Capital One 360 Checking bonus requirements

Capital One's 360 Checking bonus is a count of deposits, not only a total. That single difference is why a Chase-shaped checklist will mis-score it.

The code and the account

Open a 360 Checking account on or after 22 August 2024 using promotional code CHECKING250. ¹ The offer cannot be combined with any other 360 Checking opening offer, only one code is accepted per account, and the bonus is valid for one new 360 Checking account. ¹ The account is subject to approval. ¹ The 360 Checking disclosures say eligible customers are at least 18, with a U.S. physical address or a military APO or FPO address. ² Student accounts and bank bonus offers is where that age line sits next to other banks.

Two deposits, not one sum

Set up and receive at least two qualifying direct deposits, each of $500 or more, within 75 days of account opening. ¹ Two deposits of $500 are the test. ¹ A single $1,000 credit is not two deposits. No minimum balance has to be maintained in order to receive the bonus. ¹ There is no monthly cycle service charge and no minimum balance required to open or maintain the account, on the same page. ¹

What Capital One calls qualifying

A qualifying direct deposit is a regular periodic payment, such as salary, pension, government payments (for example Social Security), or other monthly income, as an ACH or real-time payment credit from your employer or an outside entity not affiliated with Capital One prior to 1 January 2025. ¹ Wire transfers, ACH credits, and funds transfers initiated in Capital One's website or app are not a qualifying direct deposit. ¹ Read both sentences together. Employer ACH is in the definition. A transfer you start yourself is in the exclusion. What counts as a direct deposit shows the same split at Chase and Wells Fargo, with different wording.

Who is already out

If you have or had 360 Checking, Simply Checking, or Total Control Checking as a primary or secondary owner on or after 1 January 2024, you are ineligible. ¹ Secondary owner matters. A joint account you were added to can block the bonus even when you did not open it. Joint bank bonuses is that ownership question. If the account is in default, closed, suspended, or otherwise not in good standing before you receive the bonus, you will not receive it. ¹

When the cash arrives

You have 75 days to finish. ¹ After that, status is assessed and processed, which can take up to 60 days, so a completed bonus can land within 135 days from opening. ¹ Nothing is late on day 76. The wait is written into the offer, which is the first check in why the bonus has not posted. The page also says the bonus is reported on Form 1099-INT. ¹ The account has no monthly fee to subtract in the ROI calculator, but the 75 days plus the payout wait are still committed time if your payroll has to stay there. ¹ Capital One says it may take two cycles for direct deposits to take effect, so start the payroll change early. ¹ The same eight lines you would use at any bank are in how to read a bank bonus offer.