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Capital One 360 is currently offering a $350 bonus when you open a new checking account and receive two direct deposits of $250 or more within 75 days of account opening. That’s quite an easy bonus to hit and at $700 for those playing in two-player mode, I could see this being really attractive to those who can take advantage. Note that this bonus is available nation-wide.
The Deal
- Capital One is offering a $350 bonus when you open a new 360 Checking account with bonus code BONUS350 by January 9, 2024 and receive two direct deposits of $250 or more within 75 days of account opening
- Direct link to this deal
Key Terms
- To earn the bonus, you must:
- Open a 360 Checking account between 12:00 a.m. ET on August 2, 2023 and 11:59 p.m. ET on January 9, 2024. When you open your account, ensure you enter in the promotional code BONUS350 in the Promo Code box.
- Set up and receive at least 2 qualifying direct deposits each of $250 or more to your 360 Checking account within 75 days of account opening. A Qualifying Direct Deposit is a regular periodic payment, such as salary, pension, government payments (for example, Social Security), or other monthly income that occurs as an Automated Clearing House (ACH) or Real-Time Payment network credit from your employer or an outside institution. ACH credits or fund transfers initiated via the Capital One website or mobile app and wires are not considered a Qualifying Direct Deposit.
- If you have or had an open 360 Checking, Simply Checking, Total Control Checking or Money Teen Checking account as a primary or secondary account holder with Capital One on or after January 1, 2021, you will be ineligible for the bonus. I
- Your bonus will be deposited into your account within 60 days after you have completed the requirements above. This 60-day period begins the day after your second Qualifying Direct Deposit has been posted to your account.
Quick Thoughts
This is a very easy checking account bonus to earn. While the terms require two direct deposits of $250 of more and indicate that ACH transfers will not count, data points show that the direct deposit requirements can be easy to meet with a variety of activities.
I’ve actually had a Capital One 360 account for many years and have frequently used it to meet direct deposit requirements at other banks as ACH pushes from my 360 Checking account have almost always successfully triggered direct deposit requirements at other banks. The 360 Checking account has no fees and no account minimums, so it has been very easy to keep the account over the years.
Speaking of keeping the account, there’s no early termination fee if you meet the terms of the promo and earn the bonus and then decide that you no longer want to keep the account. On the flip side, if you have or had an open 360 Checking, Simply Checking, Total Control Checking or Money Teen Checking account as a primary or secondary account holder with Capital One on or after January 1, 2021, you will be ineligible for the bonus.
Overall, this bonus looks like easy money. I like checking account bonuses with low requirements and often look at them in terms of the total being doubled since my wife and I will both go after a bonus like this and put together $700 in easy money (note that neither of us is eligible for this specific bonus). I have often said that one can look at bonuses like this in terms of the points they could buy — I have at times used money from bonuses like these to buy Hilton or IHG points on sale — since those currencies often go on sale for half a cent per point, you could potentially buy 70,000 points with a bonus like this (or double that in two-player mode). Bonuses like this one can make for a nice slush fund for stuff like that and if you’re able to leverage those points for a great redemption, all the better.
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Bummer, had this on my calendar to sign up for today, which I thought would still be several days before the 1/9/24 deadline. Guess they changed things, and by the looks of the comments it was a while ago. I believe this offer was still listed in the weekly “ending soon” list just last week (12/31), FYI. All good, though. On to the next offer.
They should change the deadline date to reflect an accurate one. This is disappointing 🙁
Heads up! The date has changed. You must now sign up by October 30th, 2023 to get the bonus.
Anyone know if when adding the CapitalOne Checking to a PayPal or Venmo account if it’s better to connect using the micro deposits which takes 2-3 or connecting instantly?
Does Zelle count as direct deposit?
I don’t know for Zelle, but my husband did it with CashApp and it worked. He got his $350 bonus after two days following the second transfer.
It looks like this promotion will continue until January 9, 2024?
Bingo. Got bonus on in 2 days in 2 separate accounts by transferring money from a FIDO cash management account. Will see if it works for AMEX checking account.
Worked great for me. Already had the cap one credit card so found the specific link for the bonus and went through that. I believe I just googled it but sometimes it would also ask in the app. You have to make sure you see that code or offer on your sign up. I use an app called gusto through work in which we get paid and just used the paycheck splitter option to put $251 in each pay. Second $251 deposit was on a Friday and the next week on a Monday (10 days later) I received the bonus!
I believe the people having trouble are making this too difficult for themselves. Make sure your code is showing when you sign up, and make sure it’s a qualifying deposit/transfer from another account (call if you’re unsure)
If I already have an old (before 2021) 360 Checking open, can I open another? Do I need to convert or close the other account first?
Looks like a Push from Ally showed up as P2P, will this still qualify for the bonus?
I pushed two deposits a week ago from Sofi and it didn’t trigger the bonus. They show up as transfers and not an ACH. It seemed to work for someone else, but it’s not working for me.
Edit: I didn’t wait long enough. The bonus did show up 7 days later.
That’s great. How much is Sofi’s bonus?
Nothing is EASY with Capital One. On the other hand AMEX checking is very easy peasy !
@Lola, if you were able to input the bonus code, I’m hoping you will get the bonus. I wasn’t able to put in the code.
Heads up. If you are already a Capital One credit card holder, site will lead you to a form that has your information and there is no ability to add BONUS350 on the application..
To clarify, I used your link. Previously had my Capital One credit card tied to my Schwab account for bill pay. When I set up account, the site simply transferred funds from Schwab to Capital One. No place to input “BONUS350.”
So does this mean the promo isn’t applied? Cause I also did the same thing? I’m wondering if I should call customer support
If using the link you don’t need to add it. It says on the top “bonus350 applied” and on the final confirmation screen at the bottom shows you that you used the bonus.
Just went for P1 & P2 easy $$.
what does two player mode mean?
It’s when two people work together to earn more rewards. For example, you can often earn extra rewards by referring each other for things where there’s a bonus for both the referrer and the person being referred.
Has anyone not having any relationship with capital one tried to open an account ? They are asking to upload drivers license or a permanent residence card. Are they discriminating ? Has someone named Nick Reyes been asked for a copy of a passport ?
I don’t have a relationship with Cap One and was instantly approved.