$400 Bonus Capital One 360, worth it?

[Anonymous]

I'm waiting on my bonus until May. Opened in Jan. Free checks and get free cashier checks mailed.

A workaround or alternative to a payroll DD, I believe you can use PayPal deposit as a DD. There is a special code that banks use to signify a dd and will not have holds.

[MzChrissy]

Glad I saw the email message from this forum and decided to see what was going on. I saw people got their funds and I check, so did I on 2/18/21. I made two qualified deposits and never used the account again. Once I transfer the funds, I plan to close the account. My qualifying transactions was made by a NFCU transfer of $1,001 and a DD of $1,001. I transferred my funds out the account the very next day.

[Anonymous]

Easiest $400 I've ever made! I just did a couple of allotments from direct deposit and was able to yank $400, fee free, from any wallgreens atm. Can even do two of those withdrawals back to back walking out of Walgreens with $800 cash and zero fees of any kind. Just moved over to Huntington Bank for the same thing for $200

[Royalbacon]

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@DaveInAZ wrote:

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@newmomnewme wrote:

Ok...I guess I will see on Monday. 2 of 4 banks deposit early. Obviously Cap1 isn't an early depositor at least not for me. PNC offer expires 11/30, I've gotta jump on that one too. 

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I've found very few large banks do early credit of payroll DDS.

I app'd for Cap One first on 11/18 and then PNC later that day, instant approval for Cap One, "we'll review your app" for PNC. Both use EWS and DPs indicate PNC can be skittish on recent EWS inquiries. I called PNC 12/20 to ask of I could 'provide any additional info'. Rep had me confirm all my personal info and then told me they review all apps manually and to call back by 11/24 if I didn't hear anything by then. I did mention that I banked with BBVA so I wanted an "early start" with PNC. Don't know if that helped but I did get an approval email 11/24. With PNC you have to wait for the debit card to arrive to get online access and find out your account #, so that cuts into your 60 days to meet DD requirement.

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I opened a Capital One checking then PNC a few weeks later. My PNC was instantly approved. They give you your account numbers if you're instantly approved and can immediately sign up for online banking. Unfortunate for those who aren't approved instantly.

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@krielly wrote:

1. Even though I entered the code, they were NOT able to see it on their end.

2. I was assured that my ACH deposits (while not payroll) would count towards the bonus. (I will call a rep after the first one occurs to be certain of this fact)

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Don't call and ask if an ACH works as a direct deposit. DoctorOfCredit has an excellent article about it. You very well could even potentially get your account flagged and then you'll screw yourself out of the bonus.

https://www.doctorofcredit.com/dont-call-the-bank/

Changing direct deposit for your payroll is a hassle for a lot of people (along with updating your automatic payments and any other bills you got coming out of your checking account) and if they change it and keep it there for a couple payroll cycles to meet the requirements to get the bonus, the bank is hoping you'll just keep it there and make the new account your primary checking account going forward.

Instead of calling, DoctorofCredit has an excellent page with a giant list of what qualifies as a direct deposit with many, many different banks & credit unions.

https://www.doctorofcredit.com/knowledge-base/list-methods-banks-count-direct-deposits/

And a datapoint from me, a few days after opening my Capital One Checking, I got an email from Capital One saying I used the promo code to get the bonus and it went over the details of the bonus outlining the steps to get my $400 bonus. So if you used the code properly, I would think everyone should get that email. Good indication that you did it correctly during the application to open the account

[Anonymous]

I think I may have screwed up on this one and I'm kicking myself in the behind! I'm usually pretty good with following instructions to the T but I thought we just needed a direct deposit totaling $1000 or more to trigger the $400 bonus. Because...... I did just that.. 1 direct deposit of $1043 on 11/30 instead of the 2 deposits.

Anyone did just one and still got the deposit? 

[newmomnewme]

Me too!! Such a pleasant surprise. I was thinking it wouldn't show up until March. Zelling it to Navy now and heading to US Bank to see if I can go for their SUB. 

[Anonymous]

If I remember correctly it was 2 direct deposits totalling $1000 or more within 60 days of account opening which I accomplished almost immediately. I beleive it took a statement cycle after the 60 days before they gave me the $400 credit. I'll check a little later this afternoon and report back. Just be patient though, the credit didn't hit right away even though I met the terms of the promo.

[tnhomestead]

Just got my 400 couple weeks back so well worth it to me.  I did drop the deposit to  150 weekly and just use that for their credit card!

[krielly]

I didn't have any issues from calling to inquire about the ACH deposit. 

The only reason my code did not stick was because I didn't immediately fund the account, and there was a glitch in their system. I called on March 1st, as they told me to to get my bonus applied.

Had the money in my account on March 4th.

Easy peasy!