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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


Wells Fargo Bank has more than 8,700 locations, more than 12,500 ATMs, online (, 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.

Time in Business

Wells Fargo has been in business since 1852. Assisting customers for 150 + years with monetary transactions.

Mobile Friendly

Yes. We have found Wells Fargo on Facebook, Instagram, and Twitter where they respond to customers concerns and give updated information about the company. They also have an online banking app for mobile devices and keep their website up to date. If you are big on blogging, Wells Fargo also has a blog where they give helpful financial advice for planning the future, mortgages, and even vacations.


Through their annual financial report which can be found online that their return of assets (ROA) is 1.51% and return of equity (ROE) is 13.87%.

View Wells Fargo Annual Report 


We found that a customer needs to have at least a year history to have the same day withdrawal of more than 5,000. Maximum withdrawal out of an ATM is $200/day. However, depending on the history of account, if there are consistent transactions of 2,000 withdrawal and deposit the company will adapt to customer needs as long as consumer is consistent.


Yes. There are different fees for 3 different checking accounts. Those fee’s are listed in the bad. There are also deposit fee’s for saving accounts as well as a maintenance fee unless there is a minimum deposit in account.

View Checking Account Fees and Saving/CD Fees


Wells Fargo Bank has more than 8,700 locations, more than 12,500 ATMs, online (, 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.

Services Available

Wells Fargo Bank provide services for checking, savings, CD and Credit card accounts. They also give out loans for mortgages, automobiles, education, credit cards, home equity. Provide insurance for health, automobile, home, life, and renters. Have multiple ways to invest as well.

Contact Information:


420 Montgomery Street

San Francisco, CA 94104-1207


(800) 869-3557


24 hours a day, 7 days a week


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    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.

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