Update: There is a new offer with targeted language, found here.
Deal has unfortunately expired. You can view the best checking bonuses by clicking here.
Offer at a glance
- Maximum bonus amount: $250
- Availability: Nationwide
- Direct deposit required: No
- Additional requirements: 10 debit card transactions
- Hard/soft pull: Soft
- Chexsystems: Mixed reports
- Credit card funding: Can fund up to $50 online
- Monthly fees: $10, waivable
- Early account termination fee: None
- Household limit: None listed
- Expiration Date:
February 17th, 2017March 3rd, 2017March 24th, 2017.
Contents
The Offer
- Open a new Wells Fargo Everyday Checking account with a minimum deposit of $25 and receive a bonus of $250 when you do the following:
- Make 10 debit card purchases/payments [Read: How To Meet Minimum Debit & Credit Transaction Requirements]
The Fine Print
- Eligibility:
- All consumer checking accounts, including non-interest-earning checking accounts (except Teen CheckingSM) are eligible for the bonus of $250. The prepaid Wells Fargo EasyPay® Card is not eligible.
- 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 1 bonus per customer)
- Bonus Qualifications:
- Open a new, eligible consumer checking account with a minimum opening deposit of $25 (not including the bonus) by
February 17, 2017March 3rd, 2017March 24th, 2017 - Within 60 days of account opening, either make 10 purchases/payments with your Wells Fargo Debit Card or establish a qualifying Direct Deposit of an accumulated $500 or more to the consumer checking account opened for this bonus offer.
- The 10 debit card purchases/payments must be from the primary linked consumer checking account opened for this offer.
- A qualifying Direct Deposit is your salary, pension, Social Security, or other regular recurring monthly income, electronically deposited to your consumer checking account by your employer or an outside agency. Transfers from one account to another or deposits made at a banking location or ATM do not qualify as a Direct Deposit.
Offer available in all Wells Fargo branches or online at wellsfargo.com/250offer.- Offer cannot be:
- Paid without a valid U.S. taxpayer ID
- Combined with any other consumer deposit offer
- Reproduced, purchased, sold, transferred, or traded
Bonus Payment:
- We will deposit the bonus into your new consumer checking account within 45 days after eligibility and qualifications have been met.
- You are responsible for any federal, state, or local taxes due on your bonus and we will report as income to the tax authorities if required by applicable law. Consult your tax advisor.
- Open a new, eligible consumer checking account with a minimum opening deposit of $25 (not including the bonus) by
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.
Updates
Update 4: New offer doesn’t contain the targeted language, but it is now online only and valid until March 24th, 2017.
Update 3: Another DP of somebody getting the bonus without being targeted after the new language was added. Because of that we’ve removed the targeted portion of the title. As always YMMV.
Update 2: This DP shows somebody getting the bonus without being targeted. They did apply in branch.
Update: Wells Fargo have made additional changes to the fine print on this offer, it now says:
This is an exclusive, nontransferable offer, available to those who received our direct mail or e-mail offer.
Previously it didn’t include the ‘available to those who received our direct mail or e-mail offer’. I believe this was added sometime on January 31st, but it might have been added sooner. Looks like they might be enforcing the targeted nature of this promo again.
We are reposting this because multiple readers have reported getting the bonus without being targeted, because of that I now think this offer should be open to everybody but YMMV. We first posted this on January 5th.
Our Verdict
This is easily the best bank account bonus currently available, it’s extremely easy to trigger the bonus with only 10 debit card transactions required (read this post to get some ideas) and it’s not particularly difficult to keep the account fee free either. The fact that you can open it online makes it all the sweeter.
Previously the best Wells Fargo checking offer we’ve seen is $150, normally $100 is standard. Looks like they are getting desperate for new account openings after their recent scandal.
Big thanks to reader Max for sending this through.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- 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
Datapoint: Successfully funded my Wells Fargo checking ($50) w/ Chase Freedom Unlimited.
does paypal transfer still account as DD for WF?
Anyone get a 1099-int for this bonus? I think its the last Bank bonus I’m waiting for.
