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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.
- 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
- 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.
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.