Posted by Chuck on October 7, 2018
Bank Account Bonuses

Published on October 7th, 2018 | by Chuck


[Expired] [AK, DC, ID, MN, NJ, NE, TX, WY] Wells Fargo $500 Checking + Savings Bonus with $25,000 Deposit [YMMV]

Deal has expired, view the best current checking bonuses by clicking here.

Offer at a glance

  • Maximum bonus amount: $500
  • Availability: Must open in-branch in one of the following states: AK, DC, ID, MN, NJ, NE, TX, WY
  • Direct deposit required: Yes, 3 direct deposits of $500 each
  • Additional requirements: $25,000 savings deposit
  • Hard/soft pull: Soft
  • ChexSystems: Mixed reports, likely doesn’t pull
  • Credit card funding: None in branch
  • Monthly fees: $10, waivable 
  • Early account termination fee: None
  • Household limit: None
  • Expiration date: November 16, 2018

The Offer

A reader sent in a Wells Fargo bonus which is showing in a print newspaper:

  • Signup for a new Wells Fargo checking and savings account and get a $500 bonus when you do the following:
    • Within 150 days, receive 3 consecutive monthly qualifying direct deposits of $500 or higher.
    • Within 10 days of opening the savings account, deposit $25,000 in new money into either the new checking account or the new savings account and maintain that balance for 90 days.

A valid bonus offer code will be provided to each customer while meeting with a banker.

The Fine Print

  • All consumer checking accounts are eligible for this offer.
  • $25 minimum opening deposit for the checking account, and another $25 opening deposit for the savings account.
  • You cannot be a recipient of a consumer checking or savings bonus in the past 12 months (limit one per customer).
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them.
  • $500 will be deposited within 45 days of when requirements have been met. Checking account must remain open to receive bonus.
  • You are responsible for any taxes due on your bonus.
  • Checking account balance must always remain $1 or higher.

Avoiding Fees

The Everyday Checking account comes with a $10 monthly fee. Get the fee waived with one of the following:

  • 10 debit card purchases and/or payments each statement cycle from this checking account, OR
  • Direct deposits totaling $500 or more each statement cycle, OR
  • Maintain a $1,500 minimum daily balance, OR
  • Link checking account to a Wells Fargo Campus ATM or Campus Debit Card

If you have a Wells mortgage, you might be able to get a higher-level account with no fees.

Early Account Termination Fee

There is no early account termination fee.

Our Verdict

The standard best bonus we see from Wells Fargo is $200 for their checking account, either an online offer or an in-branch offer. Those offers are for checking accounts only while this $500 offer requires a savings account with $25,000 as well.

This is a nice offer, pretty similar to Chase’s $500 offers, though this is slightly harder/worse since it requires a higher deposit ($25k vs $15k) and more direct deposits (3 vs 1). Could make sense if you have $25k lying around. This was put out in a newspaper ad so it should work for anyone, but it’s possible not all bankers will be able to pull it up – maybe try calling in first if you want to save a trip.

I’d probably bite on this one if it were available online, but going in branch and hoping the banker gives me the offer is an extra hurdle. Also, remember that the bonus is not available to those who got a bonus within the past 12 months.

If you’re going into a Wells Fargo branch don’t forget there is a $500 business checking bonus as well and you can also grab the Wells Fargo Business Platinum card for another $500 at the same time. If this bonus is confirmed as broadly available in these select states, we’ll it our best checking sign up bonus page in the specific-states section.

Big thanks to reader JohnnyBoyJr who let us know. Learn how to find bonuses and contribute to the site here.

Useful posts regarding bank bonuses:

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(never mind. I’m dumb)

Great deal!

How do I get this mailer?

It’s not a mailer. It was printed in a page in a newspaper. If you live in one of the eligible states, go to your local branch and inquire on the $500 promotion.
And make sure you tell the the truth: you “saw it in a newspaper” (and not online) 😉

I called two Central NJ branches and inquired about the special that I “saw” in the newspaper. Neither banker has ever heard of this promotion. Both of them needed some additional time to research and 20-30 minutes later both of them said the same thing, that I need to bring the actual newspaper with the ad so they can honor the promotion.Oh well…

I plan on doing this one in November, if I’m able to. The current plan is to bring in the ad.
Bummer — I came across it in the Sunday paper, but it wasn’t in the financial section. I think it was the main or 2nd section. So keep an eye out in your state.

Turned out they had another one in last Sunday’s paper.
The back is a generic ad for some travel company, and doesn’t show any regional info.
Do you want me to mail it to you? Contact me if you do, otherwise I’ll offer it publicly if I don’t hear back by Saturday.
Status: Currently available

mistake sorry

I have a wells fargo checking account now. I believe I earned a sign-on bonus of this checking account agout 7-8 years ago. It seems wells fargo bonus is valid once per lift time. Can I jump for this offer now? Thanks.

If you still have the account open, then no, you won’t be eligible for the bonus. That is why it is recommended you close your account after a while, so you can then become eligible for more bonuses.
And the terms listed above state that you can not have received a bonus in the past 12 months — but it doesn’t say anything about it being a ‘once-in-a-lifetime offer’

just got the $200 bonus 🙁

Just came from local branch in NJ. Mentioned saw offer in the paper. They checked on their computer for offers and then with the manager. They never heard of it. Now what?

Got a mail with $500 bonus. But it is checking account linked to portfolio program. Need to maintain 25k to avoid monthly service charge. Is it worth it.

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