A $50 minimum opening deposit is required. Here are some details on the bank deal:
- Direct deposit must be set up on a recurring basis and is subject to your employer or other payor offering the direct deposit option
- A payroll/direct deposit transaction must post to your account within 90 days of account opening
- Tax refunds are not considered an eligible direct deposit to receive this incentive
- You will receive a $300 credit to your checking account approximately 6-8 weeks after the end of the promotion and the first recurring payroll/direct deposit is posted to your account
- This offer is strictly nontransferable
- Limit one payroll/direct deposit incentive offer per customer
A quick review of the Capital One Rewards checking account:
- Free checking with no monthly service fees, and no minimum balance nor direct deposit required.
- Earn rewards when you swipe your debit card, write a check, or pay bills online.
- Shop and bank as you normally do—your rewards pile up automatically
- Choose from cash, travel and merchandise.
- Transfer rewards to other Capital One accounts, including business, friends and family
- We’ll also throw in 5,000 bonus miles for opening an account and using direct deposit
Account holders will receive a one-time bonus of 4,000 miles when the first direct deposit transaction posts to the checking account. Account holder will receive 1,000 miles on the first rewards membership anniversary with us if at least one debit card purchase is made during the first membership year. This bonus will be applied to the rewards balance within 60 days following the rewards membership anniversary date.