This deal has expired, click here for the best current checking bonuses.
Update 02/06/18: This stopped working after we first posted it, it’s now working again. Keep in mind there is another offer with no direct deposit requirement but only available in select areas. Hat tip to reader Gadget.
Update 01/24/18: Deal is back and valid until March 22nd, 2018. Hat tip to reader YAR
Offer at a glance
- Maximum bonus amount: $200
- Availability: Nationwide, apart from the following states: AA, AE, AP, AS, GU, HI, KY, LA, MA, ME, MI, MP, NH, OK, PR, RI, VI, VT, and WV
- Direct deposit required: Yes
- Additional requirements: None
- Hard/soft pull: Soft
- ChexSystems: Mixed reports, likely doesn’t pull
- Credit card funding: Can fund up to $50 online
- Monthly fees: $10, waivable
- Early account termination fee: None
- Household limit: None
- Expiration date:
December 7, 2017March 22nd, 2018
Contents
The Offer
- Receive a sign up bonus of $200 when you open a new Everyday checking account with Wells Fago and have $500 direct deposited into the account for three consecutive months within 150 days of account opening
Eligibility
Enter your zip code to check eligibility. I checked around the country and it seems to be working everywhere.
The Fine Print
- Not eligible for bonus if you are: 1) a current owner on a Wells Fargo consumer checking account; 2) a Wells Fargo team member; 3) a recipient of a consumer checking bonus in the past 12 months (limit 1 bonus per customer)
- Online only
- Initial deposit of $25 required during account opening
- A qualifying direct deposit: Your salary, pension, Social Security, or other regular monthly income, electronically deposited (by an employer, the government or an outside agency) to the account opened for this offer. A non-qualifying deposit: Transfers from one account to another, deposits made at a branch or ATM, and deposits from payments for the sale of goods or services.
- Offer cannot be paid without providing a valid (W-9) and U.S. taxpayer ID number
- Offer can not be combined with any other consumer deposit offer
- Bonus will post to your new checking account within 45 days after eligibility and qualifications have been met
- Offer available on wellsfargo.com only and not available in AA, AE, AP, AS, GU, HI, KY, LA, MA, ME, MI, MP, NH, OK, PR, RI, VI, VT, and WV.
- You are responsible for any federal, state, or local taxes due on your bonus and we will report as income to the tax authorities as required
Avoiding Fees
Monthly Fee
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
I suspect most people will be ineligible for this deal due to doing other bonuses last year (none of these are valid anymore):
- The one discussed in this post; $200 bonus with 3 x $500 direct deposit requirement
- There’s a $300 offer in select areas; that one is similar to the one outlined in this post, though the direct deposit requirement is $1,500 instead of $500
- There’s a $200 offer in select areas; that one doesn’t have a direct deposit requirement, just an easy debit card usage requirement
This deal isn’t as good as those as it has the direct deposit requirement and it isn’t for $300, but it’s still a pretty good deal. We’ll add this to our list of Best Bank Bonuses.
Hat tip to reader James
