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.