Wells Fargo

Wells Fargo

 3.8/5 (1413 ratings)
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About Wells Fargo

Wells Fargo (NMLS #399801), one of the biggest financial services companies in the country, provides home purchase and refinance loans in all 50 states. You can check rates online and then apply online, over the phone or in person with a local mortgage consultant. Loan options with Wells Fargo include conventional and government-backed loans, as well as jumbo loans and loans for new construction properties. As of the publishing date, Wells Fargo has temporarily suspended applications for home equity lines of credit (HELOCs).

Overall Satisfaction Rating

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Pros

  • Free online banking and mobile app
  • Free money transfers
  • Large selection of financial products

Cons

  • Low interest rates on savings accounts

Bottom Line

Wells Fargo provides bank accounts, loans, retirement planning, investment services, credit cards and merchant services. It has more than 13,000 ATMs and 5,400 branches in 39 states.

Top Wells Fargo Reviews

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Rated with 5 stars
Verified

Wells has always been responsive to questions and issues, both online and through my local bank. Their fraud department is first rate. When my credit card was compromised, they re...

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Rated with 5 stars
Verified

These guys are the best banking institution we have ever worked with. They protect your account fiercely and provide you the tools to manage your money wisely. Additionally they h...

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What is Wells Fargo Bank?

Wells Fargo provides banking, investment and mortgage services as well as commercial and consumer financing at 7,600 locations in 32 countries and territories around the globe. Wells Fargo mobile banking gives customers the ability to link their checking, savings, credit card and investment accounts all in one place. Customers can also deposit checks from their phones with the Wells Fargo app.

Wells Fargo financial services

Wells Fargo offers multiple products and services, including checking, savings accounts, credit cards and loans.

Wells Fargo checking accounts
Wells Fargo has five different options for personal checking accounts — Everyday, Preferred, Portfolio, Teen and Opportunity. Businesses can select from Simple, Choice Platinum and Analyzed checking accounts. Most personal and business checking accounts require a $25 deposit to open.
Wells Fargo savings accounts and CDs
Wells Fargo offers two savings account options, Way2Save and Platinum Savings. Wells Fargo also offers CDs, which require at least a $2,500 minimum opening deposit. CDs are available at fixed rates and step rates.
Wells Fargo loans
Wells Fargo offers multiple loan types, including student loans, auto loans and mortgage loans to help you buy, refinance or renovate a home. The bank offers low-APR personal loans and lines of credit ranging from $3,000 to $100,000. Wells Fargo also provides loans and lines of credit for businesses.
Wells Fargo credit cards
Wells Fargo has several credit card options. Almost all Wells Fargo cards have a cash back or reward program, and a few have no annual fee.
Wells Fargo retirement services
Wells Fargo offers traditional and Roth IRAs. You can also invest in mutual funds and manage your portfolio yourself or with the help of a Wells Fargo investment professional. The WellsTrade Mutual Fund Screened Listed makes investing simple by pre-screening mutual funds. Wells Fargo Advisors, a full-service brokerage, is available to customers to help with investment planning. You can also invest directly online and automate your investing through the Wells Fargo Intuitive Investor.
Wells Fargo merchant services
Wells Fargo makes running a business easy with payment processing that allows you to accept card payments onsite, online or wherever you might be. Mobile payments are available for Apple Pay, Google Pay and Samsung Pay. Wells Fargo benefits for business owners also include Clover point-of-sale systems customized fit your business needs.

Wells Fargo Reviews

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How do I know I can trust these reviews about Wells Fargo?
How do I know I can trust these reviews about Wells Fargo?
  • 4,150,603 reviews on ConsumerAffairs are verified.
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Page 1 Reviews 0 - 10
Rated with 1 star
Verified Reviewer
Original review: Nov. 17, 2022

I'm in escrow and needed to do a couple of wire transfers -- one at the beginning of escrow and one at the end of escrow. I made the first wire transfer a month ago on advice of a Wells Fargo rep over the phone who advise me (which is why I called). The rep told me that when I need to make my final escrow transfer, I can do it the same way but it'll be easier the second time because the Escrow Bank account is all set up now. Well, tonight, 11/16/2022, I tried to do the final escrow deposit online and it would not go through -- the rep gave me bad information.

