Wells Fargo is Offering a $1,000 Bonus for New Business Checking Accounts

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wells fargo 1000 business checking bonus

Wells Fargo is Offering a $1,000 Bonus for New Business Checking Accounts

Well Fargo has a promotion for new business checking accounts that can earn you a huge signup bonus. The requirements are not the easiest and you need to go into a branch to open the account. Let’s check the details.

The Offer

To earn the $1,000 bonus:

  1. Visit a branch to open a new Wells Fargo Platinum Business or Analyzed Business Checking Account by March 31, 2019 and bring the required business documents
  2. Fund your new business account with $25 or more
  3. Deposit $25,000 or more into the new business checking account by Day 10, and
  4. Have a $25,000 minimum balance in your account on Day 180, and
  5. Make 10 or more qualifying transactions by Day 180

Key Terms

  • Unique offer code can only be used once.
  • Current business checking account owners and recipients of a business checking bonus in the past 12 months are not eligible
  • Bonus will be deposited into your new checking account within 45 days after eligibility and requirements have been met.
  • Offer cannot be paid without providing a valid U.S. Taxpayer Identification Number (W­9)

Analysis

The best account to open for this bonus is probably the Wells Fargo Platinum Business checking. It comes with a $40 monthly service fee that can be waived with a $25,000 monthly balance, which is also the balance required for the bonus.

You need to go to a branch and open this account, but it’s best to check first if they are offering it. Seems like it might not be available everywhere, or they are just not aware of it.

It’s possible that you don’t need to keep the $25K in the account the whole time, but it would be the safe thing to do. The wording of the offer makes it seem that you should be able to deposit $25K within 10 days and then withdraw it. You can then deposit it again so you have it in there in the 180th day. This is not guaranteed though and you would also get charged $40 per month if you don’t have $25K in there.

There’s no early closing fee for this account, but you have to keep it open for 7 months until you receive the bonus.

Conclusion

This is a huge bonus. Wells Fargo has branches in most states, so hopefully you have one nearby who is offering this promotion. Don’t wait until the end of the expiration to open the account, because sometimes these offers are pulled early. You are not eligible for the bonus if you have received one in the last 12 months or if you already have a business checking account.

HT: Doctor of Credit


The responses below are not provided or commissioned by any advertiser or bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by any advertiser. It is not any advertiser's responsibility to ensure all posts and/or questions are answered.

5 COMMENTS

  1. As a former small business owner who has recently (not once but twice) “fired” Wells Fargo as my company’s commercial account banker, and in light of this week’s WF online banking snafu, don’t do it!

    The churn of their assigned commercial bankers is atrocious, the customer service is awful, and the $1000 in freebies will be gone in their fees in less than 6 mos. Shop around, there are much better commercial banks out there, especially for small businesses.

  2. Totally agree with D.A. They sure know how to screw up people. As a business owner also, I will never do business with them again, regardless of their offer.

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