Wells Fargo Bank

Overview / Commentary
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.

Related Posts

Five Years At 5%+ - 10/24/2023

I just purchased a WF brokered CD on the Vanguard brokerage website with a 5 year maturity at 5.05% YTM. This is a new issue, CUSIP 949764HE7, so there is no commission to purchase. Available in $1,000 units as small as 1, so no hassle with order size.

11 Month CD @5% APY At Wells Fargo - 9/13/2023

Just got an email on this. $5000 minimum.

$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

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10/16/19 - Wells Fargo Drops Rates Again
9/30/19 - Wells Fargo Rate Drops
9/17/19 - All Rates Dropped .15 All Products
2/21/19 - 2.60% 11-Mo CD & 2.10% Savings Acct Regional Promotions
10/21/18 - Platinum Savings/Fixed Cds. Not Bad For A B&M National Bank
10/11/18 - Wells Fargo 2-Yr. Brokered CD: 3.00%
4/26/18 - 2.75% 2 Year CD
2/12/18 - 2- And 3-Year Brokered Cds
5/19/17 - $150 Wells Fargo Checking Bonus - Select Cities
5/10/17 - Wells Fargo Long Term 3.00% Callable Step-Up CD Via TD Ameritrade
3/8/17 - Wells Fargo Offers Easy $250 Checking Bonus
12/15/16 - $100 Checking Account Bonus At Wells Fargo (Online Only)
8/4/16 - Wells Fargo Everyday Checking $100 Offer
11/20/14 - Wells Fargo Refusing To Honor Widow’s 30-Year-Old CD
11/14/14 - Wells Fargo To Sell $8.5B In Government-Backed Student Loans To Navient
11/3/14 - Wells Fargo Faces Whistleblower Lawsuit Over Wachovia's Banking Practices
10/30/14 - Wells Fargo Ordered To Pay $203 Million In Debit Card-Posting Scam
10/7/14 - Free Credit Score Promo Not A Big Deal When There Are Free Alternatives
9/23/14 - Wells Fargo Arm Fined $5 Million Over Broker’s Insider Trading
3/17/14 - Wells Fargo’s $100 Checking Account Bonus - May Be Targeted
2/14/14 - Wells Fargo Edges Back Into Subprime As U.S. Mortgage Market Thaws
12/22/13 - Well Fargo Accused Of Pressure-Cooker Sales, Costing Unwary Customers
12/9/13 - Wells Fargo Tests Google Glass App: 5 Things To Know For The Week
11/26/13 - Wells Fargo Tests New Checking Account In Three States
10/17/13 - Wells Fargo’s Checking Account Bonus - Limited Areas
10/17/13 - History of Wells Fargo Bonus Payouts
10/3/13 - Wells Fargo Fires Workers Accused Of Cheating On Sales Goals
9/19/13 - Wells Fargo Account Holders: Take Note
8/21/13 - Wells Fargo To Cut 2,300 Mortgage Jobs As Refinancing Slows
7/25/13 - Wells Fargo Becomes World's Most Valuable Bank
7/10/13 - Wells Fargo Refuses to Honor an Old Cashier’s Check
5/16/13 - Wells Fargo Ordered - Again - To Pay $203M In Overdraft Case
5/8/13 - Complications at Wells Fargo When a Bank Account Lacks a Beneficiary
4/16/13 - Wells Fargo Mini-Branches And The Shrinking Retail Footprint
3/26/13 - Wells Fargo Says Cyber Attack Disrupting Website
2/7/13 - Woman Loses Heirlooms In A Wells Fargo Safe Deposit Box
1/11/13 - Wells Fargo's Q4 Earnings Report - Insights For Depositors
12/19/12 - Problems At Wells Fargo Website May Indicate New Cyber Attack
10/26/12 - Wells Fargo Sending Out Refunds To Some Mortgage Customers -- In Step To Block Lawsuits
10/24/12 - Wells Fargo's Free Credit Score Promo & Other Free Credit Score Options
9/14/12 - A Binding Contract, But Not For Wells Fargo
8/29/12 - Wells Fargo Won’t Talk To Me Because I’m Not My Dead Mother
8/15/12 - Wells Fargo To Pay More Than $6.5 Million To Settle SEC Charges
8/14/12 - Electronic Receipts From Wells Fargo ATMs And Tellers
7/24/12 - Wells Fargo Rolling Out New Mobile Banking Services
7/3/12 - Wells Fargo Fee Disclosures: Bank Joins Chase, TD Bank With Shorter Forms
7/3/12 - Wells Fargo's Roll Out Of Checking Fees Hits D.C. Area
5/16/12 - Wells Fargo To End Free Checking In Carolinas
4/30/12 - Wells Fargo Won't Let Man Access His Safe Deposit Box, He Misses His Mother's Funeral
3/25/12 - How Do Big Banks Allocate Deposits In The Internet Era To Branches?
3/8/12 - Wells Fargo To Charge $7 Fee On More Checking Accounts