I called Wells Fargo, and Maria couldn't help me. Maria said banking nowadays is very difficult, said it's hard to get an appointment and some banks don't even answer their phones, etc. I asked for more help. She sent me to the escalation manager whose name is Olga. Olga was EXTREMELY RUDE to me over the phone. She spoke to me in a condescending manner and blamed me for the situation of me not being able to do the transfer, blamed me for the fact that she they couldn't get me a timely appointment at my branch. IT WAS SURREAL to say the least. I told her to stop talking down her nose to me in a condescending manner. She said she'll hang up on me if I yell. I said I'd stop yelling if she stopped talking down her nose to me. UNBELIEVABLE. First I'm given bad advice then I get the world's worst escalation manager who was only good at escalating one thing -- my blood pressure.

There are not enough words to convey how awful Olga spoke to me over the phone. Eventually, she hung up on me! Even after we found a way to speak to one another rationally she simply hung up on me -- which only solidified my thoughts that she's horrible and should not be a customer service rep. What is wrong with Wells Fargo that they hire someone like her? One can only wonder. I shut down Bank of America in 1990 for bad customer service and never looked back. Sorry to say I have to yet again remove a banking institution from my life. Needless to say, I will change banks.

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Rated with 1 star
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Verified Reviewer
Original review: Nov. 3, 2022

I warn against banking, or attempting, to bank at the branch On Indian School and Litchfield in Goodyear, AZ. Unprofessional, lacking knowledge, only 2 tellers, closes drive thru during the lunch hour!! Need to make an appointment, 2 weeks from now, to change name on a checking account, I was getting a fairly large sum of money and they said they would only give it to me in twenty dollar bills, as I would not pay a $10 cashier check fee as a customer of 15 years with significant money sitting in their bank, Called corporate. They were just as bad. Not one person could be identified to have authority to wave a $10.00 fee either at branch or corporate on phone. When I said I will call Corporate to get some help, ASST MANAGER said, Who is Corporate. I don’t know anyone named Corporate! Should have listened to congress to know what a horrible bank they are. Other comments seem to back this opinion.

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    Rated with 1 star
    Verified Reviewer
    Original review: Nov. 1, 2022

    I have been a customer of Wells Fargo for almost 15 years with checking and savings accounts, mortgages, LOC and Money Markets. I have a personal checking account, an MMA, personal savings, and two business checking accounts. Total funds are over $92,000. My accounts were seized on September 20th after a Wells Fargo banker and branch manager in Fort Pierce, FL decided I was engaging in fraudulent activity. I sent a wire on 9/16 and misspelled the name, so it was returned.

    I went back on 9/20 to send the funds to a different recipient working with the company I was investing with. The banker told me the routing number did not work, so I called the CEO of the company and got account information for another person on the project. I know the CEO of the company and I offered to invest in the project he and a group are doing in Europe. I was informed by the bank manager and banker that the wire was my responsibility and not covered for loss, and I agreed to that verbally 4 times. I said I would sign a document agreeing to that, since I know who I was sending the money to. At this point, the banker and manager went in the back office and came out after about 15-20 minutes. They informed me the routing number actually did work for the second recipient, but that the third recipient is a dead person.

    The third recipient was on the phone with the CEO to provide the account information and was very much alive. They told me they suspect me of fraudulent activity such as money laundering and would not accept that the funds in my account came from a sale of property, even though I deposited the check at their branch. By the time I got home, all five of my accounts were frozen. I could not pay my staff or vendors, nor pay my mortgage and bills. My accounts that were frozen on 9/20 were supposed to close on 10/4. I was notified late on 9/30 that closure was delayed to 10/18. Late on 10/14 I received notice that the closure was delayed to 11/1. I did not get an email on 10/28, but got it late on 10/31 that the closure on all accounts is delayed again from 11/1 until 11/15.

