Home
>
Reviews
>
Wells Fargo

Wells Fargo Reviews

Offering a Myriad of Financial Services

Written by Angela Mae

About Wells Fargo | Read More

LS Score

Credibility

Support

Accessibility

Visit Site

Opening Hours

Mon-Sun 24/7

Contact Information

1-800-869-3557
Corporate Offices: Wells Fargo, 420 Montgomery Street, San Francisco, CA 94104

Social Media

LS Score

Credibility

Support

Accessibility

Visit Site

Opening Hours

Mon-Sun 24/7

Contact Information

1-800-869-3557
Corporate Offices: Wells Fargo, 420 Montgomery Street, San Francisco, CA 94104

Social Media

Wells Fargo Online Banking Review

Wells Fargo Bank is one of the largest banks in the United States, and it offers a wide range of banking solutions for individuals and businesses. These solutions include checking and savings accounts, credit cards, loans, investments, and retirement planning. The company’s website breaks down each of these categories into easy-to-understand sections.

Wells Fargo also offers a variety of online and mobile banking services, making it easy for customers to manage their finances on the go.

Wells Fargo Online Banking Highlight

$25

Min Deposit

12,000 Wells Fargo ATMs

ATM Network

$35

Overdraft Fees

Maintenance Fees

Yes

Other Fees

Online Banking Savings

$25

Min Deposit

$300

Min Balance

0.15-2.5%

Min APY Savings

Online Banking Checking

$25

Min Deposit

Max 0.25%

Min APY Checking

Business Online Banking

$25

Min Deposit

$500

Min Balance

0.15-2.5%

Min APY Business

Pros & Cons

Many personal and small business checking accounts and savings accounts
Wealth management and investment services available
Transparent yields, requirements, and fees

May need a high daily minimum balance to avoid maintenance service fees
Accounts may come with additional fees, such as out-of-network fees
Lower than average APY compared to digital-only banks

Account types

Checking
Savings
Certificates of Deposit (CD)

Visit Site

APY's

Account	APY
Personal Checking	No interest bearing accounts for Clear Access Banking and Everyday Checking Prime Checking: 0.05% to 0.10% APY Premier Checking: 0.25% to 0.50% APY
Personal Savings	Way2Save Savings: 0.15% APY Platinum Savings: 0.25% to 2.50% APY
Personal CDs	Special Fixed Rate CDs: 4.25% APY on 5 month-term with 3-month renewal Standard Fixed rate CDs: 0.50% to 1.01% APY on 3-month CDs 2.50% APY on 6-month CDs 1.50% to 2.00% APY on 12-month CDs
Small Business Savings	Business Market Rate Savings: 0.15% APY Business Platinum Savings: 0.25% to 2.50% APY
Small Business Time Accounts CD	Special Fixed Rate CD: 4.25% APY on 5-month CDs with 3-month renewal Standard Fixed Rate CDs 0.01% APY on 1-month CDs 0.50% to 1.01% APY on 3-5-month CDs 2.50% APY on 6-144-month CDs

Features Benefits & Rewards

Personal checking:

Many tiered options
Ability to waive monthly service fees
Early paycheck deposit
24/7 monitoring with zero liability protection
No minimum daily balance requirements
Top tiers earn interest
Top tiers have ATM fee waivers and interest rate discounts

Personal savings:

Way2Save account has 0.15% APY
Platinum Savings has 0.25% to 2.50% APY
Mobile app (also with checking)
Overdraft protection
Access to My Savings Plan (Wells Fargo Platinum Savings account only)

CDs:

Various term and APY options

Small business accounts:

Potentially high APYs
Business rewards card that earns points for merchandise and travel

Account Types

Personal Checking Accounts

Wells Fargo has four different tiers of personal checking accounts, each tailored to a specific type of person. The Clear Access Banking account, for example, is designed for young people just starting out with banking. The Premier Checking account, meanwhile, is meant for more experienced individuals looking for additional discounts and benefits.

All checking accounts have a minimum deposit requirement of $25. They also come with a monthly service fee, which can be waived by keeping a minimum daily balance.

Checking Account Type	Key Features Bonuses
Clear Access Banking	No overdraft fees No monthly service fee if the owner is between 13 and 24 years old Early payday Ideal for younger people
Everyday Checking	Optional overdraft protection Best for general banking purposes No minimum daily balance needed (except to avoid monthly service fees) Mobile deposit available
Prime Checking	Discounts on interest rates for certain Wells Fargo loans Access to Relationship Interest Rates when linked with either a CD or savings account Waivable account fees
Premier Checking	Tools to help reach your financial goals Waivable account maintenance and ATM fees No international transaction fees 2% discount on foreign currency exchange

Personal Savings Accounts

Wells Fargo offers two personal savings accounts: Way2Save Savings and Platinum Savings. These accounts both come with optional overdraft protection and can be linked to a checking account. They also come with a monthly service fee that can be avoided by meeting certain requirements.

