Consumer complaint received 2022-12-08
Company: WELLS FARGO & COMPANY
State: CA
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Banking errors

Complaint:
Wells Fargo offered a bonus of {$400.00} for a personal checking account after keeping a minimum balance and linking direct deposits of {$1000.00}. I had my paycheck direct deposited into the checking account XXXX times and kept the balance at the minimum required, fulfilling the requirements. The bank did not award me the promised amount, so I asked what the issue might be. I was told that on I had qualified for a Business checking award and, because of this, that this disqualified me for the personal checking bonus. This is found nowhere on the terms and conditions of the offer. 

Nowhere on the banks offer does it mention business checking impeding personal checking qualifications or bonuses. It mentions that one can not receive a bonus from a " consumer checking account '' in the last 12 months. A business checking account is not a consumer checking account. I feel like the bank is trying to bait and switch me and rip me off after I have fulfilled my end of the bargain. 

This is what the bank stated as to its eligibility requirements : " Account opening bonus disclosure Eligibility Requirements : This offer is for new checking customers only. All Wells Fargo consumer checking accounts are eligible for this offer with the exception of checking accounts offered by Wells Fargo Private Bank. 
You must use your bonus offer code at account opening when you apply for a new eligible Wells Fargo checking account. 
You are not eligible for this offer if : You are a current owner of a Wells Fargo consumer checking account You have received a bonus for opening a Wells Fargo consumer checking account within the past 12 months You are a Wells Fargo employee Bonus Requirements : Open a new Wells Fargo consumer checking account with a minimum opening deposit of {$25.00} by XX/XX/2022. All account applications are subject to approval. 
Within XXXX calendar days of account opening ( the qualification period ), receive a total of {$1000.00} or more in qualifying direct deposits to your new checking account. 
A qualifying direct deposit is an XXXX ( XXXX XXXX XXXX  ) automatic electronic deposit of your salary, pension, Social Security, or other regular income into your bank account. Confirm with your employer or the agency or company making these payments that they use the XXXX network. 
Transfers from XXXX account to another, mobile deposits, or deposits made at a branch or ATM dont qualify as a direct deposit. 
Bonus Payment : Once the XXXX qualification period has elapsed, we will determine if you have met the offer requirements, and will deposit any earned bonus into your new checking account within 30 days. 
The new checking account must remain open throughout the XXXX qualification period and at the time we attempt to deposit any earned bonus payment. Please note that an account with a XXXX balance may be closed by us without prior notice, as further described in the Deposit Account Agreement. 
You are responsible for any federal, state, or local taxes due on the bonus and we will report as income to the tax authorities if required by applicable law. Consult your tax advisor. ''

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with monetary relief