at Wells Fargo,

Member, FDIC

Pros

13,000 free ATMs and about 5,800 branches in 39 states

Cons

0.01% APY on standard savings account; better rates available elsewhere
$35 overdraft fee can be charged three times daily

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Overall

3.5

Megabank and mortgage giant Wells Fargo offers a huge variety of financial products under one brand — checking and savings accounts, investments, credit cards, auto loans and more. If you have a Wells Fargo mortgage or investment account — or a high enough bank balance — you could receive certain upgrades on interest rates and fees for checking and savings accounts.

 

Ratings methodology | Updated June 20, 2018.

Checking

4.0

Wells Fargo’s Everyday Checking has a $10 monthly fee. You can avoid the fee by making 10 debit payments or $500 in direct deposits or by keeping a minimum daily balance of $1,500 each month. There’s no interest rate, so you won’t see your money grow.

 

With 13,000 ATMs, Wells Fargo’s network is fairly large; it only slightly trails Chase’s and Bank of America’s 16,000-ATM networks.

Way2Save Savings
APY
0.01%
Min. balance for APY
$1

at Wells Fargo,

Member, FDIC

Certificate of Deposit
APY
1.87%
Min. balance for APY
$10,000
Length of term
5 years

at Wells Fargo,

Member, FDIC

Everyday Checking
APY
Monthly fee
$10
Balance to waive monthly fee
$1,500

at Wells Fargo,

Member, FDIC

How does Wells Fargo compare?

Wells Fargo

Way2Save Savings

NerdWallet Rating

APY

0.01%

Monthly Fees

$5

Bonus features

2,000+ branches

Live help 24/7

Goldman Sachs Bank USA

Online Savings

NerdWallet Rating

at Goldman Sachs Bank USA,

Member, FDIC

APY

2.05%

Monthly Fees

$0

Bonus features

No Monthly Fee

Competitive APY

American Express National Bank

High Yield Savings Account

NerdWallet Rating

at American Express National Bank,

Member, FDIC

APY

2.00%

Monthly Fees

$0

Bonus features

Competitive APY

Live help 24/7

No Monthly Fee

Not for you? Read more bank reviews
NerdWallet reviews are the result of independent research by our editorial team while accountholder reviews are contributions from independent users not affiliated with NerdWallet. Banks, issuers and credit card companies are not responsible for any content posted on the NerdWallet site, nor do they endorse or guarantee any posted comments or reviews.
Overall
Customer service
Poor
Website / app
Fair
Rates
Poor
Fees
High
Never never again
I went in with the intention of opening a new investment account at a dollar amount just short of seven figures. I already had $124,000 in their place. After talking to them and realizing the law means nothing to them I took out the $124,000 and went elsewhere. Never again!
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
Student Account Scam
Wells Fargo is the worst bank I have ever had the displeasure of dealing with. I first opened an account in undergrad because my university had a partnership, this meant that as a student we had to have a Wells Fargo account in order to have a student account with the university. Since I have graduated from undergrad and begun graduate school there has been hundreds of dollars in "hidden fees". When I confronted them about the charges they would tell me "that shouldn't have happened but I do not have the authority to reverse these charges, and if you want to cancel this account you must pay us first then wait while we verify your payment." In the meantime they would then add on more charges, keeping me in a endless loop of debt. I had also moved to a area where there was no chains so I couldn't even go to talk to a person, pay their ridiculous fees in cash, and cancel my account. DO NOT DO BUSINESS WITH WELLS FARGO. Their student accounts are a trap, they will take the little money you have as a student. I am absolutely disgusted with them and their scam.
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