Capital One is an American bank and holding company specializing in banking, credit cards, auto loans, and savings accounts. Its headquarters are in McLean, Virginia, and is among the largest technology-focused banks in the United States. The bank mainly operates online and even opening an account is purely online with a computer, smartphone, or tablet. Some banks give a bonus when you open your account or perform a particular transaction. This article will help you learn about the Capital one checking account bonus.
A bonus is a reward that helps boost a customer’s morale to perform a particular transaction. When a financial company gives you a bonus to open an account, their main target is to attract more people to their business to continue making profits. They are aware that, once you join, they will be able to recover their bonuses through various means such as transaction charges, annual fees, maintenance fees, and so on.
When customers get bonuses, they also increase loyalty to the business and tend to transact more with the said company. After all, almost everybody likes free things. Rewards help you see the value of your money to save big. Imagine getting a bonus of $150, $200, $250, and so on. That is quite a large amount of money. However, these bonuses do not just come automatically as terms and conditions are to be met.
How to open Capital One checking account?
Opening an account with Capital One is easy. You only need to do it online with a secure internet plus a compatible device such as a tablet, computer, or laptop. Again, you can open your account in about 5 minutes and save as much time as possible to do other things.
To get started, you need two forms of ID (such as a driver’s license, passport, Social Security Number (SSN), or birth certificate) and proof of address. Once you have these with you, you then apply online using any of the devices I have mentioned above. And by the way, Capital One has a free online checking account with no opening deposit by the name 360 Checking that you can open today.
So when opening your account, you only need to submit all the required details online by filling in the necessary form and attaching documents where possible. After reviewing, you will get feedback from the institution.
What are the features of Capital One 360 Checking account?
The checking account is one of the best accounts you can have for your everyday transactions. It is free to open as long as you have the proper documents and device. It has a mobile app whereby you can manage your finances securely. The app is among the top-rated ones, and you can be sure to get the best services ever.
The account offers 0.10% APY (Variable APY) for balances between $0-$49,999.99, $50,000-$99,999.99, and then $100,000 or more. The account has no fees or minimum deposit amounts. Again, you get a debit card that you can use in more than 70,000+ fee-free ATMs countrywide.
Debit cards are precious tools to have since they allow you to access your money any time of the day. You do not have to walk to a branch to withdraw funds whatsoever as you need to visit an ATM, insert your card into the machine, then enter your PIN to withdraw money.
And for your information, the account is among the banks that give money for opening an account. You can do so much with your account, including direct deposit, ACH transfers, wire transfers, and so on.
Does Capital One offer a checking account bonus?
Capital One has been giving bonuses for opening accounts. You can get a $100 bonus if you open your 360 Checking account and deposit a minimum amount of $400. The bonus was running until January 11, 2022.
To get the bonus, you need to open a Capital One 360 checking account, use the promo code SHARE100 and receive two direct deposits of at least $200 each within 90 days of account opening.
What you need to know is that if you open your checking account, you’ll get the bonus in your account by June 30, 2022
What can you do with the Capital One checking account?
You can do various things with your checking account as we speak. They include the following.
1) Receive money
Your checking account allows you to receive money from others. You can present your account number to others to send you money if they belong to the same branch as yours. Others can send you money from other banks if you give them, you’re routing and account numbers. That can either send you money using a wire transfer or ACH. ACH takes longer than wire transfers because of the processes involved in the transfer.
People can also send you money via Zelle. The platform integrates with the Capital One mobile app to allow sending and receiving of money. And again, Zelle does not require your routing and account numbers, but just your registered phone number or email address, and you are good to go.
2) Send money to others
Capital One allows you to send money with a checking account number instantly. You can also use Zelle, a money transfer service that works with banks and credit unions to send and receive money. Zelle is the most convenient transfer platform because it allows you to send money instantly.
Sending money via Zelle is free. The same applies to sending via ACH transfer. However, wire transfers charge some fees, although not that much.
3) Save money
The Capital One 360 Checking account allows you to save money for the future and earn some interest. Remember I mentioned that the account earns you an APY of up to 0.10% when you maintain the required balance. It is, therefore, one of the few checking accounts that allow you to save money and earn something out of your balance.
4) Write checks
You can write checks to pay people and companies for goods sold or services rendered. Even though using checks is becoming outdated, the method is still used today. You can order your checkbook after your account is active and minimize the need to visit banks for withdrawals.
5) Direct deposit
You can apply and receive direct deposits from your employer or government agency. Direct deposit requires that you provide your account and routing numbers to the concerned organization for them to send you your payments periodically.
You can also use capital one to transfer money to another person using the direct deposit method if you have a business with employees and make salary payments easy.
6) Buy goods and services
You can purchase goods online and at physical places. If you have a debit connecting to your account, you can tap or swipe at the register to pay. Alternatively, you can pay online by presenting your card number, CVV, and the expiration date.
Debit cards allow you to fund transactions for mobile money wallets such as PayPal, Payoneer, Venmo, and Cash App, among others.
Can I use Capital one for my business transactions?
The institution supports business when it comes to receiving payments and saving money for the business. The platform has deals on small business essentials that can be very beneficial. Most banks support businesses to a greater extent since the enterprises bring money to the institutions.
Even big banks such as the Bank of America support small businesses. The Bank of America small business checking account allows small businesses to receive and manage payments.
To get business features for your enterprise, you need to join the Capital One Spring account that deals with small businesses. You can join online by visiting the account registration page, whereby you must provide your names, business details, email, and then create a strong password.
After creating your account, you get a free debit card to use for your business transactions.
Does Capital One issue credit cards?
Like many other financial companies, you can get a credit card from the bank. When applying for a credit card from the company, you must first check whether you are prequalified. There are several credit cards from the company, including the following.
- Platinum Mastercard®
- QuicksilverOne Rewards
- Venture Rewards
Venture Rewards allows you to earn 60,000 bonus miles after spending $3,000 on purchases done within the first 3 months of opening the account. The card charges 5.99% – 23.99% variable APR. With QuicksilverOne Rewards, you get unlimited 1.5% cash back on every purchase you make, every day.
The card allows you to securely and contactless check out at various places. The Platinum Mastercard® has no annual fees whatsoever.
Capital One is an American banking company that specializes in banking, credit cards, auto loans, and savings accounts with headquarters in McLean, Virginia. It mainly operates online, and you can open your account within minutes so long as you have all the requirements.
The bank offers a 360 checking account that allows you to deposit and use your money for everyday needs. You can also get a business account and manage your cash flow effectively.