[Expired] Wells Fargo $100 Checking Bonus, Publicly Available

Offer at a glance

• Maximum bonus amount: $100
• Availability: Nationwide (some areas may be restricted, enter your zip code to find out)
• Direct deposit required: Optional, must be $500+ if chosen (see what counts here)
• Additional requirements: 10 debit card transactions or direct deposit
• Hard/soft pull: Soft
• Credit card funding: Up to $50 (used to be $500)
• Monthly fees: $10, waivable 
• Early account termination fee: possible $25 if closed within six months
• Expiration Date: December 22, 2015

The Offer

Direct link to offer [Update: See this comment]

• Open a Wells Fargo Everyday Checking account and receive a bonus of $100 when you complete one of the following two things:
  • 10 debit card purchases or payments
  • Set up a qualifying direct deposit of $500 or more

The Fine Print

• Update There’s another line in the fine print that I missed initially: “Customer must have a valid U.S. taxpayer identification number on file with Wells Fargo.” Sounds like the bonus will not work for someone who never had any relationship (e.g. checking, savings, mortgage, etc.) with Wells Fargo in the past. My gut is that this won’t be enforced, but we don’t know that for certain.
• Valid until December 22, 2015
• Online only at wellsfargo.com
• Only available to new consumer checking customers, not to existing customers, including joint owners
• Not valid for checking customers who have received any cash or cash-equivalent bonus through Wells Fargo consumer deposits in the past 12 months
• Offer valid only on the Everyday Checking account
• Bonus requirements must be completed within 60 days of account opening
• Qualifying direct deposits are as follows: customer’s salary, pension, Social Security, or other regular monthly income of an accumulated $500 or more, electronically deposited by employer or outside agency
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
• Bonus will be deposited into the checking account within 45 days after qualifications are met

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

Early Account Termination Fee

In the past, there was always an early account termination fee of $25 if you close your account within six months of opening. It’s being reported (1, 2) that they may have dropped this fee; if true, you can close right after the bonus posts.

Our Verdict

This offer has been around before; the good part about this time is that it’s publicly available.

People that aren’t usually interested in bank bonuses are often interested in bonuses offered by Wells Fargo because they don’t like approving consumers for credit cards unless they also have a banking relationship. Some good credit cards offered by Wells Fargo:

• Wells Fargo Propel World: $400+ sign up bonus
• Wells Fargo Propel 365: $200 sign up bonus
• Wells Fargo Cashback Card: 5% cash back at select categories for six months

Not everyone will find $100 bonuses worthwhile, and there’s also a small chance that a higher bonus will come around like we had in the past. However, if you are on the fence for a Wells Fargo credit card, this is an excellent way to take care of the relationship obstacle and net $100 along the way.

For other bank bonus options see:

• Best Bank Account Bonuses For December 2015
• All Current New Bank Account Promotions

HT: fatwallet