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.

$525 Savings Bonus Equivalent Interest Rate Up To 12.80% - 3/18/2023

Well Fargo is offering a savings bonus of $525 when you deposit $25k. They give you 30 days to fully fund the account when you open it IN BRANCH with a $25 minimum. If you open with $300 you don't have to worry about fees for that month. Total time to keep funds on deposit is 90-days from account opening. So it works out to funding + hold period 30+60. This bonus equates to a 60-90-day max CD OPEN IN BRACH with the minimum, then link an external account to WF and push in the balance of the $25k. The key here to getting the maximum yield is to to fully fund as close to the end of the 30-day period as possible. After the 90-day from opening expires reduce the $25k down to $300 to keep account fee free until bonus posts. I ran some time scenarios at the doc site so I'm posting them here. Account pays .15% interest but when you take the bonus equivalent interest rate into account it becomes a game changer. BONUS PORTION ONLY ANALYSIS Initial Balance: $25,000 Final Balance: $25,525 Te

$525 Savings Bonus $25K 90 Days - 3/13/2023

I know how much everyone loves to hate WF, but this is an attractive deal. https://bonusoffer.wf.com/savingsbonus With the turbulence around Silicon Valley Bank and Signature Bank, we may see a bunch of deals like recent ones from SoFi, Ally and Capital One with bonuses for adding money to your account.

Earn Up To $2500 Bonus With WF Premier Checking - 2/20/2023

It requires $250,000 or more in new deposits to qualifed linked accounts by day 45 and maintain at least a $250,000 balance through day 90 after account upgrade or opening. Don't know much more about it as I just happened to see this but I'll post the link for anyone that might be interested in checking it out for themselves. https://bonusoffer.wf.com/premierbonus

View all posts from:

2023
2022
2021
Earlier

3/18 - $525 Savings Bonus Equivalent Interest Rate Up To 12.80%
3/13 - $525 Savings Bonus $25K 90 Days
2/20 - Earn Up To $2500 Bonus With WF Premier Checking

10/31 - Wells Fargo CD Rates Not Half Bad
9/13 - Wells Fargo Leaps Ahead Of Brokered CD Competitors For Multiple Durations (2-Year 3.75%)
8/19 - No More Lollipops At Wells Fargo
2/11 - Wells Fargo Bank Has $300 Bonus For New Checking Customers

11/8 - $300 Checking Bonus

Reviews (355)

Credit Repair

Posted by: Chris721 | Mar 26, 2023

I had built my credit score painstakingly over the past 3years with intention of getting a home loan by January 2023. My credit went down drastically when I went through a repossession which dropped my credit by almost 97pts; different negative items began to creep in. With my dream shattered I sought for help everywhere, and came across METRONET CREDIT SOLUTION. I contacted them after a careful review about their jobs. They helped boost my credit score across board to an excellent credit fix. I have been pre-approved for a home loan. You can reach them via customer service on WHATSAPP: +16265140620 or EMAIL: METRONETCREDITSOLUTION at GMAIL dot COM.

Comment

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

Idiot Woke Bank. Hope It Fails.

Posted by: frodebug | Mar 23, 2023

Used to have 10 separate accounts plus a huge safe deposit box at this bank. I dumped them all. Ridiculous, woke San Francisco leftist bank. Massive jumbotrons at my branch, but white people excluded in advertising. If you have an account here, head for the exits NOW!!!

Comment

Great Service, Nice App

Posted by: Hiking7 | Jul 17, 2020

I needed a branch close to my house, as I closed Alaska FCU checking account, after 10 years, website was bad, out of date, no linking accounts, app doesnt let you deposit checks, it just didnt work anymore, and nearest branch is 40 minute drive from my house on a good day no traffic, as they closed the one nearest to me, so I decided to try Wells Fargo since most of my family banks there for years and have great comments to say about them. Wow, i am impressed, customer service is great, i called twice and super helpful and nice, mobile app is superb, on line UI nice. No issues so far, WF ATM about 5 min away so i never pay ATM fees. I can deposit cash, and use the app to deposit checks. I linked Ally Bank & WF and no issues (checking account at both). I also linked my HYSA (Marcus & Capital One) no issues. WF is very convenient for me. Alot of people are negative about WF, but so far so good.

Comment

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Health

B+

Data as of Q2 2022

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #	3511
Year Established	1870
Employees	214924
Primary Regulator	OCC

Profit Margin
Return on Assets - YTD	0.87%
Return on Equity - YTD	9.15%
Annual Interest Income	$20.31B

Assets and Liabilities
Assets	Q2 2022vs Q2 2021	$1,712.5B$1,776.7B
Loans	Q2 2022vs Q2 2021	$898.7B$822.6B
Deposits	Q2 2022vs Q2 2021	$1,462.4B$1,494.6B
Equity Capital	Q2 2022vs Q2 2021	$162.4B$172.5B
Loan Loss Allowance	Q2 2022vs Q2 2021	$11.63B$14.94B
Unbacked Noncurrent Loans	Q2 2022vs Q2 2021	$6.61B$7.76B
Real Estate Owned	Q2 2022vs Q2 2021	$138.0MM$148.0MM