3/3/12 - Transactions On Closed Checking Account- Not Subject To Wells Fargo Only**
1/21/12 - Phoenix Woman Blames Wells Fargo For $5,200 Loss
1/17/12 - Wells Fargo Q4 Earnings Report & My Review For Future Deposit Rate Insights
12/22/11 - Correcting An ACH Transfer That Goes To The Wrong Account
12/7/11 - Wells Fargo Changes Consumer Agreement, Banning You From Suing Them
11/18/11 - Resolution on My Wells Fargo CD Beneficiary Problem
11/13/11 - My Problems with a Mega Bank Part 1 - Wells Fargo
11/12/11 - Wells Fargo Pushing Its New Way2Save Savings Account
10/31/11 - Wells Fargo Backs Off Plans On Debit Card Fees
10/20/11 - Wells Fargo Mails Customers The Wrong Bank Statements
10/19/11 - Wells Fargo Debit Fee Questioned As Bank Records Record Profit
9/15/11 - Harder To Avoid Checking Account Fees At Wells Fargo
9/9/11 - Higher Wire Transfer Fees at Wells Fargo and Citizens Bank - Wire Alternatives
8/16/11 - Wells Fargo To Begin Charging Debit Card Fees In Certain States
7/27/11 - Wells Fargo Target Of Justice Department Probe; Agency Alleges Discriminatory Lending
6/17/11 - Wells Fargo To Stop Making Reverse Mortgages
5/18/11 - Update On Wachovia-To-Wells Fargo Conversions
4/14/11 - Wells Fargo Is Testing Visa Smart Cards
3/28/11 - Wells Fargo Joins Chase In Cutting Back On Debit-Card Rewards Programs
2/28/11 - Wells Fargo Leads In The Hard Sell
2/9/11 - Nationwide Outage Hits Wells Fargo ATMs
10/25/10 - Wachovia To Wells Fargo Georgia Conversion
8/17/10 - Excessive Withdrawal Fees from Bank of America, Citi, Wells Fargo and Ally
6/24/10 - Foreign ATM Transactions At Wachovia And Wells Fargo
6/20/10 - TX & KS Wachovia Branches & Accounts Converting To Wells Fargo On July 24
3/9/10 - Wells Fargo $50 Checking Account Bonus in a Few States
2/1/10 - Wells Fargo's New ATMs That Allow Cash and Check Deposits without Envelopes
1/25/10 - Update on Wells Fargo's New Way2Save Program
10/12/09 - Details of Wells Fargo's New Way2Save Program - Big Changes from Wachovia's Way2Save
8/11/09 - 2.75% 32-Month CD at Wachovia on the East Coast and Other Wachovia/Wells Fargo Deals
2/3/09 - Wachovia Checking Account Bonuses, News, CDs and Other Deals
10/14/08 - $75 Checking Account Bonus at a Wachovia Branch in Dallas - Plus Recap on Wachovia News & Deals
9/3/08 - Update on Wells Fargo $50 Checking Account Bonus
8/18/08 - $50 Checking Account Bonus at Wells Fargo
7/16/08 - 5.25% 7-Month CD at Wells Fargo
6/26/08 - $75 Checking Account Bonus at a Wachovia Branch in Dallas - Plus Recap on Wachovia Deals
5/6/08 - Wachovia's Way2Save Savings Account Golf Promo - 16% for 3 Months
4/27/08 - Update on Wachovia's 4.75% 60-Month Featured CD
4/2/08 - $75 Checking Account Bonus at a Wachovia Branch in Washington DC
1/29/08 - 5.05% 5-Month CD Special at Wachovia in Some States
1/3/08 - $75 Checking Account Bonus at a Wachovia Branch in Texas Plus Reminder of Wachovia's Nationwide $50 Bonus
11/4/07 - $50 Checking Account Bonus at Wells Fargo - No DD Requirements in Some States
10/16/07 - 5.41% 8-Month Featured CD at Wachovia
10/1/07 - 5.25% 12-Month CD Promotion at Wachovia
6/11/07 - Free Checking Account Promotion at Wachovia in Dallas
6/9/07 - $100 Checking Account Bonus at Wachovia in NY/MD/DC/VA
5/18/07 - Update on Wachovia Bank Promotions
3/28/07 - Update on Wachovia's 5% Money Market Account and Other Promotions
3/21/07 - 5.40% 7-Month CD at Wachovia Texas
2/14/07 - Wells Fargo's Free Online Trades
11/11/06 - 5.65% 12-Month CD at a California Bank (Western Financial)
6/11/06 - 5.25% 11-Month CD at Wachovia
5/17/06 - iPod Checking Account Bonus at Western Financial Bank
5/3/06 - 4.80% Money Market Account at Western Financial Bank
4/6/06 - Western Financial Bank's Money Market Now at 4.50%
3/12/06 - $25 Gift Card for Wells Fargo Checking or Savings Account
1/22/06 - 4.75% 12-Month CD at a Dallas Bank
10/20/05 - Wells Fargo $25 Checking/Savings Deal
9/13/05 - Wells Fargo Featured CDs

