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Wells Fargo Checking Account $50 Bonus

J. Wu Posted in Bank Deals & Bonuses by J. Wu
November 7, 2007 07:50 PM - 21 Comments

Wells Fargo is offering $50 bonus to customers who open a checking account with a $100 initial deposit. Once your account is opened, you will receive a $50 credit within 45 days.

The great thing about this deal is that it is simple; there is no need to link your account with direct deposit to cash in on this bank deal. In addition, the Wells Fargo checking account has the following benefits:

  • Free Checking That’s Really Free — Enjoy no monthly service fees, no minimum balance requirements, and a Wells Fargo® Check Card with no annual card fee.
  • Free Access To Wells Fargo Online® — Our top-ranked online service lets you view statements, monitor account balances, transfer funds, automatically track your spending, and more — anytime, anywhere you have internet access.

Hurry though, the offer expires November 30, 2007.

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Comments (21)
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  1. JacMac said:
    on November 8th at 02:39 am

    Make sure to read the fine print on this one. The offer does not apply to College or Opportunity Checking and there is a minimum $1,000 requirement on a Basic checking account or they’ll assess a $5 a month service fee. The PMA checking package, the only other checking account eligible for this offer has a $25,000 combined balance requirement or they assess a $25 a month fee.

  2. Hendrix said:
    on November 8th at 03:37 am

    I believe its $100 requirement for the basic checking?

  3. Jeff said:
    on November 8th at 04:42 am

    JacMac is correct, their website says you need $1000 min balance OR direct deposit to avoid a $5 monthly fee. Does anyone know if the first order of checks is free with this offer, and if there is a minimum amount of time one has to keep the account open and not be charged an early closing fee?
    Thanks.

  4. Norman said:
    on November 8th at 04:13 pm

    I just opened the FREE checking account to get the $50 and also called to confirm that it is FREE with initial $100 deposit and there are no maintenance fees. 1-800-956-4442

  5. Norman said:
    on November 8th at 04:17 pm

    They do NOT send any paper checks. If you want to use paper checks you need to order them yourself. If I remember correctly there is a checkbox on the signup page to use if you want to order checks, I did not order the checks. Customer service is very friendly and helpful.

  6. JacMac said:
    on November 9th at 06:13 am

    Hey, I’m happy to be wrong!
    How long do you guys hold on to these accounts before letting them go, though? My BankofAmerica account says in the fine print that it is fee-less (no maintenance fees) for a limited time only, but there’s no penalty or time limit on how long you have to keep the account open.

    Also, does anyone know if the banks look out for serial account openers?

  7. Vijay said:
    on November 9th at 07:21 pm

    I was told that you need to have the account open for a minimum of six months.

  8. Jeff said:
    on November 10th at 04:56 am

    Vijay, I just opened an account w/$100 minimum and didn’t see a 6-month minimum requirement. What do you base your info on?

  9. Vijay said:
    on November 10th at 07:39 pm

    I called the 800 number and asked them how long the a/c has to be kept open for which she said 6-month.

  10. Steve said:
    on November 11th at 01:30 am

    I just called the 800 number and verified:
    1) No fees and no minimum balances required (other than the initial $100 deposit.
    2) No direct deposit required
    3) Free VISA debit card
    4) To do this over the phone, you must fund with a credit card (Discover, MC, or Visa). This will be charged as a purchase, not a cash advance, and can be for up to a max of $300 initial deposit (So use your 1% rebate cards for an additional $3 bonus).
    5) $50 bonus will be deposited within a couple weeks.

  11. jacmac said:
    on November 13th at 02:36 am

    Ok, here’s been my experience thus far.
    1) I called in to open the account but the rep had no idea what I was talking about.

    2) I opened the account online, receive instant approval, an account number and a application reference number. I was told I would be getting a new account information packet in 3 business days.

    3)Then I got an email today that said unfortunately I had NOT been approved, and I would be receiving a letter in the mail explaining why.

