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Wells Fargo Checking Account $400 Bonus after Depositing $4,000 or more

+29 Deal Score
65,915 Views
https://bonusoffer.wf.com/promo400

Receive a total of $4,000 or more in qualifying direct deposits to the new checking account within 90 days from account opening (the qualification period).

Offer at a glance
  • Maximum bonus amount: **$400
  • Availability: **Nationwide
  • Direct deposit required: **Yes, $4,000
  • Additional requirements:
  • Hard/soft pull: **Soft
  • Credit card funding: **Can fund up to $50 online
  • Monthly fees: **$10, avoidable
  • Early account termination fee: **None,
  • Household limit: **None
    Expiration date: July 31, 2020
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Deal
Score
+29
65,915 Views
These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered. Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

154 Comments

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Joined Apr 2017
L2: Beginner
> bubble2 29 Posts
14 Reputation
imanishjain
02-06-2020 at 07:12 AM.
02-06-2020 at 07:12 AM.
I already have a wellsfargo account. Can i close my current one and open a new one after couple of months will qualify for this offer?
Reply
Joined Nov 2012
L6: Expert
> bubble2 1,358 Posts
352 Reputation
killerkoala5590
02-06-2020 at 07:36 AM.
02-06-2020 at 07:36 AM.
Quote from savemoney2008 :
Please look up what Wells Fargo has been doing to their customers. I won't trust them a bit forever. Some of them should go to jail.

Gasp. some did. sit down.
Reply
Joined Oct 2009
Beat You To The Post
> bubble2 632 Posts
1,129 Reputation
St_Nicks_Toys
02-06-2020 at 08:12 AM.
02-06-2020 at 08:12 AM.
About to go open a account. Nice Find Op
Reply
Joined Mar 2006
L5: Journeyman
> bubble2 2,231 Posts
1,272 Reputation
ayaniga
02-06-2020 at 08:20 AM.
02-06-2020 at 08:20 AM.
Quote from Bad_Boy :
Paypal, Venmo, Cashapp.
Cashapp would be the best
Hope it helps
Holy crap, I went to Cashapp's desktop website and about had a seizure watching their site animations...how can they be taken seriously looking like that.
Reply
Joined Jul 2013
L5: Journeyman
> bubble2 680 Posts
78 Reputation
Sky2000
02-06-2020 at 08:23 AM.
02-06-2020 at 08:23 AM.
Quote from TopRanked :
Wells Fargo is shady, I called their customer service and she said she couldn't help me if I didn't give her my full social security #.
I told her I didn't want to give it to her and she said then you'd have to go to the branch.
I hung up and called again, and the next person who picked up didn't even ask for my social security #.

I like the first rep.. at least she helps to ensure you are the account owner and protect ur asset ... Just my own opinion
Reply
Joined Jul 2010
L6: Expert
> bubble2 1,578 Posts
414 Reputation
bigaforlife
02-06-2020 at 08:26 AM.
02-06-2020 at 08:26 AM.
So if we send the 4k before 90 days, the terms say they'll check eligibility once the 90 days hit. Has anyone gotten the bonus prior to 90 days and then immediately closed the account after bonus hit?

Chase was a stickler for this so just wondering
Reply
Joined Jan 2013
L3: Novice
> bubble2 166 Posts
22 Reputation
bclintonbj
02-06-2020 at 08:30 AM.
02-06-2020 at 08:30 AM.
I realized because of my direct deposit changes I wasn't going to hit the $3k a month DD requirement for January, after opening in October and hitting Nov Dec. On Jan 31 did a Venmo withdrawal via normal processing speed and it posted that day as a direct deposit, got my bonus five days after completing the bonus terms.

