Wells Fargo has expanded its promotions in the United States, including a $50 rebate for new customers.
The bank said it is now offering new customers $50 off an ATM fee of $1 per transaction, and customers can get up to $300 off a credit card balance.
Wells Fargo also said it has started giving customers free gift cards for every new transaction.
Wells also announced a new “mobile gift card” program for $1 off all purchases.
The move came in response to a recent trend that has seen Wells Fargo customers in some states offering up to 30% cash back at many merchants, even if they have not yet opened a branch.
The company has also launched a new mobile phone app, the Wells Fargo Payback Mobile, that allows customers to check balances, make purchases, and get credit.
The new promotions are part of a broader effort by Wells Fargo to increase its presence in the U.S. economy.
Last month, Wells Fargo expanded its online banking service to more than 400,000 customers in California and New York.
“We have been preparing for this for quite some time,” said Ken Poh, chief executive of Wells Fargo in a statement.
“It is not a question of whether or not there is competition in the bank business, but whether we can maintain a level playing field that benefits our customers and our employees.”
The bank’s new promotions come as Wells Fargo’s share price continues to decline.
Shares of Wells were down about 7% at $26.76 in premarket trading on Tuesday.