[Expired] [YMMV] Capital One $400 Checking Bonus

Reposting this due to all the successful data points in the comments. Goodluck!

Please note this is a targeted offer with the following language: IF YOU DID NOT RECEIVE AN EMAIL OR MAIL PIECE DIRECTLY FROM CAPITAL ONE 360 WITH THE ABOVE CODE, YOU ARE INELIGIBLE FOR THIS BONUS OFFER.

Offer at a glance

• Maximum bonus amount: $400
• Availability: Nationwide, but targeted
• Direct deposit required: Yes, two direct deposits of $250+ each
• Additional requirements: Use promo code PLUS400
• 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 mentioned
• Expiration date: June 30th, 2017

The Offer

Direct link to offer

• Open a new Capital One 360 checking account by June 30th, 2017 and receive two direct deposits of $250 or more within 60 days of accepting the terms. You must also use the reference code PLUS400.
  • Promo code needs to be added on the funding page

The Fine Print

•  IF YOU DID NOT RECEIVE AN EMAIL OR MAIL PIECE DIRECTLY FROM CAPITAL ONE 360 WITH THE ABOVE CODE, YOU ARE INELIGIBLE FOR THIS BONUS OFFER.
• To qualify for the bonus, you must be the primary account holder, and this has to be your first 360 Checking account (this includes former Electric Orange accounts, too).
• Beginning April 3, 2017, to earn the $400 bonus you must accept the terms on a new 360 Checking^® Account by June 30, 2017. 11:59 p.m., ET and receive 2 direct deposits of $250 or more within 60 days of accepting terms and conditions for your new account. You will receive the $400 credit to your checking account about 90 days after accepting terms and conditions. This offer cannot be combined with any other Capital One Bank^® new account opening offer.
• Direct deposits must be an electronic deposit of one of the following: your paycheck from your employer, Social Security/pension or other government benefits. Direct deposit is subject to employer or other payor options.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

There are no monthly fees on this account and no early account termination fee.

Our Verdict

Ok, so the fine print states that this is a targeted offer but this might not be being enforced (one datapoint here and more via e-mail as well). You can read data points on people getting the bonus when not targeted for a previous $400 offer here as well (and a recent $200 offer). This is really YMMV and remember you won’t be eligible to ever get the bonus again if you sign up for an account. I wish everybody the best if they decide to go for this offer, but I don’t feel comfortable making a recommendation one way or the other. Debate this among yourselves in the comments. As always you can view bonuses we do recommend here.

Useful posts regarding bank bonuses:

• A Beginners Guide To Bank Account Bonuses
• PSA: Don’t Call The Bank
• Introduction To ChexSystems
• Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
• What Banks & Credit Unions Do/Don’t Pull ChexSystems?
• How To Use Our Direct Deposit Page For Bank Bonuses Page
• Common Bank Bonus Misconceptions + Why You Should Give Them A Go
• How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
• Affiliate Links & Bank Bonuses – We Won’t Be Using Them
• Complete List Of Ways To Close Bank Accounts At Each Bank
• Banks That Allow/Don’t Allow Out Of State Checking Applications