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Ken Tumin founded the Bank Deals Blog in 2005 and has been passionately covering the best deposit deals ever since. He is frequently referenced by The New York Times, The Wall Street Journal, and other publications as a top expert, but he is first and foremost a fellow deal seeker and member of the wonderful community of savers that frequents DepositAccounts.

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History of Wells Fargo Bonus Payouts


Wells Fargo has a long history of offering checking account bonuses. Have you participated in a past Wells Fargo checking promotion? If you have, did they pay the the bonus as promised? Please take my poll to answer this question.

Since Wells Fargo continues to come out with new promotions, I decided it would be useful to have a poll for readers who have participated in past Wells Fargo promotions. It asks if the bank has paid the bonus as promised. If they did pay, did you have to call or visit a branch to get the bank to pay? If they didn’t pay, was it the bank’s fault for not paying (You think you should have been paid since you met all of the bonus requirements.)

The results of this poll should help readers decide if current and future Wells Fargo checking promotions are worthwhile. If many people report not receiving the bonus, you might not want to waste your time on the promotion. It’s common for readers to leave comments when the banks didn’t pay, but it’s less likely for those who did receive the bonus to comment. Hopefully, the poll will encourage both sides to respond.

The new Wells Fargo checking account promotions do have requirements like debit card purchases. If the customer fails to meet these requirements within 60 days of when the account was opened, no bonus will paid. Some past promotions had very little requirements, and there were still reports of customers not receiving a bonus. One DA reader described his problems in a comment. Here’s an excerpt:

I tried this $50 bonus deal. After 4 months of no bonus (accruing ridiculous service fees), several phone 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.

Even if you receive the bonus at Wells Fargo, you may not come out ahead in the long run. You have to be careful that you avoid monthly service fees.

Bank Bonuses

To view polls of other banks’ reputations with honoring bonuses, please refer to this list of bank promotion polls. These include banks like Chase and Bank of the West.

You can view my latest bank bonus blog posts in this bank bonus page. I and DepositAccounts.com readers often post on bonuses in the bank deals forum.


  Tags: Wells Fargo Bank, checking account

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Comments
Comment #4 by Anonymous posted on
Anonymous
Some time ago I went into a branch to open account with bonus and was accepted. The bonus never came. Branch manager subsequently told me would have had to deposit $25,000.00 (!) to get the bonus, when the published opening was for $500 which I brought with me initially. Had to bring in Regional Office to get it .And mention I knew their regulator, the Comptroller of the Currency, from my time in Washington writing banking law (true.) This is a bank for those with the IQ of hamsters.

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