Wells Fargo review: Everything you need to know

When you think of big banks in the US, Wells Fargo is usually near the top of the list. Founded in the 1800s, it has grown into a financial giant with branches in nearly every state and a reputation for offering just about every banking product you could need.

But big banks come with both convenience and trade-offs. In this Wells Fargo review, we’ll break down what it offers, how it compares, and what to watch for.

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Wells Fargo: general overview

Wells Fargo is one of the oldest and largest banks in the US, with roots dating back to 1852. Headquartered in San Francisco, it has grown into a household name, serving more than 60 million customers and operating thousands of branches and ATMs nationwide.¹

The bank is built on the idea of being a one-stop shop. Whether you need a simple checking account for daily spending, a mortgage to buy a home, or investment advice for long-term planning, Wells Fargo positions itself as a provider that can cover all financial stages of life.

Wells Fargo’s main offerings include:

• Checking accounts for everyday use
• Savings accounts and CDs for building reserves
• Credit cards with rewards, cashback, and secured options
• Loans and mortgages for personal, auto, and home financing
• Small business accounts and merchant services
• Wealth management and investment services

For many, Wells Fargo represents the convenience of having all financial needs under one roof, with the reach and stability of a major US bank.

Wells Fargo checking account reviews

Wells Fargo has one of the widest selections of checking accounts among US banks. Maybe you’re opening your very first account, managing day-to-day spending, or looking for premium perks. Either way, there’s likely an option that fits.

All accounts include access to 10,000+ ATMs, mobile deposits, debit cards with contactless payments, and 24/7 fraud monitoring. The differences come down to fees, overdraft rules, and benefits.

If you’re after simplicity and no overdraft risk, Clear Access is a safe choice. If you want more perks and don’t mind higher balance requirements, Prime or Premier can be worth a look. Everyday Checking lands in the middle as a standard all-purpose option.

Wells Fargo savings account reviews

Wells Fargo offers two main savings accounts, but neither stands out for having high interest. The Way2Save® Savings is designed as a starter option with a very low APY, while the Platinum Savings offers slightly better rates if you can keep a higher balance.

Both accounts are FDIC insured, can be managed online or through the Wells Fargo app, and are easily linked to a checking account for automatic transfers.

If your priority is earning interest, you’ll likely find better returns with an online high-yield savings account. But if you already bank with Wells Fargo and want everything in one place, these accounts provide convenience.

Wells Fargo CD

Wells Fargo certificates of deposit are designed for savers who want a guaranteed return with minimal risk. Interest is compounded daily, and funds are FDIC-insured up to the legal limits.

The bank also offers limited-time “Special CDs” that pay higher APYs for shorter promotional terms. However, these rates change frequently and typically require a larger minimum deposit of $5,000.

Be aware of early withdrawal penalties: shorter CDs cost you 1–3 months of interest, while longer terms can carry penalties of up to 12 months of interest if you take money out before maturity.

Wells Fargo standard CD rates at a glance

Wells Fargo customer experience

Wells Fargo customers can manage accounts online, through the mobile app, or in person at one of the bank’s thousands of branches nationwide. You can also arrange an appointment in advance if you’d prefer not to wait in line.

The Wells Fargo app is highly rated, with features like mobile check deposit, Zelle® transfers, and debit card controls. Phone support is available 24/7, and the website has a detailed FAQ section and financial education tools to help answer common questions.

While Wells Fargo offers plenty of ways to get support, customer reviews are mixed. Some highlight the convenience of digital banking and branch access, while others note longer wait times and inconsistent service quality.

Wells Fargo overdraft fees

Wells Fargo charges overdraft fees on most of its consumer checking accounts, but the details depend on the account type. The standard overdraft fee is $35 per item, with a maximum of three fees per business day.⁹

There are a couple of ways customers can avoid these charges:

• Extra Day Grace Period: If your account is overdrawn, you get until the end of the next business day to bring your balance back to positive and avoid the fee
• Overdraft Protection: You can link an eligible Wells Fargo savings or credit account to automatically cover shortfalls

Not all accounts include overdraft services. For example, the Clear Access Banking account has no overdraft fees at all, and transactions that exceed your balance are simply declined.

Wells Fargo comparison

Not sure if Wells Fargo is the right choice for your savings? Here’s how it stacks up against similar products from other major US banks. You can also click through on the provider links to see more details before deciding where to put your money.

Wells Fargo pros and cons

Wells Fargo is one of the largest banks in the US, with a wide network of branches and ATMs, as well as a full suite of financial products. That makes it convenient if you want everything in one place. But there are some trade-offs worth noting, especially if you’re after the best interest rates or lowest fees.

Pros

• Nationwide branch and ATM network for in-person service
• Wide range of accounts, loans, and investment products
• Digital banking tools, including a highly rated mobile app
• FDIC-insured accounts for peace of mind
• Special CD rates available for higher returns

Cons

• Standard savings APYs are lower than those of many online banks
• Monthly service fees on checking and savings accounts, unless waived
• Overdraft fees can still apply on some accounts
• Past reputational issues may be a concern for some customers

Frequently asked questions about Wells Fargo

Thinking about opening an account with Wells Fargo? Here are some of the most common questions people ask before deciding whether it’s the right fit.

Is Wells Fargo a good bank?

Wells Fargo is one of the “big four” banks in the US, with millions of customers and a wide branch network. It’s a solid choice if you value convenience and want access to everything from checking and savings to loans and investments.

That said, its standard savings rates are lower than many online banks, and monthly fees can apply unless waived.

What is the rating for Wells Fargo?

Wells Fargo receives mixed ratings across different platforms. On Trustpilot, customer feedback often highlights issues with fees, account management, or service.¹⁷

Meanwhile, NerdWallet gives Wells Fargo 3.8 out of 5 stars, pointing to its large branch network and wide product range, but noting that savings rates are low compared to online banks.¹⁸

Is Wells Fargo a safe bank?

Yes. Wells Fargo is FDIC insured, meaning deposits are protected up to $250,000 per depositor, per account category.¹⁹ The bank is also regulated in the US and offers security features like 24/7 fraud monitoring, Zero Liability protection on debit cards, and multi-factor authentication for digital banking.

Your money is safe, though it’s always smart to keep track of fees and account terms.

Choosing the right bank depends on what matters most to you. Wells Fargo is one of the biggest names in US banking, with a large branch network and a wide selection of accounts and services. That makes it a practical option if you value in-person support and want everything under one roof.

Use this Wells Fargo review as a starting point, and remember to compare it with modern alternatives like the Wise multi-currency account, which lets you send, spend, and receive money worldwide with low, transparent fees.

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Sources

1. Wells Fargo – In the United States, we proudly:
2. Wells Fargo – Clear Access Banking
3. Wells Fargo – Everyday Checking
4. Wells Fargo – Prime Checking
5. Wells Fargo – Premier Checking
6. Wells Fargo – Way2Save Savings
7. Wells Fargo – Platinum Savings
8. Wells Fargo – Certificate of Deposit
9. Wells Fargo – Overdraft Services
10. Bank of America – Account details and fees
11. Chase – Account Details Include:
12. Chase – Checking Accounts & Savings Accounts
13. Chime – High-Yield Savings Account
14. Citibank – Savings Accounts
15. PNC Bank – What You Need To Know:
16. TD Bank – TD Simple Savings
17. TrustPilot – Wells Fargo Rating
18. NerdWallet – Wells Fargo Rating
19. Wells Fargo – FDIC insurance

Sources checked 09/29/2025