Offer at a glance
- Maximum bonus amount: $600
- Availability: Nationwide
- Direct deposit required: No
- 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: $15, avoidable
- Early account termination fee: None
- Household limit: None listed
- Expiration date: Unknown
Contents
The Offer
No direct link to offer, being sent out to existing clients currently. Suspect there will be a public bonus at some stage and we will repost when this is the case.
- Capital One is offering a bonus of $600 when you open a new business checking account and complete the following requirements:
- Use promo code BIZCHK600
- Deposit $10,000 within 30 days of account opening
- Maintain a balance of $10,000+ for 60 of the first 90 days of account opening
- Complete 10 eligible transactions (not including debit card, need to be ACH debits or credits and a few other options)
The Fine Print
- You’re eligible as long as you haven’t had a business account. for that business in the past 90 days
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Basic business checking has a $15 monthly service fee, waived with $2,000 minimum balance
Early Account Termination Fee
There is no early account termination fee
Our Verdict
Not sure when the last Capital One business checking bonus was, I do think this is worth doing if you are targeted and hopefully it becomes public. If you put the $10,000 into a 5% account for the 60 days you’d earn ~$84 so this is significantly better.
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
No bonus yet. Opened 11/8, funded 11/29, withdrew funds 2/10.
Same here. And I haven’t seen any DP that reported bonus received yet
I think the fee is $15 mo. if the balance falls below $2000 for the mo. or for 90 day avg?. I moved $10k out so the balance was only$1k. I moved $3000 back a day later so it was $1k for 3 days and back up to $4000 now. wondering if this will avoid the monthly fee? does anybody know if this is waived for new accounts?
For Basic Checking customers, the $15 monthly fee can be waived with a $2,000 minimum 30- or 90-day average balance.
Yes, they won’t charge you a monthly fee. You can safely withdraw $2,000 again.
thanks
Anyone else still waiting for the bonus? I’m at day 95 today and haven’t gotten it but the terms do say 45-60 days after the 90 day timeframe. Looks like one person below received it at around day 95. I met all the requirements but will be moving out most of the $10k balance now since after day 90.
Same here, passed day 90 mark and moved fund out, waiting for bonus. If I remember correctly that person who reported receiving the bonus later found that the “bonus” was an actually ACH transfer, and his bonus was not posted yet
Ditto.
To my knowledge, no DPs of bonus posting yet.
I received the bonus on 02/03/25. However, the amount deposited was $390 instead of $600. I don’t know why I received $390.
Probably tax withholding?
Did you maintain the balance 60 days from the $10k was deposited or did you maintain it till day 90? I am trying to figure out whether I can pull funds out.
If the tax withholding is $210, the tax rate for $600 should be 35%. Isn’t the typical withholding rate 22%?
11/02/24 Open
11/25/24 Deposit $10,000.00
11/25/24 ~ 12/31/24 Over 10 eligible transactions
01/31/25 Day 90 of Account Open
02/03/25 Bonus $390.00
02/04/25 Withdraw
I maintained $10,000.00+ until Day 94.
That is a good point. $390/(1-22%)=$500
If 22% withholding the bonus should be $500
Probably need to reach out to customer service to figure out what is going on.
Thanks for the timeline! I’ll maintain the $10k till day 90 before pulling out.
It was my mistake. The $390 wasn’t a bonus, it was another ACH. Sorry for the confusion. I haven’t received the bonus yet, and the money has already been transferred.
I assume the deposit also counts as one of the 10 transactions?
Yes, it should be. The deposit is an ACH credit.
Anyone met 60days hold time and did you move fund out?
open on 11/3/24, still no bonus posted
Customer service is saying it pays 45-60 days after the 90 day period. Of course, there’s no way to see this information, so who knows. The question is can be pull our $ out now, since we are losing interest…?
“Maintain a balance of $10,000+ for 60 of the first 90 days of account opening”, it seems require holding for 60 days after deposit of $10k, but I’ll play it safe leaving the balance till day 90 and then move out.
Anyone else already met the 60 day hold period and now waiting for the bonus? I don’t recall anyone sharing an excerpt of the terms that detailed when the bonus would post.
I opened November 6th. No bonus as of now.
Same timeline no bonus yet
11/1/24 Opened. 1/3/25 Met requirements.
Did you fund on 11/1/24 when you opened your account?
My account opened on 11/4/24 an $10K on11/16/24 and no bonus yet.
Did you get bonus?
I think we need account opened 90 days.
Did you move fund out after you met 60 days requirement?
Yes
Thanks! I will move fund on Monday!
I received a prompt upon login to call if my business information has changed–it said potential action required. Something about federal law requirements. I clicked out of the prompt but now I think maybe I should have called in. Has anyone else seen this?
Haven’t noticed this before?
Is there a new promo code?