WEX Bank is headquartered in SANDY and is the 13th largest bank in the state of Utah. It is also the 203rd largest bank in the nation. It was established in 1998 and as of June of 2024, it had grown to 83 employees at 1 location. WEX Bank has an A health rating.
WEX IS THE BEST OF THE BEST
This review intends to deliver our personal experience with WEX bank as a whole including all of their departments, we understand that every experience is different and we respect everyone's opinion. When we were on the verge of going under due to COVID-19, we were desperately in need of a lifeline, I have invested our life savings along with taking a home equity loan to fund our business, and as soon as we opened Covid came around to destroy everything we built with sweat and tears and working literally around the clock 24/7, as a last resort I turned to WEX without any established relationship between us, I have put everything on the table and I explained to them our situation and the fact that if we don't receive the help that is very much needed we will not be able to survive, WEX gave us the lifeline and spared no effort to rescue us and for that, I'm forever in debt, to this Organization with special thanks to CHEVRON and everyone works in that department, and if I could I will invest every single penny with this Bank and I will have No Worries whatsoever, I, my family, and everyone works with us owe this Bank our life. Thank You from the bottom of my heart.
Horrible Company
I don’t understand why companies such as Exxon allow a third-party administrator, such as Wex bank to represent their corporation. The staff at Wex are rude. The interest rates are ridiculously high and they just don’t care. We have a fleet of 50+ vehicles and we have recently change the past 30 days to Fuelman. Beware of Wex.
Bad For Business( TOOK MY MONEY)
I was terminated from my job and the same day my FSA card was terminated, with a balance left on my card. I was told the IRS retrieved my balance but IRS say they have no records. One MEX representative said I had until Dec. 31, to use my card, then another representative told me my card was terminated the day I was terminated from my job, back in September. I was sent no notice of inactivity pertaining to my card being inactive. Now, I see there's still a balance on my card, but they said the IRS has retrieved my balance. The representative I spoke with at the IRS was in disbelief especially knowing these FSA,HSA cards have a yearly turnover and my card was deactivated back in September and they had the nerve to take a last payment from my paycheck before deactivating my card. Do not deal with this bank and their cards.
Data as of Q2 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 34697 |
| Year Established | 1998 |
| Employees | 83 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 4.15% |
| Return on Equity - YTD | 53.61% |
| Annual Interest Income | $509.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2024vs Q2 2023 | $7.6B$6.9B |
| Loans | Q2 2024vs Q2 2023 | $3.46B$3.17B |
| Deposits | Q2 2024vs Q2 2023 | $5.69B$5.57B |
| Equity Capital | Q2 2024vs Q2 2023 | $550.8MM$522MM |
| Loan Loss Allowance | Q2 2024vs Q2 2023 | $53.2MM$70.9MM |
| Unbacked Noncurrent Loans | Q2 2024vs Q2 2023 | $19.2MM$23.5MM |
| Real Estate Owned | Q2 2024vs Q2 2023 | $0$0 |