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.
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 !!!!
Unfortunately, I had been a Wells Fargo Customer for more than 10 years. I learned they have a pattern to really structure overdraft fees and other fees to their advantage. I grant that ultimately it is the account holder's responsibility to mange their account. When you have automatic deposits and automatic payments, some times its easily to go into an out of sight/out of mind routine. Don't do that with Wells Fargo. You will pay for it in a big way. Because they are mega and monstrous, they just don't care and are callous. It is known that bank fees are the new boon of profits for banks and 20% of customers pay 80% of the fees. Those customers are typically people who are struggling to make ends meet so they think overdraft fee protections are helpful. They are not. Here's a way to protect yourself:
1. Pay your bills on time yourself.
2. Don't rely on overdraft protection: it is not the gift you think.
3. Don't use automatics payments
4. Check your account balances frequently
5. Don't allow the banks to automatically increase your credit limits
6. DON'T BANK WITH WELLS FARGO
I was in a branch of this bank to open a checking account and the experience I had was very rewarding I was quickly attended and the attention was very personalized, they explained to me in detail the requirements I needed to open the account. I left very enthusiastic about the intitucion and recommended them to my friends and family
|FDIC Certificate #||3511|
|Return on Assets - YTD||1.15%|
|Return on Equity - YTD||11.7%|
|Annual Interest Income||$60.38B|
|Assets and Liabilities|
|Assets||Q4 2019vs Q4 2018||$1,712.9B$1,689.4B|
|Loans||Q4 2019vs Q4 2018||$934.4B$922.2B|
|Deposits||Q4 2019vs Q4 2018||$1,382.1B$1,342B|
|Equity Capital||Q4 2019vs Q4 2018||$167.3B$164.9B|
|Loan Loss Allowance||Q4 2019vs Q4 2018||$9.28B$9.50B|
|Unbacked Noncurrent Loans||Q4 2019vs Q4 2018||$6.16B$6.91B|
|Real Estate Owned||Q4 2019vs Q4 2018||$296.0MM$457.0MM|
Rates for Wells Fargo Bank are currently being reviewed.