Reviews (361)

Great Bank To Do Business With!

My husband and I have been with Wells Fargo for several years and we are extremely happy with them. We have checking, savings and credit cards with them and find the bank to be very easy to deal with. The employees at our branch are friendly and helpful and we wouldn't consider banking elsewhere!

Highly Recommended Specialist

Posted by: |

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No Great Rates

Posted by: |

I've been with WF for many years.... since they were First Union bank. I stay for the convenience of the branches but not the savings rates. I use the checking as a hub to pay bills and route money from closed CDs to the next bank that has a great rate. Helps keep my paperwork in order but I leave it in WF for the shortest possible time.There hasn't been a great cd rate since they were Wachovia. The checking and money market pay .01 which is the equivalent of zero! But I'm grandfathered in to no fees with low balance requirements, free checks and a free safe deposit box. I've found their branches go from super friendly to totally unhelpful so you have to look around. When I cashed in a savings bond one branch refused to make a copy of it for me, another made 2 copies with a smile!

Current Rates

Posted by: |

The current Fed Funds rate is 5.25-5.50 it was not lowered to 4.4 aside from that the service is quite poor at branches even to cash checks.



Health Grade Components

FDIC Certificate #3511
Year Established1870
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD1.35%
Return on Equity - YTD14.13%
Annual Interest Income$37.04B
Assets and Liabilities
AssetsQ2 2023vs Q2 2022$1,667.9B$1,712.5B
LoansQ2 2023vs Q2 2022$897.2B$898.7B
DepositsQ2 2023vs Q2 2022$1,383B$1,462.4B
Equity CapitalQ2 2023vs Q2 2022$162.6B$162.4B
Loan Loss AllowanceQ2 2023vs Q2 2022$14.22B$11.63B
Unbacked Noncurrent LoansQ2 2023vs Q2 2022$7.44B$6.61B
Real Estate OwnedQ2 2023vs Q2 2022$288.0MM$138.0MM
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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

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

0.15%--Business Market Rate Savings

Wells Fargo Bank Checking Account Rates

0.50%*$100k*-Wells Fargo Premier Checking
OTHER TIERS: 0.25% Up to $100k
0.01%--Wells Fargo Prime Checking

Wells Fargo Bank CD Rates

5.26%$5k-11 Month CD Special - Bonus
5.01%$5k-7 Month CD Special - Bonus
5.00%$5k-11 Month CD Special
5.00%$5k-Business 11 Month CD Special
4.75%$5k-7 Month CD Special
4.75%$5k-Business 7 Month CD Special
4.51%--3 Month CD - Bonus
4.50%--3 Month CD
4.50%--Business 3 - 5 Month CD
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
0.01%--Business 1 - 2 Month CD

Wells Fargo Bank IRA Rates

5.26%$5k-11 Month IRA Special - Bonus
5.01%$2.5k-7 Month IRA Special - Bonus
5.00%$5k-11 Month IRA Special
4.75%$2.5k-7 Month IRA Special
4.51%--3 - 5 Month IRA - Bonus
4.50%--3 - 5 Month IRA
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
0.02%--1 - 2 Month IRA - Bonus
0.01%--1 - 2 Month IRA


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