Get $250 from Wells Fargo

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
User avatar
Pranav
Posts: 186
Joined: Thu Aug 25, 2016 11:25 am
Location: Austin, Texas, United States

Re: Get $250 from Wells Fargo

Post by Pranav » Wed Feb 22, 2017 7:19 pm

keaton wrote:Positive results on my end!

Both my wife and I applied:

- received debit cards
- funded account
- bought 20 Amazon gift cards
- bonus posted & cleared
- transferred back to my bank
- closed account...

This will get a 1099 at the end of the year, but ohh was it nice to get money off of Wells Fargo.


It seems you did not have to keep ON the account for few months. I recall some banks (e.g. Chase) often requires you to keep accounts ON for 6 months.
Pranav

N10sive
Posts: 319
Joined: Thu May 05, 2016 6:22 pm

Re: Get $250 from Wells Fargo

Post by N10sive » Wed Feb 22, 2017 7:21 pm

There wasn't any fine print regarding the account being open for so long. I am keeping it open for 6 months but then will pry close it.

wolf359
Posts: 1006
Joined: Sun Mar 15, 2015 8:47 am

Re: Get $250 from Wells Fargo

Post by wolf359 » Wed Feb 22, 2017 7:26 pm

Loik098 wrote:
Riverstwo wrote:I agree with Chinto, I would not do business with Wells after the recent mess and how they treated their employees to cross-sell while management was pocketing millions. If MORE people did not give their business to companies like this, they would not have a business and there would be no fraud.


All the more reason to rip them off of $250. And fraud happens everywhere.


Fraud does NOT happen everywhere. And given that it occurred at Wells Fargo as part of a systematic, company sponsored fraud, and nobody has yet to do the perp walk -- no.

$250 is not worth the risk. Nor will $250 take them down. Whoever is responsible for this promotion will probably get big bonuses for the number of accounts opened. They don't have to convert everyone to regular account holders to make money. They probably wouldn't make money on most Bogleheads, anyways, because you're unlikely to carry a balance.

They victimized MILLIONS of customers over YEARS. Management systematically and actively bypassed their auditors that safeguarded their customers. Wells Fargo cannot be trusted.

Best of luck to those who are taking this promotion, though. You probably won't get burned now that they're in the spotlight.

Loik098
Posts: 414
Joined: Mon May 30, 2016 9:29 pm

Re: Get $250 from Wells Fargo

Post by Loik098 » Thu Feb 23, 2017 6:37 pm

wolf359 wrote:
Loik098 wrote:
Riverstwo wrote:I agree with Chinto, I would not do business with Wells after the recent mess and how they treated their employees to cross-sell while management was pocketing millions. If MORE people did not give their business to companies like this, they would not have a business and there would be no fraud.


All the more reason to rip them off of $250. And fraud happens everywhere.


Fraud does NOT happen everywhere. And given that it occurred at Wells Fargo as part of a systematic, company sponsored fraud, and nobody has yet to do the perp walk -- no.

$250 is not worth the risk. Nor will $250 take them down. Whoever is responsible for this promotion will probably get big bonuses for the number of accounts opened. They don't have to convert everyone to regular account holders to make money. They probably wouldn't make money on most Bogleheads, anyways, because you're unlikely to carry a balance.


No, I think I'll stick with my original opinion. If you're suggesting that corporate fraud isn't on an incline from year to year and isn't happening in many dozens of countries/economies, you'd be very hard-pressed to prove it. Companies don't commit fraud; people do. I have zero confidence that the rising level of global competition is generating a higher volume of honest people managing the show at the various companies I choose to do business with....especially, as you said, when the message being sent to those in the U.S. is that they can largely get away with it.

That said, I'll take what I can get in the way of freebies from any company I can, without care of how it affects anyone's bottom line. It's not about a relationship, it's just business...and vacations aren't cheap.

