I opened a Wells Fargo business checking account for the $825 bonus. I have no use for the account as it has a $1000 minimum balance requirement and pays no interest. Do I have to contact them to close the account and send me the balance or pick up a check at a branch, or can I ACH the money to my other banks and then let them know?
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I usually zero out the account balance, then send an online message requesting the account be closed. For most that is all that is necessary, occasionally one will require some other process be followed.
I tend to find that with a balance they ask more questions to verify where the money is being sent to, etc. But with no balance (and thus no financial risk of lost/stolen funds) closing the account is mostly a formality.
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It varies by bank. Some make you call. Chase, recently, accepted it via DM and I had checks in less than a week.
Depending on the coding, that account might be worth keeping open to generate DDs that count for other account bonuses.
Just got back from the bank. They gave me a check for the $25K balance after 5 minutes on the computer. $825 bonus for a thirty day deposit. Will have to find more offers like that.
That is an unusually good bonus for a fairly short 30-day deposit. Hope Chase offers something comparable in the near future.
Talk about forgetting to monitor and close unused accounts. My GTE financial credit union savings was drained because it had became inactive (fee $15 per month after 6 months of no activity). I thought I was safe because I had a CD with them, apparently not.
After the CD matured and I had pulled out the money, I set about to close my membership. I wrote them a secure message but they said they don’t close accounts through messaging. So I called them. There was $5 remaining. I thought they would send me the remaining funds. But they said it costs $6 to send out a check to me or I could donate the $5. So I said fine, donate the money. That closed my membership with GTE.
Ask and you shall receive:
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Some years I earn more cash from business account SUBs than from the business 
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Says you must do 5 qualifying transactions in 60 days. Qualifying transactions include: ….. ACH credits…… So I can do five $1 ACH transfers from my current bank into this one?
Should work according to others. Mine is still in progress so I can’t confirm. I don’t taunt them with $1 transfers though, plus my main hub (Discover) doesn’t send ACH under $25.
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That was just an example. Thanks.
Is the business a bona fide on going concern? Or is it a company in the business of chasing SUBs?
LoL. It’s a business that generates negative cash flow for years, but still comes out ahead in the long-term 
. So at least in terms of cash, SUBs help quite a bit.
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I had thought the same. They took my $.26 balance I had at the time, but didnt take the account negative. This was a couple years ago after opening a new CD, and the savings account still sits there inactive with a zero available balance today.
Hmm, maybe I should have left it like you do in case I need it in the future. I was worried that they might take the account negative at some point in the future if their policy changes. So I closed it.