Wells Fargo Bonuses and Promotions May 2023 – Forbes Advisors

One of the most recognized brands in the banking industry, Wells Fargo has a history of more than 150 years and has built a nationwide retail presence in nearly 4,900 locations and over 12,000 ATMs across most parts of the United States. I’m here. checking account or credit card.

If you’re considering switching banks to Wells Fargo, now might be the right time to hop on the familiar Wells Fargo wagon.

Here is the current list of Wells Fargo new account promotions: Benefit details are as of April 26, 2023.

Wells Fargo promotions for 2023

Wells Fargo Daily Check: Earn $325

Wells Fargo calls Everyday Checking “the best checking account for managing your daily financial needs.” Account Features: Free transactions at Wells Fargo ATMs. mobile access; payments with Zelle; contactless debit cards; and more. There is also a monthly service charge of $10.

• what is the offer? Open a new Everyday Checking account with a minimum deposit of $25 and receive a total of $1,000 in qualifying direct deposits and a $325 bonus in the first 90 days.
• What is direct deposit? Payroll, pension, social security, or other regular income ACH (Automated Clearinghouse) deposits count toward your $1,000 goal. Wells Fargo recommends checking with your employer or paying agency or company to confirm that ACH is being used.
• When will I receive my bonus? After the 90-day qualification period, Wells Fargo will determine if you meet the requirements of the offer and will credit the bonus within 30 days.
• Is there a time limit on the offer? yes. Available to customers who open a new account by May 22, 2023.
• Can I avoid monthly service fees? Wells Fargo will waive the $10 monthly service fee on your account if you maintain a minimum daily balance of $500 or receive $500 or more in qualifying direct deposits during the month. Wells Fargo will also waive maintenance fees for primary account holders between the ages of 17 and 24 and anyone who has a Wells Fargo campus ATM or campus debit card linked to their checking account.

Wells Fargo Daily Check: Earn $300

Wells Fargo calls Everyday Checking “the best checking account for managing your daily financial needs.” Account Features: Free transactions at Wells Fargo ATMs. mobile access; payments with Zelle; contactless debit cards; and more. There is also a monthly service charge of $10.

• what is the offer? Open a new Everyday Checking account with a minimum deposit of $25 and receive $1,000 worth of qualifying direct deposits and a $300 bonus in your first 90 days.
• What is direct deposit? Payroll, pension, social security, or other regular income ACH (Automated Clearing House) deposits count toward your $1,000 goal.
• When will I receive my bonus? Again, once the 90-day qualification period is over and you meet the requirements, the cash will be credited to your account within 30 days.
• Is there a time limit on the offer? Available to customers who open a new account by June 27, 2023.

Wells Fargo Initiate Business Checking℠: No bonuses currently available

Wells Fargo does not currently offer welcome bonuses to new business checking account customers, but it’s not uncommon to offer sign-up bonuses as high as $1,500 on these accounts.

wells fargo credit card benefits

In addition to checking account bonuses, the Wells Fargo credit card offers three notable perks. These Wells Fargo sign-up bonuses can be earned in cash or Rewards Points, provided you meet the minimum spend requirements.

Wells Fargo ActiveCash® Card

Wells Fargo calls the Active Cash Card “the best cash back credit card ever.” The card features unlimited 2% cash rewards on purchases, 0% introductory APR for 15 months from account opening at time of purchase, and eligible balance transfers of 19.74%, 24.74%, or 29.74% thereafter. % variation APR is applied. Balance transfers made within 120 days are subject to a referral fee plus a 3% commission, then up to a 5% commission, $5 minimum, mobile phone protection, irresponsibility protection, etc. .

• what is the offer? Earn a $200 Cash Rewards bonus when you spend $500 in your first 3 months.
• When will I receive my bonus? Bonus rewards will appear in your account within 1-2 billing cycles after you meet the criteria.
• How do I redeem my rewards? You can redeem your rewards by offsetting previous purchases, redeeming them for gift cards or cashback, using them as a credit to your account, or making a payment using PayPal.
• Is there a time limit on the offer? No time limit.

Wells Fargo Signed ℠ Card

The Wells Fargo Autograph Card offers 3 points per dollar spent on restaurants, travel, gas stations, transit, popular streaming services and phone plans. Plus, earn 1 point for every $1 spent on other purchases. The card also features a 0% referral APR on purchase for 12 months from account opening. A variable APR of 19.74%, 24.74%, or 29.74% applies to purchases and balance transfers after the introductory period ends. Cards are subject to a maximum 5% balance transfer fee. $5 minimum, cell phone protection, auto rental collision damage waiver and more.

