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Wells Fargo Checking Account $400 Bonus after Depositing $4,000 or more
https://bonusoffer.wf.c
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
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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Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser.
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154 Comments
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Stay away from this shithole of a bank. You will thank me later for it.
Got $400 last time, don't know if still quality new checking account for another $400
should be fine?
I am talking to customer service and he is saying paypal is not qualifying Direct Deposits. anyone call bs?
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Locking up $4000 for a year is not easier than making a few direct deposits and getting $400 in a few months. One entails you to put up your own capital and to put it at risk. In a market downturn that $4000 can go away. You have to take risk with your cash and it is locked up and not there if you need it.
In the other case you are just shifting liquid capital in the form of paychecks and assuming no risk at all. the $400 will come if markets go up or down and cash bank deposits are insured unlike the stock market. No upfront $4000, no risk and a guaranteed return..
Please don't offer bad financial advice. It's a serious matter and can end up badly for someone that can least afford it.
should be fine?
I am talking to customer service and he is saying paypal is not qualifying Direct Deposits. anyone call bs?
In your case a paycheck or other source of funds that was already deposited in one institution and is sitting in an account. You transfered funds from that account it to another account(Paypal) and then transferred it again to Wells Fargo. Only transfers happened. No "direct deposit" happened only a transfer and Wells Fargo is calling you on the bs.
Chill out, take a few breaths and do a little thinking and research before jumping in to any financial transaction. Not knowing the terms of something before getting into it can lead to catastrophe.
A qualifying direct deposit is a direct deposit of your salary, pension, Social Security, or other regular monthly income, electronically deposited through the Automated Clearing House (ACH) network to this checking account by your employer or an outside agency.
Transfers from one account to another, mobile deposits, or deposits made at a banking location or ATM do not qualify.
You are dealing with money people, take the time to read and shame on the OP for not filling in the details. It appears we have people moving around and getting declined already. It's not a bad deal if you can set it up and get it be be sure of what you are getting into. I'm quite sure that is they wanted to offer something for just opening an account and depositing to it they would have set the terms there. This one is designed to get consumers directly depositing into an account and that is direct from doing a transfer into an account.
Maybe I'm wrong on all this but I still urge some caution before you start transferring money around.
In your case a paycheck or other source of funds that was already deposited in one institution and is sitting in an account. You transfered funds from that account it to another account(Paypal) and then transferred it again to Wells Fargo. Only transfers happened. No "direct deposit" happened only a transfer and Wells Fargo is calling you on the bs.
Chill out, take a few breaths and do a little thinking and research before jumping in to any financial transaction. Not knowing the terms of something before getting into it can lead to catastrophe.
Paypal does ACH transfers. I'm just trying to find what would be the easiest which is I already have money in my account from another bank institution. But how does it work when a company I contract for uses PayPal to handle payments? This contractor doesn't deal with direct deposit to my bank institution anymore...
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I'm no expert on this deal and it appears that it has been around before and some have claimed they got it by way of recurring transfers. Maybe they will pipe in but from what I read I wouldn't be moving money around till the details are worked out. That's not a deal, just a headache and extra work.
Still think some mention of the details by the OP would have been nice. The comments in this thread are confusing and people are confusing transfers and direct deposit and I have no idea of how it will play, Wells Fargo holds the cards and trying to play fast with the terms may just get you headaches. From what you say the CSR is saying that appears to be the case.