    All five accounts are being held hostage, with notification specifying "We are waiting for a bank to request a return of deposit to this account". There is NO deposit to return, the last deposit on 9/13 was a check of proceeds from the sale of one of my properties. The sale of the property and parties involved can be confirmed online in five minutes. A Suspicious Activity Report has also been filed on me. I cannot open new accounts, I cannot pay some of my bills, and this is a nightmare. There just cannot be a legal reason for Wells Fargo to continue to hold all of my money and destroy my credit.

    I had to borrow $15,000 and drain all my other savings to keep my company going, pay my staff and pay my bills. Wells Fargo is holding hostage over $92,000 of my operating and personal capital. No-one will discuss anything with me or tell me why or what is happening...or when it will end. I am over 60 years old, and this is crippling my business and my life. I have never participated in fraudulent activity; I am a small business owner for 38 years and invest in real estate on the side.

    2 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Oct. 19, 2022

    My experience with this department started in April 2021 when I filed a claim for fraudulent activity on my account. The claim itself was originally denied for reasons unknown. Of course I kept pushing Wells Fargo because this yes in fact it was fraudulent and it took four months which was in August 2021 for them to actually do anything about it. At which point I received a partial credit into my account and Wells Fargo‘s reason for a partial credit was due to them only being able to do a partial amount due to a certain timeframe. Since August 2021 I have been pushing Wells Fargo and asking questions to which they did not answer until today. So yes I’ll save you from doing the math. Total time from when it started until today is roughly 18 months.

    I have been passed around to a total of 40+ “Case specialist.” Yes I put case specialist in quotes because I’m not sure if you can even call them case specialists. The reason I say that is because on numerous occasions I was lied to and given incorrect information regarding my case. On one occasion I was told by this “case specialist" quote that the reason my claim was denied was because I did not file the paperwork within a certain timeframe. At this point I’m confused because I know I did everything that I was told to do by Wells Fargo, so I’ve been asked this “case specialist“ what that timeframe was and he told me 60 days. At this point I’m fuming because I know for a fact that I filed the correct paperwork within that timeframe and then I explain this to him. At which point his entitled attitude seem to have disappeared and he got quiet.

    After that he told me that he was going to escalate it and then give me a call back within 10 days. That call never happened. It took me finally getting a hold of what was his supervisor and being told that he was on vacation. Numerous times that I have called and spoken to someone I’ll need to be passed around to somebody new again over 40 times and which being provided inaccurate information. Until today which again 18 months later I spoke to a representative that told me even though I’ve been lied to and given all kinds of inaccurate information especially over this past year that my claim is still denied. I didn’t pointed out the fact that numerous employees have violated your own code of ethics on a number of different occasions and the only response from her was, "I’m sorry."

    My advice to anyone would be to get away from this bank because it’s Full of dishonest people who have no clue what they are doing. I pointed out specific parts of their code of ethics that state that if Wells Fargo does make a mistake they will acknowledge the mistake and take action to fix it. They never did that. It also states that they earn their customers trust with honesty and integrity. In one specific email I even put in the definitions of both. And still nothing. The only thing they are doing is sweeping this under the rug.

    What I am doing is letting the world know my experience and the hell that I have been through for the past 18 months in dealing with this. So again my advice to you would be if you are associated with this company at all you need to run away from it as fast as you can. I can assure you that anybody and everybody that I know that currently has any kind of business with Wells Fargo will know the hell that I’ve been through over the past 18 months and Wells Fargo will lose their business.

    2 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Oct. 7, 2022

    I made a purchase for a pair of sneakers for my daughter for school on a website that I was unfamiliar with. It was the only site I could find the sneakers on. I entered my banking information and selected process to continue on with the order. The screen went dark and I waited and waited and I was never given an order number nor did I receive a confirmation email. Weeks later, I still never received the sneakers. I quickly checked my banking information and saw that I was in fact charged. I instantly called the bank and informed them of what was going on. They credited my account.

