Wells Fargo Bank

Overview / Commentary

www.wellsfargo.com

800-869-3557

420 Montgomery Street
San Francisco, CA 94104

Wells Fargo Bank is a publicly traded bank that operates as a subsidiary of Wells Fargo & Company, one of the largest financial holding companies in the world. The bank is one of the largest in the United States as measured by assets as well as deposits. With tens of millions of customers, thousands of retail branches and tens of thousands of ATMs, the bank’s presence is recognized in every state. It offers personal, small business, and commercial banking products and services, in addition to wealth management and investing advising.

On its personal banking side, Wells Fargo offers checking, savings, Money Market, Certificate of Deposit (CD) and IRA accounts, in addition to mortgage and consumer loans. One of its most popular checking account options comes with a debit card, as well as a monthly service fee unless minimum balance requirements are met. The bank pushes its student checking account in a combo package with its savings account to encourage saving, and Wells Fargo partners with colleges to provide students the ability to use its debit card for both on and off campus transactions. Savings account options come with minimal interest rates on basic savings, retirement savings, and even retirement savings accounts. Money Market accounts offered by the bank have a minimum daily balance requirement and come with very low interest rates. CDs are available in term lengths ranging from 3 to 58 months and a step up CD provides a way to increase the rate on a 24-month CD every 6 months for the life of the product.

A private bank is also available to provide customers wealth planning and trust solutions that are tailored to specific investor needs and goals. On its small business side, Wells Fargo offers loans and credit, business insurance, and merchant services like payment processing and tax help.

Wells Fargo Bank online banking is a secure banking platform on which customers can open and manage their accounts. The web-based system provides the ability to complete tasks like Bill Pay, money transfers, online brokerage, account activity viewing, direct deposit, and check image viewing. A mobile website (wf.com) provides an optimized Internet solution for customers to access their accounts from a web browser on any capable device. Mobile banking apps are also available and provide a more sophisticated way to bank on the run from various smartphone and tablet devices.

Wells Fargo Bank was originally established as the Crocker-Citizens National Bank in 1870, before transitioning to its current name in 1986. Since that time, the bank has rapidly acquired many financial institutions and divisions to become one of the largest companies in the world. Wells Fargo corporate headquarters are located in San Francisco, California, while Wells Fargo Bank is headquartered in Sioux Falls, South Dakota. The bank operates through thousands of branches located through the United States.

2.60% 11-Mo CD & 2.10% Savings Acct Regional Promotions - 2/21/2019

Wells Fargo is currently offering a 2.60% APY, 11-month CD which requires a minimum deposit of $25,000 (new money).They are also offering a 2.10% APY, Platinum Savings Account which also requires a minimum deposit of $25,000 (new money) and the requirement to maintain a minimum daily account balance of $25,000 to receive the 2.10% savings account rate. These two offers expire 3/22/2019 and are available in: CT, DC, DE, FL, GA, MD, NJ, NY, SC & VA. Obviously these rates are not as high as some offered by the leading online banks, but at least they are a step in the right direction.

Platinum Savings/Fixed Cds. Not Bad For A B&M National Bank - 10/21/2018

Wells Fargo enters the rate race (sorta). In todays Sun Sentinel, Wells Fargo is now offering their Platinum Savings account, minimum new money deposit of $25,000, with a minimum average balance of $25,000 at 1.70% apy guaranteed for 12 months in CT, NY and FL Also a fixed rate of 2.30% apy for an 11 month CD with a minimum deposit of $25000 of new money. Available in FL, NY, WA and CT

Wells Fargo 2-Yr. Brokered CD: 3.00% - 10/11/2018

new issue maturing Oct. 26, 2020, available at Vanguard

View all posts from:

2019
2018
2017
Earlier

2/21 - 2.60% 11-Mo CD & 2.10% Savings Acct Regional Promotions

10/21 - Platinum Savings/Fixed Cds. Not Bad For A B&M National Bank
10/11 - Wells Fargo 2-Yr. Brokered CD: 3.00%
4/26 - 2.75% 2 Year CD
2/12 - 2- And 3-Year Brokered Cds

