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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.

Read more about the offer here.

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.