Greenhouse By Wells Fargo $50 Bonus (Mobile Banking Platform, iOS only)

Offer at a glance

• Maximum bonus amount: $50
• Availability: Select areas & iOS only
• Direct deposit required: No
• Additional requirements: Five qualifying transactions
• Hard/soft pull: Unknown (most likely soft)
• ChexSystems: Unknown
• Credit card funding: Up to $50
• Monthly fees: None
• Early account termination fee: None found
• Household limit: None listed
• Expiration date: None listed

The Offer

Direct link to offer

• Greenhouse by Wells Fargo is a mobile banking platform (similar to Finn by Chase). They are offering a bonus of $50 to selected participants. You must register your interest and then if chosen you receive a bonus of $50 if you complete the following requirements:
  • Download and apply. Download the app and apply for the two Greenhouse accounts with a minimum opening deposit of $25. Accounts are subject to approval.
  • Complete these tasks. Within 60 days of account opening, complete a total of 7 qualified transactions and complete a survey. Qualified transactions are:
    • Greenhouse debit card transaction of at least $5
    • Zelle® transaction from the Greenhouse app of at least $5
    • Bill Pay transaction from the Greenhouse app of at least $25
  • Enjoy your bonus. Your bonus will be deposited into your new Set Aside Account within 45 days after all requirements are met.

The Fine Print

• Bonus Eligibility
  • Account opening requires approval of your account application.
  • Your U.S. ZIP code must be part of our limited regional rollout.
  • You cannot be:
    • a current owner on a Wells Fargo consumer checking account
    • a Wells Fargo team member
    • a recipient of a consumer checking bonus in the past 12 months (limit one bonus per customer)
• Offer cannot be:
  • Paid without a valid U.S. Taxpayer Identification Number (W-9)
  • Reproduced, purchased, sold, transferred, or traded
  • Combined with any other consumer deposit offer
• We will deposit the $50 bonus into your Set Aside Account within 45 days after eligibility and qualifications have been met.
• The Set Aside Account must remain open in order to receive the bonus payment.
• You are responsible for any federal, state, or local taxes due on this bonus payment. We will report the payment as income to the tax authorities if required by applicable law. If you have questions, please consult a tax advisor.

Avoiding Fees

Monthly Fees

These accounts have no monthly fees during the beta period

Early Account Termination Fee

I didn’t see mention of an early account termination fee in the fee schedule.

Our Verdict

This bonus isn’t worth considering for several reasons:

• It’s only for $50, previously they offered $150
• Signing up and receiving this bonus will make you ineligible for other Wells Fargo bonuses. Currently you can get a $250 checking bonus instead.

Normally we don’t even post bank bonuses under $100 because they are simply a waste of time after you consider you have to pay taxes as well. I’m not sure if Wells Fargo has been heavily advertising this or something, but readers keep asking about it so here you go. In my opinion this offer is trash, don’t do this offer. For a list of offers we do recommend, click here.

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• A Beginners Guide To Bank Account Bonuses
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• PSA: Don’t Call The Bank
• Introduction To ChexSystems
• Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
• What Banks & Credit Unions Do/Don’t Pull ChexSystems?
• How To Use Our Direct Deposit Page For Bank Bonuses Page
• Common Bank Bonus Misconceptions + Why You Should Give Them A Go
• How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
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