5/19 - $150 Wells Fargo Checking Bonus - Select Cities
5/10 - Wells Fargo Long Term 3.00% Callable Step-Up CD Via TD Ameritrade
3/8 - Wells Fargo Offers Easy $250 Checking Bonus

Reviews (323)

Excellent Bank

Posted by: jeanette479 | Jun 13, 2019

I have been with wells fargo since 2008 and have never really had anuy issues any time i have any issues they are quick to help me out too

Comment

Great account with great sign up bonus

Posted by: travisharmon | May 2, 2018

I signed up for a Wells Fargo online checking account around fifth teen months ago and I have loved this account. First off they gave me a two hundred and fifty dollar sign up bonus. There is no fees if you meet easy monthly minimums. Overall this account fits my needs plus there are plenty of atms that a free to get money at. I would highly recommend this bank to anyone.

Comment

Wells Fargo

Posted by: conservative | Sep 3, 2019

This is the first review I have ever posted but my most recent experience with this financial institution was horrible. I have maintained both my personal and business checking accounts at Wells Fargo for more than 15 years. They even granted me an unsecured business line of credit even though I never asked for it.
I recently asked for a $225K secured line of credit and offered to put up a$600K property owned free and clear as collateral. My FICO score is above 800 and I have substantial liquid assets. I provided electronic copies of some tax returns, a financial statement, a rent roll, etc. they rejected everything because they were not signed. I told them I was not looking for an approval, just an indication it was something they could consider subject to a full application and complete underwriting.
Their response they could not do anything until I submit a completed application and all supporting documentation.
How they can call themselves a lending institution is beyond me. Since I was not advised as to the product they would offer or the associated interest rate and fees, I did not give them a score for these categories.

Comment

WELLS FARGO VS CHASE BANK

Posted by: brettalynn | Jan 22, 2019

Wells Fargo is a great bank !! If I overdraft and have a direct deposit coming the next day from my check they NEVER charge me an overdraft fee and if they do they reverse it automatically and send me an email. I also bank with Chase Bank and there is no Chase Bank in MN so if I overdraft for $3.00 they will still charge me for $35.00. They will only credit you once per year (as a customer courtesy !!). In the interim, if you overdraft with Chase Bank they will keep charging you -- their customer service is terrible !!!! Wells Fargo is the best bank around !!!!

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Health

Data as of Q2 2019

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #	3511
Year Established	1870
Employees	234820
Primary Regulator	OCC

Profit Margin
Return on Assets - YTD	1.42%
Return on Equity - YTD	14.31%
Annual Interest Income	$31.06B

Assets and Liabilities
Assets	Q2 2019vs Q2 2018	$1,699.8B$1,675.2B
Loans	Q2 2019vs Q2 2018	$919.9B$922.4B
Deposits	Q2 2019vs Q2 2018	$1,346.2B$1,322.3B
Equity Capital	Q2 2019vs Q2 2018	$168.8B$164.1B
Loan Loss Allowance	Q2 2019vs Q2 2018	$9.42B$9.86B
Unbacked Noncurrent Loans	Q2 2019vs Q2 2018	$6.40B$7.76B
Real Estate Owned	Q2 2019vs Q2 2018	$372.0MM$502.0MM

Rates

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Savings
Money Market
Checking
CD
IRA

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Always verify rates and promotions with the bank or credit union. We are not Wells Fargo Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

† The rates for some products vary by region. In these cases we have listed the rates for the region closest to the bank's headquarters.

Wells Fargo Bank Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.95%^*^†	$25k^*	-	Platinum Savings - Special Interest Rate Bonus
OTHER TIERS: 0.10% → Up to $25k
0.95%^*^†	$25k^*	-	Business Platinum Savings - Special Interest Rate (New Money)
OTHER TIERS: 0.10% → Up to $25k
0.90%^*^†	$25k^*	-	Platinum Savings - Special Interest Rate
OTHER TIERS: 0.05% → Up to $25k
0.10%^†	-	-	Business Platinum Savings - Standard Interest Rate
0.10%^†	-	-	Platinum Savings - Standard Interest Rate Bonus
0.05%^*^†	$100k^*	-	Wells Fargo Retirement High Yield Savings
OTHER TIERS: 0.03% → Up to $100k
0.05%^†	-	-	Platinum Savings - Standard Interest Rate
0.03%^†	-	-	Wells Fargo Retirement Way2Save Savings
0.01%^†	-	-	Wells Fargo Way2Save Savings

