Posted by William Charles on December 22, 2015
Bank Account Bonuses

Published on December 22nd, 2015 | by William Charles


[NY Only] Capital Bank $200 Checking Bonus ($100 Without Direct Deposit) + 2% APY

Offer at a glance

The Offer

Direct link to offer

  • Receive a sign up bonus of $200 when you open a Capital Bank checking account and complete the following requirements:
    • $100 for your first direct deposit
    • $100 for your first bill pay
  • You can also get a 2% APY rate on their checking account (balances of up to $25,000)
  • And a 2% APY CD (balances of up to $100,000)

capital bank $200 bonus

The Fine Print

  • Requirements need to be completed within 90 days of account opening
  • Incentive(s) will be auto-credited to the account
  • Accounts must be opened in branch, all locations are in NY. Branch locator found here.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

This account has a $10 monthly maintenance fee, it’s waived if you complete all of the following per statement cycle:

  • at least one regularly scheduled direct deposit
  • monthly eStatements
  • make at least 8 credit or signature Debit Card transactions during each statement cycle

We weren’t able to find the fee schedule, so I’m unsure if any early account termination fee is charged.

Our Verdict

This seemed like a great bonus until I saw how difficult it is to keep the account fee free, how good it is really depends how quickly the bonus posts and whether it’s a soft or hard pull. If anybody gives this bonus a go, please share your experiences in the comments below so we can add some more information. Due to this uncertainty we haven’t added it to our best bank bonus page. But feel free to have a look at those or have a look at our page with all of the current checking bonuses found here.


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I did this bonus and it was a lot more work than it was worth. Had to do it in branch and received 2 $100 certificates that I had to go into the branch to redeem once I met the requirements. Also the process of redeeming took a long time as the bank representative had to fill out forms for a 1099.

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