Wells Fargo Bank Way2Save Savings Account Review

Wells Fargo Bank Way2Save Savings Account is offered by Wells Fargo Bank, a bank founded in 1852 and based in San Francisco, CA. Wells Fargo Bank Way2Save Savings Account is offered in 50 states (and Washington, DC).

Are savings accounts from Wells Fargo Bank federally insured?

Yes, your Wells Fargo Bank savings accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What APY does Wells Fargo Bank offer?

Wells Fargo Bank Way2Save Savings Account offers an APY of 0.01% (APY stands for annual percentage yield, rates may change).

What features and perks does Wells Fargo Bank Way2Save Savings Account offer?

This account includes the following features:

• Automatic savings - Set up an automatic transfer from your checking account to a savings account and you'll never have to second-guess your saving decisions again.
• Fraud monitoring - Wells Fargo Bank Way2Save Savings Account monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location or you make a sudden string of costly purchases.
• Nationwide ATM network - Withdraw money and check your balance from wherever you are.

What fees does Wells Fargo Bank Way2Save Savings Account charge?

Wells Fargo Bank Way2Save Savings Account does not charge a monthly maintenance fee. See the fee breakdown section below to view all fees.

However, you can waive the monthly fee if you have a minimum daily balance of $25. Avoid the monthly fee by setting up a direct deposit of at least $25.

• Outgoing domestic bank transfers come with a $30 fee.
• Wells Fargo Bank Way2Save Savings Account charges $5 every time you request a paper statement.