The Way2Save Savings account is a simple account that makes it easier to save money. The Platinum Savings account has a higher annual percentage yield — called Relationship Interest Rates.

Saving Account Type	Key Features Bonuses
Way2Save Savings	Access to Save As You Go (automatic savings feature) Optional overdraft protection on your checking account 0.15% APY
Platinum Savings	Up to 2.50% APY Waivable account fees

Personal CD Accounts

The Wells Fargo Certificate of Deposit account comes in two main forms: Special Fixed Rate and Standard Fixed Rate CDs.

The Special Fixed Rate CD is for five months and has a renewal term of 3 months. The current APY on this CD is 4.25%. This CD has a minimum opening deposit of $5,000.

The Standard Fixed Rate has several term lengths to choose from. The APY depends on the term and ranges between 0.50% and 2.50%. This option is a minimum opening deposit of $2,500.

Small Business Checking Accounts

Wells Fargo offers three small business checking accounts, each of which is based on the size of the business. Each account benefits from no transaction fees — up to a certain number of transactions. The highest tiered checking account also comes with the most free transactions.

The first two tiers, Initiate Business Checking and Navigate Business Checking, allows you to avoid the monthly service fee with a minimum daily balance. The final tier, the Optimize Business Checking, comes with advanced digital solutions designed to help you run your business more efficiently.

Account Type	Key Features Bonuses
Initiate Business Checking	Various business tools and features to help businesses grow
Navigate Business Checking	Convenient tools for established businesses Waivable monthly fees
Optimize Business Checking	Streamlined tools and features to help your business run smoothly Option to link up to five business checking accounts

Small Business Savings and CD Accounts

Wells Fargo also has two small business savings accounts and one Certificate of Deposit account.

The Business Market Rate Savings account is intended for businesses that keep a lower daily balance. The Business Platinum Savings is designed for larger businesses on the road to growth and expansion. Both of these accounts have a monthly service fee that can be waived by meeting specific balance and transaction criteria.

The Business Market Rate Savings account has an APY of 0.15% for all balances over $0. For higher APYs, the Business Platinum Savings account may be better. It does have higher balance requirements, though.

If you’re interested in a business CD, Wells Fargo has the Business Time Account CD. This requires an opening deposit of $2,500. There are also a couple of options to choose from, such as the Special Fixed Rate and Standard Fixed Rate CDs. Term lengths and APYs vary based on the CD you choose.

Account Type	Key Features Bonuses
Business Market Rate Savings	Up to 0.15% APY
Business Platinum Savings	Up to 2.50% APY
Business Time Accounts (CDs)	4.25% APY for special fixed rate CDs with a 5-month term Terms range from 1 to 144 months

Opening an Account With Wells Fargo

Opening an account with Wells Fargo begins with deciding on the type of account you want. Head to the main website and review the company’s personal and business account options. Click on each type for more detailed information about the account, such as its requirements, fees, and perks.

One you’ve decided on an account, begin the online application process. For a personal checking account, for example, hover over “Checking” and click “View All Checking Accounts” to see the options. Scroll down until you see the one you want and click on it.

The process takes between 10 and 20 minutes. You’ll need to provide certain information, such as your SSN, government ID details, personal information, and whether you have a current account with Wells Fargo.

Some accounts require you to make an opening deposit. Once you’ve done this and completed the application, simply wait for a response. Wells Fargo will need to verify your information, which can take a few business days or beyond. If approved, you’ll be able to access your account and start using it right away. If you’ve ordered a card to go along with the account, you may have to wait for it to arrive to use it.

State Availability

- Available in all states

Written by Angela Mae

Angela Mae is a personal finance writer specializing in loans, debt management, investing, retirement planning, and financial literacy. She comes from a journalistic background and pulls from hands-on experience and deep-dive research to breathe life into her stories. Her goal is to help others achieve financial stability and independence. When not writing, she can be found traveling, honing her yoga skills, hiking, or exploring new means of healthy, sustainable living.

FAQ’s

Can you sign up for multiple Wells Fargo products?

Yes, it’s possible to open a bank account with Wells Fargo, as well as apply for other products like auto loans.

What can you do with Wells Fargo Online?

You can manage your business or personal accounts online or via the app. You can also view tax documents. You’ll need certain information to get started, such as an email address and your Social Security number.

What’s Wells Fargo known for?

The company is one of the largest banks in the United States. It’s known for offering an array of banking options, including personal banking and lending, business banking, investment services, and wealth management services.

Can I earn interest on a CD at Wells Fargo?

Yes, Wells Fargo offers interest-earning CDs with varying terms and rates.

Customer Support

When contacted via phone, Wells Fargo typically has a wait time. This can be anywhere from a few minutes to 30+ minutes. The representatives are generally professional and able to resolve issues. The company also has 24/7 customer support for general banking.

