U.S. Bank vs. Wells Fargo: Which Is Best for You?
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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 Smartly 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 | |
U.S. Bank details | Wells Fargo details |
Choose Wells Fargo if:
You want to have your monthly checking account fee waived with lower minimum deposits or balances.
You are closer to Wells Fargo locations.
Choose U.S. Bank if:
You live in a state where the accounts are available (Arizona, Arkansas, California, Colorado, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Minnesota, Missouri, Montana, Nebraska, Nevada, New Mexico, North Carolina, North Dakota, Ohio, Oregon, South Dakota, Tennessee, Utah, Washington, Wisconsin or Wyoming).
You have an eligible U.S. Bank credit card, which waives your checking account monthly fee.
You want access to more ATMs.
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
U.S. Bank vs. Wells Fargo: Basic checking accounts
U.S. Bank Smartly Checking | Wells Fargo Everyday Checking |
---|---|
Monthly fee | |
$6.95. 5 ways to waive it | $10. 4 ways to avoid it |
Minimum deposit to open | |
$25. | $25. |
APY | |
None. | None. |
ATM fees and network | |
|
|
Sign-up bonus | |
Up to $450 (expires 12/30/2024); our bank bonuses roundup explains how to qualify. | $300 (expires 01/08/2025); our bank bonuses roundup explains how to qualify. |
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. 3 ways to waive it | $5. 5 ways to waive it |
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 Standard | Wells Fargo Standard Fixed Rate |
---|---|
Minimum opening deposit | |
$500. | $2,500. |
APY on 1-year CD | |
0.05%. | 2.75%. |
APY on 3-year CD | |
0.10%. | Not available online. |
APY on five-year term | |
0.25%. | Not available online. |
Rates may vary by location. |
U.S. Bank vs. Wells Fargo: Banking experience
U.S. Bank | Wells Fargo |
---|---|
Branches | |
More than 2,000. | About 4,700. |
Banking apps (current ratings from app store users) | |
|
|
Customer service | |
|
|
U.S. Bank vs. Wells Fargo: Overdraft fees
U.S. Bank | Wells Fargo |
---|---|
Overdraft fee | |
$36, maximum of four per day. No charge if account is overdrawn by $50 or less at end of day. Customers can also have an overdraft fee waived if a deposit is made to cover the overdrawn amount by 11 p.m. E.T. on the day the overdraft fee was charged. | $35, maximum of three per day. |
Overdraft protection fee | |
$0. | $0. |
Extended overdraft fee | |
None. | 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.