Wells Fargo

8.7

Overall Score

29 User Reviews

Claim this Profile

BestCompany.com is trying to work directly with this company to verify the accuracy of the information on this page. Thank you for your patience as we make sure we’re getting it right.

Are you a representative

of this company?

Claim this Profile

 

Wells Fargo is a San Francisco-based company and has been in business since March 1852. It started off buying gold and selling paper bank drafts as good as gold. It quickly gained credibility and a reputation of trust due to how well it handled people’s money. Wells Fargo offers a variety of services including personal checking, savings accounts, credit cards and an online mortgage rate calculator. Customers will have access to Wells Fargo’s more than 8,700 locations and online banking services.

The Good

  • Availability
  • Great services
  • Mobile wallet

Availability

Wells Fargo Bank has more than 8,700 locations, more than 12,500 ATMs, online (wellsfargo.com), and mobile devices. Wells Fargo is across the nation and consumers can go online to find the nearest location or ATM in seconds. If there are other questions one can contact customer service anytime, 7 days a week.Wells Fargo has been in business for over 100 years with 1.7 trillion in assets. They are a developed bank that provide many services for customer needs like:

  • banking for checking and saving
  • insurance for health, auto, and home
  • investments for IRA, health savings, and mutual funds
  • loans for mortgage, automobiles, student, home equity, and credit cards
  • consumer and commercial finance services

Great Services

Wells Fargo provides some of the most comprehensive banking services. The California-based company offers many services including the following:

  • Personal checking
  • Business checking
  • Savings accounts
  • CD's
  • Debit cards
  • Credit cards
  • Student loans
  • Auto loans
  • Online banking
  • Identity theft protection

Mobile Wallet

Wells Fargo also offers mobile wallet services, merchant accounts and a mobile app allowing customers to handle their money and deposit checks via smartphone.The bank also offers a service called the Smarter Credit Center. This center enables customers to do the following:

  • Establish
  • Credit
  • Improve or rebuild credit
  • Manage debt
  • Explore options to meet borrowing needs

One bonus is that when a checking account is opened you get free online banking and bill pay. They are a national bank with more than 8,700 locations and 12,500 ATMs, as well as online services which were described above.

The Bad

  • Initial deposit
  • High minimum CD
  • Banking fees

Initial Deposit

Compared to other banks who offer personal checking accounts, Wells Fargo's initial deposit is double at $50. For customers who do not meet the basic monthly exemptions, Wells Fargo's $10 monthly fee for checking accounts is also higher than most banks.

High Minimum CD

Wells Fargo also has a higher minimum CD of $2,500 compared to other banks. Customers must wait until their deposit matures unlike some banks who allow customers to withdraw their deposit early with no penalties.

Banking Fees

They have many banking fees for checking accounts which include:

  • Opening account fee. For checking it is $50 if you open on site. Over the phone or online it would be a $25 opening fee
  • Maintenance fee: again depends on the account but for a regular checking it would be $10 per month unless you have a $500 total deposit or use your debit card for 10 transactions
  • Overdraft and returned items fee: $35 for each overdraft fee

The Bottom Line

Wells Fargo has proved themselves to be a secure bank to open an account with an individual, small business, or commercial company.  Their many services provide an excellent source for financial needs. They offer customer service 24/7 if a customer has questions or concerns.

For customers who want the most banking options possible, Wells Fargo has much to offer. Wells Fargo offers banking solutions at the personal, small business and commercial level. However, Wells Fargo has higher deposit minimums for its CD and personal checking account. It also has low customer satisfaction ratings on Consumer Affairs and Credit Karma.

Our recommendation: Depending on how much you're willing to deposit initially, Wells Fargo may be one of your best options. After all, it has been in business since 1852.

User Reviews

3.5

Write a Review
Sort By:
  • 10

    November 20th, 2017 South Jordan, UT DETAILS

    Value for your money
    Quality of product or service
    Customer Service
    Company trustworthiness

    I love this bank. Great online services, great credit card options, easy to do business with. Loan services are also exceptional.

    Helpful?
  • 8

    November 20th, 2017 South Jordan, UT DETAILS

    Value for your money
    Quality of product or service
    Customer Service
    Company trustworthiness

    We have banked with Wells Fargo for about 20 years. We have been pleased with our experience. We have had savings and checking accounts, loans, and credit card accounts. Our experience has always been positive.

