Wells Fargo Is Paying New Checking Account Customers up to $300. Here's How You Can Claim Yours (2024)

What if I told you that switching banks could earn you $300? It's not quite that simple, but it's pretty close. Wells Fargo is running a bonus for new checking account customers that lasts until Sept. 25, 2024, and the reward is impressive given the low deposit requirement.

If you're in the market for a new checking account, it's worth considering. Here's how to claim the bonus.

How to get a $300 checking account bonus from Wells Fargo

To get Wells Fargo's $300 checking account bonus, you need to meet a few requirements:

1. Open a new Wells Fargo Everyday Checking account with a minimum opening deposit of at least $25 by Sept. 25, 2024. You'll need the bonus code from this page.
2. Receive at least $1,000 in qualifying direct deposits within 90 days of account opening.

This offer isn't available to current Wells Fargo checking account customers, Wells Fargo employees, or those who have received a Wells Fargo checking account bonus within the past 12 months.

For this bonus, transfers from one bank account to another, mobile deposits, Zelle payments, and deposits made at a bank branch or ATM do not count toward the $1,000 deposit requirement.

Those who can achieve the bonus will get their cash within 30 days of the end of the 90-day bonus period. This is pretty quick compared to some other bank account bonuses, so it could be a good fit for those interested in getting their cash quickly.

Is the Wells Fargo $300 bonus worth it?

The Wells Fargo $300 checking account bonus is among the most achievable checking account bonuses for its value. But that doesn't mean it's the right choice for you. Even if you manage to earn the cash, you'll still have the account in your name. Sure, you could close it after getting the bonus, but that's an extra hassle you may not want to deal with.

It's generally not a good idea to pursue any bank account bonus unless you actually like the account. The Wells Fargo Everyday Checking account has some desirable features, like the option to get your direct deposited funds up to two days early and an Extra Day grace period for overdrafts.

But it also has a $10 monthly maintenance fee. There are ways to waive this, but if you can't meet one of the requirements, this account could cost you more than it earns you. You also won't earn any interest on your checking account funds, like you could with some online checking or savings accounts.

Weigh the pros and cons before deciding whether it's the right move for you. It doesn't hurt to compare the Wells Fargo Everyday Checking account to other top checking accounts first to see whether it's your best option.

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