In early 2018, Middle Age Miles received a targeted offer from Wells Fargo for a $500 sign-up bonus for opening a new Wells Fargo business checking account. We have successfully received the bonus now, so I am providing this data point on the offer and the steps necessary to achieve the bonus.
Terms of the Wells Fargo Business Checking Offer
Wells Fargo’s targeted offer to Middle Age Miles was as follows:
- Open a Wells Fargo business checking account in-branch or by phone, by April 2, 2018 (we opened the account in-branch)
- Bring the offer letter and required documents (see wellsfargo.com/businessdocuments) to a Wells Fargo branch
- Make a minimum opening deposit of $25
- Within 60 days of account opening, deposit a cumulative total of $2,000 into the new business checking account
After our experience with opening a Chase business checking account a few months earlier, Philly and I knew that we should both show up in-person at our local Wells Fargo branch to open this account, since we are co-owners of Middle Age Miles LLC. And we learned that it was indeed necessary for both of us to be present and physically sign the account documents.
The account opening process went smoothly, and the new account was successfully opened with a $100 initial cash deposit.
Meeting the Account Bonus Terms
Beyond opening the account and the initial deposit, the only other term required for the bonus was that we needed to deposit a cumulative total of $2,000 into the new account within 60 days of opening the account. We met this by transferring $10,000 into the account on 4/16/2018.
When Did the Bonus Post?
As you can see here, after we fulfilled the last term of the offer by depositing $10,000 on 4/16/2018, the $500 new account bonus posted very quickly – only 2 days later on 4/18/2018. The terms of the Wells Fargo offer said only that the bonus would be deposited within 45 days after the terms and conditions had been satisfied, so I was quite surprised to see the bonus show up so quickly. Well-done, Wells Fargo!
I hope that you find this data point helpful in obtaining your own Wells Fargo new account bonuses! If you have additional data points on Wells Fargo new account bonuses, please share them in the Comments.