[Targeted] Capital One $600 Business Checking Bonus

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

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?
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• 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