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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

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187 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

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Kim
December 6th, 2018 Tempe, AZ DETAILS
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I have been a member with Wells Fargo since 2008. I have not had any issues at all but worry when I hear of all the negative things going on. Thus far, the branches that I walk into are always ready to assist and very helpful. Anytime I have had to call customer service, there has been no issues. Overall satisfied, just a little leery of my protection as a customer.

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Randal hyde
November 6th, 2018 Springfield, MO DETAILS
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It's easy to find Wells Fargo banks across the world. They provide a variety of services that are easy to utilize and the customer support staff is great. I think that their interest rates aren't very competitive.

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Sepi
September 18th, 2018 Salt Lake City, UT

The customer service is good and it always helping us to get easy access to the best quality goods and they always friendly and wanted to help out if i need questions !!!

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POLYANA LAVAKI
September 14th, 2018 Salt Lake City, UT

I had Wells Fargo a while back. I dont know if they are still doing it now but I left them for Chase because they were charging me a lot of fees for using the account, swiping my card etc etc. I wasnt happy with them at all.

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Leslie
September 11th, 2018 West Jordan, UT

I used to bank with Wells Fargo but found that their rates for loans were always higher than everybody else’s. I switched and am so glad I did!

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Thomas Hullinger
August 28th, 2018 Pleasant Grove, UT DETAILS
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Wells Fargo is the best bank in all the land. They have everything I need in a bank and treat me right. Their loans have good interest rates. They have good customer service and treat me like a friend. They have convenient locations and I like their online abilities and easy processes with everything.

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Lo Tuifua
August 20th, 2018 Sacramento, CA

What happened to these guys? Used to be one of the best. I am a customer and have been for years but the trust factor is in the gutter.

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jordan cummins
August 2nd, 2018 Gilbert, AZ

Haven't had too many problems besides some annoying fees. They seem to be trying to change their image ever since the issues they've been having.

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Hannah Cummins
August 2nd, 2018 Gilbert, AZ

Wells Fargo is my go to bank because I know I will always find one wherever I go but I dislike their hidden fees and I trust them less based on the lack of security​ the last few years. I think they are making strides to repair their brand though.

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Jenny whipple
July 31st, 2018 Mesa, AZ

Easy to use mobile and online services. Friendly and helpful employees in the bank and on the phone. They caught fraudulent activity recently and corrected it quickly without a hassle.

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Marilyn Greer
July 24th, 2018 Saint George, UT

I have had a few loans with this bank and all has gone well.

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Anne Kimball
July 23rd, 2018 Salt Lake City, UT DETAILS
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I know Wells Fargo has been in the middle of a scandal, but honestly they have always treated me so well. They always give my daughter suckers and for Christmas they gave her a cute little black horse with a Wells Fargo cape on it. Their banking services have always been easy. Mobile check deposits was life changing. Wiring money has always been easy, especially transferring to another Wells Fargo customer. I just have never had a complaint about their services.

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Anna Hu
July 23rd, 2018 Provo, UT

Been banking with Wells Fargo for almost 10 years now, and have had nothing but positive experiences. Love that I can do almost banking function from my phone, including depositing checks, transferring money, paying off bills, and more. Every time I have been into a physical location, I have been met with much professionalism. They have been so easy and helpful as I have added credit cards with them, and opened up new accounts.

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Sara Jane
July 17th, 2018 Crestwood, KY DETAILS
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Great home loan institution. Easy online payment.

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Rob Whipple
July 16th, 2018 Mesa, AZ

Generally good to work with. Customer support is always helpful. I don't like the recent changes to the website, particularly to the online bill pay site. But overall, have been good to me for years.

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Boston Whipple
July 16th, 2018 Provo, UT

The Wells Fargo online banking has gone down on several occasions and I have been forced to use the mobile app. Other than that, my experience with Wells Fargo has been really good. They have been very helpful when I have called them to cancel debit cards and request new ones and their service has been professional and helpful when I have gone into the bank for other account services.

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Karen Nelson
July 16th, 2018 Alpine, UT

Wells Fargo was super great to us. I also really like the name, it feels cozy. They are super accessible and very friendly. Would recommend to anyone.

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Clancy Jayne
June 13th, 2018 DETAILS
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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
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Account fees. Customer service. Phone support. Trustworthiness.

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LindaWicks
June 13th, 2018 DETAILS
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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
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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
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Consistently handle my financial needs in a smooth and professional manner.

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Sandra
June 13th, 2018 DETAILS
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Never a problem, always helpful, friendly, professional

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Michael Miller
June 13th, 2018 DETAILS
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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.

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Linda
June 13th, 2018 DETAILS
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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
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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
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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

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Tom
June 11th, 2018 Pleasant Grove, UT DETAILS
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I bank at Wells Fargo. They are very dependable, have easy access to many branches, but also have a nice online presence.

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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.

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Nana Asiata
June 6th, 2018 Herriman, UT DETAILS
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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
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Good but not bad. Not excellent but not bad. Just good.

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Avery Fowler
May 31st, 2018 Pleasant Grove, UT DETAILS
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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
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Wells Fargo Has been my bank for the last 15 years, they are very trustworthy and dependable!

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Joanna Hester
May 29th, 2018 Gilbert, AZ DETAILS
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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.

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H Moore
May 29th, 2018 Lehi, UT DETAILS
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I've been a customer of Wells Fargo for over twenty years, and I've always appreciated working with them.

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Ashley
May 25th, 2018 Pleasant Grove, UT DETAILS
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Have banked here for a long time! Very happy.

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Gertrude Murphy
May 21st, 2018 DETAILS
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They are are horrible l have had several problems with this bank . And when I closed my account l still had issues with them.

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