One of the most storied brands in banking, Wells Fargo has been around for over 150 years and has built a national retail presence of approximately 4,900 locations and more than 12,000 ATMs across most of the U.S. The bank is currently offering cash incentives to open a checking account or credit card.

If you are considering switching your banking to Wells Fargo, now might be the right time to get on board that familiar Wells Fargo wagon.

Here is the current slate of Wells Fargo’s new-account promotions. Offer details and annual percentage yields (APYs) are accurate as of April 12, 2024.

Wells Fargo Promotions for 2024

Wells Fargo Everyday Checking: Earn $325

Wells Fargo calls Everyday Checking its “best checking account for managing day-to-day financial needs.” The account features free transactions at Wells Fargo ATMs, mobile access, payments through Zelle, a contactless debit card and more. It also has a $10 monthly service fee.

  • What is the offer? Open a new Everyday Checking account with a minimum opening deposit of $25, receive a total of $1,000 in qualifying direct deposits during the first 90 days, and earn a $325 bonus.
  • What is considered a direct deposit? Any ACH (automated clearing house) deposit of your salary, pension, Social Security or other regular income into your bank account counts toward the $1,000 goal. Wells Fargo recommends that you check with your employer or the agency or company making the payments to ensure that ACH is used.
  • When do you receive your bonus? After the 90-day qualification window closes, Wells Fargo will determine if you have met the offer requirements and will deposit your bonus within 30 days.
  • Is there a time limit on the offer? Yes. It’s available to customers who open a new account by May 21, 2024.
  • Can you avoid the monthly service fee? Wells Fargo will waive your account’s $10 monthly service fee if you maintain a $500 minimum daily balance or receive $500 or more in qualifying direct deposits during the month. Wells Fargo also waives the maintenance fee for primary account owners between ages 17 and 24 and those who have linked a Wells Fargo Campus ATM or Campus Debit Card to their checking account.

Wells Fargo Everyday Checking: Earn $300

Wells Fargo calls Everyday Checking its “best checking account for managing day-to-day financial needs.” The account features free transactions at Wells Fargo ATMs, mobile access, payments through Zelle, a contactless debit card and more. It also has a $10 monthly service fee.

  • What is the offer? Open a new Everyday Checking account with a minimum deposit of $25, take in $1,000 worth of qualifying direct deposits during the first 90 days, and earn a $300 bonus..
  • What is considered a direct deposit? Any ACH (automated clearing house) deposit of your salary, pension, Social Security or other regular income into your bank account counts toward the $1,000 target.
  • When do you receive your bonus? Again, once the 90-day qualification period ends and you’ve met the requirements, the cash will be deposited into your account within 30 days.
  • Is there a time limit on the offer? It’s available to customers who open a new account by June 25, 2024.

Wells Fargo Initiate Business Checking℠: No Bonus Currently Available

Wells Fargo is not offering any welcome bonuses for new business checking account customers right now, but sign-up bonuses as high as $1,500 for these accounts are not unusual.

Wells Fargo Premier Checking: Earn $2,500

Wells Fargo Premier Checking is an interest-bearing checking account with extra benefits like fewer fees and relationship interest rates on linked CDs and savings accounts.

  • What is the offer? Open a new Premier Checking account at a Wells Fargo branch with your personal bonus offer code. The minimum opening deposit is $25, and you must receive a total of $250,000 in qualifying direct deposits during the first 45 days and maintain that minimum balance through day 90 to earn the bonus.
  • What is considered a direct deposit? New deposits can be any ACH (automated clearing house) deposit of your salary, pension, Social Security or other regular income. Wells Fargo recommends that you check with your employer or the agency or company making the payments to ensure that ACH is used.
  • When do you receive your bonus? After the 90-day qualification window closes, Wells Fargo will deposit your bonus within 30 days into your Premier Checking account if all requirements are met.
  • Is there a time limit on the offer? Yes. It’s available to customers who open a new account by June 25, 2024.
  • Can you avoid the monthly service fee? The $35 monthly service fee can be waived if you maintain at least $250,000 in qualifying linked accounts. These accounts include consumer bank deposit account balances such as checking, savings, CDs and FDIC-insured IRAs. They also include investment account balances through Wells Fargo Advisors and applicable bank fiduciary and custody accounts.

