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.

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