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Wells Fargo Checking Accounts Review


Rating: 6.9 / 10 (Very good)
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Founded in 1852, Wells Fargo & Company is an American multinational financial services company that provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company serves clients through approximately 8,300 locations and 13,000 ATMs. In addition, Wells Fargo offers online and mobile banking to clients in 42 countries.

How is Wells Fargo rated?

Breakdown

9/10
Account Characteristics
6/10
Company Reputation
5/10
Customer Experience

Overall Rating: 6.9 / 10 (Very good)

Wells Fargo offers a great variety of financial services. The company's account rates and fees are average but its huge network of branches and ATMs make it a convenient choice for many. Also, the bank offers a competitive sign-up bonus for new checking accounts. On the downside, customers must be aware of the company's recent history of misleading customer information and should be diligent about checking their monthly statements.

Wells Fargo Account Characteristics

Account Characteristics - 8.5 / 10

Wells Fargo offers 5 types of checking accounts: Everyday Checking, Preferred Checking, Portfolio by Wells Fargo, Teen Checking, and Opportunity Checking. Everyday Checking is their most popular account and offers many options to avoid the monthly service fee. All five checking accounts offer free mobile and online banking plus access to over 13,000 Wells Fargo ATMs. In addition, Wellsfargo.com provides a checking account guide where customers can compare and learn more about the different checking accounts.

Requirements

Requirements
Social Security Number
Email
Picture ID
Valid U.S Address
Minimum Balance
1,500.0
Fees
Overdraft
ATM fees
Low balance

Online at a glance

Online Features
Mobile Deposit
Bill Pay
Mobile App
Digital Wallet
Google Pay
Apple Pay
Samsung Pay
Security Measures
Encryption & Browser Requirements From the moment account information leaves your computer to the time it enters Wells Fargo's system, all online and mobile banking sessions are encrypted. We employ strong encryption software to help protect your accounts. Wells Fargo also only supports browsers that adhere to our high encryption standards. We may block outdated browsers that could possibly lead to a security risk so be sure to keep your browsers up to date. The presence of a "closed lock" icon in your browser indicates encryption is being used on the webpage you are viewing. In addition, an internet address that begins with "https://..." indicates the page you are viewing uses encryption. The "s" stands for "secured." Automatic Log Off Wells Fargo will automatically log you off from your online or mobile banking session after a period of inactivity. This reduces the risk of others accessing your information from your unattended computer or mobile device. For your security, always log off manually when leaving your device unattended. Ongoing Monitoring We have additional security measures that may be activated in response to certain activities or events through our ongoing monitoring efforts. If your online behavior looks out of the ordinary from your usual activities, we may restrict account access or prevent certain types of transactions. These measures help safeguard your personal and account information. Further proof of identity may be required before online access is restored. Online Security Guarantee In addition, under federal law, Regulation E (Electronic Fund Transfer Act) provides certain protections to consumer customers when there is unauthorized account activity. Regulation E covers electronic fund transfer activity through a checking, savings, or other consumer asset account at a financial institution used primarily for personal, family, or household purposes. All of the protections provided by Regulation E are incorporated into our Online Security Guarantee. In addition, our Online Security Guarantee expands these protections to cover other types of unauthorized transactions, including certain business and brokerage monetary transactions as described above.

Additional Services

Loans
Auto
Home
Personal
Credit Line
Additional Services
Credit Score Tracker
Monthly Charge Waiver
Direct Deposit

Wells Fargo Company Reputation

Company Reputation - 6 / 10

Even though Wells Fargo is one of three of the country's largest banking companies, its reputation plummeted abruptly since the September 8, 2016 scandal, which involved the bank opening an enormous number of unauthorized retail, deposit, and checking accounts. The company is currently hard at work trying to rebuild its reputation, but we advise customers (old and new) to check their accounts and set up alerts for cards and accounts.

Ratings at a glance

BauerFinancial Star Rating
5 Star
Moody's Financial Rating
A2

Consumer Feedback

FDIC Member
Nationwide Mortgage Licensing System ID
399801
The Nationwide Mortgage Regulatory Actions
7
Consumer Financial Protection Bureau Complaints
2,558
Collection Date
2018-04-27

Wells Fargo Customer Experience

Customer Experience - 5 / 10

Wells Fargo may be the fourth biggest bank in the US, but consumers are not happy with the revelation of a huge sales-practice scandal in September 2016. In response, the company has begun offering $250 to customers who open a Wells Fargo Everyday Checking Account and meet a simple deposit or spending requirement. However, new customers should be diligent about checking their monthly statements. Due to this scandal, Wells Fargo is no longer accredited by the Better Business Administration.

At a glance

Customer Assistance
24-hour Call Back
24/7 Support
Business Hours
Email
Phone
Physical Location
Yes
ATM Network
Wells Fargo offers 13,000 ATMs and more than 6,000 retail banking branches coast to coast.

Company Profile

Full Name
Wells Fargo Checking Accounts
Company Website
Headquarters
420 Montgomery Street, San Francisco, CA, 94163

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Top Rated
9.8 / 10
  • 24/7 live customer representative phone support
  • No minimum balance, no fees
  • Use any ATM, $10/month fee reimbursement
  • No fee at 43,000+ nationwide Allpoint ATMs 
  • Interest earning checking account
  • No fees for checks or debit card
  • Mobile banking app available on iOS, Android, and Windows Phone