FYI - it counted Venmo withdrawal as DD when selecting the normal 1-3 day processing time on Venmo, but instant deposits did not classify as Direct deposits.
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Joined Feb 2012
L4: Apprentice
> bubble2 309 Posts
28 Reputation
TopRanked
02-06-2020 at 08:32 AM.
02-06-2020 at 08:32 AM.
Quote from Sky2000 :
I like the first rep.. at least she helps to ensure you are the account owner and protect ur asset ... Just my own opinion
She wanted my full social security so she can sign me up for credit cards so she can get bonuses. Haven't you heard of the Wellsfargo often doing that? They don't need full # to verify im the account owner, they have other methods
Reply
Joined Oct 2012
SD for profit
> bubble2 3,483 Posts
756 Reputation
SturgeonGeneral
02-06-2020 at 08:33 AM.
02-06-2020 at 08:33 AM.
Quote from imanishjain :
I already have a wellsfargo account. Can i close my current one and open a new one after couple of months will qualify for this offer?
Read the thread, been answered less than 10 posts ago.
Reply
Joined Jul 2013
L5: Journeyman
> bubble2 680 Posts
78 Reputation
Sky2000
02-06-2020 at 08:36 AM.
02-06-2020 at 08:36 AM.
Quote from TopRanked :
She wanted my full social security so she can sign me up for credit cards so she can get bonuses. Haven't you heard of the Wellsfargo often doing that? They don't need full # to verify im the account owner, they have other methods

Of course I read all the news about wf scandals... U sure she was not using it for id check. instead trying to open a credit card for u without ur authorization if yes. Then complain her however you want.
Reply
Joined Feb 2012
L4: Apprentice
> bubble2 309 Posts
28 Reputation
TopRanked
02-06-2020 at 08:44 AM.
02-06-2020 at 08:44 AM.
Quote from Sky2000 :
Of course I read all the news about wf scandals... U sure she was not using it for id check. instead trying to open a credit card for u without ur authorization if yes. Then complain her however you want.
they normally can just ask for last 4 digits of ssn to verify, or even send a verification text to your phone etc
Reply
Joined Mar 2006
L5: Journeyman
> bubble2 2,231 Posts
1,272 Reputation
ayaniga
02-06-2020 at 09:18 AM.
02-06-2020 at 09:18 AM.
Reading through the comments and WF terms & conditions. Here's my plan...see if there's an issue with my logic.

0. Current bank savings account balance is >$4,000
1. Transfer $1,005 from savings to Venmo/PayPal and let the transfer settle
2. Then transfer the $1,005 to new WF Checking account from Venmo/PayPal and let sit
3. Transfer another $1,000 to Venmo/PayPal from savings and let settle
4. Then transfer another $1,000 from Venmo/PayPal to new WF checking account
5. Transfer $2,000 from WF Checking to original Savings account (leaving $5 balance)
6. Transfer $1,000 as in steps 3-4 two separate times
7. Transfer $1,000 as in step 5 two separate times

This keeps a balance of $5, over the $0 terms WF has and the Venmo/PayPal transfer is seen as a direct deposit, as long as not doing a wire transfer type of thing.

If wanting to make it look more like a DD, I would do the transfers weekly or bi-weekly.
Reply
Joined Mar 2007
L3: Novice
> bubble2 280 Posts
110 Reputation
Hon3yBadger
02-06-2020 at 12:59 PM.
02-06-2020 at 12:59 PM.
My credit is locked, do I need to unfreeze for a soft pull? Do we know which credit bureau the soft pull is against.
Reply
Joined Mar 2006
L8: Grand Teacher
> bubble2 3,243 Posts
709 Reputation
henny
02-09-2020 at 06:24 AM.
02-09-2020 at 06:24 AM.
So, they'll send out a 1099MISC? There goes a big chunk of the $400.

You are responsible for any federal, state, or local taxes due on the bonus, and we will report as income to the tax authorities if required by applicable law.
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Joined Jun 2004
L8: Grand Teacher
> bubble2 3,305 Posts
649 Reputation
strange_kiddo
02-09-2020 at 06:27 AM.
02-09-2020 at 06:27 AM.
Quote from henny :
So, they'll send out a 1099MISC? There goes a big chunk of the $400.

You are responsible for any federal, state, or local taxes due on the bonus, and we will report as income to the tax authorities if required by applicable law.
They will send out 1099INT. Counts as interest.
Reply
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