Wells Fargo

• Variety of Banking Services
• Easily Avoid Checking Account Fees
• Free Money Transfers
• Large ATM Network
• Online Banking and Mobile App
• Customer Reviews

Variety of Banking Services

Wells Fargo offers a wide variety of personal banking products and other services:

• Checking account
• Savings account
• Certificate of deposit (CD)
• Loan products (personal loan, mortgage, auto loan, student loan)
• Credit card options

In addition, Wells Fargo provides small business products including checking and savings accounts, lines of credit, business loans, and credit cards.

Easily Avoid Checking Account Fees

Wells Fargo's Everyday Checking account is a popular choice for personal banking in the industry, and can be opened with a $25 deposit.
The account does include a $10 monthly service fee, but Wells Fargo provides customers with multiple options for avoiding the fee:

• Maintain a $500 minimum daily balance
• $500 or more in direct deposits
• A linked Wells Fargo campus ATM or Campus Debit Card
• Primary account owner is 17–24 years old

Free Money Transfers

You can easily transfer money between your Wells Fargo accounts with no charge. You can even transfer money to accounts at other financial institutions for free.

Large ATM Network

Wells Fargo has upwards of 13,000 ATMs nationwide, making it much easier to withdraw or deposit cash from your accounts.

The bank also has more than 7,200 branch locations nationwide, allowing you to speak with a banker and manage your accounts as needed.

It is important to note that Wells Fargo does charge an out-of-network ATM fee of $2.50.

Online Banking and Mobile App

Wells Fargo offers convenient online banking mobile banking services. 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

You can also transfer money between accounts online and in the mobile app.

Customer Reviews

Wells Fargo reviews are mixed. The majority of customers award the bank 4 or 5 stars, but approximately 35 percent of reviews are 3 star or below.

Positive reviews most often outline great customer service and convenient banking with the Wells Fargo mobile app. In addition, many customers mention that they have banked with the financial institution for years and have multiple accounts which they are happy with.

Negative reviews most frequently comment on frustration with high fees on simple banking services.

• Low Savings Account APYs
• High Minimum CD
• Banking Fees

Low Savings Account APYs

The Wells Fargo Way2Savings Account offers a 0.01 percent APY, which is much lower than APYs offered by many other 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

Wells Fargo has many banking fees for checking accounts which include:

• Opening account fee — $50 if you open on site. Over the phone or online it would be a $25 opening fee.
• Maintenance fee — $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.

A high number of fees is a common customer complaint in reviews.