Features

Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified financial services company with $1.7 trillion in assets. Founded in 1852 as a scrappy outfit in Wild West during the mid-19th centruy California Gold Rush. Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance services through more than 8,700 locations, more than 12,500 ATMs, online (wellsfargo.com), and mobile devices. The company has its headquarters in San Francisco, but it has a decentralized structure that allows every local Wells Fargo store be its own headquarters.

Wells Fargo has over 70 million customers. That is one in every three U.S. households. It has approximately 266,000 team members in 36 countries across more than 90 businesses. At the end of first quarter 2015, Wells Fargo ranked fourth in assets among U.S. banks and was the world’s most valuable bank by market capitalization. In 2014, Wells Fargo was named “Most Respected Bank” by Barron’s magazine, “Most Admired” among the world’s largest banks by Fortune magazine, and “Best U.S. Bank” by The Banker magazine. The Chronicle of Philanthropy ranked Wells Fargo’s corporate cash giving in the top two among all U.S. companies each of the past two years.

What Are Wells Fargo's Checking and Savings Accounts Like?

Wells Fargo's checking has a $50 minimum opening deposit. Monthly service fees range from $10 to $30 depending on the type of account. However, you can avoid the fee by using your debit card to make 10 purchases, making $500 in direct deposits, or keeping a $1,500 minimum daily balance. These requirements are unusually easy to meet for a major bank, which makes it a good account for people with low to moderate incomes. 

Users should be aware of:

  • High out-of-network ATM fees and that Wells Fargo's ATM network is not that large.
  • There is also a 3% fee on international debit card transactions.
  • A $35 overdraft fee
  • A $12.50 fee per transfer from a linked savings account for overdraft protection.

The savings account has a $25 minimum opening deposit. It also has a $5 monthly service fee, which is waived if you maintain a $300 minumum daily balance, have recurring saving options, or if you're under 18.

Don't expect much in the way of interest: the APY is only 0.01%. On the other hand, Wells Fargo's automated savings feature, and the ability to transfer as little as a $1 a day from your checking account make this savings account easier and less intimidating to use. 

What Are the Advantages and Disadvantages of Wells Fargo?

We like this:

  • Customers with substantial balances ($1,500 and $5,000) receive free checking and a higher APY of 0.05%.
  • Low daily transfers to its savings account.
  • Easy to get checking and saving fees waived.
  • Comprehensive banking and financial services under one roof.
  • Excellent customer service.
  • Wide geographic coverage in the U.S.

We're not so thrilled about this:

  • High fees for international travelers. Unless you have $250,000 in a Premier Checking Account, expect to pay 3% foreign transaction fee and $5 for using an ATM outside of the U.S.
  • Customers with lower balances recieve laughable interest rates.
  • Out-of-network ATM fee of $2.50
  • Not a huge ATM network 

 

 

  • Branch
  • Online
  • CDs
  • Checking
  • IRAs
  • Savings
  • Mobile App
  • Savings Interest Rate
    0.01%
  • Checking Interest Rate
    0.01%
  • Bauer Financial A+/A Rating
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0 votes

Wells Fargo, how can I give review? Poor, my great grandfather was Phillip Edward Jehle Romanov, His social was 541-98-0575; born June 22, 1874; died January 22, 1947 I inherited all accounts. Except never given access. I was informed I forfieted money, bullshit. Money taken from his accounts transferred to others. I have learned much. I am expected to be silent. I went into Welks Fargo and they told me in person I own nothing. Except they transferred my father's mortgage to me onto my credit report demanding I pay the mortgage ... from my inherited account. Irony they refused me access, poor customer service. I am pissed I get a bill for lousy $150,000 but they keep my billions. Go screw yourselves please. I informed FBI, IRS, US Treasury, Federal Reserve, guesse someone let the cat out of the bag. Money used to create fake accounts since 1983. I wonder who's money they used? I live in poverty while your executives get paid hundreds of millions. I reject your credit rating as F for failure and usage of accounts of those depositors you swore to protect. Wells Fargo credit rating is F. No increase permitted. Violation of federal reserve regulation. Federal reserve regulation state 10 years after non access account to be transferred to federal reserve as reserve funds. He has been dead since 1947 yet active account? Someone been accessing and it is not account holder. Since I get no answers and refused statements I publicly submit his information to the public for thier review of your actions. Transparency goes both ways. I inherited his social security number, you just stole his money. I inherited his title. You inherited the debt because I own your bank. Refusing to acknowledge shows lawyer speech not validity of action. Validity of duty violated you no longer are fit to hold his accounts and are forfiet said duty. He was a last high king of Judea, Israel granted my citizebship 2015, I hold no authority over any nation or government. I hold no access to accounts in question. I hold nothing. I am nothing. Therefore you are the bank of nothing. Wells Fargo is dead to me. No investment is permitted by any of my family. You are banned from my families investments. You are banned from our service your bank is no longer approved. Credit is halted by order High King. More Less


