This deal has now expired, there is another $200 Wells Fargo checking bonus and it doesn’t require a direct deposit. More information here.
Confirmed as nationwide. It seems that RI & LA zip codes won’t work but if you put in another zip it will work and then you can enter your real mailing address during sign up. YMMV if this ends up with you getting the bonus or not.
Offer at a glance
- Maximum bonus amount:Â $200
- Availability:Â Nationwide, excluding RI & LA
- Direct deposit required:Â Yes, $500+ for three consecutive months
- Additional requirements:Â None
- Hard/soft pull:Â Soft
- ChexSystems: Mixed reports, likely doesn’t pull
- Credit card funding:Â Can fund up to $50 online
- Monthly fees:Â $10, waivableÂ
- Early account termination fee:Â None
- Household limit:Â None
- Expiration date:Â October 1st, 2018
Contents
The Offer
- Receive a sign up bonus of $200 when you open a new Everyday checking account with Wells Fargo and complete the following requirements:
- Set up direct deposit and receive at least 3 consecutive monthly direct deposits of $500 or more within 150 days of account opening
The Fine Print
- You cannot be:
- A current owner on a Wells Fargo consumer checking account
- A Wells Fargo team member
- A recipient of a consumer checking bonus in the past 12 months (limit one bonus per customer)
- A qualifying direct deposit is the customer’s salary, pension, Social Security, or other regular monthly income of an accumulated $500 or more, electronically deposited through the Automated Clearing House (ACH) network to this checking account by your employer or an outside agency.
- A non-qualifying direct deposit is transfers from one account to another or deposits made at a branch or ATM
- During this time, your new account balance must be $1.00 or more.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Geographic Eligibility
Not sure if this is geographically restricted like previous offers. I tried a few major places (Los Angeles/NYC) and they all worked whereas last time they didn’t. You have to enter your zip code when you click the link so it’s easy to tell if your area is eligible or not.
Avoiding Fees
Monthly Fees
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
This is probably the worst variation of this offer, previous $200 deals didn’t require a direct deposit and they have offered $250 and $300 in the past as well. That being said nationwide deals like this from Wells Fargo are rare. Wells Fargo isn’t exactly strict when it comes to what counts as a direct deposit either. Another advantage of going for this bonus is that Wells Fargo usually likes you having some sort of relationship with them before approving you for a credit card. Because of all that I do recommend going for this bonus and I’ll be adding it to the best checking bonuses.
Big thanks to reader, CJ 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
DP: For Wells Fargo Bank (Personal Everyday Checking)
$400 Bonus
[Requirements]: $3k in monthly DD’s for 3 consecutive months within 150 days from account opening.
Account Opened: 07/29/2019 ($25 initial deposit)
DD #1: $1000 push from Discover (08/26/2019)
DD #2: $2000 push from Discover (08/27/2019)
DD #3: $3000 push from Discover (09/19/2019)
DD #4: $3000 push from Discover (10/08/2019)
Bonus Posted ($400): PROMOTION BONUS (10/17/2019)
Hi was this from a Discover savings account or checking account? Thanks
Another DP:Fidelity ACH to Wells Fargo still works, did 3 consecutive $500 transfers and bonus posted on 02/21- strange that I noticed that only today -I used to monitor this account frequently not sure how I missed that posting -or they could have posted on backdated.
But nevertheless this is a good news as I had left all hope and was thinking to close this account but good that bonus posted finally.
Did you use a cash management account ?
My ACH to WFC says moneylink. Is that what yours said on Wells checking account?
Aonther DP to share.
I finally received my $200 bonus as well. So happy!! I did ACH transfer from Citibank for 6 months starting in September 2018. Bonus posted on 2/21/2019…seems like several other people also received their bonus on the same day. Kudos!!!
9/3 Created account
9/18 Fidelity ACH of $501.23
10/17 Fidelity ACH of $501.23
11/14 Fidelity ACH of $501.23
2/21 Bonus posted
I did not have to do any trial deposits when I used Fidelity’s ACH to Wells Fargo.
Did you transfer from a cash management account or brokerage account? Thanks in advance
Another DP for bonus posting 2/21. Account opened 8/27. I did a lot of transfers, not sure what triggered the bonus. I did do 3 consecutive Paypal transfers, that could be it. Also pushes from Capital One and Ally.
Opened 8/27. Did three $500+ monthly transfers from PayPal. Bonus posted 2/21.
I don’t see any trial deposits in my transaction history. I can’t remember how I verified the account.
I applied for the account on 9/18. Transfered $500 every month from a Schwab brokerage account and bonus finally posted on 2/21.
My SO’s bonus also posted 2/21. ~$505 Venmo in Oct, Nov, Dec.
Opened 08/26/2018
ACH Push from Alliant 10/10, 11/07, 12/04
Bonus posted 02/20/19
Did not return the tax form originally sent (just forgot, not because I refused to send it).
How did the pushes from Alliant code?
Alliant CU. ONLINE DP
what does the DP stand for? I have WD on mine
sonia did you get the bonus?
Same here. I open on 8/29/2018 and received the bonus on 2/21/2019 only transferring from alliant cu.
There is an older dp below that says Alliant didn’t work. Strange.
Opened 08/21/18
ACH Push from Fidelity on 09/14, 10/09, 11/07
Bonus Posted 02/21/19
9ballAJ Did you use a Fidelity Cash Management Account or a Fidelity Brokerage Account? Thanks
Fidelity Cash Management