Wells Fargo

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8.0

Overall Score

Wells Fargo

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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.

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User Reviews

3.7

170 Reviews

Your trust is our top priority, so we check all reviews for accuracy and relevance. Additionally, we do not allow companies to alter or remove reviews. Learn more

Sort by:
Clancy Jayne
June 13th, 2018 DETAILS
Value for your money
Quality of product or service
Customer service
Company trustworthiness

great service always respond When a issue has come up they always correct or service ASAP fast and with NO ISSUES.

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John Kenny
June 13th, 2018 DETAILS
Value for your money
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Company trustworthiness

Account fees. Customer service. Phone support. Trustworthiness.

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LindaWicks
June 13th, 2018 DETAILS
Value for your money
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Company trustworthiness

timely with general banking needs, Have not used for other purposes. When used for needs, I would say, they do ok, their personal customer service, could use improvement. .

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North San Jose
June 13th, 2018 DETAILS
Value for your money
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They respond to my any question or concern withing 1~2 days world wide. They also changed many program after I suggested. They really listen to the customers.

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Teresita Obermann
June 13th, 2018 DETAILS
Value for your money
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Company trustworthiness

Consistently handle my financial needs in a smooth and professional manner.

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Sandra
June 13th, 2018 DETAILS
Value for your money
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Never a problem, always helpful, friendly, professional

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Michael Miller
June 13th, 2018 DETAILS
Value for your money
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Company trustworthiness

Although they were involved in a high level of fraudulent activity, I myself have been with this bank for 6 years without incident. I've received superb customer services, better than at any other bank I've been with. I would give them 5 stars if it were not for the scandal.

Helpful?
Linda
June 13th, 2018 DETAILS
Value for your money
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I have used Wells Fargo since my local bank changed to Wells Fargo. The bank is located in my neighborhood and is staffed with friendly people who make me feel like they are indeed happy to see me when I come into the bank.

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Emily
June 13th, 2018 DETAILS
Value for your money
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I love how advanced their technology is and how they've own their past mistakes.

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Shirley
June 13th, 2018 DETAILS
Value for your money
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Company trustworthiness

Charges are hidden on the daily activity statements.

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James Crawley
June 12th, 2018 New York, NY

I used to have Wells Fargo but closed my accounts because I felt like I was getting nickel and dimmed. I would get random fees all the time and eventually just lost it. That was before the news hit that employees at Wells Fargo have behaved really unethically...it all makes sense now

Helpful?
Tom
June 11th, 2018 Pleasant Grove, UT DETAILS
Value for your money
Quality of product or service
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Company trustworthiness

I bank at Wells Fargo. They are very dependable, have easy access to many branches, but also have a nice online presence.

Helpful?
CAROLE SCOVILLE
June 11th, 2018 Pleasant Grove, UT

Great customer service at Wells Fargo – but I ended up moving to a credit union because They gave better interest

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Sadie Scoville
June 11th, 2018 Pleasant Grove, UT

This is the first bank I ever used where I had my very first debit card. Great customer service and absolutely no problems

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Jordan Keck
June 6th, 2018 Iona, ID

I have been banking with Wells Fargo for the past 5 years. They have been nothing but a pleasure to work with! Always kind and willing to help with my banking needs.

Helpful?
Nana Asiata
June 6th, 2018 Herriman, UT DETAILS
Value for your money
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Company trustworthiness

Great environment any time I go in to deposit money. Very helpful and always going above and beyond.

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Dean Young
June 4th, 2018 DETAILS
Value for your money
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Company trustworthiness

Good but not bad. Not excellent but not bad. Just good.

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Avery Fowler
May 31st, 2018 Pleasant Grove, UT DETAILS
Value for your money
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Company trustworthiness

I used this bank when I was first starting out as a teen. They were a good bank to use but I have since change to a credit union.

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Anonymous
May 29th, 2018 Pleasant Grove, UT DETAILS
Value for your money
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Company trustworthiness

Wells Fargo Has been my bank for the last 15 years, they are very trustworthy and dependable!

Helpful?
Joanna Hester
May 29th, 2018 Gilbert, AZ DETAILS
Value for your money
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Company trustworthiness

I do my business banking with Wells Fargo and have to come into the bank to make deposits on a regular basis. The customer service staff is always helpful and fast with my deposits.