• what is the offer? Earn 20,000 bonus points on $1,000 purchase in first 3 months
• When will I receive my bonus? Bonus rewards will appear in your account 1-2 billing cycles after you earn them.
• How do I redeem my rewards? You can redeem your rewards as credits to your account, use them for purchases, or use them to compensate for purchases you’ve already made. You can also use points to pay with PayPal.
• Is there a time limit on the offer? No time limit.

Wells Fargo Business Platinum Credit Card*

The Wells Fargo Business Platinum Credit Card is one of Wells Fargo’s premier business credit cards with two rewards programs to choose from. Under Cashback Rewards, choose your reward: Cashback or Reward Points. Cash Back Option: Earn 1.5% cash back for every $1 spent. Reward Points Option: Earn 1 point for every $1 spent and receive 1,000 bonus points when company spends $1,000 or more in the monthly billing period.

• what is the offer? A one-time $300 cashback bonus or 30,000 bonus points when you enroll in the Business Card Rewards Program and spend $3,000 in the first three months of your account opening date.
• When will I receive my bonus? Bonus rewards will appear in your account 1-2 billing cycles after you earn them.
• How do I redeem my rewards? It depends on the rewards program you choose. With cashback rewards, your rewards will appear as statement credits in your account on a quarterly basis. With Reward Points, you can redeem your points for cashback, gift cards, airline tickets, and more. Plus, every time you redeem your points online, you’ll receive a 10% points credit.
• Is there a time limit on the offer? yes. This benefit expires on June 30, 2023 for him.

How do I claim the Wells Fargo checking account bonus?

Getting your welcome bonus with your new Wells Fargo checking account is easy. you must:

• Open an Everyday Checking account online (you can also use an offer code to open an account at a branch).
• Make a first deposit of at least $25
• Receive direct deposits of $1,000 or more into your account within 90 days

Why Does Wells Fargo Offer a Signup Bonus?

Long-term customers are very valuable to banks. A checking account customer may eventually open a credit card, take out a mortgage, or take out a car loan.

To attract new customers, Wells Fargo and many other banks offer welcome bonuses instead of spending marketing budgets on advertising.

How to sign up at a branch

If you prefer to apply for a new checking account at one of Wells Fargo’s branches instead of applying online, your bank will make it easy for you.

On the welcome offer promotion page[OPEN IN-BRANCH]Just click and enter your name, email address and zip code and Wells Fargo will give you a unique bonus offer code. account.

The bonus offer code is valid only once and must be provided to the banker when opening an account to be eligible for the welcome bonus.

What else should I know about the Wells Fargo checking account promotion?

1. Not applicable to current customers, recent bonus recipients and employees

Wells Fargo targets these introductory offers to attract new customers who do not yet have a personal checking account with a bank.

If you currently have a Wells Fargo Consumer Checking Account or have received a bonus for opening a Wells Fargo Personal Checking Account within the last 12 months, open a new Consumer Checking Account now are not eligible to receive the welcome bonus. .

Bank employees are also not eligible to receive a welcome bonus for opening a Wells Fargo consumer checking account.

2. You need to keep your account open for a while

Wells Fargo requires you to keep your new account open for the entire 90-day qualification period plus the time it takes to deposit your welcome bonus. However, Wells Fargo does not charge an early termination fee and the bonus will not be refunded if you close your account immediately after receiving the cash.

3. Bonuses may be taxable

Bank account welcome bonuses are generally considered interest income for tax purposes. Wells Fargo does not explicitly state that he will receive 1099 for the welcome bonus, but don’t be surprised if the bonus amount is reported to his IRS as interest income and receives 1099-INT.

4. You can receive both personal and business welcome bonuses

In addition to personal checking account promotions, Wells Fargo occasionally offers welcome bonuses to new business checking account customers.

If Wells Fargo is running a new account promotion for small business customers, you will not be eligible to receive the New Business Checking Account bonus if you opened a Consumer Checking Account with Wells Fargo and earned a welcome bonus. increase.

Also, having a Wells Fargo business checking account does not disqualify you from receiving the personal checking account welcome bonus.

Conclusion

If you’re interested in changing banks or simply opening a new account, Wells Fargo checking account promotions make it easy to get a cash welcome bonus. Meeting the direct deposit requirements is relatively easy, and the bonuses themselves are on par with those found at other brick-and-mortar banks.

In addition to bank account bonuses, you can also check out Wells Fargo credit card promotions to see what introductory offers are on top.

Frequently Asked Questions (FAQ)