0 votes

I wanted in a branch in Waynesboro Virginia five tellers were standing there talking one asked Can I help you sir yes can I pay the mortgage balance, you call the mortgage company we don't do that here, I had a check made out in my name for well over twenty thousand dollars no one wanted to help, I never was so insulted. You should close all of your branches in Va and do all your business on the cell phone


0 votes

I like Wells Fargo they look out for there customers.


0 votes

They know how to treat you at Wells Fargo! I was previously at a bank that I won't mention here that treated me like something else I won't mention. I finally got totally fed up and decided to go to Wells Fargo after a friend suggested it. I am so glad I took his advice.


0 votes

I know that Wells Fargo is accurate, which is great, because I've had other banks where they weren't so on top of things. My biggest beef with Wells Fargo is that they have some outrageous fees. You really need to be careful that you don't get any of these fees, because they add up really fast. Like the four overdraft fees I got for $39 a pop!


0 votes

Like a lot of people , i didn't give retirement much thought until now. I am 42 yrs.old and just left Wells Fargo after putting together a retirement plan. My only regret is not doing it sooner. The representative said i wasn't alone and assured me that i will have no worries when i become unemployed and can spend all my time fishing on my boat. Thank you.


0 votes

Fees , all banks have them. I don't mind them if i am treated with respect and am receiving a service. The people at Wells Fargo are always pleasant and eager to help me in any way they can. So if you are upset with your bank charging fees , maybe you need to switch banks. Or buy a safe.


0 votes

I am recently divorced so needless to say my finances werent in the best shape. The representative at wells fargo was very understanding and put together a plan to rebuild my credit . My credit score is getting better and I can't thank him enough.


0 votes

These guys are great. They gave me a second chance bank account when nobody else would. They even worked with me when it was overdrawn.


0 votes

I've been a Wells Fargo customer for a long, long time. I actually switched over from Bank of America in the 90s, which is incredible how time flies. Anyway, I have been really happy with Wells Fargo--obviously! They have great customer service and things just always add up with them.


0 votes

If you want a bank that will always do right by you and is accurate and efficient, I would highly recommend Wells Fargo. They know how to provide excellent customer service, and their products are terrific. I know you would be happy to go with them, so I suggest doing so.


0 votes

i needed a loan to expand my business . I visited 3 other banks besides Wells Fargo . The loan officer was very patient in going over my options to make sure i understood . I left with the loan and piece of mind that my business is growing .


0 votes

I recently came into a substantial amount or money and a friend referred me to wells Fargo. They helped me put together a long term portfolio that I can live with. I have money to play with and the kids will go to college. Win win for everyone!


0 votes

I needed a vehicle and my credit score was in the basement. I found a dealership that would finance me at a very high interest rate. I bank at Wells Fargo and told them about my loan. They informed me if I make on time payments they would refinance my loan. Well, they stayed true their word. My payments are now over $200 less and my credit has gone up substantially. They also set me up with a prepaid credit card that is also helping my credit score.


0 votes

Wells Fargo let me open a second chance bank account when I didn't think anyone else would. Thanks to them I am now able to have a checking account again and feel like an adult.


0 votes

I've been using Wells Fargo for 15 years now and I've been pleased with just about every transaction I've done over the years. I love my personal banker that they assigned me. It's so nice to be treated like a real person and not a number.


0 votes

The biggest complaint I've heard people say about Wells Fargo is their fees, but I haven't found that to be too bad. I have several accounts and when we put the together we don't pay a fee. As far as overdraft fees, etc., I usually don't get those, so they aren't a problem for me.


0 votes

Great products, great rates, great people. What more could you want from the people you trust your money with? Wells Fargo has always done me right.


0 votes

Wells Fargo let me open a second chance bank account when I didn't think anyone else would. Thanks to them I am now able to have a checking account again and feel like an adult.


0 votes

If you want your banking done right, this is the bank to go to. I have them handle a wide variety of my banking needs, from checking to my credit card. They are always on target in terms of what I need for my finances and what will work for me.


0 votes

Pretty good experience with this bank. I am, however, not happy with how much they charge if you get an overdraft. I think $39 is high, and I think $12 if you have an overdraft when you've set it up to go to overdraft is also high. Other than that I'm happy with their services.