Helpful?
H Moore
May 29th, 2018 Lehi, UT DETAILS
Value for your money
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Company trustworthiness

I've been a customer of Wells Fargo for over twenty years, and I've always appreciated working with them.

Helpful?
Ashley
May 25th, 2018 Pleasant Grove, UT DETAILS
Value for your money
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Company trustworthiness

Have banked here for a long time! Very happy.

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Gertrude Murphy
May 21st, 2018 DETAILS
Value for your money
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Company trustworthiness

They are are horrible l have had several problems with this bank . And when I closed my account l still had issues with them.

Helpful?
K.L.
May 17th, 2018 Irvine, CA DETAILS
Value for your money
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Customer service
Company trustworthiness

Wells Fargo has bad service. It also has bad, negative interest rates and their debit card is useless

Helpful?
Brandon
May 17th, 2018 Santa Paula, CA DETAILS
Value for your money
Quality of product or service
Customer service
Company trustworthiness

They are crooked to the core! I had them make themselves my beneficiary on my 401K when I was transferring it. Without my knowledge!!

Helpful?
Dominic Richard Glass
May 17th, 2018 Rancho Cucamonga, CA DETAILS
Value for your money
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Company trustworthiness

very responsive to my requests and needs

Helpful?
Carolyn Redfearn
May 17th, 2018 Chatsworth, CA DETAILS
Value for your money
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Customer service
Company trustworthiness

Always helpful., Very friendly, professional

Helpful?
Deborah Friedt
May 17th, 2018 Las Cruces, NM DETAILS
Value for your money
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Company trustworthiness

Services provided have been satisfactory for me.

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Antoinette Garcia
May 17th, 2018 Bernalillo, NM DETAILS
Value for your money
Quality of product or service
Customer service
Company trustworthiness

Good service local bank always knows my name

Helpful?
Kenneth Garwood
May 17th, 2018 Phoenix, AZ DETAILS
Value for your money
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Company trustworthiness

They have always been responsive to my requests and did a good job on remortgage of my home.

Helpful?
Paul Walder
May 17th, 2018 Arvada, CO DETAILS
Value for your money
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I m treated well and there service is first rate along with the free coffee

Helpful?
pao
May 17th, 2018 Austin, TX DETAILS
Value for your money
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Company trustworthiness

No issues . The bank is up to date with most bank trends

Helpful?
Tamara
May 17th, 2018 DETAILS
Value for your money
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I don't trust them and don't I don't trust my money is safe. I don't think we should do banking this way anymore. Bitcoin will reign.

Helpful?
Excell Holman
May 17th, 2018 Augusta, GA DETAILS
Value for your money
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Company trustworthiness

Because I have been with this bank for 40 years and nave never had a serious problem0

Helpful?
Georges Y. Kabore
May 17th, 2018 Hightstown, NJ DETAILS
Value for your money
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Company trustworthiness

The staff are dedicated and the services provided of the hightest standards.

Helpful?
Edward Riggin
May 17th, 2018 DETAILS
Value for your money
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Company trustworthiness

I rate the customer service and help a 5 due to their hearing me out. Sometimes one might get confused with all the information flow.

Helpful?
michael
May 17th, 2018 Hasbrouck Heights, NJ DETAILS
Value for your money
Quality of product or service
Customer service
Company trustworthiness

courtesy, competence and caring. their tellers are always friendly and seem to remember everybody's name, and their officers are knowledgeable and not afraid to roll up their sleeves.

Helpful?
SAMMIE VERMILLION
May 17th, 2018 Cumming, GA DETAILS
Value for your money
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Company trustworthiness

hate the bill pay they keep changing it. If I want to use the ATM after the Bank is closed about 1 in 4 times it does not work.

Helpful?
Bill Hawkins
May 17th, 2018 Desert Hot Springs, CA DETAILS
Value for your money
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Company trustworthiness

Friendly service, always ready to help with any issues that arise.

Helpful?
Jeanie Wilkinson
May 17th, 2018 Mesquite, TX DETAILS
Value for your money
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Company trustworthiness

No problems,friendly people, quick to solve problems. Great hours!

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