Wells Fargo is offering a great $250 bonus for opening an eligible Wells Fargo Everyday Checking account with the minimum opening deposit of $25 by February 17, 2017. The offer is available online and in branch. All consumer checking accounts, including non-interest-earning checking accounts (except Teen Checking) are eligible for the bonus
To get the bonus, within 60 days of account opening, you must complete ONE of these requirements:
- Make 10 debit card purchases/payments OR
- Set up a qualifying Direct Deposit of $500 to your new checking account
This is the best offer they’ve had for checking accounts and it’s a great one since it comes with minimal requirements.
An extra bonus of having a Wells Fargo checking account, is that you can then apply for Wells Fargo credit cards. Even then, they’re a bit stingy with their approvals. I was declined more than a year ago for the Wells Fargo Cash Back Visa card. So I’ll give it another try now so I can get this $100 bonus plus 5% cash back for 6 months.
Update: Wells Fargo has updated the terms to add the following (HT: DoC)
This is an exclusive, nontransferable offer, available to those who received our direct mail or e-mail offer.
This means that going forward, you most likely won’t receive the bonus unless you were directly targeted. Previously it only said, “this is an exclusive, nontransferable offer”. Hopefully earlier applications will still get it.
You also do not qualify for the bonus if you have received any cash or cash-equivalent bonus through Wells Fargo consumer deposits in the past 12 months.
How to avoid fees
The Wells Fargo Everyday Checking account has a monthly service fee of $10. The monthly service fee can be avoided with any one of the following each fee period:
- Maintain a $1,500 minimum daily balance
- $500 or more in total qualifying direct deposits
- 10 or more posted debit card purchases/payments from this checking account
- Linked to a Wells Fargo Campus ATM or Campus Debit Card
You also receive a $5 monthly service fee discount off the $10 monthly service fee when the primary account owner is 17 through 24 years of age.
- Apply Here
- Account Type: Everyday Checking
- Availability: Nationwide
- Expiration Date: 2/17/2017
- Type of Inquiry: Soft pull
- Direct Deposit Requirement: Optional
- Other Requirements: 10 debit card purchases/payments within 60 days
- Credit Card Funding: Up to $50
- Monthly Fee: $10 but can be waived
- Closing Account Fee: None