However, Wells Fargo does not seem to have the best customer reviews online. On Trustpilot, it has 1.3 out of 5 stars with 970 reviews. On the Better Business Bureau (BBB), it has 1.07 out of 5 stars with 715 customer reviews. The common consensus is that the customer service is not great and that many current customers have experienced difficulty using their banking services.

Privacy & Security

Wells Fargo is a financial services company that’s governed by the laws of the state of Minnesota. The company works with people nationwide and is committed to upholding the utmost privacy and security standards. As part of this, Wells Fargo has several pages dedicated to outlining its privacy policies, data collection and sharing strategies, and liability.

Like other online banks and credit unions, Wells Fargo may collect and share certain personal information with its affiliates. This includes things like the user’s social security number, credit details, and account information. The company gathers most of this information when someone creates an account.

Although Wells Fargo has various physical and digital safeguards in place, it does not guarantee complete privacy. Nor does it hold itself responsible for the loss of secure information.

The company does strive to prevent and quickly resolve any data breaches to ensure maximum security. However, it has had some issues when it comes to illegal conduct — particularly with unfair and deceptive practices.

In Conclusion

Wells Fargo provides a large selection of different banking options, including personal and business checking and savings accounts. It also offers auto loans, small business support, and wealth management and investment services. Further, the company has an intuitive mobile app that lets users manage their accounts on the go.

This company is also a member of FDIC, meaning its accounts are protected against bank failure up to a certain amount. However, the investment and insurance products are not FDIC insured.

One area where Wells Fargo could improve is in its customer support. Many of the negative online reviews are in regard to poor or inefficient customer service.

Brand Disclaimer

Disclaimer and Limitation of Liability

THE SERVICES, INCLUDING THE SITE (INCLUDING ALL CONTENT, FUNCTIONALITY, AND MATERIALS), ARE OFFERED BY WELLS FARGO ON AN “AS IS,” “AS AVAILABLE,” “WHERE IS,” AND “WHERE AVAILABLE” BASIS, WITH NO WARRANTY OF ANY KIND—WHETHER EXPRESS, IMPLIED, OR STATUTORY—INCLUDING, BUT NOT LIMITED TO, WARRANTIES OF TITLE OR THE IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR NONINFRINGEMENT. THIS DOES NOT AFFECT THOSE WARRANTIES WHICH ARE INCAPABLE OF EXCLUSION, RESTRICTION, OR MODIFICATION UNDER THE LAWS APPLICABLE TO THESE TERMS OF USE.

YOU ACKNOWLEDGE THAT NEITHER WELLS FARGO, ITS DIRECT OR INDIRECT SUBSIDIARIES, NOR ANY OF THEIR RESPECTIVE EMPLOYEES, AGENTS, THIRD PARTY PROVIDERS, OR LICENSORS WARRANT THAT THE SERVICES WILL BE UNINTERRUPTED OR ERROR FREE; NOR DO THEY MAKE ANY WARRANTY AS TO THE RESULTS THAT MAY BE OBTAINED FROM USE OF THE SERVICES, OR AS TO THE TIMELINESS, SEQUENCE, ACCURACY, RELIABILITY, COMPLETENESS, OR CONTENT OF ANY INFORMATION, SERVICE, OR PRODUCT PROVIDED THROUGH THE SERVICES. WELLS FARGO DOES NOT ENDORSE PRODUCTS OR SERVICES APPEARING ON LINKED SITES OR PURCHASED VIA LINKED SITES.

TO THE MAXIMUM EXTENT PERMISSIBLE UNDER APPLICABLE LAW, IN NO EVENT SHALL WELLS FARGO BE RESPONSIBLE FOR ANY LOSS OF ANY KIND, INCLUDING LOSS ASSOCIATED WITH ANY COMPUTER VIRUSES WHICH MAY INFECT YOUR COMPUTER SYSTEM OR MOBILE DEVICE, PROPERTY DAMAGE, AND BODILY INJURY, WHETHER CAUSED BY ACCESS TO OR USE OF THE SERVICES OR THE SITE. TO THE MAXIMUM EXTENT PERMISSIBLE UNDER APPLICABLE LAW, IN NO EVENT SHALL WELLS FARGO BE RESPONSIBLE TO YOU OR ANY THIRD PARTY CLAIMING THROUGH YOU FOR ANY DIRECT, INDIRECT, SPECIAL, CONSEQUENTIAL, INCIDENTAL, PUNITIVE, EXEMPLARY, LOST PROFITS, ECONOMIC OR OTHER DAMAGES ARISING IN ANY WAY OUT OF THE INSTALLATION OR USE (OR INABILITY TO USE) OF THE SERVICES, THE SITE, ANY ONLINE SERVICES OR ANY INTERNET BROWSER SOFTWARE AND REGARDLESS OF THE FORM OF ACTION, WHETHER IN CONTRACT, WARRANTY, TORT (INCLUDING NEGLIGENCE), STRICT LIABILITY, OR OTHERWISE.