Wells Fargo Savings Account Offer

Consumers Savings Account: Earn $525

Eligible Wells Fargo consumer savings accounts for this bonus include the Wells Fargo Way2Save® Savings and Wells Fargo Platinum Savings. Way2Save Savings pays an APY of 0.01% APY on all balances, and Platinum Savings pays an APY from 0.25% to 2.50%, depending on your account balance.

  • What is the offer? Open a new eligible consumer savings account at a Wells Fargo branch with your personal bonus offer code. The minimum opening deposit is $25, and you must receive a total of at least $25,000 in qualifying direct deposits during the first 30 days and maintain that minimum balance through day 90 to earn the bonus.
  • What is considered a direct deposit? Qualifying direct deposits must be new to Wells Fargo and can be any ACH (automated clearing house) deposit of your salary, pension, Social Security or other regular income. Wells Fargo recommends that you check with your employer, agency or company making the payments to ensure that ACH is used.
  • When do you receive your bonus? You will receive your bonus in your new savings account within 30 days after the 90-day qualification period if requirements are met.
  • Is there a time limit on the offer? Yes. It’s available to customers who open a new account by June 25, 2024.

Wells Fargo Credit Card Offers

In addition to bonuses on checking accounts, there are notable Wells Fargo credit card offers. These Wells Fargo sign-up bonuses can earn you cash or rewards points if you meet the minimum spending requirements.

Wells Fargo Active Cash® Card

Wells Fargo refers to the Active Cash Card as their “best cash back credit card ever.” This card features unlimited 2% cash rewards on purchases, a 0% intro APR for 15 months from account opening on purchases and qualifying balance transfers, then a 20.24%, 25.24%, or 29.99% variable APR applies. Balance transfers made within 120 days qualify for the intro rate and fee of 3% then a fee of up to 5%, with a minimum of $5 applies, cell phone protection, zero-liability protection and more.

  • What is the offer? Earn $200 cash rewards bonus after spending $500 in purchases in the first 3 months.
  • When do you receive your bonus? Your bonus rewards will show up in your account one to two billing cycles after you satisfy the criteria.
  • How do you redeem rewards? You can redeem your rewards by offsetting previous purchases, exchanging them for gift cards or cash back, using them as a credit to your account or making payments using PayPal.
  • Is there a time limit on the offer? No time limit is advertised.

Wells Fargo Autograph℠ Card

The Wells Fargo Autograph Card offers 3 points per dollar at restaurants, travel, gas stations, transit, popular streaming services and phone plans. Plus, earn 1 point per dollar on other purchases. This card also features a 0% introductory APR on purchases for 12 months from account opening. A variable APR of 20.24%, 25.24%, or 29.99% applies for purchases after the intro period ends and for balance transfers. The card has a balance transfer fee of up to 5%, minimum $5, cell phone protection, auto rental collision damage waivers and more.

  • What is the offer? Earn 20,000 bonus points after spending $1,000 in purchases in the first 3 months.
  • When do you receive your bonus? Your bonus rewards will show up in your account one to two billing cycles after you earn them.
  • How do you redeem your rewards? You can redeem your rewards as a credit to your account, use them to make purchases or use them to cover purchases you’ve already made. You can also use points to make payments using PayPal.
  • Is there a time limit on the offer? No time limit is advertised.

How Can You Earn a Wells Fargo Checking Account Bonus?

Earning a welcome bonus for a new checking account with Wells Fargo is simple. You must:

  • Open an Everyday Checking account online (You can also open an account in a branch location using an offer code.)
  • Make a minimum opening deposit of $25
  • Receive $1,000 or more in direct deposits into the account within 90 days

Why Does Wells Fargo Give Sign-Up Bonuses?

Long-term customers are highly valuable to banks. A checking account customer might eventually open a credit card, take out a mortgage or hold an auto loan.

To attract new customers, Wells Fargo and many other banks offer welcome bonuses as an alternative to spending their marketing budgets on advertising.

