Wells Fargo is encouraging new customers to open up checking accounts by offering a $250 bonus. This is how the Wells Fargo checking account bonus offer works:
- Open up a new eligible checking account with Wells Fargo by Feb. 17. The minimum opening deposit is $25.
- Within 60 days of opening the account, you need to make 10 debit card purchases or payments OR set up a qualifying direct deposit of at least $500 to your new checking account.
You’re not eligible for the offer if you are a current owner of a Wells Fargo consumer checking account, an employee of Wells Fargo or a recipient of a consumer checking account bonus in the past year.
This checking account does have a monthly service fee of $10. To avoid being dinged with that fee, however, you need to meet one of these four conditions each month:
- Maintain a $1,500 minimum daily balance.
- Have a minimum of $500 in qualifying direct deposits.
- Have 10 or more posted debit card purchases or payments from the account
- Link to a Wells Fargo campus ATM or campus debit card.
Also, young adults can get a special discount of half off the service fee. If the primary account owner is age 17 through 24, Wells Fargo offers a $5 monthly service fee discount on the $10 fee.
You won’t get your bonus right away. Wells Fargo says after you meet the eligibility and qualifications requirements, it has 45 days to deposit the $250 bonus in your account.
Do you have a checking account? Which bank do you use? Comment below or on Facebook.
Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click links within our stories.