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.

Wells Fargo CD Rates Not Half Bad - 10/31/2022

In the Southern California market, 2.47% (2.50% APY) for 7 months, 2.71% (2.75% APY) for 13 months. A 0.25% boost for those with Prime Checking or higher ($20,000 minimum balance in linked accounts). $5,000 minimum.I checked some other markets (Northern CA, Charlotte, Kansas) and they were the same as well, unlike some other banks. There is also a three month CD available for all at 2.00% APY for $100k and up. Other rates are 0.30% or less. Interestingly they are not publishing rates for terms over 13 months. https://www.wellsfargo.com/savings-cds/rates/

Wells Fargo Leaps Ahead Of Brokered CD Competitors For Multiple Durations (2-Year 3.75%) - 9/13/2022

On Vanguard, here are Wells Fargo current non-callable Brokered CD offers as of 3:45pm Eastern, September 13 3.75% 2-year 3.70% 18-month 3.65% 12-month 3.60% 9-month 3.50% 6-month

No More Lollipops At Wells Fargo - 8/19/2022

Mrs. Rockies and I made a very rare trip inside our local brick and mortar Wells Fargo branch earlier today. We wanted to get some cash which required the teller to make a quick trip to the bank safe. As we were concluding our transaction, I said to the teller, "My wife gets the cash, but could I get a sucker, please?"...you know, those iconic, little Dum Dums lollipops. I made the request because I did not see the traditional small bucket of lollipops. To my surprise, the teller made another trip to the bank safe and returned with my lollipop. Laughing, I said, "You keep the lollipops in the safe?" Her reply was, "Yes, we do. These are all we get. We are no longer ordering more. When these are gone, they are gone." Oh my goodness! I must have missed the memo on this. No kidding, we must have 6 or 7 brick and mortar Wells Fargo branches within a 10 mile radius of us that have to cost WF an absolute fortune to operate... but no lollipops? Anyway, I am a little embarrassed to admit tha

View all posts from:

2022
2021
2019
Earlier

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

10/16 - Wells Fargo Drops Rates Again
9/30 - Wells Fargo Rate Drops
9/17 - All Rates Dropped .15 All Products
2/21 - 2.60% 11-Mo CD & 2.10% Savings Acct Regional Promotions

Reviews (357)

Awesome Bank!

Posted by: EricAdkins3 | Dec 19, 2020

I have been with Wells Fargo for 2 months, they are really great! At first, I was a little scared because of the scam history but I opened an account and NOTHING but excellent service! My money is always on time, or early! I love the 24/7 customer service, every customer Representative I spoke to was extremely polite and professional. I do wish there was a lot more locations in Delaware! Online/mobile banking app is GREAT! No complaints there. I LOVE Wells Fargo!!! They are a outstanding bank!!! They have my service forever. There is NO long time wait time either which is awesome, All of my questions are answered at that moment. The debit card design selection is neat as well. 5 stars from me I recommend them to everyone!!!

Account Hacked At WELLS FARGO

Posted by: caleebwatson | Jun 12, 2022

My name is CALEEB A WATSON

Online acct. hacked on 5/19/22 for $999.99 and hacked again on 5/20/22 for $999.98 and $999.99, report info. to bank who told me to do a stop pymt., notifying me that the hacked took to money from my account and sent it over to my account at Capital One and they were not smart at all, I said I don't believe hackers can do all that, to much hacking for me to believe, they said they would contact Capital One and have them return the money, I contact Capitol One and notified them numerous times and said no extra money has come over. I looked at the bank information and realized Wells Fargo had sent the money to acct. ending with 9480 which was not associated with my account., only having one associated acct. with Capital One.

6/2/22 called customer to inform them of the last 4 of acct. ending 9480 was not my account and was informed the bank had close my case and blamed me or an associate for hacking my account and sending money to Capital One.

6/3/22 went to a branch because it was hard getting info. from customer service other then notes that was read to me stating hacker send money to my account and closing my fraud case.

The Banker RADHAMES DEJESUS ABREU 302/421-7508 stated to me a Fraud Case had never be established and no investigation was never done and Wells Fargo denied my Fraud Case talking to me over and over again and a fraud case was never established or one investigated, I REALLY THANK RADHAMES for all his help, got little help else where.

I established 3 case for the $999.97/$999.98/$999.99 with case numbers ON 6/3/22.

Wells Fargo needs to be investigated, how many time has such happen to the consumers, when they send money from accounts and don't know where the money is going or were it should go to.

WELLS FARGO sent money from my account to an account not affiliated with my account and as a consumer I should not have to wait for they to figure out who they sent my money to.

Capital One stated to me that Wells Fargo sent the money to acct. ending 9480 and should replace the money.

