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Offer at a glance
- Maximum bonus amount:Â $300
- Availability:Â Enter zip code to see eligibility (Baltimore, MD; Denver, CO; Richmond-Petersburg, VA; Norfolk, VA; Portland, OR; Seattle-Tacoma, WA; Washington, DC-MD, Raleigh, NC; San Diego, CA)
- Direct deposit required:Â Yes
- Additional requirements:Â None
- Hard/soft pull:Â Soft
- ChexSystems: Mixed reports, likely doesn’t pull
- Credit card funding:Â Can fund up to $50 online
- Monthly fees:Â $10-$15, waivableÂ
- Early account termination fee:Â None
- Household limit:Â None
- Expiration date:Â November 22, 2017
Contents
The Offer
- Receive a sign up bonus of $300 when you open a new Everyday or Preferred checking account with Wells Fago and have $1,500 direct deposited into the account for three consecutive months within 150 days of account opening
Geographic Eligibility
Enter your zip code to check eligibility.
The following areas are eligible:Â Baltimore, MD; Denver, CO; Richmond-Petersburg, VA; Norfolk, VA; Portland, OR; Seattle-Tacoma, WA; Washington, DC-MD, Raleigh, NC; San Diego, CA
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)
- All consumer checking accounts except Teen Checking are eligible for the $300 bonus when opened in a branch. Only certain checking accounts are available when opened online.
- Bonus available in-branch or online
- Initial deposit of $25 required during account opening
- 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
- 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
- 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.
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
The Preferred Checking account comes with a $15 monthly fee. Get the fee waived with one of the following:
- $10,000 in combined deposits, OR
- $1,000 monthly direct deposit, OR
- A linked Wells Fargo mortgage, OR
Early Account Termination Fee
There is no early account termination fee.
Our Verdict
$300 is excellent and well-worth jumping on if you can satisfy the direct deposit requirement. Previous data points indicate that most ACH transfers count as direct deposit for Wells Fargo. Let us know if it works this time.
There are currently three Wells Fargo bonuses available:
- The bonus discussed in this post which is $300 and has a 3 x $1,500 direct deposit requirement
- There’s a $200 bonus available nationwide which has a lower 3 x $500 direct deposit requirement
- There’s a $200 offer in select areas; that one doesn’t have a direct deposit requirement, just an easy debit card usage requirement
- (There’s also a $300 business checking offer for in-branch opening at Wells Fargo)
We’ll add this to our list of Best State-Specific Bank Bonuses.
Hat tip to jenncheer on r/churning
