Wells Fargo $200 Checking Bonus

Wells Fargo is offering a $200 bonus when you open a personal checking account! Learn more about this Wells Fargo promotion and complete the steps below to get the $200 bonus.

For more current bank offers, see our bank bonuses page. The most popular offers are from Chase BankSoFi, and Fifth Third Bank.

Ninja Update: Offer has expired. For current Wells Fargo offers, see our Wells Fargo promotions page.

Wells Fargo Checking $200 Bonus

Wells Fargo is offering new customers a $200 bonus when they open a new checking account and receive direct deposits totaling $1,000 or more within the first 90 days of account opening.

Wells Fargo $200 checking bonus offer
(Image from Wells Fargo)

How Do I Get The $200 Bonus?

Direct Link

The link above will bring you directly to Wells Fargo’s checking account bonus landing page. You have two ways to get the bonus:

  1. Apply online directly through the link or
  2. Click the “Open In-Branch” tab to get the bonus code by email and bring it with you to a local branch

Am I Eligible For The $200 Bonus?

You’re eligible for the $200 bonus if you’re considered a new Wells Fargo checking account customer, which means:

  • You don’t have an existing Wells Fargo consumer checking account
  • You haven’t received a Wells Fargo new checking account opening related bonus in the last 12 months

Additionally, you can’t be a current employee of the company.

If you satisfy those three conditions, then you can take advantage of this bonus offer.

What Are The Offer Details?

Availability: Nationwide
Expiration: 9/30/2021
Household Limit: None
Direct Deposit Required: Yes, $1,000 (see what counts as a direct deposit)
Soft/Hard Pull: Soft
Early Account Termination Fee: None

What Are The Fees?

The Wells Fargo Everyday Checking account has a monthly service fee of $10, but that can be waived when one of the following happens:

  • Receive deposits into the account totaling $500 or more each monthly statement cycle OR
  • Maintain a $500 minimum daily balance OR
  • Link the checking account to a Wells Fargo Campus ATM or Campus Debit Card

For information on other miscellaneous fees, read this PDF document that details everything you need to know about the Wells Fargo Everyday Checking account.

Bonus Terms & Conditions

Eligibility Requirements:

  • This offer is for new checking customers only. All Wells Fargo consumer checking accounts are eligible for this offer with the exception of checking accounts offered by Wells Fargo Private Bank.
  • You must use your bonus offer code at account opening when you apply for a new eligible Wells Fargo checking account.
  • You are not eligible for this offer if:
    • You are a current owner of a Wells Fargo consumer checking account
    • You have received a bonus for opening a Wells Fargo consumer checking account within the past 12 months
    • You are a Wells Fargo employee

Bonus Requirements:

  1. Open a new Wells Fargo consumer checking account with a minimum opening deposit of $25.
  2. Within 90 calendar days of account opening (the “qualification period”), receive a total of $1,000 or more in qualifying direct deposits to your new checking account.
    • A qualifying direct deposit is an ACH (Automated Clearing House) automatic electronic deposit of your salary, pension, Social Security, or other regular income into your bank account.
    • Transfers from one account to another, mobile deposits, or deposits made at a banking location or ATM don’t qualify as a direct deposit.

Bonus Payment:

  • Once the 90-day qualification period has elapsed, we will determine if you have met the offer requirements, and will deposit any earned bonus into your new checking account within 30 days.
  • The new checking account must remain open throughout the 90-day qualification period and at the time we attempt to deposit any earned bonus payment. Please note that an account with a zero balance may be closed by us without prior notice, as further described in the Deposit Account Agreement.
  • 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. Consult your tax advisor.

The Bottom Line

Wells Fargo has a higher $400 bonus offer, but that hasn’t been available since last summer.

If you’re not in a hurry, you can wait for that deal to come back. Personally, I’d do this offer instead of holding out. Since Wells Fargo allows you to get a bank bonus once every 12 months, there’s a money cost for waiting.

I’ll add this offer to my list of the best bank bonuses.

About John Pham

John Pham is a personal finance expert, serial entrepreneur, and founder of The Money Ninja. He has also been fortunate enough to have appeared in the New York Times, Boston Globe, and U.S. News & World Report. John has a B.S. in Entrepreneurship and a Masters in Business Administration, both from the University of New Hampshire.

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1 year ago

When can I close the account after I received the bonus??