Wells Fargo $300 Checking Bonus – Available Online

Another update 2/28/23: The better $325 deal is available now

Update 2/28/23: Deal is back and valid until March 28, 2023. Not as good as the recent $325 offer, but very comparable.

Update 4/5/22: Deal is back and valid until July 15, 2022. Hat tip to reader Azure

Offer at a glance

• Maximum bonus amount: $300
• 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: $10, avoidable
• Early account termination fee: None, don’t close account straight away please
• Household limit: None
• Expiration date: March 31, 2022 July 15, 2022

The Offer

Direct link to offer

• Wells Fargo is offering a $300 bonus when you open a new Everyday Checking account and complete the following requirements:
  • Receive a total of $1,000 or more in qualifying direct deposits to the new checking account within 90 calendar days from account opening (the qualification period)

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:

  1. Open a new Wells Fargo consumer checking account with a minimum opening deposit of $25 by March 31, 2022. All account applications are subject to approval.
  2. 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.

  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 March 31, 2022. 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.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

The Everyday Checking account comes with a $10 monthly fee. Get the fee waived with one of the following:

• Direct deposits totaling $500 or more each statement cycle, OR
• Maintain a $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

Not as good as the previous $400 bonus we’ve seen in the past. Unfortunately we haven’t seen that since early 2020, so it might be worth jumping on this offer as the other regular offer is $200. We will add this to our list of the best checking bonuses.

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