There is a better $500 checking bonus that is worth doing.
Update 8/19/26: Extended to 10/6/26 October 6, 2026, August 18, 2026, July 7, 2026, May 19, 2026, April 7, 2026
Offer at a glance
- Maximum bonus amount: $400
- Availability: Nationwide
- Direct deposit required: Yes, $1,000+
- Additional requirements: None
- Hard/soft pull: Soft
- ChexSystems: Mixed reports, likely doesn’t pull
- Credit card funding: None
- Monthly fees: $15, avoidable
- Early account termination fee: None, don’t close account straight away please
- Household limit: None
- Expiration date:
January 6, 2023February 27, 2023 April 10, 2023 August 21, 2023October 10, 2023April 9, 2024May 21, 2024
The Offer
- Wells Fargo is offering a $400 bonus when you open a new Everyday Checking account and complete the following requirements:
- Receive a total of
$1,000$3,000$1,000 or more in qualifying direct deposits to the new checking account within 90 calendar days from account opening (the qualification period)
- Receive a total of
The Fine Print
Eligibility Requirements:
- This offer is for new checking customers only. All Wells Fargo consumer checking accounts are eligible for this offer with the exception of checking accounts offered by Wells Fargo Private Bank.
- You must use your bonus offer code at account opening when you apply for a new eligible Wells Fargo checking account.
- You are not eligible for this offer if:
- You are a current owner of a Wells Fargo consumer checking account
- You have received a bonus for opening a Wells Fargo consumer checking account within the past 12 months
- You are a Wells Fargo employee
Bonus Requirements:
- Open a new Wells Fargo consumer checking account with a minimum opening deposit of $25 by January 6, 2023. All account applications are subject to approval.
- Within 90 calendar days of account opening (the “qualification period”), receive a total of $1,000 or more in qualifying direct deposits to your new checking account.
- A qualifying direct deposit is an ACH (Automated Clearing House) automatic electronic deposit of your salary, pension, Social Security, or other regular income into your bank account. Confirm with your employer or the agency or company making these payments that they use the ACH network.
- Transfers from one account to another, mobile deposits, or deposits made at a branch, or ATM don’t qualify as a direct deposit.
- A direct deposit made available early with Early Pay Day does not count toward the bonus requirements until it posts to your account and is no longer pending (e.g. the pay date scheduled by your payor).
Bonus Payment:
- Once the 90-day qualification period has elapsed, we will determine if you have met the offer requirements, and will deposit any earned bonus into your new checking account within 30 days.
- The new checking account must remain open throughout the 90-day qualification period and at the time we attempt to deposit any earned bonus payment. Please note that an account with a zero balance may be closed by us without prior notice, as further described in the Deposit Account Agreement.
- You are responsible for any federal, state, or local taxes due on the bonus and we will report as income to the tax authorities if required by applicable law. Consult your tax advisor.
Additional Terms and Conditions:
- Offer expires January 6, 2023. However, offer may be discontinued or changed at any time prior to the expiration date without notice.
- Offer cannot be:
- Paid without a valid U.S. Taxpayer Identification Number (Form W-9 for U.S. persons including a resident alien). Non-resident aliens, signing Form W-8 are not eligible for the offer.
- Combined with any other consumer deposit offer (limit one bonus per customer/account).
- Reproduced, purchased, sold, transferred, or traded.
- The actions required to earn this bonus are separate and distinct from the options available to you to avoid any applicable monthly service fee for the checking account you opened.Talk with a banker or see the “Consumer Account Fee and Information Schedule and Deposit Account Agreement” for complete checking account details, including the applicable monthly service fee and options to avoid it.
Avoiding Fees
Monthly Fees
The Everyday Checking account comes with a $15 monthly fee. According to this comment they do not charge the fee until at least the statement that closes 64 days or later from opening. Get the fee waived with one of the following:
- $1,500 minimum daily balance.
- 5,000 or more in qualifying deposit balances, investment balances, or both
- $500 or more in total qualifying electronic deposits1
- Primary account owner is 17-24 years old2
- A linked Wells Fargo Campus ATM Card or Campus Debit Card3
- A qualifying monthly non-civilian military direct deposit with the Wells Fargo Worldwide Military Banking program4
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
$400 is one of the best variations of this bonus and well worth doing. I will add this to our best bank account bonuses.
Hat tip to reader Paul K
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
F.A.Q’s
How often is this bonus offered/extended?
The top of the page lists the previous dates, for even older post history you can view this comment.
I’ve done the bonus before, when am I eligible again?
The terms are quite clear. You can’t be a Wells Fargo employee, have a current Wells Fargo consumer checking account or have received a bonus for opening a Wells Fargo consumer checking account within the past 12 months. Joint owners are considered current customers.
