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Wells Fargo New Saving account $525 Bonus with 25K deposit

+5 Deal Score
26,384 Views
Enjoy a
$525
Savings
Bonus *
Offer expires June 27, 2023

Open a new Way2Save® Savings account**, or other eligible consumer savings account, with a minimum opening deposit of $25 and complete the steps outlined below to receive your $525 bonus. This offer is for new savings customers only. See how to avoid the $5 monthly service fee on the Way2Save Savings.

Enter your email address to get the bonus offer code to provide to a banker at account opening. This bonus offer code will also be sent to you via email.


Complete these steps to get the $525 bonus:*
Offer expires June 27, 2023

1. Open
Open a new eligible consumer savings account at a Wells Fargo branch with a minimum opening deposit of $25 by June 27, 2023. You must provide the bonus offer code to the banker at the time of account opening.

2. Complete
Bring $25,000 or more in new money to your new savings account by Day 30 and maintain at least a $25,000 balance through Day 90 after account opening.

3. Enjoy
We will deposit your bonus into your new savings account within 30 days after you have met all offer requirements.

https://accountoffers.wellsfargo....vingsbonus
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Deal
Score
+5
26,384 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.

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Joined Nov 2017
L3: Novice
> bubble2 219 Posts
37 Reputation
wi2la
06-08-2023 at 11:23 AM.
06-08-2023 at 11:23 AM.
Input email, but didn't receive the code.
Reply
Joined Feb 2019
New User
> bubble2 114 Posts
30 Reputation
JayG17
06-08-2023 at 12:11 PM.
06-08-2023 at 12:11 PM.
Quote from zmantmh :
8.5167%
525 divided by 2 (60days) gives 262.50 per month. Annualize this is 3150 and divide by $25k gives an annualized rate of 12.6%
2
Reply
Joined Aug 2015
L3: Novice
> bubble2 197 Posts
14 Reputation
muthukumaran.1234
06-08-2023 at 01:18 PM.
06-08-2023 at 01:18 PM.
Wait, 25K @ say 5% compounded daily for 2.25 months is 235.46 (if you put that in say a 3 month treasury security) & take out state tax (say 15%) it comes to 200.14.

For this one, 25K @ 0.15% is 7.03 add the 525 and its 532.03. & take our tax (federal say 25% & state say 15%) it comes to 319.23.

Difference is 119.09. Question is if 120 bucks is worth the hassle of opening, setting up transfers & closing.
Reply
Joined May 2012
L5: Journeyman
> bubble2 1,359 Posts
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nova_and_onyx
06-08-2023 at 01:27 PM.
06-08-2023 at 01:27 PM.
anyone got 25k to lend me?
1
2
Reply
Joined Aug 2015
L3: Novice
> bubble2 197 Posts
14 Reputation
muthukumaran.1234
06-08-2023 at 01:34 PM.
06-08-2023 at 01:34 PM.
Quote from muthukumaran.1234 :
Wait, 25K @ say 5% compounded daily for 2.25 months is 235.46 (if you put that in say a 3 month treasury security) & take out state tax (say 15%) it comes to 200.14.

For this one, 25K @ 0.15% is 7.03 add the 525 and its 532.03. & take our tax (federal say 25% & state say 15%) it comes to 319.23.

