Wells Fargo $300 Checking Bonus – Available Online

Another update 2/28/23: The better $325 deal is available now

Update 2/28/23: Deal is back and valid until March 28, 2023. Not as good as the recent $325 offer, but very comparable.

Update 4/5/22: Deal is back and valid until July 15, 2022. Hat tip to reader Azure

Offer at a glance

Maximum bonus amount: $300
Availability: Nationwide
Direct deposit required: Yes, $1,000+
Additional requirements: None
Hard/soft pull: Soft
ChexSystems: Mixed reports, likely doesn’t pull
Credit card funding: None
Monthly fees: $10, avoidable
Early account termination fee: None, don’t close account straight away please
Household limit: None
Expiration date: ~~March 31, 2022~~ July 15, 2022

Contents

1 The Offer
2 The Fine Print
3 Avoiding Fees
- 3.1 Monthly Fees
- 3.2 Early Account Termination Fee
4 Our Verdict

The Offer

Direct link to offer

Wells Fargo is offering a $300 bonus when you open a new Everyday Checking account and complete the following requirements:
- Receive a total of $1,000 or more in qualifying direct deposits to the new checking account within 90 calendar days from account opening (the qualification period)

The Fine Print

Eligibility Requirements:
- This offer is for new checking customers only. All Wells Fargo consumer checking accounts are eligible for this offer with the exception of checking accounts offered by Wells Fargo Private Bank.
- You must use your bonus offer code at account opening when you apply for a new eligible Wells Fargo checking account.
- You are not eligible for this offer if:
  - You are a current owner of a Wells Fargo consumer checking account
  - You have received a bonus for opening a Wells Fargo consumer checking account within the past 12 months
  - You are a Wells Fargo employee
Bonus Requirements:
1. Open a new Wells Fargo consumer checking account with a minimum opening deposit of $25 by March 31, 2022. All account applications are subject to approval.
2. Within 90 calendar days of account opening (the “qualification period”), receive a total of $1,000 or more in qualifying direct deposits to your new checking account.
  - A qualifying direct deposit is an ACH (Automated Clearing House) automatic electronic deposit of your salary, pension, Social Security, or other regular income into your bank account. Confirm with your employer or the agency or company making these payments that they use the ACH network.
  - Transfers from one account to another, mobile deposits, or deposits made at a branch, or ATM don’t qualify as a direct deposit.
Bonus Payment:
- Once the 90-day qualification period has elapsed, we will determine if you have met the offer requirements, and will deposit any earned bonus into your new checking account within 30 days.
- The new checking account must remain open throughout the 90-day qualification period and at the time we attempt to deposit any earned bonus payment. Please note that an account with a zero balance may be closed by us without prior notice, as further described in the Deposit Account Agreement.
- You are responsible for any federal, state, or local taxes due on the bonus and we will report as income to the tax authorities if required by applicable law. Consult your tax advisor.
Additional Terms and Conditions:
- Offer expires March 31, 2022. However, offer may be discontinued or changed at any time prior to the expiration date without notice.
- Offer cannot be:
  - Paid without a valid U.S. Taxpayer Identification Number (Form W-9 for U.S. persons including a resident alien). Non-resident aliens, signing Form W-8 are not eligible for the offer.
  - Combined with any other consumer deposit offer (limit one bonus per customer/account).
  - Reproduced, purchased, sold, transferred, or traded.
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them