Deal has expired, view the best current checking bonuses by clicking here.
Offer at a glance
- Maximum bonus amount: $200 checking & $200 savings
- Availability: Targeted, unique code required and must open in branch
- Direct deposit required: Yes, $500+ for three consecutive months
- Additional requirements: See below
- Hard/soft pull: Mixed reports, likely doesn’t pull
- ChexSystems: Unknown
- Credit card funding: Can fund up to $50 online. I’m guessing none in branch
- Monthly fees: $10, avoidable
- Early account termination fee: None
- Household limit: None
- Expiration date: August 31st, 2018
Contents
The Offer
No direct link, sent out via snail mail and contains unique code
- Wells Fargo is offering bonuses of up to $400 for opening checking & savings accounts. Bonuses are as follows:
- $200 checking bonus:
- Within 150 days set up and receive at least 3 consecutive monthly direct deposits of $500 or more
- $200 savings bonus:
- Open an eligible savings account and within 10 days deposit at least $25,000 in new money
- Maintain that balance for 90 days
- $200 checking bonus:
The Fine Print
- Unique offer code required
- Valid until August 31st, 2018
- Must open in branch
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly 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
We’ve seen better checking bonuses before that didn’t require a direct deposit. I don’t think we’ve ever seen a Wells Fargo savings bonus before at least as far as I know. $200 for a deposit of $25,000 that must be maintained for 90 days isn’t great, you’d earn almost $125 in a 2% APY savings account during that period. The Wells Fargo account basically earns 0% so it’s actually not a huge bonus. It is interesting to see them start offering a savings bonus though, hopefully the bonus gets bigger before a public offer becomes available. For bonuses we do recommend check out this page.
Big thanks to reader, Kevin D who let us know. Learn how to find bonuses and contribute to the site here.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- 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?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
