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

Offer at a glance

• Maximum bonus amount: $200
• Availability: Accounts must be opened in branch, all locations are in NY. Branch locator found here.
• Direct deposit required: Optional (+$100)
• Additional requirements: One bill pay (+$100)
• Hard/soft pull: Unknown 
• Credit card funding: Unknown, unlikely due to in branch opening been required
• Monthly fees: $10, waivable 
• Early account termination fee: Unknown
• Expiration date: None listed

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)

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.