Posted by William Charles on July 8, 2019
Bank Account Bonuses

Published on July 8th, 2019 | by William Charles


[In Branch Only, Some States Excluded] Wells Fargo $500 Business Checking Bonus

Offer at a glance

  • Maximum bonus amount: $500
  • Offer excluded in the following states: Hawaii, Kentucky, Louisiana, Maine, Massachusetts, Missouri, New Hampshire, Oklahoma, Rhode Island, Vermont, and West Virginia. Account must be opened in branch. [Branch locator]
  • Direct deposit required: No
  • Additional requirements: See below
  • Hard/soft pull: Soft
  • ChexSystems: Mixed reports
  • Credit card funding: None available in branch
  • Monthly fees: $14, avoidable
  • Early account termination fee: None
  • Household limit: None listed
  • Expiration date: August 30th, 2019

The Offer

Direct link to offer

  • Wells Fargo is offering a bonus of $500 when you open a new Business checking account and complete the following requirements:
      • E-mail yourself coupon and use that to open account in branch with at least $25
      • Have a $15,000 minimum balance in your account on Day 30 & 90, and
      • Make 5 or more qualifying transactions that have posted to the new business checking account by Day 90.

The Fine Print

  • Eligibility:

    • Unique bonus offer code can only be used once.
    • Provide one-time-use, unique bonus offer code to banker at account opening.
    • Offer excluded in the following states: Hawaii, Kentucky, Louisiana, Maine, Massachusetts, Michigan, Missouri, New Hampshire, Indiana, Ohio, Oklahoma, Rhode Island, Vermont, and West Virginia.
  • You cannot be:

    • A current owner of a Wells Fargo business checking account.
    • A Wells Fargo team member.
    • The recipient of a business checking cash bonus offer in the past 12 months.
  • Bonus Qualifications:

    • Open a new eligible business checking account in a Wells Fargo branch by August 30, 2019.
    • Fund the new business checking account with a minimum opening deposit of $25.
    • Have a $15,000 minimum balance in your new business checking account on Day 30 and on Day 90 of account opening, and
    • Have 5 or more posted qualifying transactions to the same account by Day 90:
      • Debit card purchases or payments of bills*
      • ACH (Automated Clearing House) credits and debits
      • Checks paid from your new account (deposited and cashed)
      • Mobile deposits**
      • Wires (credits and debits)
      • Wells Fargo Business Bill Pay
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Business choice checking is the easiest account to keep fee free. It has a $14 monthly fee that is waived if you do one of the following each fee period:

  • Maintain a $7,500 average ledger balance OR
  • $10,000 in combined balances (business checking, savings, CDs and credit) or
  • 10 or more posted business debit card purchases

Early Account Termination Fee

There is no early account termination fee.

Our Verdict

We saw a similar $500 offer last year, but the account was much easier to keep fee free and it only required a deposit of $2,000 instead of $15,000. There is also currently a $1,000 offer, that requires $25,000 in funds though. Personally I’d stick to the $1,000 offer if you have $25,000 in funds you can use. Otherwise I guess this is your best option, but it is frustrating for people who missed out on the better deal. I’ll still be adding this to the best checking bonuses page but not as high as normally would be.

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In the post it says day 30 and 60 for the 15k balance but the offer seems to say 30 and 90.


This feels like a mini version of the $1000 bonus, but it’s interesting that you generate your own code and bring it in.

BTW the post mentions “Within 10 days of opening your account, deposit $15,000 or more into the new business checking account” but I don’t think I’m seeing that in the offer in the link. I think $15,000 just needs to be in by Day 30?


It seems that “within 10 days” is wrong. William – can you confirm it?


William Charles , Post says in one place “Within 10 days of opening your account, deposit $15,000 or more into the new business checking account, and…” But the offer I had emailed to myself and used doesn’t mention this requirement anywhere. Remove?


Additional datapoint. While opening the account today I was told I was preapproved for the Business Platinum card for $500 after $3000 in spend. Preapproval is valid until 9/24 but it has to be opened in branch.

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