Comments on: Wells Fargo Checking Account $50 Bonus

By: o-tizzle

o-tizzle — Wed, 09 Jan 2008 13:50:39 +0000

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.

By: Yousuf

Yousuf — Wed, 12 Dec 2007 20:35:06 +0000

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

By: Money Market News » Wells Fargo Checking Account $50 BonusBest CD (Certificate of Deposit) Rates, Money Market Rates, High Interest Accounts

Fri, 07 Dec 2007 20:06:57 +0000

[...] Read full entry [...]

By: Tom

Tom — Mon, 26 Nov 2007 17:51:04 +0000

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.

By: jacmac

jacmac — Tue, 20 Nov 2007 04:46:34 +0000

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.

By: brb

brb — Sun, 18 Nov 2007 01:06:30 +0000

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…

By: jacmac

jacmac — Sat, 17 Nov 2007 04:28:17 +0000

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.

By: Sean

Sean — Fri, 16 Nov 2007 21:00:18 +0000

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

By: Brad B

Brad B — Thu, 15 Nov 2007 23:57:30 +0000

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.

By: Hendrix

Hendrix — Tue, 13 Nov 2007 06:04:52 +0000

ROFL!

By: jacmac

jacmac — Tue, 13 Nov 2007 02:36:34 +0000

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.

By: Steve

Steve — Sun, 11 Nov 2007 01:30:58 +0000

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.

By: Vijay

Vijay — Sat, 10 Nov 2007 19:39:27 +0000

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

By: Jeff

Jeff — Sat, 10 Nov 2007 04:56:13 +0000

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?

By: Vijay

Vijay — Fri, 09 Nov 2007 19:21:03 +0000

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

By: JacMac

JacMac — Fri, 09 Nov 2007 06:13:55 +0000

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?

By: Norman

Norman — Thu, 08 Nov 2007 16:17:17 +0000

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.

By: Norman

Norman — Thu, 08 Nov 2007 16:13:04 +0000

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

By: Jeff

Jeff — Thu, 08 Nov 2007 04:42:18 +0000

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.

By: Hendrix

Hendrix — Thu, 08 Nov 2007 03:37:05 +0000

I believe its $100 requirement for the basic checking?