Published on January 14th, 2020 | by Chuck513
[Nationwide] Wells Fargo $400 Checking Bonus – Available Online
Update 1/14/20: Apparently, some areas of Virginia work as well. (ht YAR)
Update 1/13/20: Dallas, TX and Washington D.C. have now been added to the list of eligible areas.
Offer at a glance
- Maximum bonus amount: $400
- Availability: Nationwide
Denver, CO; Houston, TX; Miami, FL; Orlando, FL; Phoenix, AZ; Seattle, WA and their suburbs & Dallas, TX and Washington D.C.
- Direct deposit required: Yes, $4,000
- Additional requirements:
- Hard/soft pull: Soft
- ChexSystems: Mixed reports, likely doesn’t pull
- Credit card funding: Can fund up to $50 online
- Monthly fees: $10, avoidable
- Early account termination fee: None, don’t close account straight away please
- Household limit: None
- Expiration date: July 31, 2020
- Wells Fargo is offering a bonus of $400 when you open a new checking account and complete the following requirements:
- Set up a direct deposit and receive a cumulative total of $4,000 in qualifying direct deposits over the course of the first 3 months.
The Fine Print
- Eligibility Requirements:
- Everyday Checking is the only eligible account for the $400 bonus when opened online. If you do not qualify for Everyday Checking but do qualify for Opportunity Checking®, this offer can still be applied to the Opportunity Checking account.
- This offer is intended for new checking customers only. You are not eligible for this offer if:
- You are a current owner of a Wells Fargo consumer checking account
- You are a Wells Fargo team member
- You have received a bonus for opening a Wells Fargo consumer checking account within the past 12 months
- Open a new, eligible Wells Fargo consumer checking account with a minimum opening deposit of $25 by July 31, 2020. All account applications are subject to approval.
- Within 90 days of account opening (the “qualification period”), receive a total of $4,000 or more in qualifying direct deposits to your new checking account during the qualification period.
- A qualifying direct deposit is a direct deposit of your salary, pension, Social Security, or other regular monthly income, electronically deposited through the Automated Clearing House (ACH) network to this checking account by your employer or an outside agency.
- Transfers from one account to another, mobile deposits, or deposits made at a banking location or ATM do not qualify.
- After the initial 90 days of account opening, your bonus will be paid within the next 30 days if you have met all offer requirements.
- Throughout the qualification period and until the bonus is paid, you must maintain a balance in your account greater than $0. Accounts with a zero balance may be subject to automatic closure pursuant to the terms of the Deposit Account Agreement.
- 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 still be open at the time we attempt to deposit any earned bonus payment.
- 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.
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.
Similar offer was available last year; the direct deposit requirement is a bit easier on this one since it’s $4k total versus $3k three times. Overall a terrific bonus if you can meet the direct deposit requirement.
Hat tip to Mdam0re
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