DealSeeker
Posts: 6
Joined: Sat Jan 07, 2017 8:32 am

Re: Get $250 from Wells Fargo

Post by DealSeeker » Fri Feb 24, 2017 11:26 pm

What constitutes a "debit card transaction" for the purposes of this promotion? Does it include all purchases made with the debit card, or only purchases where a PIN is entered?

N10sive
Posts: 319
Joined: Thu May 05, 2016 6:22 pm

Re: Get $250 from Wells Fargo

Post by N10sive » Sat Feb 25, 2017 1:26 am

DealSeeker wrote:What constitutes a "debit card transaction" for the purposes of this promotion? Does it include all purchases made with the debit card, or only purchases where a PIN is entered?


Any use of the debit card whether you sign or use a pin. What does not count is say paying a bill from the online account which technically is from a "checking account".

giesen5
Posts: 267
Joined: Wed Jan 27, 2016 1:44 pm
Location: Bellingham, WA

Re: Get $250 from Wells Fargo

Post by giesen5 » Tue Mar 07, 2017 4:53 pm

Offer is back on until March 24th. Many data points of it working successfully.

patrick
Posts: 1473
Joined: Fri Sep 04, 2009 3:39 am
Location: Mega-City One

Re: Get $250 from Wells Fargo

Post by patrick » Tue Mar 07, 2017 7:09 pm

Note that the new version of this offer seems to have changed a bit -- it seems that now you can only qualify by debit card transactions.

MikeMak27
Posts: 67
Joined: Fri Jul 03, 2015 4:37 am

Re: Get $250 from Wells Fargo

Post by MikeMak27 » Wed Mar 08, 2017 12:29 am

I got my bonus within a week of using the debit card 10 times. I withdrew as much as I could from the account via an ATM. I then called them up to cancel the account and the minute amount of money left in the account is being sent to me by WF in the form of a check. This was well worth my 60 minutes of overall work.
Last edited by MikeMak27 on Wed Mar 08, 2017 4:19 pm, edited 1 time in total.
Mac 3 fund portfolio: 45% US small cap value (IJS, VBR), 35% Emerging Markets (IEMG, VWO, FPMAX), 20% intermediate term US treasuries (FIBAX, IEF) & Cash

giesen5
Posts: 267
Joined: Wed Jan 27, 2016 1:44 pm
Location: Bellingham, WA

Re: Get $250 from Wells Fargo

Post by giesen5 » Wed Mar 08, 2017 11:18 am

Couldn't have been easier. Did the 10 transactions on 3/6, bonus posted today.

slbnoob
Posts: 432
Joined: Thu Jul 25, 2013 1:31 pm

Re: Get $250 from Wells Fargo

Post by slbnoob » Wed Mar 08, 2017 11:33 am

Seems like it can be cancelled immediately after getting the bonus, right?

giesen5
Posts: 267
Joined: Wed Jan 27, 2016 1:44 pm
Location: Bellingham, WA

Re: Get $250 from Wells Fargo

Post by giesen5 » Wed Mar 08, 2017 12:09 pm

Yes, you can cancel immediately, but thought is to keep open a few months so that you don't burn bank bridge in case of another bonus offer. But honestly, not sure how much a big bank like Wells Fargo cares.

User avatar
G-Force
Posts: 276
Joined: Sun Sep 20, 2009 3:03 pm
Location: Florida
Contact:

Re: Get $250 from Wells Fargo

Post by G-Force » Wed Mar 08, 2017 6:29 pm

A $500+ Paypal deposit triggered the bonus for me.

Loik098
Posts: 414
Joined: Mon May 30, 2016 9:29 pm

Re: Get $250 from Wells Fargo

Post by Loik098 » Tue Mar 14, 2017 10:13 am

For follow-up, I closed my account without penalty today. I can confirm that there is no minimum length of time the account needs to stay open.

My account was opened on 1/17/17. I did the required debit card transactions; siphoned off the bonus to my own bank account, and have let about $2 sit in there for a couple of weeks. The rep I called today gave me no hassle; didn't even ask for a reason for closing. Just said they'd send me a cashier's check for the balance. Phone call lasted about 3 minutes.