Difference is 119.09. Question is if 120 bucks is worth the hassle of opening, setting up transfers & closing.
Perhaps i should have out the tax rate at 10% instead of 15%, but it doesn't matter in the case of 10% difference is still 133.91 ~134 bucks
Reply
Joined Jul 2014
L6: Expert
> bubble2 1,159 Posts
3,816 Reputation
Marcus305
06-08-2023 at 03:18 PM.
06-08-2023 at 03:18 PM.
Keep in mind that you may need to pay taxes on this bonus.
Reply
Joined Sep 2015
L3: Novice
> bubble2 169 Posts
44 Reputation
jaderxiii
06-08-2023 at 06:01 PM.
06-08-2023 at 06:01 PM.
Quote from ElKarl :
If I had 25K it wouldn't be in a bank account. It would be invested.
this is mostly for people who keeps emergency money separate and transfer to banks like this for easy withdrawal in case of emergency
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Joined Apr 2018
L6: Expert
> bubble2 1,685 Posts
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krnprogamer
06-08-2023 at 06:19 PM.
06-08-2023 at 06:19 PM.
Quote from freshsqueezed :
Approx 8%, yet I would never recommend opening an account with Wells Fargo. Not only because of their past, but you will never get them to stop marketing products and services they are relentless.
I have both their credit card and checking account and have received one "marketing" email from them in the past year. And it was about this savings promotions.
1
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Joined Dec 2010
L7: Teacher
> bubble2 2,394 Posts
269 Reputation
coachclass
06-08-2023 at 08:22 PM.
06-08-2023 at 08:22 PM.
Crooked company. But otherwise good deal.
Reply
Joined Mar 2013
L2: Beginner
> bubble2 49 Posts
26 Reputation
euuser2255784
06-08-2023 at 09:53 PM.
06-08-2023 at 09:53 PM.
For anyone considering, keep in mind this is NEW money. If you recently took advantage of the $325 checking offer, moving money from that account (or any Wells Fargo account) will not count. There's also no reason to compare interest rates, if you keep the money in for the minimum required time this beats any interest rate offered by anyone. An extra $525 in the other accounts that could get you 5% afterwards is just even more money for you. Not sure how opening a bank account is too much of a hassle for anyone, it takes minutes to set this up.
Reply
Last edited by SlickDanTheDealer June 9, 2023 at 08:59 AM.
Joined Mar 2013
L2: Beginner
> bubble2 49 Posts
26 Reputation
euuser2255784
06-08-2023 at 09:53 PM.
06-08-2023 at 09:53 PM.
Quote from coachclass :
Crooked company. But otherwise good deal.
First time hearing about banks?
Reply
Joined Mar 2005
L4: Apprentice
> bubble2 437 Posts
38 Reputation
nrg
06-08-2023 at 10:08 PM.
06-08-2023 at 10:08 PM.
Quote from ElKarl :
If I had 25K it wouldn't be in a bank account. It would be invested.
Invested in what? Let me know and I'll move 25k from my business account to there.
Reply
Joined Aug 2015
L3: Novice
> bubble2 197 Posts
14 Reputation
muthukumaran.1234
06-08-2023 at 10:13 PM.
06-08-2023 at 10:13 PM.
Quote from SlickDanTheDealer :
Maybe this is why so many Americans are screwed if something unexpected comes up? Sure, keep your savings that you could need at any moment tied up in a volatile stock market or anywhere else that could take days to get out. That's never gone poorly for anyone!

Don't invest money you can't afford to lose. If you don't have $25k, you sure as hell can't afford to lose it. I'm quite sure anyone who is able to move $25k over for this bonus has plenty of money elsewhere, too.

For anyone considering, keep in mind this is NEW money. If you recently took advantage of the $325 checking offer, moving money from that account (or any Wells Fargo account) will not count. There's also no reason to compare interest rates, if you keep the money in for the minimum required time this beats any interest rate offered by anyone. An extra $525 in the other accounts that could get you 5% afterwards is just even more money for you. Not sure how opening a bank account is too much of a hassle for anyone, it takes minutes to set this up.
Agree that this beats the interest rate, which in real terms is a difference of 125 to 150 bucks (134 in my calculation assuming CA state tax). But i am not sure we can say this can be setup in minutes, perhaps if it was online yes, but this one requires a branch visit.
Reply
Joined Mar 2011
L9: Yeti
> bubble2 5,977 Posts
761 Reputation
The_Doug
06-08-2023 at 10:22 PM.
06-08-2023 at 10:22 PM.
Quote from Tigga573 :
In my experience it's a pretty big pain to move money back out of a WF account since they limit the amount you can transfer every 30 days. Combine that with WF's reputation and this just isn't worth anywhere near the hassle and risk it requires.
The reputation is what kills this for me. When I was in high school, the stole a couple hundred out about once a year. We'd complain, but the money never went back. Eventually they switched banks. I'm fine with never going back.
1
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Joined Mar 2011
L9: Yeti
> bubble2 5,977 Posts
761 Reputation
The_Doug
06-08-2023 at 10:23 PM.
06-08-2023 at 10:23 PM.
Quote from SlickDanTheDealer :
...Not sure how opening a bank account is too much of a hassle for anyone, it takes minutes to set this up.
But years to undo.
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