Consumer complaint received 2025-11-08 00:00:00
Product: Checking or savings account — Checking account
Issue: Opening an account — Confusing or missing disclosures
Company: CAPITAL ONE FINANCIAL CORPORATION
State: LA

Complaint narrative:
Capital One reserves the right to end or change the terms of this offer at any time prior to you accepting the offer, with or without notice. Changing the terms of this offer could result in a change to any of the offer requirements such as, but not limited to, the required deposit amounts, qualified external deposit sources, the bonus amounts or expiration date. Please note that once your account is opened with a promotional code, the terms of the offer will not change without us notifying you in advance. Offers may vary. 

If you have or had an open 360 Checking, XXXX XXXX XXXX XXXX XXXX XXXX account as a primary or secondary account holder with Capital One on or after XX/XX/XXXX, you will be ineligible for the bonus. If your account is in default, closed or suspended, or otherwise not in good standing before you receive the bonus, you will not receive the bonus. No minimum balance is required to be maintained in order to receive this bonus. 

Heres the full scoop on how to earn your {$250.00} bonus : Open a 360 Checking account on or after XX/XX/XXXX, using promotional code XXXX. 
Set up and receive at least 2 Qualifying Direct Deposits each of {$500.00} or more to your 360 Checking account within 75 days of account opening.

Capital One will deposit the bonus into your account after the first two requirements listed above are completed. See below for when the bonus will be posted. 
What is a Qualifying Direct Deposit? 

A Qualifying Direct Deposit is a regular periodic payment, such as salary, pension, government payments ( for example, Social Security ), or other monthly income that occurs as an Automated Clearing House ( ACH ) or Real-Time Payment network credit from your employer or an outside entity not affiliated with Capital One prior to XXXX XXXX, XXXX. 

Wire transfers, ACH credits, and funds transfers initiated using Capital One 's website or mobile app are not considered a Qualifying Direct Deposit. 

When will I get my bonus? 

You have 75 days to complete the requirements above. After the first 75 days from account opening, your status to receive the bonus will be assessed and processed, which can take up to 60 days. This means, if all requirements are met, you can expect your bonus to be deposited into your account within 135 days from account opening. To receive your bonus, your account must also be open and in good standing at the time the bonus will be deposited.

Step 1 Open account using promo code CHECKING250 Step 2 Direct deposit requirement period ( 75 days ) Step 3 Bonus payout period ( 60 days ) This account is subject to approval. This offer can not be combined with any other 360 Checking account opening offers. Only one promotional code is accepted per account. Bonus is only valid for one new 360 Checking account. The amount of your bonus will be reported on IRS form 1099-INT to the IRS ( and your state revenue authority , if required ). 

What you need to know about the 360 Checking account : A rate of 0.10 % Annual Percentage Yield ( APY ) applies to accounts with balances between XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX {$99000.00}, and {$100000.00} or more. 360 Checking is a tiered-rate account. Advertised rates are variable and effective as of XX/XX/XXXX. Rates in any tier are subject to change at any time before or after account opening. 

Compounding and crediting - Interest on your account will be compounded and credited on a monthly basis. Your account will only receive an interest posting if the amount earned during the month rounds to at least {$0.00}. 

The 360 Checking account has no monthly cycle service charge and no minimum balance required to open or maintain the account. 

No-Fee Overdraft authorizes us to consider paying your checks, ACH and recurring debit transactions that put your account into overdraft. You also have the option to ask us to consider paying your everyday debit card and ATM transactions as well. In making a payment decision, we typically consider a variety of factors, including the size of the transaction, whether your account is in good standing and/or if you have had too many overdrafts. If we elect to pay an overdraft item, you have no right to defer payment and you must deposit additional funds into your account promptly in an amount sufficient to cover the overdraft. To qualify for No-Fee Overdraft, you must regularly deposit at least {$250.00} during two of the previous three calendar months. Accounts that haven't met this will no longer have access to overdraft until the next month when you've met this requirement. New accounts will not have access to No-Fee Overdraft until the consistent deposit requirement has been met.

Early paycheck is available for 360 Checking customers that set up direct deposit with their employer or other payor to receive electronic deposits of regular periodic payments ( such as salary, pension, or government benefits ). Certain non-payroll and tax payments are not eligible for early paycheck. Early direct deposits may be available to you up to 2 days earlier, however, we are dependent on the timing of your payors payment instructions and therefore you may not always see your direct deposits arrive early. Early paycheck eligibility may vary between pay periods and daily/transaction limits apply.

It may take two cycles for your direct deposits to take effect.

Web access is needed to use mobile banking and the mobile app. Check with your service provider for details on specific fees and charges. Routine or unscheduled maintenance may impact accessibility. ''

Company response to consumer: Closed with explanation