WF Business Checking $825 — 35% Effective APY.

I successfully opened a Wells Fargo Business Checking account today. The sign up bonus is $825 for $25k invested for a little over 30 days. I signed up for yesterday online and it went pending. Details of the play available at Profitable Content.

Once the account is opened, one has 30 days to deposit the $25k, then hold until the 60th day of account opening. Assuming a total investment period of 40 days — 30 days plus a 10 day buffer — this turns out to effectively be about 35% APY play:

https://cashbackcow.io/calculators/effective-apy-calculator/?invest=25000&sub=825&daysreq=30&daysbuf=10&fees=0&interest=0

I had a large chunk of bankroll funds (BHEF) available after taking a break from my short term investments at a well known brokerage, and needed to put them to use. This 35% APY play is a good substitute to say the least, for the time being.

I got a phone call yesterday from a gentleman from Wells Fargo who said he needed to go over some things to get me approved. I chatted with him this morning. Not gonna sugar coat it, the phone call laster much longer than I thought it would, lol. He asked Lexis Nexis verification questions, asked about the detailed structure of my business, my position in the company. He also wanted the net profit number of my business which was reported on the 2024 tax return. He basically asked me every question that was on the application and then some. Ultimately he sent me a docusign document to sign via email. I signed it while he was on the phone. He said they’d get back to me later in the day. This afternoon I got the phone call that I was approved! Yay!

I plan on transferring the $25k in 5 days before the 30 day deadline and taking it out 5 days after the 60th day, hence the 10 day buffer. An easy $825!

Before I withdraw the $25k, I might try and apply for the Wells Fargo SIGNIFY business credit card, as I learned the hard way that Wells Fargo likes it when you actually have a decent amount of cash in a deposit account, if you have a deposit account when apply for WF credit cards. I have been focusing solely on business cards lately after my 16 card App-O-Rama last September, to garden my 5/24. (Actually more focused on Amex Business Cards to garden my hard inquires as well, but I might as well give this WF Business Card a shot while I have a business checking account open with them with $25k in it.)

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2 thoughts on “WF Business Checking $825 — 35% Effective APY.

  1. I’m currently doing this bonus as well, great SUB and APY. My plan is to tackle the $750 Chase Biz Checking offer right after the 30 day hold period is done with this and transfer the funds ($20000) directly into Chase from WF.

    I also got the Signify 4 months ago with automatic approval. I’m not sure what counts as “decent amount” of cash on deposit but I’ve kept $501 in my everyday checking just to waive the fee for the past 8 months and also have an Active Cash. Not sure if those DPs help or not. I hope a smooth approval for you as it was a nice $500 SUB and can’t beat the 0% APR and uncapped 2%!

    Fantastic blog, first time reader here, appreciate the tips on the Lock Screen “cheat sheet”, genius

    1. Congrats! That’s a sweet Chase offer as well! Congrats on the SIGNIFY as well — I really want that card. We’ll see how it goes with the app, just before I withdraw the $25k on the 65th day (or so). Keep up the good work! 🙂

      Also check out the Glossary, Calculators Page as well as Feeds page.

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