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Wells Fargo $50 Checking Account Bonus in a Few States


Wells Fargo Bank

Wells Fargo is offering a $50 cash bonus for opening any of its checking accounts. Here's the link to the offer. According to the small print, it's "available only at participating Wells Fargo stores in Indiana, Iowa, Michigan, Minnesota, North Dakota and Wisconsin." The list of participating branches is available here. You're required to print the coupon and take it to the Wells Fargo branch and open the checking account by 5/31/2010. Here are some additional important small print details with my highlighting of things to note:

To qualify for your $50 bonus, you must open and fund a new personal Wells Fargo checking account with a minimum opening deposit of $100 (not including the $50 bonus) by 5/31/2010. The $50 bonus is available with all Wells Fargo checking accounts, including non-interest earning checking accounts except the Wells Fargo Teen Checking and Wells Fargo Opportunity Checking accounts. You will receive the $50 bonus within 30–45 days of account opening.

Credit for this find goes to markber at iBankDesign.

Wells Fargo Checking Review

The $50 bonus isn't much for a checking account these days, but at least this doesn't require direct deposit or debit card usage. One thing to note is that there may be a hard credit inquiry. This is based on my conversation with a Wells Fargo CSR in 2008.

Even though Wells Fargo's Free Checking has no monthly service fees, the online bill pay is not free with this checking account. Also, there are no free checks, not even the first order. You can get free online bill pay and free checks with other Wells Fargo checking accounts, but you'll have to watch out for monthly fees.

Wells Fargo's New Way2Save Program

Wells Fargo has a new Way2Save program. I don't think it's available nationwide yet. It's going to be introduced on a state-by-state basis as Wells Fargo converts the Wachovia branches. I reviewed this new program in depth in this October post. I did an update post in January reviewing the progress Wells Fargo is making in the conversions. For those who have Wachovia's Way2Save accounts, you may be disappointed if you've been maxing out the bonus. However, the new program should make it easier to receive a small bonus for the first year.

  Tags: Wells Fargo Bank, checking account, Indiana, Iowa, Michigan, Minnesota, North Dakota, Wisconsin

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Comment #1 by ekat posted on
WF is also offering a $25 referral bonus if you're already a client:

"Refer a friend to open a new WF Checking Package and you will both receive a $25 bonus." 2/15 - 3/31/10

In CA, you can get free checks w/o min. balance, if you at least auto transfer monthly to a linked savings account ($25 or $75 package options).

Beware:  They typically do hard pulls for ANYthing.  I've had accounts with them for decades, yet when I opened a CD they still did a hard pull.  ??!!? 

On the other hand, (maybe because of my history w/them) on the rare occasion of a fee occuring, they've credited it back as a courtesy when I've telephoned them to request the consideration.


Comment #2 by Anonymous posted on
I had a history w/them too, I got a $32 OD fee, I asked for a courtesy delete, they declined in email, I called them, declined on phone, snotty supervisor did too. I hung up. Wells Fargo is a greedy lousy bank.

Comment #3 by Anonymous posted on
I tried this $50 bonus deal.  After 4 months of no bonus (accruing ridiculous service fees), several phonce calls to the specific customer service rep who created my account, and additional calls to the "Exec Office" I was never given the $50 bonus.  They claimed I had exceeded the 45 day window to notify them if I didn't get the bonus.  The fact that I had called 6 times (most assuredly at least once within that window) didn't seem to matter.

I eventually go them to refund the service fees and refund my initial deposit.  It was a terrible experience, and further proof that WF is a horrible bank with the worst customer service ever.

USAA is the best bank out there - no question.

Comment #4 by Anonymous posted on
is the date May 6, 2010 right for the $50.00 coupon for new checking accounts?