Hope this assists those of you with open accounts.

4th and Inches
Posts: 145
Joined: Mon Nov 12, 2012 8:53 pm

Re: Get $250 from Wells Fargo

Post by 4th and Inches » Tue Mar 14, 2017 10:47 am

It seems possible that this deal is off. The link referenced in several blogs over the past few days is no longer working:

https://www.wellsfargo.com/jump/checkin ... ect-offer/

Anybody else have a link to the offer that works?

Whakamole
Posts: 467
Joined: Wed Jan 13, 2016 9:59 pm

Re: Get $250 from Wells Fargo

Post by Whakamole » Thu Mar 23, 2017 12:04 pm

4th and Inches wrote:It seems possible that this deal is off. The link referenced in several blogs over the past few days is no longer working:

https://www.wellsfargo.com/jump/checkin ... ect-offer/

Anybody else have a link to the offer that works?


There is an offer but it requires you to be "an existing Wells Fargo retail store private label credit card customer."

https://www.reddit.com/r/churning/comme ... s_open_by/

Apparently the original offer was supposed to have this qualification but Wells Fargo made a mistake. Oh well. FYI, I got my ATM card/PIN on Monday and made my ten debit transactions that night; the $250 credit hit this morning which I was able to withdraw immediately. Per WF they'll need to wait for the transactions to clear before closing my account, so I should call back tomorrow. All in all the easiest bank bonus I've received in quite some time, especially since I funded my account with a cash-back credit card :beer

2015
Posts: 903
Joined: Mon Feb 10, 2014 2:32 pm

Re: Get $250 from Wells Fargo

Post by 2015 » Thu Mar 23, 2017 8:10 pm

DealSeeker wrote:What constitutes a "debit card transaction" for the purposes of this promotion? Does it include all purchases made with the debit card, or only purchases where a PIN is entered?


I never bothered with a pin, just kept debiting my daily $2 coffee for ten days at my favorite cafe, for which no pin was required. Completed the 10 total debits yesterday, so hopefully the bonus will post soon.

4th and Inches
Posts: 145
Joined: Mon Nov 12, 2012 8:53 pm

Re: Get $250 from Wells Fargo

Post by 4th and Inches » Fri Mar 24, 2017 12:09 am

What exactly is a retail store private label credit card? Is that just a crummy retail credit card where Wells Fargo is the bank?

Whakamole
Posts: 467
Joined: Wed Jan 13, 2016 9:59 pm

Re: Get $250 from Wells Fargo

Post by Whakamole » Fri Mar 24, 2017 2:15 am

4th and Inches wrote:What exactly is a retail store private label credit card? Is that just a crummy retail credit card where Wells Fargo is the bank?


I believe so. The Dillard's card is an example. But I'd rather not open up a new credit card and risk losing out on whatever nice promotion Chase will have going in the next few months if I exceed 5/24.

ThreeBears
Posts: 78
Joined: Mon Nov 28, 2016 11:13 am

Re: Get $250 from Wells Fargo

Post by ThreeBears » Sat Mar 25, 2017 10:39 am

need403bhelp wrote:FYI, if you have not done the Chase $500 bonus I would by far recommend doing that first. Just closed out my account with them from doing bonus 6 months ago and it was a breeze.

Also still in process of Citi s old $400 bonus (not available now) and it seems a lot of people had problems. I haven't received my bonus yet but it is not officially due until late Feb (basically 120 days from initial deposit). I would def pick Chase over Citi re straightforward-ness of process and lack of hurdles/bugs.



Sorry, but how did you close the account? (1) over phone, (2) over internet, or (3) in person?

I got my bonus, and I should probably close soon.


EDIT: I guess I was being lazy. The answer is here: https://www.wellsfargo.com/help/faqs/op ... -accounts/

giesen5
Posts: 267
Joined: Wed Jan 27, 2016 1:44 pm
Location: Bellingham, WA

Re: Get $250 from Wells Fargo

Post by giesen5 » Sat Mar 25, 2017 11:21 am

2015 wrote:
DealSeeker wrote:What constitutes a "debit card transaction" for the purposes of this promotion? Does it include all purchases made with the debit card, or only purchases where a PIN is entered?


