[Expired] Wells Fargo $400 Checking Bonus – Available Online

There is now a new $400 bonus that can be viewed here.

Deal has expired, view more bank account bonuses by clicking here

Update 6/2/19: The original signup link isn’t working properly anymore (it redirects to a generic page). Use this link only going forward. Updated the link below as well.

Update 4/16/19:  Below in branch link is now valid until December 31st, 2019.

Update 3/1/19: This new signup link offers the option to do this $400 bonus in branch if that interests you for some reason. (Previous link was online only.) Hat tip reader SMan

Offer at a glance

• Maximum bonus amount: $400
• Availability: Nationwide?
• Direct deposit required: Yes, $3,000 for three consecutive months
• Additional requirements:
• Hard/soft pull: Soft
• ChexSystems: Mixed reports, likely doesn’t pull
• Credit card funding: Can fund up to $50 online
• Monthly fees: $10, avoidable
• Early account termination fee: None, don’t close account straight away please
• Household limit: None
• Expiration date: July 29th, 2019 December 31st, 2019

The Offer

Direct link to offer | Current Link

• Wells Fargo is offering a bonus of $400 when you open a new checking account and complete the following requirements:
  • Set up a direct deposit and receive a cumulative monthly total of $3,000 in qualifying direct deposits into your new account for 3 consecutive months

The Fine Print

• Eligibility Requirements:
  • Everyday Checking is the only eligible account for the $400 bonus when opened online. If you do not qualify for Everyday Checking but do qualify for Opportunity Checking®, this offer can still be applied to the Opportunity Checking account.
  • This offer is intended for new checking customers only. You are not eligible for this offer if:
    • You are a current owner of a Wells Fargo consumer checking account
    • You are a Wells Fargo team member
    • You have received a bonus for opening a Wells Fargo consumer checking account within the past 12 months
• Bonus requirements:
  • Open a new Everyday Checking account online with a minimum opening deposit of $25 by July 26, 2019. All account applications are subject to approval.
  • Within 150 days of your account open date, receive a cumulative monthly total of $3,000 in qualifying direct deposits to the checking account opened for this bonus offer for three consecutive months. During this time, your new account balance must be $1 or more.
  • A qualifying direct deposit is the customer’s salary, pension, Social Security, or other regular monthly income electronically deposited through the Automated Clearing House (ACH) network to this checking account by your employer or an outside agency.
  • Non-qualifying direct deposits for purposes of this offer include transfers from one account to another (for example, transfers between your own accounts, or person-to-person transfers using a transfer service such as Zelle®), or deposits made at a branch or ATM, or through mobile deposit.
• Bonus Payment:
  • We will deposit the bonus into your new checking account within 45 days after meeting all offer requirements.
  • The new checking account must remain open in order to receive any earned bonus payments.
  • You are responsible for any federal, state, or local taxes due on the bonus, and we will report as income to the tax authorities if required by applicable 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

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 the biggest public bonus they have offered, it does require higher direct deposits but I think still it’s better than other offers they have had (they did have a $500 checking/savings bonus in some states in branch). I don’t expect this to last long, so I think if you’re interested I’d sign up sooner rather than later. I’ll be adding this to our best bank bonus page.

Hat tip to reader Robert D

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