In case you didn’t already know, Wells Fargo has sold 52 branches to Flagstar in the Midwest. A number of readers that signed up for Wells Fargo checking bonuses have been asking what would happen to their bonuses with this acquisition with some even being told that the bonus would be void due to the acquisition. Thankfully that’s not the case, Wells Fargo had the following statement to make:
Wells Fargo developed a diligent process to ensure customers enrolled in promotional offers would not be impacted by the divestiture. Payments to qualifying customers will be made prior to any conversion.Â
Can also confirm bonus posted today, after only 2x $500 DD (account open since 9/20, real employer DD on 10/31, 11/16).
Bonus posted today! (deposit 500 x 3 months for $200) Even without a deposit hitting for the third statement which has yet to begin. Would have expected this Dec 22 otherwise. Diligent process indeed.
So the Wells Fargo account I opened online is going to stay Wells Fargo. My husband’s Wells Fargo was opened in branch in OH/IN therefore his accounts are part of those being transferred. He will be closing his accounts in a few days.
Be careful about Flagstar. I signed up for the $250 bonus earlier this year and haven’t yet received the bonus.
What about Wells Fargo ATM withdrawals in those states? Will WF retain standalone ATMs (not related to “branches”), or will they waive “out of network” fees for WF customers who now have to withdraw at Flagstar when traveling to those states?
Not sure sorry.
Impacted, so this is good news! I’ve actually had the hardest time getting anything close to that statement through SM. Is there a source here?
Yeah, we contacted Wells Fargo press relations directly.
Why did they keep Wisconsin? I was looking for an excuse to close my accounts.
Close them anyway and open new ones the next time you qualify for a bonus.
I wonder if this is the start of a new trend: large nationwide banks selling off less profitable branches.
I closed my Wells Fargo account two months ago when I first heard about this, and I still got an email from Flagstar today saying they had mailed me a new debit card. Ugh. Also a Michigan resident.
I live in Michigan and affected. Does Flagstar ever offer sign up bonuses for new accounts? I’m thinking of closing my WF account before 11/30 and waiting for a Flagstar bonus to come along. If I’m converted I don’t think I’d be eligible for whatever bonus that might come out in the future.
On the deals calendar, but supposedly dead.
https://www.doctorofcredit.com/mi-only-flagstar-bank-250-checking-bonus-direct-deposit-optional/
They have in the past both personal and business. Sometimes targeted with mailers.
I got a mailer in Michigan this past April to open a new checking account for $250.
Cool thanks. I think the smart play would be to close my WF personal checking account at my local branch before it converts over to Flagstar. What do you think?
That sounds reasonable, but it may depend on whether they use Chex.