I never bothered with a pin, just kept debiting my daily $2 coffee for ten days at my favorite cafe, for which no pin was required. Completed the 10 total debits yesterday, so hopefully the bonus will post soon.


Even easier is loading up your Amazon gift card 10 times for .50 each. Done!

2015
Posts: 903
Joined: Mon Feb 10, 2014 2:32 pm

Re: Get $250 from Wells Fargo

Post by 2015 » Sat Mar 25, 2017 11:33 am

Yea, I was basically lazy and not very strategic about it...

Here's a helpful post from DOC regarding how to meet minimum debit and credit transaction requirements:

http://www.doctorofcredit.com/bank-accounts/how-to-meet-minimum-debit-credit-transaction-requirements/

2015
Posts: 903
Joined: Mon Feb 10, 2014 2:32 pm

Re: Get $250 from Wells Fargo

Post by 2015 » Tue Mar 28, 2017 10:50 am

2015 wrote:
DealSeeker wrote:What constitutes a "debit card transaction" for the purposes of this promotion? Does it include all purchases made with the debit card, or only purchases where a PIN is entered?


I never bothered with a pin, just kept debiting my daily $2 coffee for ten days at my favorite cafe, for which no pin was required. Completed the 10 total debits yesterday, so hopefully the bonus will post soon.


$250 posted yesterday, 3 days after tenth debit posted. :mrgreen:

slbnoob
Posts: 432
Joined: Thu Jul 25, 2013 1:31 pm

Re: Get $250 from Wells Fargo

Post by slbnoob » Wed Mar 29, 2017 3:24 pm

$250 posted 2 days after the 10th debit.

Will BillPay a CC and close WF with 0 balance after that. Thanks!

EHoops
Posts: 154
Joined: Sun Jun 01, 2008 9:42 am

Re: Get $250 from Wells Fargo

Post by EHoops » Thu Mar 30, 2017 11:59 am

G-Force wrote:A $500+ Paypal deposit triggered the bonus for me.


I'm interested in knowing how this works. Can you explain it because I may choose to do this instead of the 10 debit card transactions?

Thank you.

2015
Posts: 903
Joined: Mon Feb 10, 2014 2:32 pm

Re: Get $250 from Wells Fargo

Post by 2015 » Thu Mar 30, 2017 12:34 pm

ThreeBears wrote:
need403bhelp wrote:FYI, if you have not done the Chase $500 bonus I would by far recommend doing that first. Just closed out my account with them from doing bonus 6 months ago and it was a breeze.

Also still in process of Citi s old $400 bonus (not available now) and it seems a lot of people had problems. I haven't received my bonus yet but it is not officially due until late Feb (basically 120 days from initial deposit). I would def pick Chase over Citi re straightforward-ness of process and lack of hurdles/bugs.



Sorry, but how did you close the account? (1) over phone, (2) over internet, or (3) in person?

I got my bonus, and I should probably close soon.


EDIT: I guess I was being lazy. The answer is here: https://www.wellsfargo.com/help/faqs/op ... -accounts/


I tried closing it over the phone Tuesday but the CSR told me he couldn't as the account hadn't been open that long. So, yesterday morning I strolled to a nearby branch, drained the account at the teller window, and told her I wanted to close the account. She said I then had to sit with a personal banker to close the account so I said fine. Took five minutes (he looked distracted). He did at some point ask me why I wanted to close the account and I said "you don't want to know and I don't want to tell you." I'd only had the account opened maybe 3 weeks, only did the 10 debit transactions over 10 days for my daily coffee, never even set up a pin, and closed the account maybe two days after the $250 posted, but he didn't bat an eye.

Flux
Posts: 39
Joined: Mon Jul 27, 2009 9:57 am

Re: Get $250 from Wells Fargo

Post by Flux » Thu Mar 30, 2017 1:03 pm

There are data points of people sending them a message online to close the account.

