Bonus has now ended early, click here for the best current business checking bonuses.
Offer at a glance
- Maximum bonus amount: $500
- Availability: Offer excluded in the following states: Hawaii, Kentucky, Louisiana, Maine, Massachusetts, Missouri, New Hampshire, Oklahoma, Rhode Island, Vermont, and West Virginia. Account must be opened in branch. [Branch locator]
- Direct deposit required: No
- Additional requirements: See below
- Hard/soft pull: Soft
- ChexSystems: Mixed reports
- Credit card funding: None available in branch
- Monthly fees: $10, avoidable
- Early account termination fee: None
- Household limit: None listed
- Expiration date: November 15th, 2018
Contents
The Offer
- Wells Fargo is offering a bonus of $500 when you open a business checking account and complete the following requirements:
- E-mail yourself coupon and use that to open account in branch with at least $25
- Within 10 days of opening your account, deposit $2,000 or more into the new business checking account, and
- Have a $2,000 minimum balance in your account on Day 60, and
- Make 5 or more qualifying transactions that have posted to the new business checking account by Day 60.
The Fine Print
- Unique bonus offer code can only be used once.
- Provide one-time-use unique bonus offer code to banker at account opening.
- Offer excluded in the following states: Hawaii, Kentucky, Louisiana, Maine, Massachusetts, Missouri, New Hampshire, Oklahoma, Rhode Island, Vermont, and West Virginia.
- You cannot be:
- A current owner of a Wells Fargo business checking account.
- A Wells Fargo team member.
- The recipient of a business checking bonus in the past 12 months.
- We will deposit the bonus into your new business checking account within 30 days after meeting all eligibility and offer requirements.
- Business checking account must remain open to receive bonus amount.
- You are responsible for any federal, state, or local taxes due on your bonus, and we will report the bonus amount as income to the applicable tax authorities as required by law. Consult your tax advisor.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Simple business checking is the easiest to keep fee free. It has a $10 monthly fee, this is waived if you maintain a $500 average monthly balance.
Early Account Termination Fee
There is no early account termination fee.
Our Verdict
Previous best deal is $300. This $500 bonus has a few more requirements, but I think they are definitely worth doing for an extra $200. Definitely think this is worth doing if you have a branch that isn’t too far from you and have a business. Wells Fargo lists the business documents required here. I’ll be replacing the $300 offer with this offer on our best bank bonus page. I wouldn’t leave this offer too long, as I can see it being pulled early.
Big thanks to reader, bplturner 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
- 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
I opened this account back in October, met all the requirements and still haven’t received the bonus. I’ve been too lazy to ask about it. Just sent an SM to them about it. Hopefully I get it soon. $500 is a lot of money.
Just a few days later, the $500 bonus posted to my account today.
Signed up on 11/15. Met all qualifications on 12/10. Let the account sit until 2/28. Reached out via email. Was told to wait 45 days. Told them I already did. Was told they would look into it, and I’d get a letter in 14 days. Today on 3/7 $500 bonus posted.
nice… I did both the $500 checking and $500 credit card bonus… I got the credit card bonus and called in about the checking… said it should hit by next cycle…
Did everyone who filled out missing incentive form get their bonus?
I SM’d them for P2 and P3. P2 response was they would send a letter in 14? days. P3 response was that nothing I can do – if I fulfilled requirements, I’d get bonus 45? days after 60 days were up, or something to that effect.
Guess I need to have P2/3 call up banker and get missing incentive form submitted.
just got my $500 bonus posted to my account on 2/28…. slow turn around time… now waiting for cash back bonus to hit my biz plat credit card so I can transfer and close the account and wait for the next bonus opportunity.
still waiting on these slow people… they paid the regular checking bonus pretty quickly but this one is much longer… I’ll call my banker tomorrow to see what is up.
Opened on 11/6. Met all requirements within 10 days. Left $2,000 in account.
After 90 days elapsed on 2/3, I called the main Wells Fargo number and was told this was a “branch” bonus and that I needed to contact the branch in which I opened the account.
Contacted my banker yesterday, and she filled out and submitted the “Incentive not Received” form. She told me that it may take 14 business days before she hears anything. Hopefully it will be much faster as Araguy experienced.
did you get the bonus?
