Chase vs. Wells Fargo: Which Is Best for You?

Wells Fargo and Chase are two of the largest U.S. banks, and they make it convenient to bank in person, with many ATMs and branches. Keep in mind that the interest rates both banks pay are low compared with other banks.

Here’s how they stack up against each other.

Snapshot comparison

Choose Chase if:

• You want a larger ATM network.

• You prefer lower minimums for certificates of deposit.

Choose Wells Fargo if:

• You prefer lower monthly checking fees that are slightly easier to waive.

Or go with an alternative

Unlike these brick-and-mortars, online banks don’t have thousands of branches. But they do have excellent annual percentage yields, or APYs, that make your savings grow faster. And fees tend to be low or nonexistent.

» Want to know more? Check out NerdWallet's best high-yield online savings accounts and top online checking accounts

Chase vs. Wells Fargo: Basic checking accounts

The Chase Total Checking® and Wells Fargo Everyday Checking accounts are comparable, with large ATM networks and many branches. Both banks also offer premium checking accounts that earn interest — but not much.

» See more options on our list of best checking accounts or check out Chase checking account bonuses

Chase vs. Wells Fargo: Basic savings accounts

Both accounts have monthly fees, but they are easy to avoid. However, Wells Fargo’s account has a more generous age limit for waiving the fee. Wells Fargo requires $25 to open an account, but Chase’s $0 opening deposit requirement is helpful if you’re starting out with just a few dollars.

Neither account pays much interest. For savings options with higher yields, read NerdWallet’s list of best savings rates.

» Looking for higher rates? Explore NerdWallet's list of top online savings accounts

Chase vs. Wells Fargo: Certificates of deposit

Chase requires less than half the amount Wells Fargo does to open a standard CD, but neither bank offers high APYs. You can find one-year rates at online banks higher than 5% APY.

» Learn more about the latest top CD rates

Big banks, small rates

If you’re seeking the broad reach and expansive product selection of a national bank, you’ll find those at Wells Fargo or Chase. For similar banks, see our roundup of best national banks. If the low interest rates or hefty fees at these institutions don’t work for you, however, check out other top bank options such as credit unions or online banks.