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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 Jan 2020
L6: Expert
> bubble2 1,412 Posts
73 Reputation
SiennaDeer8270
04-13-2022 at 12:35 AM.
04-13-2022 at 12:35 AM.
Quote from xuyong9719 :
What if I don't have tin?
Buy some aluminum foil.
2
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Joined Jul 2007
L10: Grand Master
> bubble2 6,138 Posts
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skwishbot
04-13-2022 at 06:03 AM.

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

04-13-2022 at 06:03 AM.
Won't touch Wells Fargo with a 10 meter pole! They ought to be forcibly shut down with all the crap they pull on a regular basis.
1
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Joined Jun 2017
L2: Beginner
> bubble2 34 Posts
10 Reputation
Romanin279
04-13-2022 at 09:40 AM.
04-13-2022 at 09:40 AM.
Been waiting an incentivized deal for personal account. I been wanting to switch back to WF but not doing it without an incentive. If anyone knows any send my way!
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Joined Dec 2009
L6: Expert
> bubble2 1,193 Posts
106 Reputation
music3k
04-13-2022 at 11:53 AM.
04-13-2022 at 11:53 AM.
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.
Citi bank does something similar. I wouldnt use either of these banks
1
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Joined Aug 2014
L4: Apprentice
> bubble2 449 Posts
38 Reputation
besparsen
04-13-2022 at 02:44 PM.
04-13-2022 at 02:44 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.

Contact Consumer financial protection bureau. It will get resolved
Reply
Joined Jul 2013
L6: Expert
> bubble2 1,931 Posts
358 Reputation
AcemanX
04-13-2022 at 02:54 PM.
04-13-2022 at 02:54 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...

Um no, the initiate is 500 average balance, not 5k, and if you deposited 1 check of 5k there wouldn't be a fee for that either
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Joined Sep 2008
L4: Apprentice
> bubble2 321 Posts
1,044 Reputation
meyerovb
04-13-2022 at 04:39 PM.
04-13-2022 at 04:39 PM.
What specific documents do I need to bring to the bank to do this? (I have a LLC and EID)
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Joined Apr 2005
L2: Beginner
> bubble2 28 Posts
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JK84304
04-13-2022 at 05:31 PM.
04-13-2022 at 05:31 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.

You should be getting a check back from Wells Fargo. I would go into the branch for them to print you out your last transactions. If the $200 shows there, then have to withdraw with an override to get you your money back.
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Joined Nov 2011
L10: Grand Master
> bubble2 8,533 Posts
569 Reputation
iBoo
04-13-2022 at 05:35 PM.
04-13-2022 at 05:35 PM.
$5000 new money or can it be money from your existing wells fargo account like personal checkings?
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Joined Sep 2010
L3: Novice
> bubble2 121 Posts
27 Reputation
harrypotterx
04-13-2022 at 05:39 PM.
04-13-2022 at 05:39 PM.
I will never bank with Wells Fargo again.

10 years ago they ran the similar scheme where you get $100 bonus with $500 in the bank for the first 30days, in branch only.

Went into a branch and did all the paper work, and the agent told me I'm all set. Left the branch a happy man. Fast forward 30 days, no $100 bonus but got slapped with a bank fee for having a balance of under x amount, I forgot how much.
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Joined Dec 2007
L5: Journeyman
> bubble2 769 Posts
233 Reputation
Jon2288
04-13-2022 at 06:05 PM.
04-13-2022 at 06:05 PM.
Quote from Hrshycro :
Wow. That does sound like a new scam they'd pull... Now instead of opening up accounts for you, they incentivise you to open them yourself, then pull what they just pulled on you and keep the ACH money because they know it's a he said she said between the two banks over where the ACH money went.

Not quite, there are records for the transactions. If it's he said she said and you complain to the government regulators, they will get a huge fine if they can't prove it. Granted probably need more than 1 case to make it worth it for the government to investigate but if they do it routinely it will air out.
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Joined Jun 2019
L5: Journeyman
> bubble2 804 Posts
30 Reputation
BillG7
04-13-2022 at 06:22 PM.
04-13-2022 at 06:22 PM.
Customer service at this bank is the worst I have ever experienced out of several other banks. For instance, call them regarding an unknown charge and they will forward you to different departments, including the executive office who will tell you they will open a case and then send you a letter in the mail. After you receive the letter they will do nothing and tell you they can not see anything on their end and ask you to send them the error by physical USPS mail. They have a fax number, but it does not accept incoming faxes and does not work. They do not have an email address. They also have no coordination between departments. The executive office will send you voice messages that make no sense after you already called to resolve your issue with the financial office. Everything they do is unorganized and delayed. This bank is a nightmare. Stay away.
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Joined Nov 2017
L3: Novice
> bubble2 110 Posts
26 Reputation
crisplyvague
04-13-2022 at 06:25 PM.
04-13-2022 at 06:25 PM.
"It's a trap!"
Reply
Joined Mar 2009
L3: Novice
> bubble2 109 Posts
18 Reputation
sleepydaytrader
04-13-2022 at 07:59 PM.
04-13-2022 at 07:59 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.

this happened to me except it was for $5k. and it was to fund a brokerage account. basically your money is floating in limbo right now. the funds were transferred but it was stopped because there is no account for it to go to. it gets sent back but is automatically sent again to try again. after a while (i couldn't find out exactly how many times it goes back and forth and every time it is transferred there is a 3 day hold.) i got my money back but it took months! but i got same response as you, both banks were pointing fingers at each other.
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Last edited by sleepydaytrader April 13, 2022 at 08:03 PM.

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Joined Nov 2019
L1: Learner
> bubble2 21 Posts
VioletThread7890
04-13-2022 at 08:53 PM.
04-13-2022 at 08:53 PM.
I'd rather buy an NFT before banking with Wells Fargo.

Their revenue this quarter is down 21% so this bonus is them despite for a positive earning report for shareholders.
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Last edited by VioletThread7890 April 14, 2022 at 05:28 AM.
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