Wells Fargo Bonus Promotions: Nationwide $200 New Checking Account Bonus (June 2021)

Banks need accounts. You need more cash.

How about getting a $200 sign-up bonus to make a Wells Fargo Everyday Checking account your main bank account?

That’s right, Wells Fargo will give you money for opening an account. Open an account and within 90 days, receive a total of $2,000 or more in qualifying direct deposits into the new checking account within 90 days from account opening. It’s reported as interest, so you’ll owe taxes on it, but that’s a nice little bonus to switch banks.

This looks similar to other high dollar bank promotions. Check them out after reading through this article.

Definitely worth a look if you’re in a state where the offer qualifies (there are a few restrictions, listed below) but you can apply online so you’re not even required to change out of your jammies to visit a branch!

Read on to figure out how you sign up for the offer as well as how long it takes to see the bonus. I’ve also compiled other Wells Fargo bonuses and promotions you can take advantage of below the $200 bonus review.

Wells Fargo $200 Checking Account Bonus in a Nutshell

  • What you get: $200 cash bonus
  • Who qualifies: Available nationwide
  • Where to open: Online or in-branch
  • How to get it:
    • Open an Everyday Checking account,
    • Make a minimum opening deposit of $25 to fund your account,
    • Next, receive a total of $2,000 or more in qualifying direct deposits into the new checking account within 90 days from account opening (the “qualification period”).
  • When does it expire: 6/30/2021
Table of Contents
  1. How to Earn the $200 Bonus?
  2. Does Wells Fargo Really Give You $200?
  3. How to Get an In-Branch Sign Up Coupon Code
  4. Who Is Eligible for this Bonus?
  5. How to Avoid Checking Account Fees?
  6. Take Advantage of Account Perks
  7. How Does This Offer Compare?
  8. Other Wells Fargo Bonuses & Promotions
    1. Wells Fargo Propel American Express: 20,000 Bonus Points
  9. Frequently asked questions

How to Earn the $200 Bonus?

This is what you need to do to earn the $200 Bonus:

  1. Open an Everyday Checking account online or in a branch by 6/30/2021.
  2. Make a minimum opening deposit of $25 to fund your account.
  3. Next, receive a total of $2,000 or more in qualifying direct deposits into the new checking account within 90 days from account opening (the “qualification period”).

After the 90 day qualification period, you’ll see the $200 bonus deposited into your account within 30 days if you met all the offer requirements.

Click the green Learn More button below to find out more:

You cannot be an existing Wells Fargo consumer customer and you are limited to one bonus per customer per 12 months. You also cannot be an employee of Wells Fargo. If you don’t qualify for Everyday Checking but can get an Opportunity Checking account, this offer still applies.

Does Wells Fargo Really Give You $200?

Yes, Wells Fargo will give you they’re trying to get new customers and this welcome bonus is how they’re enticing you with $200. This is one of the simplest bonuses to get and you only need to open it with $25 and receive a total of $2,000 or more in qualifying direct deposits into the new checking account within 90 days from account opening.

They can afford to do this because it’s like any other kind of marketing. They can buy ads or they can simply offer a promotion and rely on word of mouth to get people’s attention. You found this $200 offer today not because of an ad, right? 🙂

How to Get an In-Branch Sign Up Coupon Code

If you want to open your account in a branch or simply don’t like opening bank accounts online, you can get a promotional code emailed to you.

Click the orange button above and on that next page, you want to click on Open In-Branch (I drew the green box to show you where it is. It won’t have a green box on the actual page and the page may look slightly and enter your name, email, and ZIP code to get a promotional code via email:

Once you click “Get My Code” you will be redirected to a page with your unique code, it looks like this:

I replaced my code with a black box.

You will also get an email with the subject “Your $200 bonus offer code is here” with the code in the body of the email. Then you just go to the nearest branch and open the account.

NOTE: You do NOT have to open the account in person. You can do it entirely online.

Who Is Eligible for this Bonus?

New checking customers are eligible and all consumer checking accounts are eligible. There does not appear to be a geographic restriction.

The following people are NOT eligible:

  • Current consumer checking account customer (if you only have a business or mortgage account, it appears you are eligible)
  • You have received a bonus for opening a Wells Fargo consumer checking account within the past 12 months
  • Wells Fargo employees

How to Avoid Checking Account Fees?

The account has a $10 monthly service fee. You can avoid it quite easily.

To get the fee waived, you need to do only one of the following each “fee period” (statement period):

  • 10+ posted debit card purchases/payments from this checking account. This does not include transactions at an ATM.
  • Qualifying direct deposits totaling $500 or more.
  • Maintain a $1,500 minimum daily balance.
  • A linked Wells Fargo Campus ATM or Campus Debit Card.

The fee is also waived if you, as the primary account owner, are between 17 and 24 years old.

Take Advantage of Account Perks

The account itself is pretty standard for a checking account.