Wells Fargo Bank Money Market Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.03%^†	-	-	Business Market Rate Savings

Wells Fargo Bank Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.05%^*^†	$5k^*	-	Portfolio by Wells Fargo
OTHER TIERS: 0.01% → Up to $5k
0.01%^†	$500	-	Wells Fargo Preferred Checking

Wells Fargo Bank CD Rates

APY	MIN	MAX	ACCOUNT NAME
1.65%^†	$5k	-	9 Month CD Special - Bonus
1.60%^†	$5k	-	Business 9 Month CD Special
1.60%^†	$5k	-	9 Month CD Special
1.30%^†	$2.5k	-	24 Month Step Rate CD - Bonus
1.25%^†	$2.5k	-	24 Month Step Rate CD
1.25%^†	$1k	-	Business 24 Month Step Rate CD
1.20%^†	$5k	-	39 Month CD Special - Bonus
1.20%^†	$5k	-	29 Month CD Special - Bonus
1.15%^†	$5k	-	Business 39 Month CD Special
1.15%^†	$5k	-	39 Month CD Special
1.15%^†	$5k	-	29 Month CD Special
1.15%^†	$5k	-	Business 29 Month CD Special
0.50%^†	$2.5k	-	6 Month CD - Bonus
0.45%^†	$2.5k	-	6 Month CD
0.45%^†	$2.5k	-	Business 6 - 11 Month CD
0.35%^†	$2.5k	-	Business 60 - 71 Month CD
0.35%^†	$2.5k	-	Business 72 - 144 Month CD
0.30%^†	$2.5k	-	Business 48 - 59 Month CD
0.25%^†	$2.5k	-	Business 36 - 47 Month CD
0.20%^†	$2.5k	-	Business 24 - 35 Month CD
0.20%^†	$2.5k	-	1 Year CD - Bonus
0.15%^†	$2.5k	-	1 Year CD
0.15%^†	$2.5k	-	Business 12 - 23 Month CD
0.10%^†	$2.5k	-	3 Month CD - Bonus
0.05%^†	$2.5k	-	3 Month CD
0.05%^†	$2.5k	-	Business 3 - 5 Month CD
0.01%^†	$2.5k	-	Business 1 - 2 Month CD

Wells Fargo Bank IRA Rates

APY	MIN	MAX	ACCOUNT NAME
1.65%^†	$2.5k	-	9 Month IRA Special - Bonus
1.60%^†	$2.5k	-	9 Month IRA Special
1.20%^†	$2.5k	-	39 Month IRA Special - Bonus
1.20%	$2.5k	-	29 Month IRA Special - Bonus
1.15%^†	$2.5k	-	39 Month IRA Special
1.15%	$2.5k	-	29 Month IRA Special
0.50%^†	$1k	-	6 - 11 Month IRA - Bonus
0.45%^†	$1k	-	6 - 11 Month IRA
0.40%^†	$1k	-	60 - 71 Month IRA - Bonus
0.40%^†	$1k	-	72 - 144 Month IRA - Bonus
0.35%^†	$1k	-	60 - 71 Month IRA
0.35%^†	$1k	-	72 - 144 Month IRA
0.35%^†	$1k	-	48 - 59 Month IRA - Bonus
0.30%^†	$1k	-	48 - 59 Month IRA
0.30%^†	$1k	-	36 - 47 Month IRA - Bonus
0.25%^†	$1k	-	36 - 47 Month IRA
0.25%^†	$1k	-	24 - 35 Month IRA - Bonus
0.20%^†	$1k	-	24 - 35 Month IRA
0.20%^†	$1k	-	12 - 23 Month IRA - Bonus
0.15%^†	$1k	-	12 - 23 Month IRA
0.10%^†	$1k	-	3 - 5 Month IRA - Bonus
0.06%^†	$1k	-	1 - 2 Month IRA - Bonus
0.05%^†	$1k	-	3 - 5 Month IRA
0.01%^†	$1k	-	1 - 2 Month IRA

Locations

Availability

San Francisco Bay Area

San Francisco Bay Area bank & credit union details

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