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Wells Fargo Business Checking - $1500 bonus with $5K balance for 60 days (must open account in branch)

+20 Deal Score
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Open a new Wells Fargo Initiate Business Checking, Navigate Business Checking, Optimize Business Checking or Analyzed Business Checking account with a minimum opening deposit of $25 by May 13, 2022.
  1. Open a new, eligible business checking account at a Wells Fargo branch with a minimum opening deposit of $25 by 05/13/2022. You must provide the bonus offer code to the banker at the time of account opening.
  2. Have at least $5,000 ending daily balance in your new business checking account on the 30th calendar day and the 60th calendar day after account opening.
  3. We will deposit the bonus into your new business checking account within 30 days after meeting all offer requirements.


https://bonusoffer.wf.com/smallbi...ingoffer3a
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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.

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Joined Mar 2004
L10: Grand Master
> bubble2 6,660 Posts
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practicalme
04-11-2022 at 05:44 PM.
04-11-2022 at 05:44 PM.
Quote from Splash15 :
Not sure if things have changed, but back in the day you can open up a sole proprietor account with your social and not require a TIN/EIN.
A SS# is a TIN.
2
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Joined Aug 2013
L6: Expert
> bubble2 1,083 Posts
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TalA9559
04-11-2022 at 05:51 PM.
04-11-2022 at 05:51 PM.
Quote from munkae :
be aware of my recent experience with Wells Fargo. Tried opening a wells fargo account mid march after getting a mailer from them. Mailer said I could get a $325 bonus by opening personal checking account. Opened the account at night, was approved said I qualified for the bonus, etc. The next morning I get an email from their fraud department that they closed my account. When I called them, they told me it was a "business decision" to close my account (essentially that they don't want to do business with me). There was no way to keep it open. Anyway, when I set up the account I ACH transferred $200 from my other account. This ACH transaction still went through a few days later but never showed up in Wells Fargo because the account was already closed.

Been back and forth with both banks. Wells Fargo tell me to call my bank because they have no record of the transaction. My other bank tells me to contact Wells because it's an ACH transaction. Bottom line is, money was debited from my account by Wells and they refuse to do anything about it. Tried everything. This very well could be Well Fargo's new scam.

I only transfer the minimum amount required which is usually $10-$25.
I'm sorry for your experience.
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Joined Nov 2015
L6: Expert
> bubble2 1,800 Posts
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sdpoker
04-11-2022 at 05:51 PM.
04-11-2022 at 05:51 PM.
Quote from tptiburon :
Doesn't look like the requirements are that tough to open, but there are a TON of fees for everything. You need a minimum of $5000 DAILY balance, (so never drop below that) but once you deposit more than your first $5k it looks like there's a fee on those deposits too.

The main fee I saw was the $75 monthly fee. But even if it takes them 3 months until they pay you (60 day minimum then 30 more days until bonus pays out), it's $1500 - $225 = $1275 gain in the end.

Here's the link to the requirements, and then there's a pdf of 14 pages of fees...yep 14 pages listing all the fees.

https://bonusoffer.wf.com/smallbi...ingoffer3a

The bonus is good, but with all those fees I feel there's a "gotcha!" buried in there somewhere. Wells isn't known for their upstanding banking practices...
"gotcha"! After they get $225 from you, they'll close your account due to "business decision". Wellsfargo is notorious for running scams like this, just like before when they just opened your credit card account without your authorization, the list goes on and on. They were fined 3 billion dollars for fake accounts but that's just pocket change for them.
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Joined Nov 2011
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> bubble2 26 Posts
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ybp
04-11-2022 at 05:54 PM.

Our community has rated this post as helpful. If you agree, why not thank ybp

04-11-2022 at 05:54 PM.
I did a Wells Fargo deal posted on slickdeals a few years ago for a tiny $200 bonus for a new bank account with cashwise card. I was not happy with it. A year later if I remember right they starting charging all sorts of minimum balance fees, etc. I went into the branch personally and met with the manager and had my account closed. It took about an hour and I had to show as much paperwork as getting a passport. The only problem is that I found out a few months later they kept all my accounts open and even issued a low-security debit card although the credit card was canceled. There was no money in the bank, however, and as far as I know there haven't been an more fees deducted from my zero balance. But now, a few years later, about a month ago, I just received a new cashwise credit card from them. They never closed my account. And then they reopened my credit card account without asking too. I would sue them, but I just don't have time. Wells Fargo is totally not to be trusted at all.
1
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Joined Aug 2011
L6: Expert
> bubble2 1,924 Posts
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robrob777
04-11-2022 at 06:02 PM.
04-11-2022 at 06:02 PM.
Better than when i got 1000 at chase... But it was 15k deposit
Reply
Joined Jul 2010
L9: Master
> bubble2 5,029 Posts
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BuddyLove99
04-11-2022 at 06:40 PM.
04-11-2022 at 06:40 PM.
Quote from munkae :
be aware of my recent experience with Wells Fargo. Tried opening a wells fargo account mid march after getting a mailer from them. Mailer said I could get a $325 bonus by opening personal checking account. Opened the account at night, was approved said I qualified for the bonus, etc. The next morning I get an email from their fraud department that they closed my account. When I called them, they told me it was a "business decision" to close my account (essentially that they don't want to do business with me). There was no way to keep it open. Anyway, when I set up the account I ACH transferred $200 from my other account. This ACH transaction still went through a few days later but never showed up in Wells Fargo because the account was already closed.

