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$2500 for one hour for your time...(offer ends soon) - asset transfer bonus

Edmond
edited January 25 in Other Investing
I received an offer unsolicited on my part (I am a longtime Wells retail client). I 'googled' it for my s/o, and 'voila' it seems to be an 'open to the public, but not advertised' bonus offer.

Google "Wells fargo premier checking bonus"

The 'hour' is that you have to go into a physical branch location to sign their paperwork.

Just thought I'd share. Its pretty generous relative to the amount of qualifying assets. Most money I've ever made in one hour.

Comments

  • yogibearbullyogibearbull
    edited January 25
    So, that 1% bonus is all you get over 90 days holding period. The interest rate of 0.01% applies on deposit. Or, just keep the money in a m-mkt fund.

    "Bring $250,000 or more in new deposits to qualifying linked accounts by Day 45 and maintain at least a $250,000 balance through Day 90 after account upgrade or opening.
    .....
    Interest on the Premier Checking account is compounded daily and paid monthly. The amount of interest earned is based on the daily collected balances in the account. The following Annual Percentage Yield (APY) is accurate as of October 25, 2024. The account pays an APY of 0.01% if the balance is $0 or more. Rates are variable and subject to change without notice. Fees could reduce earnings on this account."
    https://accountoffers.wellsfargo.com/premierbonus/
  • Sven
    $250K is a lot of money to lock up for 90 days. Several options to consider:

    1. 3 months T bill, expected yield 4.273% at Fidelity. No $ limit.
    2. money market funds yield 3.95-4.2%. No $ limit and holding period.
  • Edmond
    edited January 25
    The qualifying funds does NOT have to be in the checking account. They have brokerage arm (Wells Fargo Advisors or "WFA") . So, taxable brokerage or IRA/Roth. As long as they link it to the checkng account, the funds qualify.

    WFA offers any number of 3rd party institutional-class MMFs (Vanguard, Fido, Federated, Goldman etc) with no minimums. So if you just want to hold cash, and not trade on the WFA platform, the cash options in WFA are reasonably attractive.

    When they pay you the bonus, the bonus is deposited to the checking account. Pretty simple.



  • Observant1
    Wells Fargo has a long history of violating laws and financially harming consumers.
    I refuse to even consider conducting business with such a firm.
    Link
  • Old_JoeOld_Joe
    "$2500 for one hour for your time..."

    When I saw that I thought that it was just another episode of Trump and some bimbo. Wells Fargo and Trump share a lot of perspectives, so I wasn't completely wrong.
  • Edmond
    Wow. Dropping Trump-hate in a completely non-political post.

    TDS much?
  • Old_JoeOld_Joe
    edited January 25
    What's "hateful" about the truth, Edmond? You in favor of Trump's female excursions? He's very much in favor of promiscuity for himself but against allowing women control of their own bodies. Kind of one-way, seems to me.

    Or is all of that "fake" too?
  • CrashCrash
    I wouldn't touch Wells with a ten foot pole, given their history, though I appreciate the kind gesture, the way @Edmond was cluing us in. Sadly, politics is ordinarily all FUBAR. But lately, it has also become threatening. I wonder how much of the Rule of Law will survive the next four years. Politics touches everything. Politics is the arena where decisions are made which affect us all. 14th Amendment, much? I have come across something that seems legitimate: "...subject to the jurisdiction thereof..." Would that include children born here to foreign diplomats, for example? I wonder if anyone might shed some light.

    Now back to Wells: No. Just, no. But thank you, Edmond.
  • hank
    edited January 26
    $2500 for one hour for your time...(offer ends soon)

    Anytime I try and do something in a hurry it ends up backfiring - sometimes badly. They say haste makes waste.

    Good one @Old_Joe! But “an hour”? More like 3 minutes.
  • a2z
    this was interesting enough for me to google reviews for the local branch.
    despite their reputation, i was still shocked to see how badly wells was blasted, especially on a relative basis to ANY other local bank mentioned.
    in the back of my mind, i could only see the hassle and the notion wells would find some reason not to pay the bonus (i.e., give an employee some bouns if they could find or setup a reason)
  • Sven
    The title said it all. I would say "you go first" to Wells. I have lots of options with my hard earned $.
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