    So then I called online banking and spoke to one guy who said I had to speak to the New Accounts division. I was transferred and then I explained AGAIN and was on hold while they esearchthe problem

    4) I suddenly found myself on with a new rep in the General Accounts division who I explained the situation to AGAIN and of course he said that I needed to speak to ONLINE banking!!!!

    5) I was transferred to online banking AGAIN and explained AGAIN was put on hold AGAIN and was transferred RIGHT back TO ANOTHER REP!!!

    All in all, too much trouble, I hate speaking to bank telephone reps because the left hand NEVER knows what the right hand is doing in my experiencing. It’s always phone tag and bouncing you from one department to another.

  12. Hendrix said:
    on November 13th at 06:04 am

    ROFL!

  13. Brad B said:
    on November 15th at 11:57 pm

    Just checked my credit report today, after applying on Monday night.. Looks like they did a credit pull.. Can you call them and have them withdraw that from your report, or file something with the credit bureaus.. I find it hard that they do that for a checking account.

  14. Sean said:
    on November 16th at 09:00 pm

    Everything worked fine for me. Opened the account and will received the $50 within 45 days. Also, make sure you view your transfer tab with you are online. In order to get the account totally free they added a $75 transfer (which is done every month) from checking to savings. So I have to move the $75 back every month from savings to checking otherwire the next month there will only be $25 in the checking and then they try to transfer it will go back as NSF and you will be charges a fee.

    All in all a pretty good deal
    Thanks,
    Sean

  15. jacmac said:
    on November 17th at 04:28 am

    Does this mean that you have to open two accounts! If so, that’s really too much trouble — transfering back and forth.

    I recommend the Chase account with the Direct deposit. If you have a CD account, you can have the interest transferred monthly and that qualifies. It was simple and painless and it’s $125.

  16. brb said:
    on November 18th at 01:06 am

    jacmac, were you able to get $125 on chase through opening online, or did you go to the brick-and-mortar location to open the account? Thanks everyone for your posts…

  17. jacmac said:
    on November 20th at 04:46 am

    I had to go to the physical bank but it was fast and painless, they even offered me a Home Equity loan on the spot (I said no thanks.)

    Wells Fargo sent a letter. They said they could not verify information on my application. They pulled a credit check! I don’t get it.

  18. Tom said:
    on November 26th at 05:51 pm

    I went to a branch on the 24th to open an account however, the agent was not familiar with the offer. Luckly, i had the foresight to bring a print out of the offer and was able to recieve it. told me I will get the 50 in 3-4 weeks. This is an awesome site.

  19. Yousuf said:
    on December 12th at 08:35 pm

    I work in a bank, as a personal banker. Here are few tips for you folks. Always read the fine prints, MOST PROMOS, like where the bank gives you money. Either you have to have direct deposit, some bank requires 500.00 direct dep, some 300.00,(Chase) some requires repeating direct deposit. Others will require you pay online bills ( bankoPopular)

    ..There’s always a cath, because banks wants you to keep the account open for atleast 90-160 days..Wish i could give you more info but i cant…

    but honestly, don’t just open accounts because you want to get 50.00 or 125.00. Because no adays bank have started checking credits in order to open you a checking account. MY BANK DOES THAT…opening accounts for few bucks aint worth it. Thanks

  20. o-tizzle said:
    on January 9th at 01:50 pm

    hey everyone- just tried to close my account after getting the free $50. here’s the scoop: wells fargo seems to have tons of customers with nightmare stories, some making even bofa seem not that bad. also, fyi, there is a $10 fee for early closures within 90 days of opening an account. given that there are no free atms in my state, to withdraw my $150, I can either pay about $6 to withdraw my money from an atm, or pay $8 to have wells fargo mail me a cashiers check of my account balance. in order to do this, there is no phone process or fax number. you actually have to mail a letter (they said to get it notarized lol) to a certain address claiming you would like to close the account and to send the balance. So the $50 bonus easily turns into $32, plus you have to mail a letter and wait 3-4weeks to get your money mailed after closing the account. still can’t complain, free money is free money, but there are better ways to spend your time that this offer.

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