This bonus has expired, if anybody finds a working link then please let us know. You can find the best checking bonuses by clicking here.
Update: Reader BB successfully received the bonus after the below language was added and isn’t a retail store private label credit cardholder. Because of that I am reposting and adding it to our best bonus page again.
I hope all readers have signed up for this bonus already, we’ve given you ample opportunity and warnings. This new deal contains the following language:
This is an exclusive, nontransferable offer. This is only available to Wells Fargo retail store private label credit card customers who received our direct mail for this offer.
Previously it contained similar language (without reference to retail store private label credit card customers) and even those who weren’t targeted received the bonus. There is no guarantee this is the case this time. We will update the bonus once somebody who isn’t targeted gets the bonus (if that happens before the offer expires).Unlike previous offers the above language does appear in the welcome e-mails.
Offer at a glance
- Maximum bonus amount: $250
- Availability: Nationwide
- Direct deposit required: Optional, $500+
- Additional requirements:Â See below
- Hard/soft pull:Â Soft
- ChexSystems: Mixed reports, likely doesn’t pull
- Credit card funding:Â Can fund up to $50 online
- Monthly fees: $10, waivableÂ
- Early account termination fee: None, don’t close account straight away please
- Household limit: None
- Expiration date: April 1st, 2017
Contents
The Offer
- Receive a sign up bonus of $250 when you open a new checking account with Wells Fago and within 60 days complete one of the following requirements:
- Make 10 debit card purchases/payments.
- Set up a qualifying Direct Deposit of $500 to your new checking account.
The Fine Print
- This is an exclusive, nontransferable offer. This is only available to Wells Fargo retail store private label credit card customers who received our direct mail for this offer.
- Open a new, eligible consumer checking account with a minimum opening deposit of $25 (not including the bonus) by April 1, 2017.
- Within 60 days of account opening, either make 10 purchases/payments with your Wells Fargo Debit Card or establish a qualifying Direct Deposit of an accumulated $500 or more to the consumer checking account opened for this bonus offer.
- The 10 debit card purchases/payments must be from the primary linked consumer checking account opened for this offer. Transactions at an ATM do not count as a debit card purchase/payment.
- A qualifying Direct Deposit is your salary, pension, Social Security, or other regular recurring monthly income, electronically deposited to your consumer checking account by your employer or an outside agency. Transfers from one account to another or deposits made at a banking branch or ATM do not qualify as a Direct Deposit.
- Offer available in all Wells Fargo branches or online at wellsfargo.com/bonus250.
- Offer cannot be:
- Paid without a valid W-9 and U.S. taxpayer ID
- Combined with any other consumer deposit offer
- Reproduced, purchased, sold, transferred, or traded
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
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
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
Update: We now recommend it again after a reader successfully got the bonus.
As I said before, I hope all readers have already signed up for this bonus previously. I suspect you’ll get the bonus even if you’re not a retail store customer, but there is still significant risk involved and you should be aware that you’ll have no recourse if Wells Fargo doesn’t give you the $250 bonus. If I hadn’t already done this bonus, I’d probably just wait for datapoints to roll in. Because of that I don’t consider it one of the best checking account bonuses.
Big thanks to reader, Matthew B who let us know. Learn how to find bonuses and contribute to the site here.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- 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
