Deal has ended, view the best bank account bonuses by clicking here.
Update 6/3/20: New targeted bonus was sent out via email for June, I’ve updated the link below. Hat tip to readers LT and YAR
Offer at a glance
- Maximum bonus amount: $150/$450
- Availability: Targeted
- Direct required: $20,000/$50,000
- Expiration date:
May 31st,June 30, 2020 (funds tied up through September 28)
- Capital One 360 is offering some existing customer a bonus of up to $450:
- Get a $450 bonus when you deposit $50,000 or more of new money by May 31, 2020 and maintaining in the account until 11:59 p.m. ET, August 29, 2020.
- Get a $150 when you deposit $20,000–$49,999.99 of new money by May 31, 2020 and maintaining in the account until 11:59 p.m. ET, August 29, 2020.
The Fine Print
- This bonus offer is meant only for the original recipient. Those who are not the original recipient will not receive a bonus offer. Please don’t share it.
- Increase your current balance by depositing $20,000 or more of new money from an external bank (Balance Build Deposit) account into your 360 Performance Savings account mentioned by the last 4 digits of the account number in the communication you received (account must be opened prior to 3/15/2020) between 12:00 a.m. ET on April 27, 2020, and 11:59 p.m. ET on May 31, 2020.
- $150 bonus—the money you deposited from an external bank was between $20,000 and $49,999.99 (Lower Tier), and you maintained the Balance Build Deposit daily in the account until 11:59 p.m. ET, August 29, 2020.
- $450 bonus—the money you deposited from an external bank was $50,000 or more (Higher tier), and you maintained the Balance Build Deposit daily in the account until 11:59 p.m. ET, August 29, 2020.
- If your Balance Build Deposit balance drops to the Lower Tier at any point between 12:00 a.m. ET on June 1, 2020, and 11:59 p.m. on August 29, 2020, you’ll earn the Lower Tier bonus. If your deposited balance drops below the Lower Tier, you will not qualify for a cash bonus. If you make additional deposits after May 31, 2020, to reach the Higher Tier, you’ll only be eligible for the Lower Tier bonus.
- This offer cannot be combined with any other Capital One offers. The bonus is only valid for one account.
- Capital One will deposit the bonus into your 360 Performance Savings account mentioned by last the last 4 digits of the account number in the communication you received within 60 days following August 29, 2020. If your account is in default, closed, suspended, or otherwise not in good standing, you will not receive the bonus.
- A rate of 1.50% Annual Percentage Yield (APY) applies to all account balances. Advertised rates are variable and effective as of 4/27/2020. Rates are subject to change at any time before or after account opening.
There’s a somewhat similar bonus from Capital One for new customers. The deal described here is for existing customers, and it’s only been sent out to select people; no luck for me, but seems it does seem to have been sent out widely (
possibly to those who are active in their 360 savings account).
I love these kinds of deals for existing customers – we’ve seen similar ones from Ally, Marcus, etc – since you already have the account set up and it’s easy to add the funds. These deals aren’t necessarily an incredible value, but cash sitting around in a high yield savings account, a deal like this can spruce up your returns. The 360 savings account already offers a competitive 1.5% APY return, and this bonus will get you an additional 3-4% APY for the few months necessary to get this bonus.
Hat tip to readers Allen, SM, ieatdogfood