How To Sign Up In-Branch

If you’d prefer not to apply for a new checking account online but would rather do that at one of Wells Fargo’s branch locations, the bank makes that easy.

Simply click on “OPEN IN-BRANCH” on the welcome offer promotion page, fill out your name, email address and ZIP code, and Wells Fargo will give you a unique bonus offer code that you can take to a branch and use to open an account.

Bonus offer codes are valid for one-time use only and must be provided to your banker at account opening to qualify for the welcome bonus.

What Else Should You Know About Wells Fargo Checking Account Promotions?

1. Current Customers, Recent Bonus Recipients and Employees Are Not Eligible

Wells Fargo targets these introductory offers to attract new customers who do not already have a personal checking account with the bank.

If you are a current owner of a Wells Fargo consumer checking account or have received a bonus for opening a Wells Fargo personal checking account within the past 12 months, you are not eligible to receive a welcome bonus if you open a new consumer checking account now.

Also, the bank’s employees are not eligible to receive a welcome bonus for opening a Wells Fargo consumer checking account.

2. You Must Keep the Account Open for a Time

Wells Fargo requires your new account to remain open for the entire 90-day qualification period, plus the time it takes to deposit your welcome bonus. But then, Wells Fargo charges no early account termination fees and will not claw back your bonus if you close your account shortly after you get your cash.

3. Your Bonus May Be Taxable

Generally, welcome bonuses for bank accounts are considered interest income for tax purposes. While Wells Fargo doesn’t explicitly state that you will receive a 1099 for your welcome bonus, you should not be surprised if your bonus amount is reported as interest income to the IRS and you get a 1099-INT.

4. You Can Receive Both a Personal and a Business Welcome Bonus

From time to time, Wells Fargo does offer welcome bonuses to new business checking account customers, in addition to its personal checking promotions.

If Wells Fargo is running a new account promotion for small business customers, you can receive a bonus for a new business checking account even if you’ve gotten a welcome bonus for opening a consumer checking account at Wells Fargo.

And, holding a business checking account with Wells Fargo won’t make you ineligible for a personal checking account welcome bonus.

Find The Best Business Checking Accounts Of 2024

Learn More

Bottom Line

If you’re interested in changing banks or simply opening a new account, taking advantage of Wells Fargo checking account promotions could be an easy way to earn a cash welcome bonus. The direct deposit requirements are relatively easy to meet, and the bonus itself is on par with what you’ll find at other brick-and-mortar banks.

In addition to bank account bonuses, you may also want to check Wells Fargo credit card promotions to see what kind of introductory offers are on top.

Frequently Asked Questions (FAQs)

How do Wells Fargo promotions work?

Wells Fargo bank promotions allow customers who open new accounts to earn a welcome bonus when they meet certain requirements. You may need to make an initial minimum deposit and then receive eligible direct deposits each month to qualify for an introductory bonus. If you do qualify, the bonus is credited to your new Wells Fargo account.

When will I get my Wells Fargo bonus?

Wells Fargo new account promotions may have initial qualifying tasks you need to complete before a welcome bonus can be awarded. You may need to receive eligible direct deposits over a 90-day period. Once the qualifying period ends, any bonuses earned will be credited to your account within 30 days.

How are Wells Fargo rewards calculated?

Each Wells Fargo credit card has its own rewards program that calculates rewards in one of two ways. Cash-back cards calculate cash back on qualifying purchases as a percentage of the total purchase price. If you earn 2% cash rewards, you earn $0.02 for every $1 spent. Points-based Wells Fargo cards calculate rewards by awarding you a certain number of points per dollar spent on qualifying purchases. These points are generally worth $0.01 each, although their value may depend on how you redeem them and the card you hold.

How do I get a higher bonus with Wells Fargo?

It’s possible to earn a higher bonus if you’re eligible for multiple Wells Fargo promotions. For instance, you may qualify for one bonus when you open a new personal checking account and a separate bonus when you open a new business checking account. You will, however, have to meet the eligibility requirements for each account to qualify for both bonuses.