How to Get Free Money: $200+ Cash to Open Capital One 360 Accounts

Looking how to get free money just for opening some accounts? There’s a great deal going on for Black Friday from Capital One 360 (the new name for what used to be ING Direct). If you sign up for a Savings account with a $500+ deposit you can get a $75 bonus. If you sign up for a Checking account and perform some combination of 5 purchases using their debit card and/or 5 remote check deposits using their app (within 45 days) you’ll earn $125. Unfortunately, the bonus doesn’t apply for those who already have an account (like me) – but that limit is per account type. So while I have a savings account with them and can’t claim their $75 bonus, I didn’t have a checking account, so I can claim the $125 bonus!

The deal is running today (November 29th) through December 2nd. I can personally vouch that their savings account works nicely for me and I use it as my emergency savings account. I set up an automatic transfer bi-monthly from our checking account to it and it earns 0.75%. While not amazing, this is a pretty good rate relative for the current environment (and they traditionally have been one of the companies offering one of the highest rates).

 

$75 Free: Open a 360 Savings Account

This is the simpler deal to get. Simply click here to get started opening a 360 Savings account. Deposit $500+ initially and get a $75 bonus. After 30 days you can transfer the bonus out. 360 Savings account have no fees or minimums. So even if you don’t want to keep your cash there, you can deposit $500, wait 30 days and transfer all $575 out. A cool $75 for parking a small amount of cash in another account for a month!

Keep in mind this deal is only good for people who don’t already have a savings account with the company (including Orange Savings Accounts). You really just need a few minutes and a check/checkbook to use to link up your existing checking account to do the deposit.

 

$125 Free: Open a 360 Checking Account

This deal only has a couple extra conditions: You must activate your 360 Checking MasterCard® Debit Card that they mail to you. You must also make a combination of 5 debit card purchases from the account and/or 5 remote check deposits using their app within 45 days. If you do so, on day 50 they credit your account for $125!

So click here to get started opening a 360 Checking account. There’s no stated minimum deposit for this one, so you can really just open this account immediately with a couple bucks. I personally used $5 to start mine. Again, these accounts have minimums and no fees. You can’t claim this deal if you already have a checking account with them (including an Electric Orange account). Luckily, I don’t so I’ve already claimed this deal myself!

 

Chain the Deal to get $200 Free!

There’s no reason you can’t claim both these deals! You can open a 360 Checking account without any minimum, so you can easily just transfer over like a $1. I personally transferred $5. Then you can open a 360 Savings account with a $500 deposit from another checking account. Wait 5 days for that deposit to clear, transfer it over to the 360 Checking and make 5 small purchases using their debit card and that $500.

Or if you don’t want to spend any of it, there’s no reason you can just use their app to make 5 small deposits to the 360 Checking account using the same checking account/checkbook you used to open your 360 Savings account. After the 5 days for the $500 deposit to 360 Savings clears, transfer that back to your original checking account you used to fund it. Then wait a couple business days for it to clear, write yourself 5 small paper checks and use their app to deposit them to your 360 Checking account. Wait for them to clear and transfer them back to the original account again. You’ll earn $200 just for moving your money around a few times.

 

4 thoughts on “How to Get Free Money: $200+ Cash to Open Capital One 360 Accounts

    • I was in the same boat, so I can get the $125 checking bonus. But they’re also running a referral bonus – if you can get two friends/family to sign up with your referral link you can get $100.
      I used that to open both accounts for my wife and talked my Dad into opening both as well. You may want to look into doing that since you had a savings account. Log in and look for a “Refer a Friend” link. I’ve also heard of people opening accounts for their children to get the bonuses!

  1. Great points here, I have a capital one visa, maybe I need to look into changing to the 360, wonder if I would be eligible for the bonuses? Thanks for the insight!

    • As far as I know you ought to be eligible for both bonuses. The bonuses don’t apply only if you already have a savings or checking account with Capital One 360 (or one of the alternate checking/savings accounts ING used to offer: Electric Orange or Orange Savings).
      Capital One credit card accounts are separate. My wife has one, but we were eligible to open these accounts for her.

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