Rates

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Money Market
Checking
CD
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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
2.51%^*^†	$1m^*	-	Platinum Savings - Standard Interest Rate Bonus
OTHER TIERS: 0.26% → Up to $100k \| 1.02% → $100k - $500k \| 2.01% → $500k - $1m
2.50%^*^†	$1m^*	-	Wells Fargo Retirement High Yield Savings
OTHER TIERS: 0.25% → Up to $100k \| 1.01% → $100k - $500k \| 2.00% → $500k - $1m
2.50%^*^†	$1m^*	-	Business Platinum Savings - Standard Interest Rate
OTHER TIERS: 0.25% → Up to $100k \| 1.01% → $100k - $500k \| 2.00% → $500k - $1m
2.50%^*^†	$1m^*	-	Platinum Savings - Standard Interest Rate
OTHER TIERS: 0.25% → Up to $100k \| 1.01% → $100k - $500k \| 2.00% → $500k - $1m
0.15%^†	-	-	Wells Fargo Retirement Way2Save Savings
0.15%^†	-	-	Wells Fargo Way2Save Savings

Wells Fargo Bank Money Market Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.15%^†	-	-	Business Market Rate Savings

Wells Fargo Bank Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.50%^*^†	$100k^*	-	Wells Fargo Premier Checking
OTHER TIERS: 0.25% → Up to $100k
0.10%^*^†	$100k^*	-	Wells Fargo Prime Checking
OTHER TIERS: 0.05% → Up to $100k

Wells Fargo Bank CD Rates

APY	MIN	MAX	ACCOUNT NAME
4.26%	$5k	-	8 Month CD Special - Bonus
4.01%	$5k	-	4 Month CD Special - Bonus
4.00%	$5k	-	8 Month CD Special
4.00%	$5k	-	Business 8 Month CD Special
3.75%	$5k	-	4 Month CD Special
3.75%	$5k	-	Business 4 Month CD Special
2.51%^†	-	-	6 Month CD - Bonus
2.50%^†	-	-	6 Month CD
2.50%^†	-	-	Business 6 - 11 Month CD
2.01%^*^†	$100k^*	-	1 Year CD - Bonus
OTHER TIERS: 1.51% → Up to $100k
2.00%^*^†	$100k^*	-	1 Year CD
OTHER TIERS: 1.50% → Up to $100k
2.00%^*^†	$100k^*	-	Business 12 - 23 Month CD
OTHER TIERS: 1.50% → Up to $100k
2.00%^*^†	$100k^*	-	Business 24 - 35 Month CD
OTHER TIERS: 1.50% → Up to $100k
2.00%^*^†	$100k^*	-	Business 36 - 47 Month CD
OTHER TIERS: 1.50% → Up to $100k
2.00%^*^†	$100k^*	-	Business 48 - 59 Month CD
OTHER TIERS: 1.50% → Up to $100k
2.00%^*^†	$100k^*	-	Business 60 - 71 Month CD
OTHER TIERS: 1.50% → Up to $100k
2.00%^*^†	$100k^*	-	Business 72 - 144 Month CD
OTHER TIERS: 1.50% → Up to $100k
1.02%^*^†	$100k^*	-	3 Month CD - Bonus
OTHER TIERS: 0.51% → Up to $100k
1.01%^*^†	$100k^*	-	3 Month CD
OTHER TIERS: 0.50% → Up to $100k
1.01%^*^†	$100k^*	-	Business 3 - 5 Month CD
OTHER TIERS: 0.50% → Up to $100k
0.01%^†	-	-	Business 1 - 2 Month CD

Wells Fargo Bank IRA Rates

APY	MIN	MAX	ACCOUNT NAME
4.26%	$5k	-	8 Month IRA Special - Bonus
4.01%	$5k	-	4 Month IRA Special - Bonus
4.00%	$5k	-	8 Month IRA Special
3.75%	$5k	-	4 Month IRA Special
2.51%^†	-	-	6 - 11 Month IRA - Bonus
2.50%^†	-	-	6 - 11 Month IRA
2.01%^*^†	$100k^*	-	12 - 23 Month IRA - Bonus
OTHER TIERS: 1.51% → Up to $100k
2.01%^*^†	$100k^*	-	24 - 35 Month IRA - Bonus
OTHER TIERS: 1.51% → Up to $100k
2.01%^*^†	$100k^*	-	36 - 47 Month IRA - Bonus
OTHER TIERS: 1.51% → Up to $100k
2.01%^*^†	$100k^*	-	48 - 59 Month IRA - Bonus
OTHER TIERS: 1.51% → Up to $100k
2.01%^*^†	$100k^*	-	60 - 71 Month IRA - Bonus
OTHER TIERS: 1.51% → Up to $100k
2.01%^*^†	$100k^*	-	72 - 144 Month IRA - Bonus
OTHER TIERS: 1.51% → Up to $100k
2.00%^*^†	$100k^*	-	12 - 23 Month IRA
OTHER TIERS: 1.50% → Up to $100k
2.00%^*^†	$100k^*	-	24 - 35 Month IRA
OTHER TIERS: 1.50% → Up to $100k
2.00%^*^†	$100k^*	-	36 - 47 Month IRA
OTHER TIERS: 1.50% → Up to $100k
2.00%^*^†	$100k^*	-	48 - 59 Month IRA
OTHER TIERS: 1.50% → Up to $100k
2.00%^*^†	$100k^*	-	60 - 71 Month IRA
OTHER TIERS: 1.50% → Up to $100k
2.00%^*^†	$100k^*	-	72 - 144 Month IRA
OTHER TIERS: 1.50% → Up to $100k
1.02%^*^†	$100k^*	-	3 - 5 Month IRA - Bonus
OTHER TIERS: 0.51% → Up to $100k
1.01%^*^†	$100k^*	-	3 - 5 Month IRA
OTHER TIERS: 0.50% → Up to $100k
0.02%^†	-	-	1 - 2 Month IRA - Bonus
0.01%^†	-	-	1 - 2 Month IRA