U.S. Bank vs. Wells Fargo: Which Is Best for You?
If bigger is better when it comes to banking, you’ll like what U.S. Bank and Wells Fargo have to offer. Both megabanks have thousands of branches and ATMs across the country. We compared them to help you find which one might suit you best.
Snapshot comparison
U.S. Bank | Wells Fargo | |
Checking accounts | U.S. Bank Easy Checking
| Wells Fargo Everyday Checking
|
Savings accounts | U.S. Bank Standard Savings
| Wells Fargo Way2Save
|
Certificates of deposit | U.S. Bank interest rates on CDs
| Wells Fargo interest rates on CDs
|
Overdrafts, ATMs, customer service | ||
Choose Wells Fargo if:
You want ways to waive your monthly checking account fee without minimum deposits or balances.
You prefer more access to branches and ATMs, and are closer to Wells Fargo locations.
Choose U.S. Bank if:
You want to open a CD for less than $2,500 (but can deposit at least $1,000 to earn promotional rates).
Or go with an alternative
Unlike these brick-and-mortars, online banks don't hae 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
U.S. Bank vs. Wells Fargo: Basic checking accounts
U.S. Bank Easy Checking | Wells Fargo Everyday Checking | |
---|---|---|
Monthly fee | $6.95 ($8.95 if you opt for paper statements). | $10. |
Minimum deposit to open | $25. | $25. |
APY | None. | None. |
ATM fees and network |
|
|
Sign-up bonus | N/A | N/A |
U.S. Bank vs. Wells Fargo: Basic savings accounts
U.S. Bank Standard Savings Account | Wells Fargo Ways2Save | |
---|---|---|
APY | 0.01% APY on all balances. | 0.01% APY on all balances. |
Monthly fee | $4. | $5. |
Minimum deposit to open | $25. | $25. |
Sign-up bonus | N/A | N/A |
U.S. Bank vs. Wells Fargo: Certificates of deposit
U.S. Bank | Wells Fargo | |
---|---|---|
Minimum opening deposit | $500. | $2,500 or $5,000, depending on the type of CD. |
APY on 1-year CD | 0.05% APY. | 0.01% APY for standard CDs. |
APY on 3-year CD | 0.10% APY. | Not available online. Call or visit a branch for rates. |
APY on five-year term | 0.25% APY. | Not available online. Call or visit a branch for rates. |
Rates may vary by location. |
U.S. Bank vs. Wells Fargo: Banking experience
U.S. Bank | Wells Fargo | |
---|---|---|
Branches | About 3,000. | About 5,500. |
Banking apps (current ratings from app store users) |
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|
Customer service |
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U.S. Bank vs. Wells Fargo: Overdraft fees
U.S. Bank | Wells Fargo | |
---|---|---|
Overdraft fee | $36, maximum of four per day. | $35, maximum of three per day. |
Overdraft protection fee | $12.50 per day. | $12.50 per transfer. |
Extended overdraft fee | $36, beginning on the 8th calendar day that your account stays overdrawn. | None. |
Big banks with a broad range
U.S. Bank and Wells Fargo both have a range of products for customers, but they also tend to have high fees. If you prefer large banks with thousands of ATMs and branches, the best option likely depends on where you live. If you are closer to Wells Fargo locations, that bank may be the better choice. But if U.S. Bank branches and ATMs are more convenient, it may be the one to consider.
For a closer look at comparable financial institutions, check out our roundup of the best national banks.