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
0.80%
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

1.95%

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

1.90%

Monthly Fees

$0

Bonus features

No Monthly Fee

Competitive APY

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
Nope.
My household has three checking accounts with Wells Fargo-- one in my name, one in my husbands, and one jointly. My personal one happened to be opened up at a branch that is about to be sold off to some smaller bank and I got an impersonal letter in the mail telling me so, with no options for me to keep that account with Wells if I want. I called them up and said I a) have no interest in having an account with this smaller bank which will presumably have poorer digital services such as app quality and ability to link up with Mint or Personal Capital etc and b) have no interest in having my accounts split up, some at Wells Fargo and some at the smaller bank because the whole point was to be able to easily move funds between accounts. I told them they can either work it so my account can stay with the others at WF or they will lose all three of our accounts. You'd think that would be enough motivation to help me out. Nope. They said they couldn't do anything about it. Of course I could close the affected account and open a new one from a branch that is not being sold but I'd have to buy another box of checks and change all my direct deposit and autopay stuff and really I don't appreciate being jerked around like this. For all I know next year that other branch will be sold off too and I'll be right back in this same position. Customer service sucks and their fees are kind of awful too. I'll be moving elsewhere, probably to Schwab.
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
Won't use again
If you go to a branch, they are polite and helpful but the company is riddled with outdated and poor policies. For example if you can't remember your verbal pin, you can only go to a branch for assistance. There is now other authentication process or pin recovery. When questioned, they stated this has been their process for 14 years. Times have changes in 14 years. All i needed was a new card. When i went to close all of my accounts, not one person tries to figure out what caused this or keep my business. With all of their recent pr problems, you think they would be more customer focused.
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