Update 10/8/19: Deal is back and valid until November 15th, 2019.  Hat tip to DDG

Offer at a glance

• Maximum bonus amount: $500
• Offer excluded in the following states: Hawaii, Kentucky, Louisiana, Maine, Massachusetts, Missouri, New Hampshire, Oklahoma, Rhode Island, Vermont, and West Virginia. Account must be opened in branch. [Branch locator]
• Direct deposit required: No
• Additional requirements: See below
• Hard/soft pull: Soft
• ChexSystems: Mixed reports
• Credit card funding: None available in branch
• Monthly fees: $14, avoidable
• Early account termination fee: None
• Household limit: None listed
• Expiration date: August 30th, 2019 November 15th, 2019

The Offer

Direct link to offer

• Wells Fargo is offering a bonus of $500 when you open a new Business checking account and complete the following requirements:
  • • E-mail yourself coupon and use that to open account in branch with at least $25
    • Have a $15,000 minimum balance in your account on Day 30 & 90, and
    • Make 5 or more qualifying transactions that have posted to the new business checking account by Day 90.

The Fine Print

• Eligibility:

  • Unique bonus offer code can only be used once.
  • Provide one-time-use, unique bonus offer code to banker at account opening.
  • Offer excluded in the following states: Hawaii, Kentucky, Louisiana, Maine, Massachusetts, Michigan, Missouri, New Hampshire, Indiana, Ohio, Oklahoma, Rhode Island, Vermont, and West Virginia.

• You cannot be:

  • A current owner of a Wells Fargo business checking account.
  • A Wells Fargo team member.
  • The recipient of a business checking cash bonus offer in the past 12 months.

• Bonus Qualifications:

  • Open a new eligible business checking account in a Wells Fargo branch by August 30, 2019.
  • Fund the new business checking account with a minimum opening deposit of $25.
  • Have a $15,000 minimum balance in your new business checking account on Day 30 and on Day 90 of account opening, and
  • Have 5 or more posted qualifying transactions to the same account by Day 90:
    • Debit card purchases or payments of bills*
    • ACH (Automated Clearing House) credits and debits
    • Checks paid from your new account (deposited and cashed)
    • Mobile deposits**
    • Wires (credits and debits)
    • Wells Fargo Business Bill Pay
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Business choice checking is the easiest account to keep fee free. It has a $14 monthly fee that is waived if you do one of the following each fee period:

• Maintain a $7,500 average ledger balance OR
• $10,000 in combined balances (business checking, savings, CDs and credit) or
• 10 or more posted business debit card purchases

Early Account Termination Fee

There is no early account termination fee.

Our Verdict

We saw a similar $500 offer last year, but the account was much easier to keep fee free and it only required a deposit of $2,000 instead of $15,000. There is also currently a $1,000 offer, that requires $25,000 in funds though. Unfortunately most branches are saying that offer is no longer available. Because of that this is your best option, but it is frustrating for people who missed out on the better deal. I’ll still be adding this to the best checking bonuses page but not as high as normally would be due to that $1,000 offer.

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

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