Posted by William Charles on September 9, 2018
Bank Account Bonuses

Published on September 9th, 2018 | by William Charles


Wells Fargo $300 In Branch Business Checking Bonus [Back Again]

 September 9, 2018: Deal is back. (HT: throwthisaway_101010 on r/churning) This time Simple Business Checking is an option as well. They also added Rhode Island to the excluded states. Updated all below including the link.

[History: January 4th, 2018: Deal is back, now requires a deposit of $1,000 instead of $500. Also now requires at least 5 transactions. Hat tip to reader JasonDecember 31st, 2017: Deal has died. November 21st, 2017: Reposting again as the old link stopped working. Reader TomT found a new working link. This could be a sign that Wells Fargo plans to end this promotion sooner than expected. If you’re interested I would do this ASAP. Reposting as the bonuses are posting quite quickly. If you’re interested in doing this bonus I’d recommend doing it sooner rather than later.]

Offer at a glance

  • Maximum bonus amount: $300
  • Availability: In branch only [Branch locator]
  • Direct deposit required: No
  • Additional requirements: Deposit $1,000 for 60 days
  • Hard/soft pull: Soft
  • ChexSystems: Mixed reports
  • Credit card funding: None available in branch
  • Monthly fees: $10-40, waivable
  • Early account termination fee: None
  • Household limit: None listed
  • Expiration date: December 31st, 2017 March 30, 2018 December 31, 2018

The Offer

Direct link to offer

  • Wells Fargo is offering a bonus of $300 when you open a new Simple Business, Business Choice, or Platinum Business checking account and complete the following requirements:
    • Get bonus code and visit a branch to open your account ($25 minimum opening deposit)
    • Deposit a cumulative total of $1,000 into the new business checking account within 10 days of account opening and leave it there at the 60-day mark
    • Make 5 or more qualifying transactions within the first 60 days, including:
      • Debit card purchases
      •  ACH (credits and debits)
      • Checks Paid
      • Mobile Deposits
      • Wires (credits and debits)
      • WF Bill Pay or Direct Pay


The Fine Print

  • Offer valid from through December 31, 2018
  • Offer excluded in the following states: Louisiana, Oklahoma, Missouri, Kentucky, West Virginia, Massachusetts, Vermont, New Hampshire, Maine, Hawaii, Rhode Island
  • You cannot be:
    • A current owner on a business checking account
    • A Wells Fargo team member
    • The recipient of a business checking bonus in the past 12 months (Limit one bonus per customer)
  • Open a new, Business Choice or Platinum Business Checking Account with a minimum opening deposit of $25 in a branch by March 30, 2018.
    • Deposit $1,000 or more into the new business checking account by Day 10, and
    • Have a $1,000 minimum balance in your account on Day 60, and
    • Make 5 or more qualifying transactions by Day 60:
      • Debit card purchases
      •  ACH (credits and debits)
      • Checks Paid
      • Mobile Deposits
      • Wires (credits and debits)
      • WF Bill Pay or Direct Pay
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Simple Business Checking $10 Monthly Fee

This account has a monthly fee of $10 which is waived if you maintain a $500 average monthly balance.

Business Choice Checking $14 Monthly Fee

This account has a monthly fee of $14 which is waived if you do any one of the following:

  • Maintain a $7,500 average ledger balance
  • $10,000 in combined balances (business checking, savings, CDs, and credit)
  • 10 or more posted business debit card purchases/payments. This includes posted debit card purchases or posted debit card payments of bills from this checking account. This does not include transactions at an ATM
  • Linked to a Direct Pay service through Wells Fargo Business Online Banking
  • Qualifying transactions from a linked Wells Fargo Merchant Services account
  • Qualifying transactions from a linked Wells Fargo Business Payroll Services account

You’re also not charged the monthly fees for the first 60 days/two statement cycles.

Early Account Termination Fee

There is no early account termination fee.

Our Verdict

Pretty incredible deal considering you only need to deposit $1,000. With the Simple Business checking, you’re account will be fee-free with $500 balance. The Business Choice also has an easy fee waiver with 10 business debit card transactions per month.

This is definitely getting added to our best business checking bonuses page. Please make sure you share your datapoints on what types of business documents they require (Wells Fargo lists what is required here) and the process involved in signing up. I wouldn’t leave this one long as I can’t see it lasting until the end of the year, but that’s really more of a guess than anything else.

Big thanks to reader, JASON who let us know. Learn how to find bonuses and contribute to the site here.

Useful posts regarding bank bonuses:

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oh baby. just in time for my day off tomorrow. wahoo.

so if we’re a sole proprietor, we essentially don’t need any paperwork if it’s just our name? thx

Looks like it. In my state there is no need to register sole props.

It says: “Offer cannot be: Paid without providing a valid U.S. Taxpayer Identification Number (W­9) ” Is there an expectation that a sole proprietor have a TIN? I really don’t know, just asking.

For a sole prop your SSN is the TIN.

I talked to WF via IM.

For sole proprietorship and assuming the Co. is in your name, you just need a SS and ID.

Went the branch but they refused to open the account without a business registration. A total waste of trip for me.

I had that experience with another bank. I simply went to another branch with an experienced banker / department manager and the entire process took less than 20 minutes or so.
I’m still considering this offer even though there’s bad blood between myself and WF because I had to submit a formal complaint against them not too long ago.

