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3 easy steps to a $400 checking account sign-up bonus

Jan. 26, 2021
4 min read
Businesswoman handing money to cab driver
3 easy steps to a $400 checking account sign-up bonus
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Here at The Points Guy, we typically focus our attention on helping you earn the best credit card sign up bonuses. But every so often, a bank offers a checking or savings account promotion we just can't pass up.

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Through Tuesday, Jan. 26, Capital One is offering new customers a $400 bonus for opening a 360 online checking account. To qualify for the promotion, customers must use promo code BONUS400 or use the direct offer link when signing up, then make two automated clearing house (ACH) direct deposits of $1,000 apiece into the new checking account within the first 60 days of opening.

The additional fine print is simple and straightforward:

  1. Open a 360 Checking account before 11:59 p.m. Eastern time on Jan. 26, 2021. When you open your account, enter your promotional code — BONUS400.
  2. Receive at least two 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.
  3. This account is subject to approval. This offer cannot be combined with any other 360 Checking account opening offers. Only one promotional code is accepted. Bonus is only valid for one new 360 Checking account.

Customers who have or had an open 360 Checking account as a primary or secondary account holder with Capital One on or after Jan. 1, 2018, are ineligible for the bonus. Customers whose accounts are in default, closed or suspended, or otherwise not in good standing will also not receive the bonus.

A Capital One representative confirmed to TPG that customers can transfer money from an external account to qualify for the promotion, but each $1,000 deposit must come in the form of an ACH transaction in order to qualify.

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Qualifying customers who sign up in January 2021 will receive their bonuses by May 31, 2021.

Capital One has become a growing contender in recent years amongst the major players in the points and miles space. First, the issuer announced travel transfer partners for its Venture and Spark cards in late 2018 — a roster of participating hotels and airlines that has only grown since its inception.


Then in late 2019, Capital One offered a $200 sign-up bonus for opening a high-yield savings account (HYSA) and maintaining an account balance of $10,000 for 60 days. Capital One's HYSA still offers one of the higher interest earning rates on the market, at 0.40% APY as of the time of this post; however, this current $400 promotion for a new checking account blows the $200 deal out of the water.

The information for this offer has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

Featured image by Getty Images/Uppercut RF
Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.