[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

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
    William Charles
  • On March 29, 2015, 18:55

View Comments (40)

    • This is targeted: IF YOU DID NOT RECEIVE AN EMAIL OR MAIL PIECE DIRECTLY FROM CAPITAL ONE 360 WITH THE ABOVE CODE, YOU ARE INELIGIBLE FOR THIS BONUS OFFER

      • sometimes at the main branches they can help you open account even if you not targeted!) happened with me once.

  • My friend received an offer for $300 bonus no specific DD deposit requirement. Was targeted obviously . Boston Area.

  • Second DD went in on May 15, bonus "Cha-ching! New account bonus" went in on May 22, 5 business days later. Chase ACH did not work, had to use employer DD. Was not targeted.

  • Can CONFIRM ACH from TD Ameritrade worked to trigger the DD. May 1st second ACH hit account May 12th "Cha-Ching" $400 bonus in the account. (7 business days, 11 calendar days)

  • My wife and I each got the $400 bonus and were not targeted. I thought the deal was open to everyone but we don't have Capital One credit cards and just used the link from the post and the money came in!

          • Thanks, I'll try that next if my bonus doesn't show up in a few days. Today is 6th day, I used Chase ACH though, which should work given the reports. Anyone know if employer DD needs to match bank account owner name with employee name? Or does it depend on employer?

  • Do you have a more current data on which ACH push/transfer will count as DD for CapOne 360?

    I went through your link but it was old data in 2008 and did not say anything about ACH from what bank worked...
    https://www.doctorofcredit.com/knowledge-base/list-methods-banks-count-direct-deposits/#Capital_One_360

    I also checked your Sep 2014 post...
    https://www.doctorofcredit.com/targeted-25-75-direct-deposit-bonus-for-existing-capital-one-360-customers/
    Which ACH push did you use at that time, did it work as DD?

    • People generally only update me on what works/doesn't work when something changes. Any ACH should work with Capital One, I used Ally for that bonus.

      • I spoke with a CSR this morning as I have tried two Ally and two bank deposits of $250 but the bonus was not triggered. The CSR shared the fine print: "Direct deposits must be an electronic deposit of one of the following: your paycheck from your employer, Social Security/pension or other government benefits." Unfortunately I would not be able to change my payroll direct deposit in time. Are there any current datapoints of direct deposits which were non-payroll?

        • Urgh, never call the customer service represenatives about this sort of stuff. Your account has probably been flagged now and any non direct deposit will no longer work.

          • Well, I hear you but I figured I had nothing to lose as there is no way that I would be able to initiate a payroll direct deposit within the 60 days since I opened the account. I opened an account with PNC around the same time and lost a few pay cycles to meet the direct deposit requirement there.

  • This is only for few people selected in lottery, my wife applied via the link and the account was opened but 400$ was not honored.

    The Rep. tried to locate the offer by multiple zip codes we resided over past few years but no luck.

    Do not apply for this if you are not targeted.

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