They do promote three features that are quite rare:

  • You can turn off your debit card in the event you lose it, so it’s not an outright closure unless you’re 100% sure you’ve lost it. If you are 100% sure, you need to report it stolen. If you’ve misplaced it (say at a bar or something) and you know where it is, you can disable it until you get it back.
  • Access ATMs without your card by requesting a one-time access code via the app.
  • Overdraft Rewind lets you avoid an overdraft fee if you overdraft your account but receive a direct deposit the following day that replaces the amount you overdrew by.

>> Related: Here’s how to find your Wells Fargo routing number

How Does This Offer Compare?

Wells Fargo has one of the better offers at this moment. $200 is simply much higher than any of the other banks and Wells Fargo has a huge geographic footprint so almost everyone qualifies for it.

Here are how a few other offers stack up:

Wells Fargo – $200

Wells Fargo has a nationwide promotion of $200 for a new checking account when you open a new checking account with at least $25 and receive a total of $2,000 or more in qualifying direct deposits into the new checking account within 90 days from account opening.

You can learn more about the Wells Fargo promotions to see how to get it.

Axos Bank – $100

Axos Bank has a great promotion where you can get $100 when you open a high yield savings account and an Essential Checking account using promotion code GET100. The high yield savings account has a $250 minimum deposit. On the checking account, you have to receive direct deposits totaling $1,000 or more within 60 days.

Click here to see how you can get $100 from Axos Bank.

SoFi Money – $50 – $100

SoFi Money will give you $50 if you open an account and deposit $500. The bonus is small but the requirements are so simple that I had to list it first.

If you are willing to set up a deposit of $500 or more, you can get a bonus of up to $100.

These bonuses are so easy to get. Learn more about SoFi promotions here.

Bank of America – $100

Bank of America offers a $100 cash bonus if you open a new account and set up and receive at least 2 qualifying direct deposits of $250 or more into that account within the first 90 days of opening. It has a monthly fee that is easy to have waived, you can learn more about this offer here.

Make sure to review this guide on bank account bonuses to ensure you know what to watch for when it comes to these types of offers.

Other Wells Fargo Bonuses & Promotions

The banking offer is just the beginning if you don’t have any Wells Fargo accounts. You can get a cash bonus on their credit cards too.

Wells Fargo Propel American Express: 20,000 Bonus Points

Wells Fargo PropelIf you’re in the market for an American Express card that will give you 20,000 Bonus Points after just in spend in the , then give the Wells Fargo Propel American Express Card some consideration.

It gives you 3X points for eating out and ordering in, 3X points for gas stations, rideshares, and transit, and 3X points for travel (flights, hotels, homestays, and car rentals). 1X points on everything else. It also has no annual fee.

Learn more about this card (and others)

Worth a look if you want to go full Wells Fargo or just need to up your cashback credit card game.

Frequently asked questions

Does Wells Fargo really give you $200?

Yes, new Wells Fargo customers can get $200 when they open a new account with $25 and receive a total of $2,000 or more in qualifying direct deposits into the new checking account within 90 days from account opening.

How do you get your Wells Fargo bonus?

Once you open your account and satisfy the requirements, you will receive the cash deposited into your accounts within 30 days.

Does Wells Fargo have any promotions?

Yes, Wells Fargo frequently offers promotions for new customers and you can check this page for the latest available bonuses and promotions.

Wells Fargo $200 Bonus

9

Product Rating

9.0/10

Strengths

  • Very high dollar amount bonus ($400)
  • Nationwide geographic footprint
  • Easy bonus requirements

Weaknesses

  • Direct deposit required (but low amount)

Other Posts You May Enjoy:

Associated Bank New Account Promotions – up to $500 Bonus

If you live in the Midwest where Associated Bank operates, you could get up to $500 to open an account.

Associated Bank is one of the few that will offer a good initial bonus just for the account and direct deposit but then follow that up with a higher bonus when you deposit more cash. And from a deposit to bonus ratio, it's one of the best offers out there.

About Jim Wang

Jim Wang is a thirty-something father of three who is a frequent contributor to Forbes and Vanguard's Blog. He has also been fortunate to have appeared in the New York Times, Baltimore Sun, Entrepreneur, and Marketplace Money.

Jim has a B.S. in Computer Science and Economics from Carnegie Mellon University, an M.S. in Information Technology - Software Engineering from Carnegie Mellon University, as well as a Masters in Business Administration from Johns Hopkins University. His approach to personal finance is that of an engineer, breaking down complex subjects into bite-sized easily understood concepts that you can use in your daily life.

One of his favorite tools (here's my treasure chest of tools,, everything I use) is Personal Capital, which enables him to manage his finances in just 15-minutes each month. They also offer financial planning, such as a Retirement Planning Tool that can tell you if you're on track to retire when you want. It's free.

He is also diversifying his investment portfolio by adding a little bit of real estate. But not rental homes, because he doesn't want a second job, it's diversified small investments in a few commercial properties and a farm in Illinois via AcreTrader.

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These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

  1. Collin says

    Hi Jim!

    The Green “Click Here Button” to sign up does not work it takes you to a screen stating the promo has expired.

    Do you have a new link you can copy and paste in the reply to this comment?

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