Another easy way to get the minimum transactions is to load your gift card balance in your Amazon Prime account. I did 5 reloads back to back for $0.50 each today. I haven't received the bonus yet but it should come in a couple days. Others have done this as well.

ND Fan 1
Posts: 265
Joined: Fri Oct 30, 2015 12:29 pm

Re: Get $250 from Wells Fargo

Post by ND Fan 1 » Thu Mar 30, 2017 2:33 pm

EHoops wrote:
G-Force wrote:A $500+ Paypal deposit triggered the bonus for me.


I'm interested in knowing how this works. Can you explain it because I may choose to do this instead of the 10 debit card transactions?

Thank you.


You have to link bank accounts to PayPal. Then ACH pull from PayPal from you main bank. Then ACH push those funds to Wells Fargo or whatever bank you are trying to get a bonus. It takes about 2 days to link bank accounts, about 3-5 business days to pull the funds to PayPal and about 1 business day to push the funds to the Bonus bank account.

Here is list of what counts as a direct deposit for a plethora of banks. From what I ready PayPal almost works for all of them, so a good idea to your PayPal available to do these transfers

http://www.doctorofcredit.com/knowledge ... -deposits/

ND Fan 1
Posts: 265
Joined: Fri Oct 30, 2015 12:29 pm

Re: Get $250 from Wells Fargo

Post by ND Fan 1 » Thu Mar 30, 2017 2:34 pm

I applied online and it stated I need to go into a branch. I don't have a private label card, but was going to try anyway. But not worth a trip into a branch for a maybe, I'm going to focus on other bonuses.

sulsj
Posts: 6
Joined: Thu Mar 30, 2017 2:41 pm

Re: Get $250 from Wells Fargo

Post by sulsj » Thu Mar 30, 2017 2:45 pm

I've just opened the checking account by online. Also I've done opening capitalone 360 as well. Thanks. :happy

Jackson12
Posts: 742
Joined: Tue Oct 06, 2015 9:44 pm

Re: Get $250 from Wells Fargo

Post by Jackson12 » Thu Mar 30, 2017 10:03 pm

How long does the Capital One have to be open? I think the offer expires on the 31st ( at least for money market)

giesen5
Posts: 267
Joined: Wed Jan 27, 2016 1:44 pm
Location: Bellingham, WA

Re: Get $250 from Wells Fargo

Post by giesen5 » Fri Mar 31, 2017 12:08 am

Jackson12 wrote:How long does the Capital One have to be open? I think the offer expires on the 31st ( at least for money market)


It is an easy one. Once you get the bonus you can close, but there are data points that it may take a few days for your deposit and bonus to be available.

2015
Posts: 903
Joined: Mon Feb 10, 2014 2:32 pm

Re: Get $250 from Wells Fargo

Post by 2015 » Fri Mar 31, 2017 12:52 pm

giesen5 wrote:
Jackson12 wrote:How long does the Capital One have to be open? I think the offer expires on the 31st ( at least for money market)


It is an easy one. Once you get the bonus you can close, but there are data points that it may take a few days for your deposit and bonus to be available.


I don't think mine was open 3 weeks before I transferred all the funds back to Ally from whence they originally came and simultaneously closed the account in the same online transaction.

AlwaysBeClimbing
Posts: 116
Joined: Fri Mar 31, 2017 10:39 am

Re: Get $250 from Wells Fargo

Post by AlwaysBeClimbing » Fri Mar 31, 2017 6:14 pm

ND Fan 1 wrote:I applied online and it stated I need to go into a branch. I don't have a private label card, but was going to try anyway. But not worth a trip into a branch for a maybe, I'm going to focus on other bonuses.


I had the same exact situation and I wasn't going to waste my time further. But a couple weeks later I figured what the heck, I already went to the trouble to fill out the app why not give it a shot at least. So, made an appointment and for cost of 20 minutes of chit chat and paperwork, walked out with the bonus approval confirmation. Think positive, it just might work out. :D

Post Reply