[Expired] Capital One 360 $400 Checking Promotion

This deal has now expired, you can view the best bank bonuses by clicking here that are still valid.

Update: A number of people are reporting being able to get this bonus even though they weren’t targeted (similar to the Bank of America deal). There is still significant risk that this deal won’t be honored because it specifically states “OFFER IS STRICTLY NON-TRANSFERABLE AND ONLY AVAILABLE TO YOU”, but it might be worth the risk for some as this is 4x the normal sign up bonus. Data points of getting this bonus honored: 1, 2. Data points of not getting this bonus honored: 1

Other people are reporting that they were able to call and see if they were in the database for this $400 offer, if they weren’t found then the CSR offered them a $100 bonus instead. It’s entirely possible that the people who have had this offer honored were in the database for this offer but just didn’t receive the communication for whatever reason.

Offer at a glance

• Maximum bonus amount: $400
• Availability: Nationwide, but targeted
• Direct deposit required: Yes, two $250+ direct deposits
• Additional requirements: None
• Hard/soft pull: Soft, as long as you opt out of overdraft protection
• Credit card funding: Unknown, most likely none 
• Monthly fees: None
• Early account termination fee: None
• Expiration date: March 31st, 2015

The Offer

Direct link to offer (keep in mind this is a targeted offer)

• Receive a $400 bonus when you open a Capital One 360 checking account and receive two direct deposits of $250 or more within 60 days of account opening

The Fine Print

• OFFER IS STRICTLY NON-TRANSFERABLE AND ONLY AVAILABLE TO YOU (if you didn’t receive a targeted e-mail or mail out about this, you will not be eligible)
• To earn the bonus, this has to be your, or your joint account holder’s (if you have one), first Checking account (this includes former Electric Orange accounts, too)
• Eligible direct deposits are: your paycheck from your employer, Social Security/pension or other government benefits. Direct deposit is subject to employer or other payor options
• Valid until March 31st, 2015
• Bonus will be deposited within 75 days of account opening
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

This account has no monthly fees and no early account termination fee

Our Verdict

If you haven’t completed a Capital One 360 checking bonus before, this is an extremely good deal and much better than the $100 bonuses they typically offer on July 4th and for Black Friday. If you’re not targeted, you can try calling 1-800-289-1992 to see if you qualify. Other people have had success doing this for the smaller $100 bonus which is also targeted.

Because this is a targeted offer, we have not added it to our list of bank promotions. It also didn’t make our best bank promotion list for the same reason.

Hat tip to Maximizing Money