Score Up to $3,500 with Wells Fargo Premier – Here's the Real Deal

If you have a chunk of cash or investments sitting around, Wells Fargo is dangling a pretty tempting carrot. Open a Premier Checking account, bring over at least $250,000 in new money, and you could snag a $2,500 bonus. Want to go bigger? Deposit $500,000 and that bonus jumps to $3,500. No direct deposit required, and you can use funds from a brokerage account too. But there's a catch – you have to visit a branch in person. Let me walk through what you need to know.

Who Can Get This Bonus?

You're eligible if you're opening a brand new Premier Checking account or upgrading an existing consumer checking account to Premier. The key is that you haven't received a Premier checking bonus in the past 12 months. If you previously did a standard checking offer, that doesn't count against you – you can still go for this one.

Wells Fargo employees are not eligible. Also, you'll need a valid U.S. Taxpayer Identification Number (W-9). Non-resident aliens with W-8 forms are out of luck.

How to Make the Money Work

You have two main paths: deposit cold hard cash or transfer in investments. If you go the cash route, just move $250,000 (or $500,000) into your linked checking, savings, or CD accounts. The money needs to be new to Wells Fargo – not already sitting there.

The investment route is flexible. You can ACAT transfer ETFs, mutual funds, or even use Wells Fargo's self-directed brokerage. Some folks have confirmed retirement accounts count too. Just be careful: if your investments dip in value and your balance falls below the threshold, that could mess up the bonus. Consider padding with a little extra.

• You can use a mix of bank deposits and investment balances to meet the $250k/$500k requirement.
• Interest on Premier Checking is minimal – 0.01% APY currently – so don't park cash here long-term for yield.
• If you transfer out all investments and close the brokerage, there's a $49.95 ACAT-out fee. Consider leaving a small amount to avoid that.

The Fine Print That Matters

The bonus posts within 30 days after you've satisfied all conditions, which means you're looking at roughly 90 days from account opening to payout. Your Premier Checking must remain open and active during that time – a zero balance could trigger closure.

You can only get one bonus per customer, and you can't combine this with other checking offers. If you already have a pending bonus on another Wells account, upgrading will forfeit that one.

Avoiding Fees Like a Pro

The $35 monthly service fee is waived for the first six months, which is plenty of time to complete the bonus requirements and move your money out. After that, you can avoid the fee by keeping $250,000+ in linked balances. But if you plan to leave after the bonus, just close the account before the six-month waiver ends.

One sneaky fee: if you transfer out all your investments and terminate your brokerage account, Wells Fargo charges $49.95. Some readers suggest leaving at least $95–$125 in the account to avoid triggering that fee. Double-check the current fee schedule before moving everything out.

Is It Worth the Effort?

For a $2,500 bonus on $250,000, you're looking at a 1% return in about three months. That's roughly 4% annualized – not bad for a safe parking spot. If you're already planning to move that kind of money, it's a solid extra boost. Just factor in the branch visit and the 90-day holding period.

If you don't have $250k lying around, this isn't for you. But if you do, it's one of the better bank bonuses out there right now.

Bottom Line

• Bonus scales: $2,500 for $250k, $3,500 for $500k in new deposits.
• No direct deposit needed – cash or investments both work.
• Must visit a branch to open or upgrade – no online-only option.
• Monthly fee waived first 6 months; avoidable after with $250k+ in linked accounts.
• Bonus posts after 90 days; keep account open until then.

Common Questions