Wells Fargo Banking Maybe Best! – Money Pacers
Wells Fargo Banking Maybe Best!

Wells Fargo Banking Maybe Best!

Wells Fargo Bank Reviews

Banking (MP) Wells Fargo bank was founded in 1852 and is today headquartered in San Francisco, CA. The bank is a multinational banking and financial services holding company which operates 6,348 branches in 41 states and around the world.

Wells Fargo is the fourth largest bank in the U.S. by assets and the second largest bank in deposits, home mortgage services, and debit cards. In 2011, Wells Fargo was the 23rd largest company in the United States.

Wells Fargo Bank Review


The bank has three checking account systems: “Value, At Work and Everyday.” Their top checking account (the Value account) from Wells Fargo offers no annual percentage yield (APY).

Monthly Fees: A monthly fee of $9 with the Value account is just a bit less than market average. Maintaining the required minimum balance will waive this fee, but if you fail to do so your costs will be minimal.

ATM Fees: Wells Fargo charges a $2.50 fee when using another bank’s ATM, which is comparatively high given that the average fee is about $2.


There are two saving accounts: Way2Save and High Yield.

Interest Rates

The top savings account (the Way2Save Savings account) has an APY (annual percentage yield) of 0.01%, which falls below the national average rate of 0.15%. Research a bank that offers a high yield savings account.
Monthly Fees

The monthly fee for the Way2Save Savings account is just a bit less than market average. Maintaining the required minimum balance will waive this fee, but if you fail to do so your costs will be minimal.
Minimum Balance Requirement

The minimum balance requirement of $300 is not particularly high relative to other savings accounts. At any rate, be sure you can meet the minimum.

CD Interest Rates

Interest Rates

Here are a few different CD rates from Wells Fargo. The 1 year option has a significantly below-average yield compared to the national average of 0.35%. Browse high yield CDs from other financial institutions to find one with a better return. Also there is a minimum $1,000 deposit on Certificate of Deposit accounts.

Credit Cards

Wells Fargo’s top three credit cards are: Rewards Rewards (14.15% APR), Propel 365 Rewards (13.99% APR), and Cash Back Rewards (13.15% APR).

Interest Rates (APR)

Take a look at the APR (annual percentage rate) for Wells Fargo’s highest rated cards shown above. Most issuers offer credit cards with interest rates between 14.99% and 21.99%.


The annual fee is similar to a membership fee. Cards with a higher fee may offer extra perks such as attractive rewards or bonuses. Most card issuers charge an annual fee around $36.

Mortgage Services


Wells Fargo offers competitive rates and good customer service.


Hybrid mortgages are not available.

The Verdict: 4.3/5

Wells Fargo is one that we recommend if you need a mortgage or want to refinance an existing mortgage. You can sign up for an Wells Fargo account today!

Customer Satisfaction

Since 2011, Wells Fargo has received a total of 29,348 complaints from customers who have submitted issues to the Consumer Finance Protection Bureau.

Don Briscoe
Follow me

Don Briscoe

Finance educator, advisor, and leading voice in the global financial literacy movement.Founder and editor of MoneyPacers.com.He lives and enjoys life with his family in New York.
Don Briscoe
Follow me

Latest posts by Don Briscoe (see all)

Leave a Reply

Your email address will not be published. Required fields are marked *


April 2015
« Mar   May »
Join 75,674 Money Pacers
Fast Track Your Way To Wealth!
We respect your privacy. We never share your email.