Everyday Checking
Everyday Checking is Wells Fargo Bank’s most popular checking account option. You’ll need to deposit at least $25 to open the account. This checking account may be ideal for students since the $10 monthly service fee is waived for college students when the primary account owner is 17 to 24 years old.
Clear Access Banking
Clear Access Banking is designed for teens aged 13 to 17 who want to open an account with an adult co-owner. Visit a branch to open an account. Both teens and adult co-owners have access to the account, which can help teach kids the basics of money management.
ChexSystems is a company responsible for maintaining negative banking history reports for consumers. If you’ve had a banking snafu in the past, it may be worthwhile to learn how you can clear up your ChexSystems report.
Way2Save Savings
You can make automatic deposits to this account through Save As You Go transfers. The program transfers $1 from your checking to savings account whenever you make non-recurring debit purchases and any online bill payment transactions.
Also, you can set up monthly automatic transfers of $25 or more. This account can be linked to your checking account for overdraft protection. You can earn a 0.01% APY on all balances.
Platinum Savings
The Platinum Savings Account offers a similar APY of 0.01% with the opportunity to increase that to 0.02% if you have a linked Portfolio by Wells Fargo checking account.
Though it’s a savings account, you have the ability to write checks from this account as long as you have the sufficient funds in the account. You can also link this account to a regular Wells Fargo checking account for overdraft protection. The minimum opening deposit is $25.
Wells Fargo CDs
Standard CDs are traditional fixed-rate CD accounts with a $2,500 minimum deposit. Destination IRA CDs offer interest rates and term lengths with guaranteed installment loans for bad credit direct lenders retirement in mind. The minimum deposit for an IRA CD is $1,000 and you need an existing Wells Fargo account to avail the rates.
Here are the rates you can earn for each CD option (bonus APYs apply if you have a Portfolio account with Wells Fargo).:
Credit Cards
Wells Fargo offers a number of credit cards, including rewards cards and a card with a low introductory APR for purchases and balance transfers. Here are some of the cards the bank offers:
Wells Fargo Bank Customer Service
Wells Fargo offers the standard customer service benefits you’d expect with a bank of this size. That includes the option to manage your account over the phone, online, via mobile banking, at an ATM, or a branch location. It also offers the option to live chat with customer service agents.
In J.D. Power’s 2020 National Banking Satisfaction Study, Wells Fargo received a rating of 612, which is below the industry average of 657.
Wells Fargo was the subject of close scrutiny following revelations that bank employees had opened accounts in customers’ names without their consent. In , the federal government fined the bank $3 billion to resolve the bank’s potential criminal and civil liability.
How to Bank With Wells Fargo
You can open an account with Wells Fargo by visiting a branch or online. You can also call Wells Fargo at 1-866-370-2264. Remember, you’ll need to provide certain personal information when opening a bank account.
Our review found Wells Fargo to be a good option for anyone who wants to bank with an established financial institution and has a variety of banking needs.
You may also lean toward Wells Fargo if you’d prefer to have access to branch banking or you need help with private wealth management.
While there are various ways to avoid the monthly service fees associated with Wells Fargo checking products, it’s possible to find fee-free checking elsewhere.
Aside from that, the interest rate you can earn on savings isn’t great. If you’re hoping to lock in a competitive APY on savings, you can find better options from online banks.