Contacted the Wells Fargo Advocacy Dept. 1–844/931/2273

Bill Pay Claims 1–800/869/3557

Credit Karma-Lending Tree-Super Money-Consumer Financial Protection Bureau

Yelp-Google my Business

I Need Help With This Bank

Posted by: leonardo83jj | Nov 16, 2022

I have account and this bank help the people how is doing fraud under my name and stealing money on this bank and no one help me was going on with my account is missing alot of money I having an eviction bow cuz they let other ones steal your money worst bank

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

APY	MIN	MAX	ACCOUNT NAME
2.01%^*^†	$1m^*	-	Platinum Savings - Standard Interest Rate Bonus
OTHER TIERS: 0.26% → Up to $100k \| 1.02% → $100k - $500k \| 1.51% → $500k - $1m
2.00%^*^†	$1m^*	-	Business Platinum Savings - Standard Interest Rate
OTHER TIERS: 0.25% → Up to $100k \| 1.01% → $100k - $500k \| 1.50% → $500k - $1m
2.00%^*^†	$1m^*	-	Platinum Savings - Standard Interest Rate
OTHER TIERS: 0.25% → Up to $100k \| 1.01% → $100k - $500k \| 1.50% → $500k - $1m
0.25%^†	-	-	Wells Fargo Retirement High Yield Savings
0.15%^†	-	-	Wells Fargo Way2Save Savings
0.01%^†	-	-	Wells Fargo Retirement Way2Save Savings

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

APY	MIN	MAX	ACCOUNT NAME
3.51%	$5k	-	13 Month CD Special - Bonus
3.26%	$5k	-	7 Month CD Special - Bonus
3.25%	$5k	-	13 Month CD Special
3.25%	$5k	-	Business 13 Month CD Special
3.00%	$5k	-	7 Month CD Special
3.00%	$5k	-	Business 7 Month CD Special
2.51%^*^†	$100k^*	-	3 Month CD - Bonus
OTHER TIERS: 0.11% → Up to $100k
2.50%^*^†	$100k^*	-	3 Month CD
OTHER TIERS: 0.10% → Up to $100k
2.50%^*^†	$100k^*	-	Business 3 - 5 Month CD
OTHER TIERS: 0.10% → Up to $100k
0.70%^†	-	-	Business 60 - 71 Month CD
0.70%^†	-	-	Business 72 - 144 Month CD
0.60%^†	-	-	Business 48 - 59 Month CD
0.50%^†	-	-	Business 36 - 47 Month CD
0.40%^†	-	-	Business 24 - 35 Month CD
0.31%^†	-	-	1 Year CD - Bonus
0.30%^†	-	-	1 Year CD
0.30%^†	-	-	Business 12 - 23 Month CD
0.21%^†	-	-	6 Month CD - Bonus
0.20%^†	-	-	6 Month CD
0.20%^†	-	-	Business 6 - 11 Month CD
0.01%^†	-	-	Business 1 - 2 Month CD

APY	MIN	MAX	ACCOUNT NAME
3.51%	$5k	-	13 Month IRA Special - Bonus
3.26%	$5k	-	7 Month IRA Special - Bonus
3.25%	$5k	-	13 Month IRA Special
3.00%	$5k	-	7 Month IRA Special
2.51%^*^†	$100k^*	-	3 - 5 Month IRA - Bonus
OTHER TIERS: 0.11% → Up to $100k
2.50%^*^†	$100k^*	-	3 - 5 Month IRA
OTHER TIERS: 0.10% → Up to $100k
0.71%^†	-	-	60 - 71 Month IRA - Bonus
0.71%^†	-	-	72 - 144 Month IRA - Bonus
0.70%^†	-	-	60 - 71 Month IRA
0.70%^†	-	-	72 - 144 Month IRA
0.61%^†	-	-	48 - 59 Month IRA - Bonus
0.60%^†	-	-	48 - 59 Month IRA
0.51%^†	-	-	36 - 47 Month IRA - Bonus
0.50%^†	-	-	36 - 47 Month IRA
0.41%^†	-	-	24 - 35 Month IRA - Bonus
0.40%^†	-	-	24 - 35 Month IRA
0.31%^†	-	-	12 - 23 Month IRA - Bonus
0.30%^†	-	-	12 - 23 Month IRA
0.21%^†	-	-	6 - 11 Month IRA - Bonus
0.20%^†	-	-	6 - 11 Month IRA
0.02%^†	-	-	1 - 2 Month IRA - Bonus
0.01%^†	-	-	1 - 2 Month IRA

Wells Fargo Bank

Related Posts

Awesome Bank!

Account Hacked At WELLS FARGO

I Need Help With This Bank

Great Service, Nice App

Data as of Q2 2022

Health Grade Components

Wells Fargo Bank Savings Account Rates

Wells Fargo Bank Money Market Rates

Wells Fargo Bank Checking Account Rates

Wells Fargo Bank CD Rates

Wells Fargo Bank IRA Rates

Availability

San Francisco Bay Area