Capital One 360 Checking $250 Bonus w/ Direct Deposit — My Money Blog

Capital One has a $250 bonus for “new” 360 Checking accountholders. 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, 2022, you will be ineligible for the bonus. Here are the details:

• Open a 360 Checking account on or after August 22, 2024, using promotional code CHECKING250.
• Complete at least 2 Qualifying Direct Deposits each of $500 or more to your 360 Checking account within 75 days of account opening.
• You have 75 days to complete the requirements above.

  After the first 75 days from account opening, your status to receive the bonus will be assessed and processed, which can take up to 60 days. This means, if all requirements are met, you can expect your bonus to be deposited into your account within 135 days from account opening. To receive your bonus, your account must also be open and in good standing at the time the bonus will be deposited.

(This can be a good idea to close any idle Capital One 360 accounts.)

The 360 Checking account is similar to many other online checking options. There is a rather disappointing 0.10% APY interest rate, and nothing special 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.