Wells Fargo is a full-service financial institution offering several products to consumers, including mortgages, student loans, auto loans and credit cards. The bank also offers investing services and several account options, including checking accounts, for customers. Be sure to compare all your checking account options before making a decision about which one is right for you.
Benefits of Opening an Account
Wells Fargo checking account customers receive several benefits when they choose to open an account with this bank. They are listed on the institution’s website as follows:
Wells Fargo Mobile Banking
Allows customers to check their balances, pay bills and send money to family and friends using the bank’s mobile app.
Wells Fargo uses modern cybersecurity methods to provide 24/7 fraud monitoring and alerts.
Zero Liability Protection
The bank’s debit card privilege comes with zero liability protection. If a customer’s card is used for an unauthorized transaction, they will be reimbursed for that amount if the matter is reported right away.
Send and Receive Money to Anyone with a U.S. Bank Account
This handy feature allows you to send funds without the hassle of writing a check. You never have to reveal your account number, either.
Chip Technology for Debit Cards
Customers are protected against counterfeit fraud when they insert their chip-enabled debit card into a terminal.
Account Alerts to Protect Customers’ Accounts
These alerts notify customers about upcoming payments, recent deposits and low account balances. Customers can also set up other security alerts to notify them about suspicious sign-in activity.
Wells Fargo Checking Account Options
Listed below are Wells Fargo checking accounts to consider. Keep in mind your needs will change over time and an account that was right for you at one point may not be a good fit at another stage in your life.
This is Wells Fargo’s most popular checking account option. It is a good fit for customers looking for a convenient bank account, those with lower balances and college students.
- Minimum Opening Deposit: $25
- Monthly Service Fee: $10
The service fee is waived in the following circumstances:
- The main account holder is between the ages of 17-24
- A Campus Debit Card (for college students) or a Wells Fargo Campus ATM card is linked to the account
- Qualifying direct deposit of $500 or more (salary, Social Security, pension or other regular income)
- $500 minimum daily balance
Clear Access Banking
Wells Fargo’s “checkless” checking allows customers to bank without paper checks. This option is suited for customers aged 13-16 who have an adult co-owner, those who want to avoid overdraft and NSF (non-sufficient funds) fees and those who don’t need checks.
- $5 monthly fee
- Service fee waived for primary account customers aged 13-24
- Teens aged 13-17 must open an account in person. Customers over age 18 (19 in Alabama) have the option to open their accounts online.
This checking account pays interest on the balance.
Minimum Opening Deposit: $25
$15 monthly fee, which can be waived if:
- The account is linked to a Wells Fargo Mortgage
- Customer direct deposits $1,000 or more into account
- A minimum balance of $10,000 is maintained
$10 discount on personal checks
Portfolio by Wells Fargo
This is a premium bank account with 24/7 access to a dedicated banking team.
$25 minimum opening deposit
$30 monthly fee, which can be waived if:
- The customer has $25,000 or more in linked bank deposits
- A customer has $50,000 or more in linked bank, credit or brokerage balances
- Linked accounts receive preferred interest rates and fee waivers
Wells Fargo checking account options and fees may vary depending on where you live in the U.S. If you have questions about the bank’s checking account options or are looking for a branch near you, contact Wells Fargo directly.
Jodee Redmond is a freelance writer, blogger and editor who has been working full-time for over 15 years. She is a graduate of Centennial College and has worked as a tax consultant and a legal assistant. Her previous experience and boundless curiosity is a distinct advantage when writing about such varied topics as income tax, insurance, commercial property, business, construction, addiction, freelance writing and more.