    Helpful?
  • 8

    November 20th, 2017 South Jordan, UT DETAILS

    Value for your money
    Quality of product or service
    Customer Service
    Company trustworthiness

    They've always been very helpful when I call about renewing or getting a new debit/credit card. They're a reliable bank that I trust.

    Helpful?
  • 2

    November 12th, 2017 Provo, UT

    You don't have to search long at all to find numerous terrible reports of Wells Fargo's shady business practices regarding both its lowest-tier employees and its customers. It seems they are in the news frequently, and I will continue to boycott this bloated, unethical institution indefinitely. Some companies deserve to fail.

    Helpful?
  • 10

    November 9th, 2017 Fremont, CA DETAILS

    Value for your money
    Quality of product or service
    Customer Service
    Company trustworthiness

    I've banked with Wells Fargo over 20 years. I really like that they have branches all over the US. I like to travel and I can usually find a branch wherever I go. I maintain their balance requirements to have free checking. I have enough money in my account to even get free checks. They don't pay very much interest on my savings so I don't recommend them for savings. I have a small savings account with them and several checking accounts. I like that they give college students free checking and savings accounts. My children have accounts linked to mine so it makes it easy to transfer money to them. Of course nowadays they've made it even easier with Zelle. I can transfer money to anyone with their phone or email.

    Helpful?
  • 4

    November 8th, 2017 Newberg, OR DETAILS

    Value for your money
    Quality of product or service
    Customer Service
    Company trustworthiness

    They are are a big box store. If you do not fit in their system you are out of luck. They are very quick to close your account but at least they do it with a smile.

    Helpful?
  • 2

    November 7th, 2017 Provo, UT DETAILS

    Value for your money
    Quality of product or service
    Customer Service
    Company trustworthiness

    I've never had a good experience with this bank. From opening the account, to extraneous fees, to exchanging currency, all the way to closing my account, there were always unexpected and seemingly baseless issues.

    Helpful?
  • 4

    November 6th, 2017 Orem, UT DETAILS

    Value for your money
    Quality of product or service
    Customer Service
    Company trustworthiness

    Their overdraft fees are absolutely ridiculous. It was so hard to use their app and transfer funds that I accidentally put my checking account in to the negative and would get charged like $50. Not only that but every time I tried to get rid of my account with them, they would pressure me so much to stay with them. It was really uncomfortable!

    Helpful?
  • 8

    November 6th, 2017 American Fork, UT DETAILS

    Value for your money
    Quality of product or service
    Customer Service
    Company trustworthiness

    I wasn't a huge fan of working with the customer service reps in the store, but Wells Fargo banking app is awesome. It makes my banking experience so much better. The app is really well built, and I use it all the time. I do enjoy banking with Wells Fargo.

    Helpful?
  • 6

    November 5th, 2017 Kaysville, UT DETAILS

    Value for your money
    Quality of product or service
    Customer Service
    Company trustworthiness

    Too many bank fees. Great customer service.

    Helpful?
  • 10

    November 5th, 2017 Provo, UT DETAILS

    Value for your money
    Quality of product or service
    Customer Service
    Company trustworthiness

    Good service. Banks are all over the place so it makes it convienent .

    Helpful?
  • 8

    November 4th, 2017 Victor, ID DETAILS

    Value for your money
    Quality of product or service
    Customer Service
    Company trustworthiness

    We have a car loan through Wells Fargo. We have never had a problem with safe and they have all been very knowledgeable and kind!

    Helpful?
  • 6

    November 4th, 2017 Centerville, UT DETAILS

    Value for your money
    Quality of product or service
    Customer Service
    Company trustworthiness

    I've had an account with Wells Fargo for a long time and I've liked their friendly staff and how easy it is to use their services. I feel like their rewards program isn't helping me very much, or at least as much as they claim they will.

    Helpful?
  • 2

    November 3rd, 2017 Sandy, UT

    I haven't had any accounts with Wells Fargo, but have had to deal with them for work. They were always so difficult to work with - from general customer service all the way to their legal team. It took a long time to get anyone on the phone or to respond to emails or court orders. I've been in a couple of branches and the tellers were friendly and that's about it. I find it bizarre that this mentality crosses multiple departments and branches that I've had to deal with - it seems like a company wide theme.

    Helpful?
  • 6

    November 2nd, 2017 Kaysville, UT DETAILS

    Value for your money
    Quality of product or service
    Customer Service
    Company trustworthiness

    Too many fees. Out to take as much of your money as they can.