Been back and forth with both banks. Wells Fargo tell me to call my bank because they have no record of the transaction. My other bank tells me to contact Wells because it's an ACH transaction. Bottom line is, money was debited from my account by Wells and they refuse to do anything about it. Tried everything. This very well could be Well Fargo's new scam.

Eff you Wellsfargo. No new accounts with you. I'm sure my mattress won't treat me like this.
Reply
Joined Aug 2014
L7: Teacher
> bubble2 2,184 Posts
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Cmurphy16
04-11-2022 at 07:25 PM.
04-11-2022 at 07:25 PM.
Quote from ybp :
I did a Wells Fargo deal posted on slickdeals a few years ago for a tiny $200 bonus for a new bank account with cashwise card. I was not happy with it. A year later if I remember right they starting charging all sorts of minimum balance fees, etc. I went into the branch personally and met with the manager and had my account closed. It took about an hour and I had to show as much paperwork as getting a passport. The only problem is that I found out a few months later they kept all my accounts open and even issued a low-security debit card although the credit card was canceled. There was no money in the bank, however, and as far as I know there haven't been an more fees deducted from my zero balance. But now, a few years later, about a month ago, I just received a new cashwise credit card from them. They never closed my account. And then they reopened my credit card account without asking too. I would sue them, but I just don't have time. Wells Fargo is totally not to be trusted at all.

What's a minimum balance fee on a credit card? Cash Wise is a no annual fee credit card.
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Joined Nov 2015
L5: Journeyman
> bubble2 751 Posts
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desijunkie
04-11-2022 at 07:30 PM.
04-11-2022 at 07:30 PM.
Some people said wellsfargo opens accounts without permission.
Some people said 30% return on investment. Too good to be true.
Some people just hate WellsFargo and thus don't want to do business with them.

Guys, Banks running promotions is common. This just happens to be too good of an offer.
If you hate wellsfargo, open the account with them with the exclusive purpose of getting the bonus and then close the account. I would totally do it if I am eligible to have business accounts (I am on H1B visa, so not allowed to have business accounts).

EDIT : From what I hear, they ask for a lot of documents about your business to open an account with them. So, you need to have a legitimate business.
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Last edited by desijunkie April 12, 2022 at 07:54 AM.
Joined Jun 2005
L8: Grand Teacher
> bubble2 3,358 Posts
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CT200H
04-11-2022 at 07:31 PM.

Our community has rated this post as helpful. If you agree, why not thank CT200H

04-11-2022 at 07:31 PM.
Wells Fargo is trash. Please do your due diligence.
1
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Joined Nov 2011
L2: Beginner
> bubble2 26 Posts
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ybp
04-11-2022 at 07:39 PM.
04-11-2022 at 07:39 PM.
Quote from Cmurphy16 :
What's a minimum balance fee on a credit card? Cash Wise is a no annual fee credit card.
My credit card never had any fees and no late payments. It was the account that that I had to open as well that had fees, minimum deposits, etc. It has been a while, so I don't remember the details, just that it was horrible.
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Joined Jan 2014
L3: Novice
> bubble2 189 Posts
26 Reputation
hello232
04-11-2022 at 07:49 PM.
04-11-2022 at 07:49 PM.
I have had many accounts with WF and other banks. Consistently have had problems with WF over the years and even in different states. Everything with them is a hassle. Not worth it in my opinion
1
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Joined Aug 2014
L7: Teacher
> bubble2 2,184 Posts
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Cmurphy16
04-11-2022 at 07:54 PM.
04-11-2022 at 07:54 PM.
Quote from ybp :
My credit card never had any fees and no late payments. It was the account that that I had to open as well that had fees, minimum deposits, etc. It has been a while, so I don't remember the details, just that it was horrible.

Oh, that makes more sense. I just went through a bonus with them. Just had to make sure to keep $500 in the account to avoid fees. Have had no issues with any of their products. Just my experience.
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Joined Jan 2013
L1: Learner
> bubble2 14 Posts
10 Reputation
MelissaRinehart
04-11-2022 at 07:55 PM.
04-11-2022 at 07:55 PM.
Quote from pcmax :
Temporarily closed in my city hmmm!

Where do you live?
Reply
Joined May 2005
hackdagibson
> bubble2 605 Posts
94 Reputation
teckel1927
04-11-2022 at 07:57 PM.
04-11-2022 at 07:57 PM.
Plot twist you already have an account open Big Grin
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Joined Dec 2016
L4: Apprentice
> bubble2 392 Posts
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k9thunderspg
04-11-2022 at 08:02 PM.
04-11-2022 at 08:02 PM.
Got the targeted offer by mail for $1,250 last Dec. Got $1,250 deposited right after 30-days.

The local banker was surprised saying he's only seen such a generous offer just once. It's actually a decent business account as free wire transfers if $15k is maintained.

Call and make a reservation as it took me 6 weeks to meet with the local WF business account manager as not all WF branch has a business account manager. You need proof of business which in my case was LLC filing that costed $300.
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