If you run a business, even a side business, Capital One will pay you $500 to open a new business checking account with promo code SBOFFER500. You deposit $5,000, keep it there for 60 days, and make 10 qualifying transactions.
Offer details verified October 26, 2026. Capital One has not published an end date, and promotions change often, so confirm the current terms on Capital One’s site before you apply. See our Advertiser Disclosure for how we work with partners.
See Capital One Business Checking
Capital One $500 business bonus at a glance
| Detail | What you need to know |
|---|---|
| Bonus | $500 |
| Accounts | Basic or Enhanced Business Checking |
| Promo code | SBOFFER500 (online applications only) |
| Deposit | $5,000 within 30 days, kept for 60 days |
| Activity | 10 qualifying transactions |
| Payout | 60 to 90 days after you meet the requirements |
How to earn the $500 bonus
- Apply online for a new Basic or Enhanced Business Checking account and enter promo code SBOFFER500. The code only works on online applications.
- Deposit $5,000 within 30 days of opening the account.
- Keep the balance for 60 days. Maintain the required balance for at least 60 days during the first 90 days.
- Make 10 qualifying transactions, such as remote check deposits or ACH transfers.
Who qualifies
Only one account per business can earn the bonus. You are not eligible if you are a user on a Capital One business checking account opened in the last 365 days, and every application is subject to approval.
Note that the older $1,000 Capital One business checking offer expired on October 31, 2025. The $500 offer is the current one.
Is it worth it?
Tying up $5,000 for about two months to earn $500 is an excellent return. The 10 transactions are easy to hit if you pay a few business bills from the account. Freelancers and side hustlers with a real business activity can often qualify as sole proprietors.
Tips for the Capital One bonus
- Enter SBOFFER500 on the online application, since branch and phone openings will not get the code.
- Fund the full $5,000 early and leave it untouched for the 60-day window.
- Spread your 10 transactions over a few weeks and keep a simple log.
- Choose Basic Business Checking if you want to avoid higher monthly fee requirements.
What the Bonus Is Really Worth
The headline number is not the whole story. To judge any bank bonus, compare it with what your money would earn elsewhere and with any fees you might pay along the way.
Here the real cost is the interest you give up on the $5,000 while it sits in checking. At a savings rate around 4% APY, $5,000 would earn roughly $50 over three months, so the $500 bonus is worth about ten times what the same money would earn in a high-yield savings account.
As a rule of thumb, a checking bonus is worth chasing when it pays several times more than the same money would earn in a high-yield savings account over the qualifying period, and when you can avoid every monthly fee. Read the fee schedule before you apply, so a $15 monthly charge does not quietly eat into your return.
Step-by-Step Timeline
Bank bonuses are won or lost on dates. Here is the order of events for the Capital One offer, so you can put reminders in your calendar before you apply.
- Day 1: Open a new Basic or Enhanced Business Checking account online with promo code SBOFFER500.
- Within 30 days: Deposit at least $5,000 from non-Capital One accounts.
- Next 60 days: Keep that balance in the account, and make at least 10 qualifying transactions within 90 days of opening.
- After that: Capital One deposits the $500 into your new account once all steps are complete.
Set a reminder a week before each deadline. Most missed bonuses come down to a deposit landing a few days late, not to anything complicated.
How This Offer Compares With Other Bank Bonuses
Here is how the Capital One bonus stacks up against the other bank sign-up offers we are tracking. If you can only route your paycheck to one or two accounts at a time, start with the offers that pay the most for the direct deposit you have.
| Offer | Bonus | Main requirement | Open by |
|---|---|---|---|
| Chase Total Checking | Up to $900 | Direct deposit | January 27, 2027 |
| Bank of America | Up to $500 | Direct deposit | Check current terms |
| BMO | Up to $600 | $1,000 in monthly direct deposits | December 15, 2026 |
| U.S. Bank Smartly | Up to $450 | Direct deposit within 90 days | November 10, 2026 |
| PNC Virtual Wallet | Up to $400 | Direct deposit within 60 days | January 7, 2027 |
| Capital One Business (this offer) | $500 | $5,000 deposit held 60 days, 10 transactions | Limited time |
| Amex Business Checking | 35,000 Membership Rewards points | $5,000 deposit, no direct deposit | Check current terms |
| Capital One 360 Performance Savings | Up to $1,500 | New savings balance, no direct deposit | Check current terms |
You can work on more than one bonus at a time. Many employers let you split direct deposit across several accounts, which lets you meet two requirements with the same paycheck. Offers that only need a deposit or a balance, rather than direct deposit, are the easiest to stack on top.
Common Reasons People Miss the Bonus
- The deposit does not count. Transfers from your own accounts at other banks often do not qualify as direct deposit. Use payroll or another source the terms clearly accept.
- The account was opened the wrong way. Bonuses usually require the promotional link or promo code. Opening the account another way can make you ineligible.
- You were not a new customer. Most offers exclude anyone who had that bank account recently or earned a bonus from the bank before. Check the lookback period in the terms.
- The account was closed too early. Many banks reclaim the bonus if you close the account within a set period after opening. Keep it open until that window passes.
Frequently Asked Questions
Are bank bonuses taxable? Generally, yes. Banks usually report sign-up bonuses as interest income, often on Form 1099-INT, so plan for the tax when you compare offers. A tax professional can tell you how it applies to your situation.
Will opening a checking account hurt my credit score? Many banks check your banking history through ChexSystems rather than running a hard credit inquiry, but practices vary. The account terms or the bank can confirm what happens when you apply.
Can I close the account after I get the bonus? You can, but wait until any early-closure period in the terms has passed, and switch your direct deposit back before you close it.
Do I need a formal business to apply? Capital One asks for details about your business during the application. Sole proprietors and side businesses may be able to open an account, but approval is up to the bank, so have your business name, type and tax information ready before you start.
How long does the bonus take to arrive? It depends on the bank, but it usually posts after the qualifying period ends, not the moment you complete the requirements. Keep your account in good standing until you see it.
More bank bonuses
- Chase Checking Bonus: Earn Up to $900 With Direct Deposit
- U.S. Bank Smartly Checking Bonus: Earn Up to $450 (Through November 10, 2026)
- BMO Checking Bonus: Earn Up to $600 With Direct Deposit
- PNC Virtual Wallet Bonus: Earn Up to $400 With Direct Deposit
- All bank sign-up bonuses
Takeaway
Capital One’s $500 business checking bonus asks for a $5,000 deposit, a 60-day hold and 10 transactions, and it pays within 60 to 90 days. If you have business income, open online with promo code SBOFFER500 and treat it as an easy 10 percent return on parked cash.
