CODE RC3 for $300 bonus
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 doyour rewards pile up automatically
Choose from cash, travel and merchandise.
Transfer rewards to other Capital One accounts, including business, friends and family
Well 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.

Some info. RC3 may be targeted [as may be RD2, needing to be a cc customer as suggested above] and only valid for branch. If you're out of their footprint you won't be able to open even via that phone number, and the promo code won't be valid online. Or so I was told. Note that the rep at the direct banking phone num [1-800-562-1340], different from the retail branch phone num above, told me that those codes were not valid online even though the retail rep said that I'd need to open online w/ those codes.

So, since some of us are in, some out of footprint, some have some don't have cc rel'p w/ them we can expect varying reports of success, seems to me.

The thing is the online app will accept the promo code w/o rejecting it, so it's a little murky.

If you have travel to any of these states by 11/30, you might have some luck if you care to make a branch visit.