    Helpful?
  • 10

    October 30th, 2017 American Fork, UT DETAILS

    Value for your money
    Quality of product or service
    Customer Service
    Company trustworthiness

    Always very helpful at the Utah branches I have visited. Good iphone app.

    Helpful?
  • 10

    October 30th, 2017 Reno, NV DETAILS

    Value for your money
    Quality of product or service
    Customer Service
    Company trustworthiness

    I have banked with them since high school. They have been great to me and I have never had any issues. Their mobile app and the deposit feature is a game changer.

    Helpful?
  • 8

    October 30th, 2017 DETAILS

    Value for your money
    Quality of product or service
    Customer Service
    Company trustworthiness

    I have been baking with Wells for 17 years and have all my accounts with them. They have been effective and good for personal as well as business accounts.

    Helpful?
  • 10

    October 29th, 2017 Reno, NV DETAILS

    Value for your money
    Quality of product or service
    Customer Service
    Company trustworthiness

    I love the convenience of Wells Fargo. They have branches everywhere. Also the app is so convenient and easy to use.

    Helpful?
  • 9

    June 13th, 2017 Sandy, UT

    Wells Fargo is very customer oriented. Convenient locations. No excessive fees or hidden charges.

    Helpful?
  • 9

    June 12th, 2017 Salt Lake City, UT

    I have been using Wells Fargo for a long time and I have really enjoyed their customer service at the branch I go to. However, they do have account fees and overdraft fees. But beside the fess I have no other complains about them.

    Helpful?
  • 9

    June 6th, 2017 Herriman, UT

    I have been a customer for 10+ years. I don't have to pay any fees to have a checking and savings account open. I have had to call customer service a couple of times and I actually feel appreciated as a customer. I have had a couple late payment fees waived and that makes a difference to me. Locations are everywhere which is so convenient.

    Helpful?
  • 1

    June 6th, 2017 Salt Lake City, UT

    I was originally with First Security bank and absolutely loved them. I had them for years. But about 20 years ago or so they were purchased by Wells Fargo. I stayed on for awhile, but noticed a huge change in the quality of my service. I ended up closing my account and going with a local bank. I do not like their customer service, and did not like their fees.

    Helpful?
  • 9

    June 2nd, 2017 Salt Lake City, UT

    We have been with Wells Fargo for a couple of years now. We have never had a problem with them. Their customer service is great and people who work at the bank are super nice. The only thing that I do not like about Wells Fargo is the fees they charge for having an account with them.

    Helpful?
  • 5

    June 2nd, 2017 Apex, NC

    Things I like - they keep my money safe. Their website is easy to use and I like the drive-thru. One thing I don't like - you get slammed with an overdraft fee if you run out of funds in your checking, even if you have plenty in your savings (this wasn't an issue at the credit union I was at before). I think they may have waived it when we called, but I can't remember for sure. We've had a few more issues like not coming home with the correct amount from a cashed check (my husband now checked every time), and a friend's check bouncing and we had to pay a fee for it, but I don't need to go more into it all I suppose, and we're still with them for now, but I don't think they're spectacular. I liked the credit union we were at before, but it's only in another state, so Wells Fargo it is.

    Helpful?
  • 2

    June 2nd, 2017

    We opened a business account at Wells Fargo several years ago. We sold a piece of property and they would not let us deposit the check. They said the paperwork we used when we opened the account was no longer valid. They wanted us to open a new type of account. We went to a couple other branches and one of them allowed us to deposit our check. We will be closing the account and taking our business elsewhere.

    Helpful?
  • 9

    May 26th, 2017 Salt Lake City, UT

    All of the Wells Fargo branches I have been to thus far have been a good experience. Employees are polite and friendly and have been very good resources. I would recommend banking with Wells Fargo to anyone

    Helpful?
  • 9

    May 25th, 2017 Salt Lake City, UT

    I really like Wells Fargo. They are very friendly every time I go in and they do their best to help me when I need it. There isn't really any bad accept for banking fees, but there are ways to avoid them which is nice and they have other options for students.

    Helpful?
  • 10

    June 4th, 2016 Provo, UT

    I have been a customer at Wells Fargo for almost 5 years now and have had an incredible experience with them. They have been a great bank to work with and have been extremely helpful with everything I ask for. As a college student they have been helpful with saving me the most money possible and earning the most rewards possible. Every time I have met with a banker they are always very personable and helpful. I would suggest this bank to anyone.

    Helpful?