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

Published on October 8th, 2019 | by William Charles


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

Update 10/8/19: Deal is back and valid until November 15th, 2019.  Hat tip to DDG

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 November 15th, 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. Unfortunately most branches are saying that offer is no longer available. Because of that 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 due to that $1,000 offer.

Useful posts regarding bank bonuses:

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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.


I read somewhere that the only way to get that card is if you have a WF business account for year already, or if you open at the same time as opening a business account in branch. Your pre-approval seems to jibe with that

Andrew D
Andrew D

Any WF account for 1 year+ should be sufficient to allow you to apply for the biz CC. I’m pretty sure it doesn’t have to be a biz checking. Preapproval when opening biz checking is a valid alternative option (as Lauren proved).


I opened a biz account last year and within 2 weeks was offered the pre-approval biz plat card. We approved and received the bonus. Actually, the bonus turns out to be about $600 with 1.5% back feature. I ended up making $1000 off Wells. 🙂


For “you cannot be a recipient of a bonus in the past 12 months,” that is based on when you received the bonus, not when you closed the account, correct?


Can i open with a EIN even though i have an active business account as a sole prop using SSN?. ONe of the banker was interpreting the terms as i can’t open.


anyone know if the 15k balance is on hold, would it still count? not sure if it said it had to be an available balance.


New $500 Buzz bonus until EOY.


Is it easy to open the account as a SP? I opened chase business account and it was very easy . No questions asked


To those who go for this and try to avoid the monthly fees, there’s some serious “gotchas” at work: “10 or more posted business debit card purchases”

First, those transactions must POST by the end of the month. (Nope, won’t count if you plainly initiate the transaction on the last day. Must POST by that last day — and the process is entirely capricious. Some transactions will post same day, some next day, some several days later….. Annoying — in spades. WF blames it on “processing times” different for different banks….. Well, duh. So let’s keep it as arbitrary as possible. (unlike competitors like Suntrust who count transactions by date they were initiated.) Bottom line, the Wells Fargo MBA who came up with this policy, says, “gotcha!”)

Second, that last day of the month must be a BUSINESS day…. And unlike Wells Fargo personal checking or most competitors, the computer is hard-wired not to post your transactions over the weekend. (Remember bankers’ hours mentality?)

I’ve initiated debit card transactions on a Thursday — but then the “We’ll Go Far with your Money” computer actually records the transaction (as of Friday) as for Monday — IF — that Monday happens to be the first day of the next month. (I show them my receipts, and the reps don’t give a damn…. they can’t over-ride the computer rules)


(I really loathe doing business with Wells Fargo…. Have one last family account that’s been there for decades — about to be closed….. with gotcha “stuff” much like this on our closure letter.)

In the future, sure, we’ll go for the WF opening bonuses…. but nope, no loyalty. Closure asap. Then we can say,

“Got ’em!”


The link you posted [] has a mid-Nov expiration. This one [] expires end of year.


If u sign up as a SP, can u get both business and personal account bonus?

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