Offer at a glance
- Maximum bonus amount: $1,500
- Availability: Account must be opened in branch. [Branch locator]
- Direct deposit required: None
- Additional requirements: $15,000 for 60 days
- Hard/soft pull: Soft
- ChexSystems: Mixed reports
- Credit card funding: None available in branch
- Monthly fees: $10, avoidable
- Early account termination fee: None
- Household limit: None listed
- Expiration date: May 13, 2022
The Offer
Direct Link to offer (get coupon code here, must apply in-branch)
- Wells Fargo is offering a bonus of $1,500 when you open a new business checking account:
- Provide the banker with the offer code and apply for a new, eligible Wells Fargo business checking account by 05/13/2022. Minimum opening deposit is $25.
- Have at least $15,000 ending daily balance in your new business checking account on the 30th calendar day and the 60th calendar day after account opening.
The Fine Print
- You must open a new Initiate Business Checking®, Navigate Business Checking®, Optimize Business Checking® or Analyzed Business Checking account in order to be eligible for this bonus offer.
- This offer is intended for new business checking customers only.
- You must use your bonus offer code at account opening when you apply for a new eligible Wells Fargo business checking account. For this offer, a new business checking customer is identified by the U.S. Taxpayer Identification Number for the business used to open the new business checking account.
- We will deposit the bonus into your new business checking account within 30 days after meeting all offer requirements. The new business checking account must remain open until the time we attempt to deposit any earned bonus payment. Please note that an account with a zero balance may be closed by us without prior notice, as further described in the Deposit Account Agreement.
- You are responsible for any federal, state, or local taxes due on your bonus. As required by law, the bonus amount may be reported on IRS form 1099. Consult your tax advisor.
- Offer valid from March 14, 2022 through May 13, 2022. However, offer may be discontinued or changed at any time prior to the expiration date without notice.
- Offer cannot be:
- Paid without a valid U.S. Taxpayer Identification Number (Form W-9 for U.S. persons including a resident alien). Non-resident aliens, signing Form W-8 are not eligible for the offer.
- Combined with any other business deposit offer.
- Reproduced, purchased, sold, transferred, or traded.
- The actions required to earn this bonus are separate and distinct from the options available to you to avoid any applicable monthly service or maintenance fee for the checking account you opened.
- Talk with a banker or see the Business Account Fee and Information Schedule and Deposit Account Agreement for complete checking account details, including the applicable monthly service or maintenance fee and options to avoid it.
Avoiding Fees
Monthly Fees
The Initiate Business Checking account looks to be the lowest level account and is eligible for this bonus. It comes with a $10 monthly fee which is waived if you have one of the following each fee period:
- $500 minimum daily balance, OR
- $1,000 average ledger balance
Early Account Termination Fee
There is no early account termination fee mentioned.
Our Verdict
This offer is insanely good to get $1,500 for tying up $15,000 over 60 days. We once saw a $1,000 branch offer, but this one is higher and much easier to meet. It is a branch-only offer which is a pain, but this makes a good opportunity to try out Wells Fargo for your business banking needs.
I like that you can generate a coupon code online which hopefully means that any Wells Fargo banker should be able to process the application (is business banker needed?). I wonder if they are able to schedule virtual appointments with branch bankers and get this offer. We will be adding this to our list of the best checking bonuses.
Big thanks to reader Sam who let us know about this offer. Learn how to find bonuses and contribute to the site here.
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