Turn that bad blood in to blood money 😀

Exactly. Think of it as fining them $300 for their misdeeds. 😁

Try another banker. The one I talked to asked for business paperwork and I told him that there is no requirement other than my ID. (I also had my WF debit but any cc/debit would work as a second ID along with my DL)

He asked his manager and was cooperative when I showed him the offer page kn my iPhone.

I have frozen all my credit bureaus. Can a soft pull still be done, or will I have to unfreeze to take advantage of these bank bonuses? Thanks.

That’s a great question. Once I had this issue – it seemed to me to be frozen – but with the exception of your applying for something yourself.
Oh this is from the FTC Credit Freeze FAQs: “A credit freeze does not “keep you from opening a new account, applying for a job, renting an apartment, or buying insurance. But if you’re doing any of these, you’ll need to lift the freeze temporarily, either for a specific time or for a specific party, say, a potential landlord or employer. The cost and lead times to lift a freeze vary, so it’s best to check with the credit reporting company in advance.”

I keep getting errors using MA zip codes about the offer not being available in my area. Thoughts?

I am able to get the code for CT. Just in case the offer is not active for MA, you can always drive down for the bonus 🙂

Care to share the zip?

06072. Though when I tried today at the downtown branch, the bankers asked me a thousand questions and eventually asked me for an EIN and registration certificate of the business.

You might want to skip this branch, unless you have these, because my spiel of a sole proprietorship didn’t work.

Thanks! I actually have a legitimate business so I’m not to worried about their questions. Gonna see if I can bring these to a local branch in MA. Cheers!

Will probably go for this as sole proprietor. My first biz account. How much do they ask about business? Revenue? And such

Nature of your business, how long operating, revenues and assets.

Does anyone have advice how they keep the account fee free?

I was looking to do the debit transactions since it doesn’t state a minimum per transaction. Will buying 10 packs of gum count? 🙂

I’d recommend ten Amazon Gift Card reloads for $0.50 each. For those who order often from Amazon, Amazon credit is as good as cash.

Agreed re Amazon. Also, I’ve done Venmo payments to a friend. Check out this resource:

according to the “avoiding fees” part up there ^^^, it says we’re fee free for the first 60 days.

so i’ll just put something in my calendar about buying 10 $0.50 amazon gift cards in december.

Definitely a good option… but why not just downgrade to a simple business checking with $500 min to avoid fees (until you are ready to close it)?

That is what I was going to do, but may be I am missing something. Please let me know if I am wrong..



do you have to actually own a business to open this account?

Yes You need to own a bussiness to open this account. I called and confirmed with the bank.

GUYS you need to post this on top. like this **you need to own a bussiness to open this account*** in plan english.

I was targeted for similar offer of $500 with $2000 deposit. But the banker told me there will be a hard inquiry for any business checking account so I told him I’d think about it.
Can anyone confirm that only a soft pull will be done?

I opened two separate accounts under my name and wife’s name. No hard pull for both.
I do have corporation registration documents though.

Can I do the “John Smith Sole Proprietary” method and use my SSN?
Also read through looks like a hard pull..

WF is known for hard pulls – the “permission” is embedded in the long Terms and Conditions and detailed contractual agreement you would sign when you go into the bank.

Direct Pay is $10/mo, plus 50 cents/pmt to personal accounts (no fee to Wells Fargo personal accounts), and $3/pmt to business accounts.

A merchant account and payroll services are going to have fees too high to justify the bonus so you’d want to only use them if you were going to use them anyway.

I was just going to go looking for this info, thanks for saving me the time!

I just opened mine successfully. Banker was polite. I had business paperwork just in case, but we looked at the terms and both noticed it wasn’t actually required. I’d say just be able to reference those terms and you should be good to go.

Can u confirm Soft pull?

It’s a soft pull. I have received no alerts about new inquiries at all.

one more question – do you have any prior or existing relationship with WF?

Interesting question. My actual oldest credit card account on my report is a college CC that I had with WF back in the day. I closed that pre knowledge of churning and it’s actually about to fall off my report, if it hasn’t already 🙁

Anyways I’ve gotten the bonuses on two personal checkings post churning. Haven’t gotten one in 2017 though. Both times there were some problems because the of the existing relationship; mostly related to just online banking. Luckily this time the banker bypassed all the B.S. for me. He just gave me a phone number to call and they got my online banking set up no problems.

So, if I deposit $500 upon opening the account, that means I qualify for the bonus. Right?

I guess they’re having to drum up new accounts the old fashioned way since they aren’t creating them out of thin air anymore.

Exactly. And they were just fined $185 Million (for them it’s a slap on the wrist) by the Fed’s CFPB for “fraudulently opening accounts”. And they have to rehire the whistleblower who turned them in.

Just opened one in CA as a sole proprietor. No business paperwork needed. Just needed a few details such as sales amount, date opened, and biz description.

Thanks. Did you have any prior relationship with them?

Yes, I have a credit card with them.

Opened today. 30 minutes exactly in and out. Sole proprietor, DL and major credit card. Deposited $500. No hard pull alerts across all three bureaus.


$500 push from Ally to new WF biz checking and $300 bonus is pending (same day). Initial $500 did not trigger but this seems to do the trick.

DL ? thx

Driver’s license

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