I already did my return without waiting for the form. If you know how much you received, you don’t really need the form. The tax software just asks for the Bank’s name and interest (bonus) received. Now waiting for my tax refund 🙂
This is what I got in response to the 1099 question ( I messaged them)
I understand you would like to know whether you will receive a 1099
statement for the account that has been closed.
I reviewed your checking account number ending in xxxx and our records
show that it is a non-interest bearing account.
1099 statements are mailed to the primary owner on the account no later
than January 31st each year for accounts earning $10.00 or more in the
previous year. As your account does not bear interest, a 1099 statement
will not be sent for your closed account.
Is it safe to close after 3 months?
Anyone figure out how to trigger DD for Chase ?
Does anyone recently received their bonus? Or do you have customer service confirmed if you met the qualification?
I opened acc on March 28th and I completed D/D and debit card transactions by April 25th.
I emailed their customer service just to know if they can confirm the qualifications have been met before I start the wait game but I received generic reply and no confirmation.
Great post.
Some popular banks do automated real-time verification through CashEdge by Fiserv.
You stole my comment?
I see some folks getting their bonus within 2 days of meeting requirements. Mine has been several weeks since I opened and made the debit card purchases. So, I emailed WF and asked them when I can expect my bonus. They are saying I need to fill out a W-9 form. Has anybody else had to do this? Here is their email reply:
According to our records, we went ahead and checked your account and it
looks like you opened your account on 03/31/2017. Since you are still
in the 60 day window you still have a lot of time. Within 60 days of the
account opening, either make 10 purchases or payments with your Wells
Fargo Debit Card or establish a qualifying Direct Deposit of an
accumulated $500 or more, to the consumer checking account opened for
this bonus offer. In order to obtain the $250 bonus offer, it takes 45
days for the $250 bonus to credit your account.
We appreciate your patience while we researched this matter. I was
contacted today by our Promotions Team regarding your missing incentive,
and wanted to provide you with the information that was given to me.
Due to IRS tax reporting rules, Wells Fargo cannot pay a promotional
bonus to a customer without a certified tax ID number (W-9) or a
completed W-8BEN explaining a missing tax ID number if they are a
non-resident alien. A certified W-9 or W-8BEN has not been processed and
your account does not show an updated withhold code. Even though your
account may have a Social Security Number on file, the checking account
must still be certified.
This is required before your account can be paid the bonus. As a result,
to help you correct this issue, I have mailed you an Internal Revenue
Service (IRS) Form W-9 Request for Taxpayer Identification Number and
Certification. The form was sent to the address we have on file for your
account by U.S. Mail, and should arrive within 10 business days.
Please return the completed, signed form, in the stamped, pre-addressed
envelope that is enclosed with the form for your convenience.
You may also find this form online at
wellsfargo.com/com/securities/regulatory/securities-tax-forms . Once the
form has been completed online, please print it, sign it, and mail it to
the following address:
Wells Fargo Bank
P.O. Box 5110
Sioux Falls, SD 57117
I also did the 10 transactions and still haven’t recd a bonus. It’s only been about 3 days since I completed the transactions though.
I was also sent the W-9 form to fill out inside of the welcome packet, so perhaps that’s what’s holding it up. I just sent the form back to them last week.
Mine has been several weeks too. I completed the debit requirements on 4/13. No bonus posted as yet. But they have 45 days. Plus, they did a hard pull on one of the credit reports – I believe Equifax if my memory serves – and I neither applied for credit nor accepted Overdraft Protection (which banks use to access your Credit Reports.) It didn’t help that I had to go through CFPB to complete the process.
My bonus was posted on May1. But it would not have happened without the complaint process through CFPB.
I have the same issue and I complain via message center.
Here is the answer I got :
Mr., as detailed in our previous reply, our records indicate
that this offer was only valid for customers’ who received a promotional
code. After further review by all departments involved with promotional
offers, it has been confirmed that you were not included in the pool of
offers extended.
How did you proceed with CFPB?
just so you should no its not an exact month for the $10 charge i believe its 21 bushiness days i called them up and they switched it for me for the end of the month each month