Got mine recently. Applied 10/14. Made 6 qualifying transactions. Had to call my banker a few times and he filed a form called “Incentive Not Received” on 1/28/19. My bonus showed up on 1/31/19.
Failed DP for trying to get second bonus with EIN. Got $300 11/28/17 under SSN opened 10/19/18 for $500. 10/24/18 deposit 2k and 5 debit card transactions. 1/25/19 filed missing incentive form 1/31/19 ineligible due to receiving bonus in past 12 months.
Just curious if there are any other DPs regarding this bonus. I received mine, but P2 and P3 haven’t, but then again it’s only been 63 and 70 days (Full DPs below). It is interesting I got mine exactly on the 61 day mark. Not sure if better to message them or wait til full 90 days are up?
Me:
11/13 – opened with $25
11/15 – ACH $2K, plus 6 debit txns
01/16 – $500 bonus
P2:
11/14 – opened with $25
11/20 – ACH $1K
11/21 – 6 debit txns
11/26 – ACH $1K
As of today, NO BONUS
P3:
11/13 – opened with $25
11/15 – 6 debit txns
11/19 – ACH $2K
As of today, NO BONUS
Also, FYI I made sure the bonus code was attached to all 3 application copies they gave us.
I’m in the same boat. P2 got theirs and they opened it about a week after me. We both followed the same patterns (mine was opened 10/24 and P2 was opened 10/31 and we both met the requirements pretty late in the game (day 57 or so). I’m waiting another week or so before I contact them.
Is there anyone still waiting for bonus? I am still waiting mine. I have opened the account in branch on 11/8/2018 with $2k deposit, and completed more than 5 mobile deposits/debit card purchases before 12/31/2018. Just want to get some datapoints. Thanks.
I’m still waiting on mine as well. I just sent them a secure message.
Still waiting as well, but I think today was day 90 (or 91) after the balance reached over $2k, so it’s time for me to inquire about the bonus.
Send them a note, sounds like maybe you made the same mistake I did.
I opened my account with a $3K initial deposit, did all the activity, left over $2500 in the account, and then waited. I wrote last night, the response today was that I had to open the account with at least $25, THEN do another deposit of at least $2K; the initial $3K deposit didn’t count.
I closed the account within 15 mins of receiving that message, the lady at the branch didn’t even bother to ask me why. SMH…
Interesting. I have read the promo terms again and it doesn’t say the opening deposit is not qualified for $2000 and/or the requirement of additional deposits.
There is a data point below that the bonus is paid automatically with (1) $25 opening deposit and (2) the total deposit of $1975 within 10 days. Maybe I will wait a few more days and ask my banker if the bonus is not posted.
DPs above make it look like you get the bonus as soon as you hit 60 days, if you met the requirements.
In response to the first message I received telling me that I wasn’t qualified I responded on their secure message service that their marketing information was very unclear and I listed how I’d met all the requirements, I then told them that I was glad they appreciated my business because they’d just lost it – and then I closed the account. I may have jumped the gun, I received another message a few hours later apologizing for any confusion and telling me that the issue would be escalated for review.
Gonna guess once the closure hits their system they’ll drop whatever, if anything, they may be planning to do to make it up to me. Gonna be seriously pissed if I ended up screwing myself on the $500 after all this.
So, cautionary note, if the first response is that you don’t qualify write back with the details of how you met the requirements and threaten to close the account, but don’t actually do it till they have a chance to make it right, because they just might.
I’ll post again when I hear back.
So, knock me over with a feather. I just received a check in the mail from WF for $500 for the account bonus that they initially refused, even though I closed my account on 24Jan as noted above. No letter or explanation, just a cashier’s check. I may actually consider going back with them, this displays a certain amount of integrity that I didn’t expect. I also expect that they’ll tighten up or better clarify bonus language going forward, though that may be to much to expect on my one little DP. Happy ending for me, good luck to the rest of you who haven’t seen your bonus yet.
I’m waiting on $500 business checking and $500 business credit card bonuses… slow ass people… or maybe just spoiled by banks like Discover that post bonuses the very next day after meeting requirements.
I’m still waiting…