Well Fargo is offering an amazing promotion for new business checking accounts. The requirements are not the easiest, but you can get $1,000. The bonus might not be available at all branches, so it could be worth calling first if it’s out of the way.
Open a new Wells Fargo Platinum Business or Analyzed Business Checking Account account for a $1,000 bonus and complete a few steps by March 31, 2019. Certain qualifications apply, see below.
- Visit a branch to open a new Platinum Business Checking Account and bring the required business documents
- Fund your new business account with $25 or more
- Deposit $25,000 or more into the new business checking account by Day 10, and
- Have a $25,000 minimum balance in your account on Day 180, and
- Make 10 or more qualifying transactions by Day 180
Bonus will be deposited into your new checking account within 45 days after eligibility and requirements have been met.
Offer is available nationwide, but the only limitation is that you need to go into a branch to open the account. They’re available in most states.
Current business checking account owners and recipients of a business checking bonus in the past 12 months are not eligible
Offer cannot be paid without providing a valid U.S. Taxpayer Identification Number (W9)
Wells Fargo Platinum Business Account has a $40 monthly fee. You can avoid the $40 monthly service fee with one of the following each fee period:
- $25,000 average balance, OR
- $40,000 in combined balances (business checking, savings, CDs, and credit)
No early closing fee.
This is an awesome bonus, but it does require a large amount of money to be deposited in the new Platinum Business account and you need to go into a branch to open it. Furthermore, it looks like not all branches are aware of this bonus, so walk into one, or call, and ask if they have it. Might have to open it with a Business Specialist in branch and they have unique codes that they can use for each person, maybe a limited amount.
As for the bonus itself, it’s a great return of about 8% on your money. From the wording it looks like you can deposit $25K within 10 days and then withdraw it. Then you need to deposit it again before the 180th day. Not sure if that would work. The safe bet would be to deposit $25K and keep it in there for 6 months, unless you get some kind of confirmation from the Business Specialist. You also need that $25K in the account to avoid a $40 monthly fee.
Sometimes these offers are pulled before the expiration date and since promo codes could be limited, it’s best to go into a branch sooner than later. You are not eligible for the bonus if you have received one in the last 12 months or if you already have a business checking account.
- No Link Available
- Bonus: $1,000
- Account Type: Platinum Business
- Availability: Nationwide, in-branch
- Expiration Date: 3/31/2019
- Inquiry Type: Soft pull
- Direct Deposit Requirement: No
- Other Requirements: Deposit a cumulative total of $25,000 within 10 days, and have same balance after 180 days. 10 debit transactions.
- Credit Card Funding: No
- Monthly Fee: $40 (waivable)
- Closing Account Fee: No