Capital One 360 New Account Bonus: Up to $400 Cash for Checking Account

Editor’s Note: As of January 28th, 2021, this offer is no longer available. We will update this post whenever this offer returns – until then, our post on the best bank bonuses and promotions has other offers that might interest you or click here to sign up for our email newsletter and get notified of new bank promotions.

Capital One is one of the most recognizable names in the financial world and Capital One 360 is their online banking arm. If you’re thinking about opening an account and want to know if they have any bonus offers – you’re in the right place.

They offer up to $400 cash bonus for opening a 360 Checking account. There are several offers – the top one requires a direct deposit but there are two more, for less money, that only require you to spend a certain amount using the debit card.


Bank of America $100 New Checking Account Bonus

Bank of America will give you a $100 cash bonus if you open a new account by June 30th, 2021 and receive at least 2 qualifying direct deposits of $250 or more within the first 90 days. The monthly fee is easy to get waived.

Let’s see how you can get this Capital One 360 bonus:

Table of Contents
  1. How to Get $400 for a Capital One 360 Checking Account
  2. How to Get up to $250 for a Capital One 360 Checking Account
  3. About Capital One 360
  4. What To Watch For
  5. Capital One Quicksilver Cash Rewards Credit Card – $200
  6. How Does This Bonus Compare?

How to Get $400 for a Capital One 360 Checking Account

This latest bonus for a Capital One 360 Checking account is super simple.

Just open a Capital One 360 checking account by 1/26/2021 and then receive 2 direct deposits totaling $1,000 or more within 60 days of account opening. If you can’t meet the direct deposit requirement, there are two other offers that are based on spending (but they’re for less money).

The page will populate the promo code automatically but the promo code is BONUS400 on this offer.

That’s it!

There is, unfortunately, no bonus for the 360 Performance Savings account, just the checking.

Learn more about the offer
(Offer expires 1/26/2021)

How to Get up to $250 for a Capital One 360 Checking Account

If you don’t have a direct deposit that meets the requirements for the $400 offer, they also have two offers with a spending requirement.

If you think you can spend over $500 on your debit card in the first 90 days, you’ll want to open a 360 Checking account with the promotion code UPTO250.

Spend over $500 on your debit card within the first 90 days and you’ll get $150 into your account.
Spend over $1,500 on your debit card within the first 90 days and you’ll get $250 into your account.

Bonus is deposited 60 days after the 90-day spend period ends.

Learn more about the offer
(Offer expires 1/26/2021)

If you cannot spend more than $500, then the next tier is at $300 in spending. Open a 360 Checking account by January 26, 2021 with the promotion code BANK100.

Then, use your debit card and spend at least $300 within 90 days of opening that account. You’ll get $100 in the account 60 days after your 90-day spend period ends.

These offers are less generous than the one listed above BUT it has no direct deposit requirement.

Learn more about the offer
(Offer expires 1/26/2021)

About Capital One 360

It only felt like yesterday that the term “online bank” felt like a novelty. ING Direct was still doing silly ads where people didn’t know how to pronounce “ING” (I still say the individual letters). They were acquired by Capital One in 2011 and turned into Capital One 360 – the bank we’re talking about today.

Capital One 360 is FDIC insured as Capital One Bank USA (FDIC #33954) and if you want a deeper dive into the bank’s offering – our Capital One 360 review does a good job outlining it all.

Just as an aside – even without the bonus, Capital One 360 is a pretty good online bank. They have great rates, practically no fees, and one of the nice features is that you can open separate savings accounts for different savings goals. You can do it all online pretty quickly and each one will have its own account number, so you can set up automatic transfers to help with savings. It’s a good way to do envelope budgeting without actual envelopes.

So it’s a case where you come for the bonus but stay for the bank’s other features.

What To Watch For

You are not eligible for this bonus if you’ve had or had an open 360 checking account (as primary or secondary) on or after January 1, 2018.

Otherwise, no other things to watch out for – the account has no monthly fees, no minimum balance, and no gotchas to speak of. I’ve had an account at Capital One 360 for over ten years (it started as an ING Direct account) and have yet to pay a fee.

Plus it earns an interest rate of 0.40% APY, as of .

Capital One Quicksilver Cash Rewards Credit Card – $200

Capital One Quicksilver Cash Rewards Credit CardThe Capital One Quicksilver Cash Rewards is a credit card that will give you $200 after you spend $500 on purchases within 3 months of opening an account.

You also get 1.5% cashback on every purchase, it’s a solid cash back card with no annual fee.

How Does This Bonus Compare?

It’s a pretty solid offer because a bonus of $400 for just is great.

For example, Chase Bank has a competitive bonus too where you can get up to $350 for opening a new checking AND savings account. For their offer, you will have to set up a direct deposit to a Chase Total Checking account AND transfer in $10,000+ in new money to the Total Savings account. This nets you a $200 bonus for the checking and $150 for the savings.

Also, if you want to get $400 from Wells Fargo (this offer is currently not available, we just include it as a reference), you’ll have to open an Everyday Checking account and receive a total of $4,000 or more in qualifying direct deposits into the new checking account within 90 days from account opening within 90 days. It requires just a $25 minimum deposit so the dollar amount is quite low but you’ll have to adjust your financial system so this account gets a direct deposit, likely from your full-time job.

As you can see, this Capital One 360 bonus account is easier because it requires a relatively small direct deposit. Not all offers are this simple, review our guide on bank account bonuses to see what other banks typically require as a comparison.

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Jim Wang

About Jim Wang

Jim Wang is a thirty-something father of three who is a frequent contributor to Forbes and Vanguard's Blog. He has also been fortunate to have appeared in the New York Times, Baltimore Sun, Entrepreneur, and Marketplace Money.

Jim has a B.S. in Computer Science and Economics from Carnegie Mellon University, an M.S. in Information Technology - Software Engineering from Carnegie Mellon University, as well as a Masters in Business Administration from Johns Hopkins University. His approach to personal finance is that of an engineer, breaking down complex subjects into bite-sized easily understood concepts that you can use in your daily life.

One of his favorite tools (here's my treasure chest of tools,, everything I use) is Personal Capital, which enables him to manage his finances in just 15-minutes each month. They also offer financial planning, such as a Retirement Planning Tool that can tell you if you're on track to retire when you want. It's free.

He is also diversifying his investment portfolio by adding a little bit of real estate. But not rental homes, because he doesn't want a second job, it's diversified small investments in a few commercial properties and a farm in Illinois via AcreTrader.

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  1. Matt says

    When reading bonus promotions for direct deposits I’m unclear on the amounts. Looking at the capital one 360 $400 bonus. 2 direct deposits totaling $1,000 or more. Is it $1000 per deposit or $1000 total?


    • Jim Wang says

      The terms say “Receive at least 2 direct deposits totaling $1,000 or more to your 360 Checking account within 60 days of account opening. A qualifying direct deposit is an Automated Clearing House (ACH) credit, which may include payroll, pension or government payments (such as Social Security) by your employer or an outside institution.”

      I read that to mean $1,000 total (or more) between the two direct deposits.

  2. Jason says

    Opened a checking account a while back and can’t remember the exact day, so not sure if I got my deposits in quick enough. Anyway I can go in and see when my account was activated?

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