AMERICANS can get their hands on a free payment worth $2,500 from Wells Fargo by following a few simple steps before the May 20 cut-off.
The bank is offering one of the biggest sign-up bonuses this month, so be sure to get your check before the deal is gone.
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Wells Fargo is one of the largest banks in the US serving over 70 million customers worldwide.
Wells Fargo, like other major banks, attracts new customers through a variety of strategies, including personalized outreach, referral programs, and competitive products and rates.
The banking giant also draws in clients with tempting sign-up bonuses for those who open new accounts.
“Banks offer sign-up bonuses to attract new customers,” NerdWallet lead investing writer Sam Taube told MarketWatch.
“Many offer sign-up bonuses on checking accounts, which don’t typically pay significant interest, but they can also make savings accounts more alluring.
“Psychologically, promising new customers a concrete amount of money — say, $200 — may have more of a draw than an extra 1% of yield.”
Although yields for savings accounts and CDs are largely down this month, Wells Fargo is still handing out hefty cash bonuses.
The top bank is offering an up to $2,500 bonus to customers who open or upgrade to a Premier Checking account.
HOW TO SCORE THE CASH
There are three simple steps that Wells Fargo clients must follow to get their hands on the free money.
1. Open or Upgrade
First, they must open or upgrade to a Premier Checking account by bringing the bonus offer code to a Wells Fargo branch by May 20, 2025.
Customers must deposit at least $25 into their checking account.
2. Deposit and Link
Once clients open or upgrade their checking account, they are required to retain a certain amount of money in their account to qualify for the $2,500 bonus.
They must deposit and maintain $250,000 in qualifying linked accounts within 45 days.
New deposits can be linked to your Premier Checking account but made into your existing Wells Fargo accounts, such as:
- Checking account
- Savings account
- CD
- Investment account
Top 10 bank sign-up bonuses May 2025
3. Maintain
Wells Fargo customers must maintain at least a $250,000 balance in their qualifying linked accounts for at least 90 days after opening the Premier Checking account.
The $2,500 bonus will be deposited into the account within 30 days of meeting the offer requirements.
There is a limit of one bonus per customer, and those who have received a Wells Fargo Premier Checking bonus within the past 12 months or are a Wells Fargo employee are ineligible.
Check out these other sign-up bonuses from other major banks.
Citibank is offering customers $1,500 in free money – see the exact steps to follow before the July 7 deadline.
Plus, Chase Bank is handing out $900 in free money to those who follow certain steps before July 16.
How to contact your bank
WITH bank scams running rampent, it is important to know how to reach out to your bank without risking fraud.
There is of course the foolproof method of going to your bank in person, but you are likely going to be directed to a customer care phone line.
In order to ensure that you are contacting the bank, make sure to use a phone number given to you by the representative or off of the bank’s website.
Some banks also have online helplines that can securely connect you with a representative.
Conversely, if you think the bank is reaching out to you with an account issue – make sure to verify the concern by calling a bank contact that you know is legitimate.
Scammers commonly mascarade as bank representatives to steal information from frightened customers.