Table Of Content
Wells Fargo has been around for over 160 years, but it is not taking getting new customers for granted. This bank has a number of promotions to encourage you to open new accounts and bring your business to them.
Before we drill down to every promotion, let's summarize the most important questions asked by our readers:
Wells Fargo does not currently have any savings account promotions.
Yes, there is currently a welcome bonus of $325 if you open a checking account and meet the promotion requirements.
Wells Fargo does periodically have business account promotions, but there is not currently a promotion in place.
There are not currently any Wells Fargo brokerage promotions, but the bank has lowered the minimum requirement to open an Intuitive Investor account to $500 from the previous $5,000.
The only and therefore the largest new account promotion is the $325 for opening a personal checking account and meeting the criteria.
The largest Wells Fargo credit card promotion is with the Hotels.com card. You’ll receive three free reward nights with a value of up to $375 if you spend $1,000 or more within the first 90 days of opening your card account.
There are no CD promotions at this time.
The Reflect credit card has 0% APR for 18 months on both purchases and qualifying balance transfers. However, this can be extended for up to a further three months if you make your minimum payments on time. This totals a maximum 21 months at 0% APR.
If your account is not in good standing or you close the account before the end of the promotional period, Wells Fargo may take back your bonus.
There are currently no Wells Fargo promotions on loan products.
No, there are no promo codes for welcome offers and bonuses.
The full terms and conditions for each product and promotion are listed on the website, but if you are still unsure, you can speak to a member of the customer service team on the phone or in branch.
Wells Fargo offers a single banking promotion on its Everyday checking account. Here are the main things you should know:
Promo: You can receive a $325 bonus when you open an Everyday Checking account. You can expect to receive your bonus within 30 days of meeting the qualification requirements.
Requirements: You need to open a new Everyday Checking account with at least $25. You also need to receive a minimum of $1,000 in qualifying direct deposits in the first 90 days. Qualifying direct deposits include ACH deposits of salary, Social Security, pension or other regular income.
Product Info: As the name suggests, the Everyday Checking account is designed for managing your day to day finances. The account has mobile access, Zelle digital payments, free Wells Fargo ATM transactions and a contactless debit card.
Terms and Conditions: This promotion is only available to new Wells Fargo checking account customers with an expiration of 9/26/2023. If you currently have a checking account or have received a personal checking account bonus during the last 12 months, you are ineligible for this offer. Additionally, Wells Fargo requires the new account remain open for the full 90 day qualification period. To receive the bonus, the account must be open and in good standing.
What are Wells Fargo products inflation-proof?
Wells Fargo offers fixed rates on loans and mortgages, allowing you to lock in your rate. This means that even if the rate of inflation increases shortly, you don’t need to worry about the loan cost increasing. For the duration of your loan or mortgage, your monthly repayments can be fixed at the same amount. This can be a massive reassurance when inflation is making the rest of your household expenses increase.
How's Wells Fargo's physical coverage?
Wells Fargo has massive coverage as one of the “Big Four” U.S banks. This bank has over 8,000 branches across the United States. It also has an ATM network with more than 13,000 machines. This means that whatever state you’re in, you’re sure to find a local branch nearby.
What is required to open a Wells Fargo account?
Like most financial institutions, you must provide proof of your identity and address. You will need to provide personal details, including your current mailing address and contact details, such as your phone number, email address, and Social Security number. The acceptable forms of ID are pretty standard and include state-issued photo IDs, a U.S passport, a driver’s license, or a military photo ID.
What Does Wells Fargo offer if I'm a student?
Wells Fargo has a decent line of products designed for students. Teens aged 13+ can open a Clear Access checking account, a checkless account that offers a debit card and digital payments with no overdraft fees. Those aged 17+ can also open adult checking accounts, but this may need to be done in the branch.
Wells Fargo offers excellent savings accounts and student loans, with relationship discounts for qualifying products.
Can I open a Wells Fargo checking account online?
You can open a Wells Fargo bank account by phone, in person, or online. The Wells Fargo Online platform allows you to open a checking account in only a few minutes. You can also use the portal to check your account application status or finish your application if you cannot finish it in one session.
Does Wells Fargo offer a free checking account?
While there are several Wells Fargo checking account options, they all attract a monthly service fee. However, it is possible to waive the service fee by meeting the criteria. This includes maintaining a minimum daily balance of $500, having $500+ in qualifying direct deposits, linking a Wells Fargo Campus Debit Card, or being under 24.
How to Open a Wells Fargo Bank Account
You can open a Wells Fargo bank account in branch or online. The online process is quite straightforward.
