Wells Fargo is the fourth-largest bank in the country and frequently offers incentives to bring new customers in the door. Right now, you can earn a $300 bonus by opening a new Everyday Checking account and receiving $1,000 in direct deposits, for an above-average return of 30%. That makes this one of the best bank bonuses currently available. The lineup of Wells Fargo bank promotions is always changing, and you can earn a tidy little bonus if you time things right while shopping for a new bank account. Open a New Account × The offers that appear in this table are from partnerships from which we receive compensation. For more details, see our full advertiser disclosure. Institution Apy Min. To Earn Apy Highlights Open a New Account × The offers that appear in this table are from partnerships from which Dotdash receives compensation. Wells Fargo Bank Promotions: September 2024 Wells Fargo Bank Promotions: September 2024 Compare Promos Are Wells Fargo Bank Bonuses Worth It? Pros and Cons Alternatives FAQs How to Get the Bonus Bonus Restrictions and Account Fees How to Get the Bonus Bonus Restrictions and Account Fees How to Get the Bonus Bonus Restrictions and Account Fees In the News: In October 2023, Wells Fargo announced stronger-than-expected results with a significant jump in profits, bringing in $5.8 billion in the third quarter of 2023. Due to its strong consumer business and the surprising resilience of the economy so far this year, Wells Fargo's stock price has steadily increased since April, and as of December 2023, its quarterly dividend is $0.35 per share. Wells Fargo offers bank accounts nationwide, with physical branches in 36 states and D.C. If you've been thinking about opening a new checking account, now could be a good time to do so. The Everyday Checking account promotion—a $300 bonus for $1,000 in direct deposits—provides a 30% return on your deposit, which is quite a bit better than the median return of about 18% among personal checking bonuses we track. And although this isn't the absolute best bank bonus available, the bonus amount is equal to the median bonus amount, so you won't be missing out on more money. The Premier Checking account, however, doesn't offer a premier bonus. You have to deposit an extremely high amount of $250,000 to earn just $2,500, for a 1% return on your deposit. You can do much better elsewhere if you care more about the bonus than the actual checking account, although if you've had your eye on this account it could be a good time to apply. Pros Quick bonus disbursem*nt Solid bonus amounts Reasonable fee waiver for accounts like Everyday Checking Cons Significant direct deposit requirements Bonus requirements separate from fee waivers No interest paid on most accessible checking account Be sure to set aside a portion of any bonuses you receive from opening a new bank account, as the bonus is taxable as income. The bank will send you Form 1099-INT. If you aren't eligible for a Wells Fargo bonus offer or would prefer to work with another bank, consider these alternatives to earn extra money. Remember that wherever you place your savings, the returns must keep up with the inflation rate, or you lose buying power. Wells Fargo has a less-than-stellar reputation for customer service. Wells Fargo was in position eight out of nine banks in J.D. Power's 2023 U.S. National Banking Satisfaction Study. Yes, any bonuses you earn from opening a new account with Wells Fargo (or any other bank) are considered taxable income. At the end of the year, Wells Fargo will issue you a tax form that you can use to report that income on your tax return. You can find some Wells Fargo bank promotions advertised on its website. Some of its other bank promotions aren’t quite so easy to find, although we can point you to the correct location. The current Wells Fargo bank promotions aren’t bad, but they’re not the best. Currently, Wells Fargo is only offering two promotions, and they’re for the same account. Wells Fargo isn’t offering any promotions for its other accounts, even business bank accounts. Wells Fargo bank promotions are a bit lacking compared to other big banks. Chase Bank promotions, for example, are currently more widely available for different types of bank accounts, and the promotion bonus amount may be higher too. Although the terms vary by promotional offer, Wells Fargo generally pays out bonuses for opening new accounts within 30 days after meeting the offer's requirements. Once you've met the promotional offer requirements, such as deposits and average balance maintenance, Wells Fargo will deposit the bonus amount into your new bank account. To qualify for Wells Fargo's highest bonus offers, you will likely need to qualify for and open a new high-net-worth account of some kind, such as the Wells Fargo Premier Checking account, which provides a suite of financial products and services. Every business day, Investopedia tracks 23 banks and the current, new, extended, and expired account bonuses they offer customers. Banks are chosen based on consumer interest and we add banks to our list as needed to ensure we're always reporting on the best bank bonuses. We update our picks for thebest bank account bonuses, thebest checking account bonuses, and thebest savings account bonusesas needed, chosen based on bonus amounts, bonus requirements, and account features. We aim to provide you with news about checking and savings account bonus offers so you can take advantage of them as soon as possible. Article Sources Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in oureditorial policy. Board of Governors of the Federal Reserve System. "Large Commercial Banks." Wells Fargo. "Wells Fargo Reports Third Quarter 2023 Net Income of $5.8 billion, or $1.48 per Diluted Share." Wells Fargo. "Dividends and Stock Price." Wells Fargo. "ATM and Banking Locations." Wells Fargo. "What Do You Need to Open or Close a Bank Account?" Wells Fargo. “Get a $300 Checking Bonus.” FDIC. "National Rates and Rate Caps." Treasury Direct. "I Bonds." J.D. Power. "J.D. Power 2023 U.S. National Banking Satisfaction Study." Internal Revenue Service. "Instructions for Forms 1099-INT and 1099-OID," Related Terms Deposit Interest Rate: Definition, Fixed Vs. Variable A deposit interest rate is the interest rate paid to deposit account holders for accounts like certificates of deposit (CD) and savings accounts. more Sweep Accounts Definition: Types and How They Work A sweep account automatically transfers amounts over or below a certain level into a higher interest-earning investment option. more Christmas Club: Overview, History, Example A Christmas club is a savings account to help people save for the holidays. Money is deposited throughout the year and withdrawn before the holidays. more Negotiable Order of Withdrawal Account: Overview, History A Negotiable Order of Withdrawal (NOW) Account is an interest-earning bank account. A customer with this type of account can write drafts against money held on deposit. more Individual Development Account (IDA): What it is, How it Works An Individual Development Account (IDA) is a savings account to help lower-income individuals build assets to achieve financial stability. more What Is a Payday Loan? How It Works, How to Get One, and Legality A payday loan is an expensive short-term loan based on your income. moreWells Fargo Promotions: September 2024
Wells Fargo : Everyday Checking – $300
Wells Fargo : Premier Checking Account – $2,500
Wells Fargo : Savings Accounts – $525 [EXPIRED]
Compare Wells Fargo Promotions
Promotion Bonus Amount Promotion Expiry Qualifications Everyday Checking $300 September 25, 2024 Direct deposit Premier Checking $2,500 September 24, 2024 Deposit, maintain balance Savings Account $525 September 26, 2023 [EXPIRED] Direct deposit In the News
Are Wells Fargo Bank Bonuses Worth It?
Pros and Cons of Wells Fargo Bank Promotions
Pros Explained
Cons Explained
Alternatives to Wells Fargo Bank Promotions
Frequently Asked Questions
Are Wells Fargo Promotions Taxed?
How Do You Find Wells Fargo Promotions?
Are Wells Fargo Promotions a Good Deal?
How Do Wells Fargo Promotions Compare to Other Bank Promotions?
When Will I Get My Wells Fargo Bonus?
How Do I Get My Bonus From Wells Fargo?
How Do I Get a Higher Bonus From Wells Fargo?
How We Track Bank Account Bonuses
Wells Fargo CD Rates: September 2024 Wells Fargo Savings Account Interest Rates: September 2024 Capital One Bonuses: September 2024 USAA Bank CD Rates: September 2024 Capital One CD Rates: September 2024 USAA Savings Account Interest Rates: September 2024