‘’Free money’’, ‘’free money’’. Wells Fargo and Chase Bank have an offer that allows you to get additional money if you meet certain requirements. Do you know anything about finances? Don’t worry about it, we are not going to explain it very difficultly. So, let’s find out what these offers are all about.
What are these bank offers about?
There’s a Wells Fargo offer for new customers. The bank offers $325 as a bonus for people opening a specific account and who meet a simple condition related to money deposits. What’s more, Chase Bank will also allow people to get $300, but it needs to be a credit card in this case.
Both offers have a deadline and very clear rules that must be met.
Wells Fargo bonus
As we mentioned before, Wells Fargo is offering $325 to people who open a new Everyday Checking account. Remember, this offer is only for new customers, not existing account holders.
If you are interested in this, here are the steps you must follow:
- Open an Everyday Checking account: you can do this online or at a bank branch. You must open it before January 14.
- Deposit at least $1,000: the deposits must be completed within 90 days of opening the account. The money must be a direct deposit, not cash.
- Wait for the bonus: after completing the requirement, Wells Fargo will deposit the $325. The money usually arrives within 30 days.
Which types of deposits count?
You should know that not every deposit counts to meet the condition. So, let’s make this very clear:
- Deposits that DO count: salary from work, government payments, and other income sent as direct deposit. These deposits must come through: ACH (Automated Clearing House) transfers, real-time electronic payment systems, or credit from services using Visa or Mastercard.
- Deposits that do NOT count: transfers through Zelle, cash deposits, deposits at ATMs or branches, and transfers between your own accounts.
Requirements to open an account in Wells Fargo
If you are interested in opening this account, you must:
- Be 18 years old or older.
- Have a Social Security number (SSN) or ITIN.
- Have a permanent U.S. address.
- Have a mobile phone number.
- Make a minimum $25 opening deposit.
Watch out with the monthly fee
Wells Fargo charges customers a $15 monthly service fee for the checking account. But, we have something great to tell you… you can avoid this fee if you:
- Maintain a daily balance of $1,500.
- Have $500 or more in qualifying monthly deposits.
- Are between 17 and 24 years old (this no longer works once you turn 25).
If you only deposit the $1,000 for the bonus and do not meet these conditions, the bank may charge the monthly fee.
Chase Bank
We have previously mentioned that Chase Bank also has an offer, right? However, it is different from the Wells Fargo one. Basically, Chase Bank offers $300 to those who open a Chase Freedom Unlimited credit card, and spend $500 on purchases within the first three months.
Now, let’s explain the key features of the Chase card:
- No annual fee.
- 0% interest for the first 15 months.
- 1.5% cash back on all purchases.
- Applications are submitted online.
Do you like this offer? Well, you have it available until January 15.
So…
Remember, timing matters: with January deadlines approaching, acting soon is the best way to secure the bonus. We hope we could have helped you see clearly how these promotions work so you can decide whether they make sense for you. Even though everything seems great, the best thing to do is always to be informed.