0 votes

online banking .....love it!!! Haven't had any security issues and there are so many services. on the occasions I do have to go to the branch Im greeted with a smile and I leave with one.


0 votes

I rarely have to call customer service for Wells Fargo, but recently I had to to get a question answered. They took care of the problem quickly and efficiently, and I was able to get back to the task on hand which was trying to buy a house. My good standing with Wells Fargo helped me to see that through and get the house of my dreams.


0 votes

As long as you don't get overdraft fees with Wells Fargo, they are a pretty good bank. They are always accurate, which makes a huge difference and they have a lot of bank branches, so I can usually find one when I need one. They also have a bunch of ATMs.


0 votes

I had banked at my previous bank for roughly 6 yrs. Comfortable with no major complaints. I was given a check from a Wells Fargo costumer. Couldn't wait for it to clear so i went to a W.F. branch to cash it. The teller asked if i had an account. I told her I did not . Long story short, I left with an account. Moral of this story, don't get complacent or you will sell yourself short.


0 votes

The security with Wells Fargo seems to be great. I travel a lot for work and often have to log on from hotels, etc., not always with the securest connections. I have to say that I haven't had trouble, and I think that is just amazing. I also have to say that I love their check styles that you can choose from--and I get mine for free with my account.


0 votes

To be perfectly honest, I really wasn't looking for a new bank, but the customer service I got from the people at Wells Fargo everytime I had to go there, made me change my mind. Now I am a loyal customer.


0 votes

This bank gets thingss done, and they get things done the way they want to do it. That being said, the way they want to do it is usually the best thing for you. Either way, they are rooting for you and making sure that you have the best banking experience ever.


0 votes

Wells Fargo is my absolute favorite bank! I've tried several others, including online ones, and I just keep going back to Wells, as I like to call it. The customer service tops the charts and the products are really good. Their accuracy is also excellent.


0 votes

I used to go to another big name bank that will rename nameless in this review. They messed up my account over and over and over again! Just when I had ripped out most of my hair over my banking, a friend took me to Wells Fargo to sign up. The rest is history!


0 votes

I have several accounts with Wells Fargo, so I have it set up where I never pay any fees. Add to that the fact that I also get free checks and I can get service 24/7 and I think that this is a pretty sweet deal. I wouldn't bank anywhere else. I am with Wells Fargo all the way!


0 votes

I love Wells Fargo. They are so pleasant whenever I have any business with them, and they are always accurate, too. This means a lot to me, because when I get busy and can't take a look at my accounts until later, I know that they are watching over things for me. Then whenever I have the chance to check things out they are always spot on.


0 votes

If you want a bank that is accurate, I would go with Wells Fargo. I have never had the mess anything up, and I've been banking with them for many years. That is definitely saying something! I trust them and am really glad that I can open my statements and see that everything is as it should be.


0 votes

I don't like fees,but I don't like inaccuracy more. And Wells Fargo is accurate. I haven't had a mistake on any of my statements, etc. and I've been banking with them for 12 years. Yes, their fees can be bad if you have an overdraft, but they also have ways for you to bundle your accounts so you don't pay any fees at all. I don't pay anything unless I have an overdraft fee, and I try really hard not to get those!


0 votes

I have had a couple of fee discrepancies on my statements. I wasn't even aware of them until they were already corrected. They have earned my trust and my business. I will give them 5 stars if this doesn't happen next quarter.


0 votes

The fact that Wells Fargo has personal bankers you can go to to ask questions and apply for loans and credit cards lets you know what a great bank this is. Many banks call themselves personal, but there is nothing personal about it. You have to talk to an anonymous voice on the phone, a nd that's all they do. Not Wells Fargo.


0 votes

Accuracy is huge when it comes to your personal finances and what you have in the bank. Wells Fargo make sure that things are done the way they should be and that everything is totally accurate. I am really enamored with this company and think I always will be.


0 votes

Wells Fargo needs to make money like all other banking institutions so you can't fault them for charging some fees. While I'm not happy with the cost of the various fees, I undestand that they have to make things pay for them, too. The good news is that I rarely do anything to incur fees.


0 votes

I was using one of the other big name banks before I switched to Wells Fargo. I actually was having trouble at this other bank because they were making mistakes in my account and the people were nice but they didn't seem to know what they were talking about. I've never had that experience at Wells Fargo. They seem to always know what's best for my financial situation.


0 votes

I love Wells Fargo! I have been a customer for 17 years, and I have to say that I can't even count on my hand when they've made a mistake. You cna't get accuracy like that many places. I hope that they keep up the good work, so I can be a customer for another 17 years.

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