[Expired] [YMMV] Capital One $400 Checking Bonus

Reposting this due to all the successful data points in the comments. Goodluck!

Please note this is a targeted offer with the following language: 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.

Offer at a glance

The Offer

Direct link to offer

  • Open a new Capital One 360 checking account by June 30th, 2017 and receive two direct deposits of $250 or more within 60 days of accepting the terms. You must also use the reference code PLUS400.
    • Promo code needs to be added on the funding page

The Fine Print

  • 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.
  • To qualify for the bonus, you must be the primary account holder, and this has to be your first 360 Checking account (this includes former Electric Orange accounts, too).
  • Beginning April 3, 2017, to earn the $400 bonus you must accept the terms on a new 360 Checking® Account by June 30, 2017. 11:59 p.m., ET and receive 2 direct deposits of $250 or more within 60 days of accepting terms and conditions for your new account. You will receive the $400 credit to your checking account about 90 days after accepting terms and conditions. This offer cannot be combined with any other Capital One Bank® new account opening offer.
  • Direct deposits must be an electronic deposit of one of the following: your paycheck from your employer, Social Security/pension or other government benefits. Direct deposit is subject to employer or other payor options.
  • 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

Ok, so the fine print states that this is a targeted offer but this might not be being enforced (one datapoint here and more via e-mail as well). You can read data points on people getting the bonus when not targeted for a previous $400 offer here as well (and a recent $200 offer). This is really YMMV and remember you won’t be eligible to ever get the bonus again if you sign up for an account. I wish everybody the best if they decide to go for this offer, but I don’t feel comfortable making a recommendation one way or the other. Debate this among yourselves in the comments. As always you can view bonuses we do recommend here.

Useful posts regarding bank bonuses:
    William Charles
  • On June 12, 2017, 07:51

View Comments (709)

  • I just got the $350 bonus on 11/16/23 after two $251 transfers from Vanguard on 11/10 and 11/13
    Now I need to figure out how to do another one for a family member since my Vanguard is acting difficult to transfer to an account that is not in my name

    • well, I did my relative's deposits via Fidelity and it all worked out well. FWIW it is a lot easier to set up a payee with a different name in Fidelity than it was going to be with Vanguard

  • Used Venmo for both transfers required. Last transfer hit account on 18-Oct. 2 days later bonus was credited to my account.

  • I made two electronic funds transfers (EFT) from Fidelity cash management account, and they counted as "transfer" in the memo. What should I do differently for them to be counted as DD?

    • Any update? I also made two EFTs using Fidelity cash management account but they are appearing as “transfers.”

  • Hey guys, when you transfer from Charles Brokerage, do you link Capital One as external account then do Online transfer from Brokerage account?

  • Dudes, check your CapOne360 tax form that should be out today on their website or in the very near future for you. My 1099-Int from these guys states my interest as $800 instead of $400 (I only did this one bonus). So that $400 reversal / recrediting that they did in December doubled the interest! Complain immediately so you can get corrected 1099 form and of course the more of us complain the faster hopefully they will correct this

      • Ya, I used their chat service and told them about the prob last nite. After a lengthy wait they said the error was due to an "accounting error that occurred in December" (No duh) and said by Feb there should be a new corrected one on their site

  • Strange thing happened on three of my dormant C1 accounts. I got a $400 cha-ching deposit today and a negative $400 reversal. Wonder what is happening, were they trying to clawback. This happened on 3 accounts (I am multiplayer). So i alone have 3 DPS for you DOC.

    • Got the bonus in July. This month (December) saw this:

      Cha-Ching! New Account Bonus Reversal DDA - Bonus 1099 MISC No Hold -$400.00

      Followed by:

      Multiple: Decrease Int Paid (DDA) Decrease Int Paid (DDA) $(various penny amounts)

      Cha-Ching! New Account Bonus DDA - Bonus 1099INT No Hold +$400.00

      All on the same day. I'm guessing it's just an accounting thing.

    • Same here. I noticed the description said something about “1099-INT”. Previous bonus posting said “1099-MISC”. I guess they were trying to issue correct tax forms?

  • My Bonus was manually posted today, I had called 2 weeks ago and the CSR said to call back after Sept. 24th if the bonus didn't post. She said my application on June 29th had the promo code on it, she didn't know why it did not post. Anyway, I called tonight and a different CSR manually posted the Bonus, he also didn't know why it didn't automatically post. Perhaps because I opened the account near the end point of the promotion? Who knows? I got the Bonus, Thanks, DoC!

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