Offer
- Capital One is offering a $250 bonus when you open a new checking account and complete the following requirements:
- Use promo code REWARD250
- Set up and receive at least 2 direct deposits, each of $500 or more, within 75 days of account opening
The Fine Print
- If you have or had an open 360 Checking, Simply Checking, or Total Control Checking account as a primary or secondary account holder with Capital One on or after January 1, 2022, you will be ineligible for the bonus. If your account is in default, closed or suspended, or otherwise not in good standing before you receive the bonus, you will not receive the bonus. No minimum balance is required to be maintained in order to receive this bonus.
- Here’s the full scoop on how to earn your $250 bonus:
- Open a 360 Checking account on or after February 21, 2024, using promotional code REWARD250.
- Set up and receive at least 2 Qualifying Direct Deposits each of $500 or more to your 360 Checking account within 75 days of account opening.
- Capital One will deposit the bonus into your account after the first two requirements listed above are completed. See below for when the bonus will be posted.
- What is a Qualifying Direct Deposit?A Qualifying Direct Deposit is a regular periodic payment, such as salary, pension, government payments (for example, Social Security), or other monthly income that occurs as an Automated Clearing House (ACH) or Real-Time Payment network credit from your employer or an outside entity.Wire transfers, ACH credits, and funds transfers initiated using Capital One’s website or mobile app are not considered a Qualifying Direct Deposit.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
This account has no monthly fees to worry about.
Early Account Termination Fee
There is no early account termination fee
Our Verdict
I’d probably recommend waiting for a bigger offer to return, we saw $350 last year for example. Because of that I won’t add it to the best bank account bonus page.
Hat tip to Dougiechurns
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
Has anyone tried Wealthfront push and it worked for you?
4 days after the 75-day period and still no bonus posted, I guess Chase push doesn’t work anymore.
8/31/2024 – Account Opened
9/5/2024 – $520 Discover Savings Push
9/19/2024 – $520 Discover Savings Push
11/15/2024 – $250 New Account bonus received
up to $300 now
If the sending bank sends micro deposits to confirm the account, will the bonus still trigger? I’m trying to add the Capital One account as an external account to send an ACH push from one of the banks on the list, but it wants to send a trial deposit to verify. Wondering if I should proceed.
It seems like you are asking if sending test deposits will make your “fake” DD not work as a QDD. Is that correct? If so, the answer is “very unlikely”.
are your micro deposits > $500 each ? lol
Would this regular transfer from Chase count for the bonus?
https://imgur.com/a/W2pLniB
8/13 – Account Opened
8/15 – $501 Chase push
9/5 – $503 Chase push
10/28– $250 New account bonus
can you please explain what you mean by “Chase Push” how did you transfer the money to capital one that qualified as direct deposit to get the bonus? thanks.
Go into your chase account and push the money from chase to wells fargo.
lol this didn’t explain anything
ACH transfer (not the “Real Time” one)
ACH transfer (not the “Real Time” one)
Always remember don’t pull from your target account.
Is there a status tracker?
8/26 – Account Opened
9/2 – $501 Fidelity push
9/6 – $501 Fidelity push
10/21 – $501 Fidelity push
11/12 – Cha-Ching!
Which one did you use, brokerage or CMA?
once you do the two DDs of 500+$, can you withdraw the money from the checking account. Does the balance of the checking account have to remain the amount you put in as the DD?
No, there are no minimum balance requirements, hence you can withdraw the entire amount immediately. Just leave $0.01 in the account so it has a positive balance.