You can browse the products and account options. If you decide on an account you would like to open, you can begin the process by clicking the “Open Account” button.
- Complete the required fields: Once the welcome screen for the product opens, you'll see a basic form that asks if you’re an existing customer and if you want to open a sole or joint account. You will also need to confirm you’ve read the disclaimer before clicking continue.
- Fill in the application: This is fairly standard, as you’ll need to provide your full name, address, contact details, and Social Security Number. You will also need to consent to a credit search, where appropriate and confirm if you are subject to W-9 backup withholdings.
- Review the options: Once you complete the application, you will have an opportunity to review the options and account terms.
- Fund the account: Finally, you’ll be directed to a funding page where you can provide the initial deposit and complete the account opening process.
Things to Consider For When Opening an Account
There are several Wells Fargo checking account options, so before you decide to open one, there are several things to consider.
- Is the Bonus Worth It? Currently, only one Wells Fargo checking account offers a welcome bonus, so you will need to assess if the bonus has value for you. On the face of it, a $200 bonus is great, but you may find the perks of other accounts represent better value for you.
- Qualifying Transactions: Another important thing to watch for is what is considered a qualifying transaction. If you fund your account with payments that are not direct deposits, you may struggle to qualify for the bonus. In this case, another Wells Fargo checking account may be worth considering.
- Fees and Charges: As with any bank account or financial product, you should check what fees and charges may apply to your account. Look particularly at ATM and overdraft fees.
- Fee Waiver Criteria: There is a monthly maintenance fee for each Wells Fargo account, but it may be possible to have the fees waived. However, the fee waiver criteria varies for each account and you need to check that you can comfortably meet them to avoid paying fees.
Wells Fargo Credit Card Promotions
Wells Fargo has a great selection of credit card products, but there are a number that have introductory promotions and bonuses for new customers. These include:
The Active Cash card offers $200 cash rewards bonus when you spend $500 in purchases in the first 3 months. There is also a 0% APR for the first 15 months on purchases and qualifying balance transfers.
This card is ideal for those who are looking for a simple rewards card. There are no reward categories or complicated reward calculations. You simply earn an unlimited 2% cash reward with no category limitations or category activations. There is also no annual fee.
You can redeem your rewards for eligible purchases, statement credit for credit card or mortgage accounts, checking account deposit, ATM cash, and gift cards.
The Wells Fargo Reflect card has 0% APR for the first 18 months on purchases and balance transfers. The intro rate can also be extended for a further three months if you make on time minimum payments during the promotional period.
This card is ideal if you want to pay down a credit card balance or are planning a large purchase. The card has no annual fee and there is potentially 21 months of interest free credit.
The Wells Fargo Autograph credit card offers 30,000 bonus points, worth approximately $300 if you spend $1,500 in the first three months. There is also 0% APR for the first 12 months for purchases.
This is a good credit card option if you want to earn rewards on everyday spending without needing to pay an annual fee. The card has a tiered reward structure, but you can earn at least one point per dollar on your purchases.
You can redeem your rewards for travel including flights, hotel stays and car rentals, gift cards, and PayPal purchases and reimbursement for eligible purchases.
Hotels.com Rewards Visa
The Hotels.com offers new cardholders three free reward nights worth up to $375 if you spend at least $1,000 within 90 days of opening your account.
As the name suggests, this card is a great option for those brand loyal to Hotels.com. You’ll collect stamps for each night you stay at eligible properties booked using Hotels.com and stamps for your card purchases. The card has no annual fee, so you can simply use the card to accumulate stamps for your next vacation.
When you have accumulated 10 stamps, you’ll qualify for one reward night.
How to Pick the Best Wells Fargo Credit Card?
Although Wells Fargo does not have as many credit card products as some other banks, you may still struggle to decide which one is the best Wells Fargo card for you.
However, there are a few things to consider to narrow down your options.
- Simple or More Complicated Rewards: The first thing you need to consider is whether you prefer a simple reward structure or are prepared for more complicated rewards. If you prefer simplicity and just want to earn rewards on your purchases, the Active Cash is the best option.
- 0% APR: If you’re planning a large purchase or need to pay down a credit card balance, you should look at the 0% APR period. Most Wells Fargo cards have an introductory rate, but you may prefer a longer period at the cost of fewer or no rewards.
- Brand Loyalty: It is also worth noting that Wells Fargo has a Hotels.com card. So, if you are a frequent customer of this site, you could find this card beneficial.
- Bonus Value: You will also need to assess the value of the bonus for you. If you want to earn rewards for your everyday payments including rent, the Bilt Mastercard could appeal to you, but there is no intro offer.