Capital One 360 Checking Bonuses: $250 w/o Direct Deposit, $300 w/ Direct Deposit

Updated with new offers. Capital One has two different checking bonuses for new customers right now, one that requires direct deposit and another that requires debit card activity. You’ll have to pick one.

$250 bonus w/o Direct Deposit requirement:

• Open a 360 Checking account using promotional code DEBIT250.
• Use your 360 Checking debit card for qualifying transactions at least 20 of $10 or more within 75 days of account opening.

What is “new”? If you have or had an open 360 Checking, Simply Checking, or Total Control Checking account as a primary or secondary account holder with Capital One on or after January 1, 2024, you will be ineligible for the bonus. Hat tip to DoC.

$300 bonus w/ Direct Deposit requirement:

• Open a 360 Checking account using promotional code OFFER300.
• Set up and receive at least 2 Qualifying Direct Deposits each of $500 or more to your 360 Checking account within 75 days of account opening.

For this one, if you have or had an open 360 Checking, Simply Checking, or Total Control Checking account as a primary or secondary account holder with Capital One on or after January 1, 2023, you will be ineligible for the bonus.

The 360 Checking account offers a rather disappointing 0.10% APY interest rate, and nothing exceptional other than the ability to link easily with 360 Savings. Highlights:

• No monthly fees, no minimum balance required.
• 0.10% APY on all balance tiers.
• Remote check deposit via app.
• Paper checks will cost you $20 for 50 checks, or $25 for 100 checks.
• In addition to their own ATMs, Capital One uses the Allpoint ATM network for fee-free ATM access.
• You can use your 360 Savings as the overdraft backup source of funds.

A pretty generous checking bonus if you are eligible, but not that attractive long-term unless you already prefer using CapOne 360 Savings. Capital One does seem to keep offering these bonuses regularly each year, making it a good idea to close any idle Capital One 360 accounts.