[Expired] [LA, NY, NJ, CT, TX & In Branch] Capital One $400 Savings & $200 Checking Bonus

Deal has now expired, click here to view the best checking/savings bonuses

Offer at a glance

• Maximum bonus amount: $400 savings & $200 checking
• Availability: LA, NY, NJ, CT, TX & In Branch
• Direct deposit required: Yes, two direct deposits of $250+ each for checking bonus
• Additional requirements: See below
• Hard/soft pull: Soft, as long as you opt out of overdraft protection
• ChexSystems: Yes
• Credit card funding: None
• Monthly fees: None
• Early account termination fee: None
• Household limit: None mentioned
• Expiration date: June 30th, 2017

The Offer

Direct link to offer

• Capital One is offering bonuses of up to $600 for opening new checking/savings accounts when you mention promo code NF9:
  • $400 for opening your first Essential Savings account and depositing $50,000 or more. APY for this account as follows (thanks to reader Michael.
    • $0.01-$10,000: 0.1% (bonus rate of 0.10% for first 6 months)
    • $10,000.1-$1,000,000: 0.8% (bonus rate is 1.10% for first six months)
    • $1,000,000.01+: 0.5% (same bonus rate for first six months)
  • $200 for opening your first High Yield Checkng or Essential Checking account and completing two direct or mobile deposits within 90 days of account opening

The Fine Print

• Open your first Capital One Bank Essential Savings account and deposit at least $50,000 by 06/30/17 11:59 p.m., ET. You’ll receive the $400 cash bonus in your savings account approximately 6-8 weeks after completing the above conditions.
• Open your first Capital One Bank Essential Checking or High Yield Checking account and deposit at least $50 into your Essential Checking account or $500 into your High Yield Checking account by 06/30/17 11:59 p.m., ET. Receive two direct deposits or make two mobile check deposits within 90 days of account opening. (Direct deposits can’t be from a tax refund or from a payor that won’t allow them.) You’ll receive the $200 cash bonus in your checking account approximately 6-8 weeks after your direct or mobile deposits are completed.
• These offers are only available for new customers and cannot be transferred.
• If you’re an existing or former Capital One Bank or Capital One 360 customer or a Capital One Associate, you won’t be eligible for the bonuses.
• To receive any of these cash bonuses, your account must be in good standing (not in default, closed, or suspended).
• If you open an account through a business, it may be subject to closure/conversion. Each customer is eligible for only one checking account opening bonus and one savings account opening bonus.
• These offers are only available in Louisiana, New York, New Jersey, Connecticut and Texas.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

There are no monthly fees on this account and no early account termination fee.

Our Verdict

There is a $400 checking bonus people have had success getting, there is also a money market bonus for $200. Bonus on the essential savings account looks new, but not sure if they just use esssential savings instead of the money market account in select states. The interest rates on balances of $10,000.01-$1,000,000 (1.1% for first six months) aren’t terrible to other basic high interest accounts.  To trigger the bonus you’d need to deposit deposit $50,000 and then can withdraw it (you will need to wait a minimum of 10 days). Pretty good deal, so we will be adding this to our list of the best saving account bonuses.

I’d pass on the checking bonus but savings bonus might be useful. Share any DPs or anything else you know in the comments below.

Big thanks to reader, Curmudgeon who let us know. Learn how to find bonuses and contribute to the site here.

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