Wells Fargo new account $250 bonus UPDATED! - Now thru March 3rd

[DaveInAZ]

For those who love those banking new account signup bonuses, Wells Fargo is offering a $250 bonus for new customers opening an account by Feb. 17.

UPDATED: New link:

https://www.wellsfargo.com/jump/checking/hello-offer/

Get started by opening an eligible Wells Fargo Everyday Checking2 account, from this page, with the minimum opening deposit of $25 by February 17, 2017. Within 60 days of account opening, complete one of these requirements:

• Make 10 debit card purchases/payments.
• Set up qualifying Direct Deposits totaling $500 to your new checking account.

Important details on how to redeem this offer

The Wells Fargo Everyday Checking account has a monthly service fee of $10. The monthly service fee can be avoided with any one of the following each fee period: maintain a $1,500 minimum daily balance; $500 or more in total qualifying direct deposits; 10 or more posted debit card purchases/payments from this checking account (this includes posted debit card purchases or posted debit card payments of bills from this checking account.

UPDATED: New Additional Terms: (Click "Important Offer Details" on the page:

. Important things to know about the offer:

Eligibility:

• All consumer checking accounts, including non-interest-earning checking accounts (except Teen CheckingSM) are eligible for the bonus of $250 when opened in a retail banking location. The prepaid Wells Fargo EasyPay® Card is not eligible.
• Wells Fargo Everyday Checking is the account eligible for this offer when opened online.
• You cannot be:
  • A current owner on a Wells Fargo consumer checking account
  • A Wells Fargo team member
  • A recipient of a consumer checking bonus in the past 12 months (limit 1 bonus per customer)

Bonus Qualifications:

• Open a new, eligible consumer checking account with a minimum opening deposit of $25 (not including the bonus) by March 3, 2017.

 - Bolding is mine to indicate that only the Everyday Checking account is eligible for the bonus when opened online from the link, and the "Open an Everyday Checking Account" is what is linked to on the page. NOTE: If you try to open an account in branch they will tell you that you have to have a personalized code offer you received by mail or email.

I opened and account Jan 18, approved Jan. 23, got my debit card Jan 26, made the 10 debit transactions by reloading .50 cents to my Amazon gift card 10 times, and received my bonus Jan. 30. For what it's worth I'm keeping the account for now & seehow it goes, I moved my payroll direct deposit to it to avoid any fees. But there is no requirement for you to keep the account open after you receive the bonus. If you wish to close your account after receiving the bonus, the easist way to do it online is transfer all your funds out and once it has posted & you have a $0.00 balance, send a secure message while logged into your account asking them to close your account.

Also BE AWARE that for any bank/credit union new account bonus they will send you a 1099 form and you need to include the bonus as taxable income. Credit card spend bonuses are NOT taxable, the IRS considers those a "discount on purchases", not income.

[Helpmeraiseit]

Awesome!!! Just signed up!

Thanks for the info.

[wasCB14]

I'll go for it...but I'm keeping my reports on ice!

[Anonymous]

I got this the very day it was posted elsewhere online, got the same disclosure have yet to receive any documents in the mail but I have got online banking set up. Quick tip for anybody, last I heard the $300 Chase checking offering was being triggered by the ACH transfer from Wells Fargo. I am attempting two birds with one stone here. No HPs at all for me WF credit cards are very mehhhhhh anyway. 

[Anonymous]

Thank you for the info! I signed up just now but really only for the bonus! I'll likely close the acct in 4-6months. Does WF HP for checking accts?

[Anonymous]

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@Anonymous wrote:
Thank you for the info! I signed up just now but really only for the bonus! I'll likely close the acct in 4-6months. Does WF HP for checking accts?

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I didn't get a HP. 

[wasCB14]

I applied online. After giving them my info, they said they will need to mail me a paper application to sign and return. Then I'll have to wait a few more days for them to approve it.

I'm starting to see why people don't like them.

[DaveInAZ]

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@wasCB14 wrote:

I applied online. After giving them my info, they said they will need to mail me a paper application to sign and return. Then I'll have to wait a few more days for them to approve it.

I'm starting to see why people don't like them.

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I'm pretty sure federal banking regulations require a signed application to open an account. For one, they want your signature on file id there's ever any issues/questions on a check being posted to the account. And after the recent scandal over WF bankers opening phantom accounts without the account holders permission/knowledge, we don't want WF opening any account without the account holders signature. 

[wasCB14]

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@DaveInAZ wrote:

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@wasCB14 wrote:

I applied online. After giving them my info, they said they will need to mail me a paper application to sign and return. Then I'll have to wait a few more days for them to approve it.

I'm starting to see why people don't like them.

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I'm pretty sure federal banking regulations require a signed application to open an account. For one, they want your signature on file id there's ever any issues/questions on a check being posted to the account. And after the recent scandal over WF bankers opening phantom accounts without the account holders permission/knowledge, we don't want WF opening any account without the account holders signature. 

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Good point about limiting what rogue employees can open. I chase banking/brokerage promotions, though, and often haven't needed to sign anything. For WF, it could be internal controls or a stricter adherence to regulations.

[DaveInAZ]

@wasCB14 wrote:

Good point about limiting what rogue employees can open. I chase banking/brokerage promotions, though, and often haven't needed to sign anything. For WF, it could be internal controls or a stricter adherence to regulations.

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Yeah, I tend to chase banking promos as well, this will be my 4th within 2 years, netting me $1K total with this one. But I've kept all the accounts open except for Chase, I had an axe to grind with them and closed the account right after the 90 day requirement.

I'm not sure I'll keep WF open after the promo, I don't see any minimum requirement for keeping the account open. Wells Fargo is very hard to like, I banked with them from 1999-2010, closed after repeated issues. The worst was when I lived in Las Vegas. I was rolling over an old 401k and ran it through my WF account. I go into my regular branch with a check for $42k. The teller looked at me like I was trying to rob her, and walks over to the manager without saying a word. They talk & keep looking up at me like they were trying to decide whether to call the cops. Teller comes back, doesn't say a word, and starts to make a phone call. I ask her what's going on & she tells me she's calling the other bank to make sure the check is good. I tell her I'm not cashing the check, just depositing it, and I expect there to be a hold on the funds, and my account has been open for 7 years with never any returned items or any other issues. She says the manager told her to call & make sure the check was good before she could accept it & give me a deposit receipt. The other bank apparently tells her it is fine, and she hands me a receipt with a 10 business day hold on all funds. I question the 10 day hold, and she says it's a "special hold" for "suspicious activity". I ask "So, everyone depositing a sizable check is automatically suspicious?" She shrugs and looks past me at the person next in line, obviously wanting me to go away. Oh, and I don't know if all WF branches have this, but in Vegas tellers are behind a 1" thick obviously bullet proof Plexiglas barrier, not terribly inviting. 

I imagine Vegas has more Bernie Maddoff wannabes than other cities, but not exactly the way to make your customers feel appreciated. I was going to roll the $$$ into a WF retirement account, I decided to roll it over elsewhere.