Posted by William Charles on August 9, 2017
Bank Account Bonuses

Published on August 9th, 2017 | by William Charles

136

Capital One $200 Checking & $200 Money Market Bonus, Nationwide & No Direct Deposit Required [YMMV]

Offer at a glance

  • Maximum bonus amount: $200 for checking & $200 for money market
  • Availability: Nationwide, but does contain targeted language (not enforced in the past)
  • Direct deposit required: None
  • Additional requirements: See below
  • Hard/soft pull: Soft, as long as you opt out of overdraft protection
  • ChexSystems: Mixed
  • Credit card funding: None
  • Monthly fees: None
  • Early account termination fee: None
  • Household limit: None
  • Expiration date: Must deposit $1,000 by September 30th, 2017

The Offer

Direct link to offer

  • Capital One is offering up to $200 when you open a checking account and $200 when you open a money market account. To receive the bonus you need to deposit $1,000 in each account.

The Fine Print

  • These cash bonuses are only available to you if you received our offer in the mail and if you do not have an existing 360 Money Market, 360 Checking or 360 Savings account.
  • To receive any of these bonuses, you must be the existing primary or secondary account holder, and account(s) must be in good standing (not in default, closed or suspended).
  • If you open an account through a business, it may be subject to closure/conversion.
  • Bonus is only available for one 360 Checking account and one 360 Money Market account, and multiple new accounts will not qualify.
  • You must have a valid Social Security Number to open a 360 Money Market or 360 Checking account.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
  • Open your first Capital One 360 Checking account or 360 Money Market account online and deposit at least $1,000 per account opened no later than September 30, 2017, 11:59 p.m. ET.
  • Capital One will deposit the $200 cash bonus into your checking account approximately 10 weeks after you accept the account terms and conditions and complete the above conditions. Once it’s deposited, the funds will be available immediately.

Avoiding Fees

Both accounts have no monthly fees to worry about. There is also no early account termination fees.

Our Verdict

In the past the targeted language has not been enforced, but there is no guarantee that this is the case with this promotion (but I suspect it is). They have also offered $400 and $300 bonuses for the checking account before so I wouldn’t seriously consider that option. The money market bonus is a lot better than previous offers though as it only requires a deposit of $1,000 rather than $10,000 (although cumulative deposits worked previously so wasn’t a huge issue). Bonus doesn’t expire for awhile so hopefully a few readers will try the bonus to see if it’s actually targeted or not. For now I haven’t added it to our best bank promotions due to the targeted language.

Big thanks to reader, Preserve who let us know. Learn how to find bonuses and contribute to the site here.

Useful posts regarding bank bonuses:



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Chris
Chris

The exclusions are not quite clear. I have a checking and savings with them. Can I open the money market account for the bonus?

Mike P.
Mike P.

I think we’re SOL.

Mike P.
Mike P.

That being said, I’m going to try it anyway.

Bob Newbie
Bob Newbie

Please report back if it works for you.

Vincent
Vincent

For the one last month, it had a very similar language. I already had a MM account with them (opened early 2017), and tried for the checking. Still got the $300 bonus.

Peter
Peter

@Mike P. Did you open the MM account

Kola
Kola

I agree it isn’t very clear, but this line makes it pretty explicit: “if you do not have an existing 360 Money Market, 360 Checking or 360 Savings account”.

sonia
sonia

So can i open either or do i have to open both in order to qualify?

Daniel
Daniel

Like really. I am still struggling about how to trigger dd requirement for previous promotion. All of sudden this offer comes out.

Dave_B
Dave_B

Schwab Brokerage account ACH works.

Matt
Matt

How about Schwab checking?

Dave_B
Dave_B

Don’t you have to open up a brokerage account when you get a Schwab checking account?
I used brokerage and it worked. No idea about checking.

nickpete
nickpete

Just tried signing up but after I entered my information it said there was a problem with the data I entered. I’ve had a capital one money market account maybe 9 months ago and wasn’t targeted. Not sure if it’s because of the previous account or not being targeted.

Joe
Joe

I opened the checking account for $400 earlier this year. I’ve taken the plunge on the money market and will report back what happens.

Gibunono
Gibunono

Joe, any update?

Thanks.

P
P

“Open your first Capital One 360 Checking account or 360 Money Market account online and deposit at least $1,000 per account opened no later than September 30, 2017, 11:59 p.m. ET.”

What’s the “or”? Is it significant? Do you get disqualified for the bonus if you open both?

sam
sam

If i have a Checking account do i qualify for the money market promo?

Ferris
Ferris

I already received the $400 Checking and $200 MM bonus earlier this year. Do they ever do specials for the “Savings” which is different than the MM?

captainsave
captainsave

Already got the bonus for saving and checking. Just signed up for the MM.

nate
nate

Is there a promo code? Or just follow the link?

Chap
Chap

Are these once a life time? I thought previous 360 promos were always once a life time or am I incorrect and you can churn these as long as you do not have a 360 account currently open?

RB
RB

I just called in and was told that I would not be eligible for this MM offer because I have a 360 checking account. She explicitly said that this offer was only for people who did not have any 360 accounts. I would proceed with caution for all those jumping on this.

dave
dave

does the money need to sit in the account till the bonus posts?

john mccann
john mccann

If you’ve had an account with them before-you can’t get these bonuses.

nickpete
nickpete

That explains why they wouldn’t accept my information!

Thanks

Jason
Jason

I’d feel better about the chances of success for existing account holders (adding money market for the $200) if there were a promo code for the funding screen. Without that, I think it is quite likely this promo will only work for straight up new customers.

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