Savings

Bonus offers of $150, $250, $450 – Forbes Advisor

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Capital One is one of the largest banks in the country by assets. It aims to attract even more customers and deposits by offering $250 for opening a personal checking account and up to $450 for a new personal savings account.

In addition to bonus offers, Capital One checking and savings accounts have certain advantages: no monthly fees or account minimums, an extensive network of ATMs, access to paychecks for up to two days advance and a 50% discount on coffee purchases in the growing network. Capital One coffees.

How do I earn a Capital One bonus?

Capital One offers relatively competitive and easy-to-earn welcome bonuses to new customers who open checking and savings accounts.

  • To earn a checking account bonus: Open an account and make a minimum amount of direct deposits during a qualifying period.
  • To earn a savings account bonus: Make a required deposit to open a new account and keep your balance for a certain period of time.

Here are details of Capital One’s limited-time welcome offers for new customers. Offer details are accurate as of May 25, 2022.

Capital One Promotions for 2022

Capital One 360 ​​Checking Account Bonus: Earn $250

Capital One’s 360 Chequing Account is suitable for people who want to keep fees to a minimum and don’t need a physical banking location. If you use your checking account to receive your paycheck, pay bills, get cash, and deposit the occasional check, a 360 checking account might be right for you.

  • What is the offer? Open a new Capital One 360 ​​checking account, then set up and receive at least two direct deposits of $250 or more within 75 days of opening your account, and you’ll receive a $250 bonus.
  • What is direct deposit? A direct deposit is a payment to your account, such as your paycheck, pension, or government benefits. Person-to-person (P2P) payments from services like Venmo and Zelle don’t count.
  • When do you receive your bonus? You will receive your bonus on the last day of the calendar month, five months after opening your account. For example, if you open your account in June 2022, you will receive your bonus by November 30, 2022.
  • Is there a time limit on the offer? Yes. This offer is available to new accounts opened by June 21, 2022.
  • Is there an offer code for this promotion? Yes. Use promo code BONUS250 when opening your account.

Capital One 360 ​​Performance Savings Account Bonus: Earn $150 With $20,000 Deposit

You can earn a $150 bonus for opening a new 360 Performance Savings account with Capital One. It’s a great deal if you’re looking for a place to stash an emergency fund or save for another goal. The account pays 0.60% APY, a competitive rate compared to the best savings accounts on the market.

  • What is the offer? Earn a $150 bonus after depositing $20,000 or more from an external account to a new 360 Performance Savings account within 15 days of account opening and keep the money on deposit for at least 90 days . Your deposit must be “externally sourced funds”, which means it comes from a source not affiliated with Capital One.
  • When do you receive your bonus? Your bonus will be paid no later than the 12th of the calendar month, six months after opening your account. For example, if you open your account in June 2022, you will receive your bonus before December 12, 2022.
  • Is there a time limit on the offer? Yes, the offer available for new customers who open an account on or before June 29, 2022.
  • Is there an offer code for this promotion? Yes. Use promo code SAVE22 when opening your account.

Capital One 360 ​​Performance Savings Account Bonus: Earn $450 With $50,000 Deposit

Capital One’s savings account bonus is more generous if you deposit a minimum of $50,000. New customers who open a 360 Performance Savings account and deposit $50,000 or more are eligible for a $450 welcome bonus.

  • What is the offer? Earn a $450 bonus with a deposit of $50,000 or more from an external account to a new 360 Performance Savings account within 15 days of account opening and keep the money on deposit for at least 90 days. Your deposit must be “externally sourced funds”, which means it comes from a source not affiliated with Capital One.
  • When do you receive your bonus? Your bonus will be paid no later than the 12th day of the calendar month, six months after the date you opened your account. For example, if you open your account in June 2022, you will receive your bonus by December 12, 2022.
  • Is there a time limit on the offer? Yes. This short-term offer is available to new customers who open an account by June 29, 2022.
  • Is there an offer code for this promotion? Yes. Use promo code SAVE22 when opening your account.

How good are Capital One welcome bonuses?

Capital One promotional welcome bonuses are competitive with the best bank bonuses available. If you’re comfortable with online banking, this bank’s bonus offers are a great way to earn money while moving your business to a bank that will work well for you.

But there is a downside. Capital One’s 360 Performance Savings Account bonus offer requires a high deposit amount to qualify. You can earn a $150 bonus after depositing $20,000 or more from an external account into a new 360 Performance Savings Account within 15 days of opening the account and keep the money in deposit for at least 90 days or earn a $450 bonus with a deposit of $50,000 or more from an external account to a new 360 Performance Savings account within 15 days of account opening and keep the money on deposit for at least 90 days.

If your balance falls below $20,000 or $50,000 during the qualifying period, even for one day, you may not receive your bonus.

If you decide to open a Capital One savings account and want to earn the bonus, make sure you can set aside the required amount of money for a few months.

The advantages of Capital One

Capital One offers its customers a simple banking experience with low fees and competitive APYs. If you don’t often need to visit a physical branch, banking with Capital One is a good way to make sure you’re not paying monthly fees for an account.

Here are some other features offered by Capital One:

  • Overdraft options. Capital One lets you select what happens if you go over your account. You can ask Capital One to decline transactions, automatically transfer money from another account, or temporarily hold a negative account balance on approved transactions.
  • Advance payment. When you sign up for direct deposit of your paycheck or other periodic payment, Capital One may make your payment amount available up to two days before you receive the funds.
  • Cash deposits. By using the Add Money in Store feature with the Capital One mobile app, you can deposit up to $999 in cash each day at CVS locations.
  • Capital One Cafes. If you need help with your account, you can visit a Capital One Café, available in select locations, and chat with an Ambassador. If you have a Capital One debit or credit card, you can get 50% off a craft coffee drink.

What else should you know about Capital One’s offerings?

Your bonus may be taxable

The bonus you earn by opening a Capital One checking account or savings account may be considered taxable income. Capital One will report your bonus as interest income on a Form 1099-INT to the IRS and send the information to your tax authority if necessary.

You must be a new customer

To be eligible for the New Account Bonus, you must not have held or been a secondary holder of a comparable account with Capital One since January 1, 2019.

Customers who have held a 360 checking account will not be eligible for the checking account promotion. Customers who have held a 360 Performance Savings, 360 Savings, 360 Money Market, Savings Now or Confidence Savings account are not eligible for the savings account bonus.

Find the best online savings accounts of 2022

Conclusion

Capital One has simplified banking to provide a low-cost experience for customers who are comfortable with online banking. In addition to providing a simple experience, Capital One accounts offer benefits such as no-fee overdrafts, prepayment opportunities and access to Capital One cafes.

For a limited time, you can earn $250 if you open a new checking account or up to $450 if you open a new savings account.