    Approximately a month later, I received a letter that they reversed the charges and charged me completely for this particular incident that I reported to them. When I contacted the bank, I was told that the company provided information that documented the transaction. I quickly was shocked because I didn’t see how that was possible. Bank provided me with a phone number to the company which I have called multiple times, and always receive a busy signal. I did go to the bank. However I was refused my money back. It was $130 that I did not spend. Disgusted.

    3 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Oct. 3, 2022

    I have a savings account with over $110,000. I'm only receiving an interest rate credit/deposit of .91 cents! That is nowhere near the .01% Wells Fargo "claims" they pay. It is actually closer to .00001%. (which would be $1.10). My other Wells Fargo savings account has had a balance of $1,000 for well over a year, and only receives .01 cent monthly. A Class Action lawsuit should be filed against Wells Fargo for screwing their savings account holders on interest payments made to their savings accounts! I am sure they screw over tens of thousands of the customers, and should be forced to pay what they say they do. I am leaving this sham bank ASAP!

    5 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Sept. 21, 2022

    I found a small business this bank is continuously back stacked and removed deposits. Nothing causing excessive overdraft fees when I call to prove I'm wrong all they do is stand by what their computer says which is then audited by a human and they admit that. Last week I got one agent to finally listen to me and do some math she was able to magically delete overdraft fees not credit then literally delete them unfortunately for them I was able to record them this Bank needs to be shut down.

    7 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Sept. 14, 2022

    I am disgusted and appalled at Wells Fargo. I got scammed about a rental and I called immediately to file a claim and let them know so they can flag the receiver's account and help me retrieve my money. These are hard times and people are getting scammed left and right. So out of $3900 I was they initially reversed $2400. I was happy that I was able to get SOMETHING back, considering they supposedly have security systems and so called "fraud dept." but it's all a sham. They don't give two **.

    Today I checked my bank and they reversed the credit and put me in a HUGE OVERDRAFT, WITHOUT NOTIFICATION ON TOP OF IT!!! Want to tell me basically that it's not their problem that Zelle or Cashapp sent the money. (I didn't expect them to do much about cashapp- but at least flag the reported account) The fraud department is USELESS AND COMPLETELY POINTLESS.

    I've lost complete faith in wells fargo and I am switching bank. They don't care about their clients and I am for sure switching to another bank. It's not the first time they've pretty done whatever they want with your account but can't help you when you have a REAL problem. I've given them a chance considering it's not the first time they've either screwed me or caused me inconvenience, but I stayed with them. BIGGEST MISTAKE OF MY life! Switch banks while you can. Flag the receiving account and/ or provide me their information so I can bring the additional information to the police. But they won’t even investigate the frauds account. OR credit my account back the 2400 it was credited! I was content and it made me feel like my bank cared at least.

    3 people found this review helpful
    Rated with 4 stars
    Verified Reviewer
    Original review: Sept. 6, 2022

    Very good bank with full service. Home loans, currency exchange, has a brokerage service in the area. Lots of online services too plus Zelle.. Always good customer service both in Gulfport and Beauvoir branch. I have done business with them since living in NC in 2006. My only complaint is they are not closer to us in Hancock County nor in La. There is a very nice former Hancock Whitney bank building for sale on 90 in Hancock that I wish Wells Fargo would buy! I use their checking savings and IRA for at least 16 years now. Always respectful service by phone and in branches. I like their presence in many places I travel to.

    2 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Sept. 4, 2022

    I stayed with them when they dealt with the fraud situation around 2012, after they stole money from all of their clients and enrolled them in fraudulent insurance scams (which was honestly the first red flag). I stayed with them after I noticed they overcharged my card with fees that did that apply multiple times (the second red flag). However, today, I finally just closed my accounts. I was on the phone with them for an hour trying to see how my card got connected to ApplePay, and after being transferred 5 times, the last person I spoke to who was supposed to be a Manager of some sort, hung up on me. Final straw. Can't trust them with my money or the security of it. After 10 years of service with them, will never come back.

    7 people found this review helpful
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    Wells Fargo fees

    Wells Fargo’s monthly service fees for checking accounts range from $0 to $30, though service fees are waived for teenagers and college students between 17 to 24 years old. Monthly service fees for business checking accounts range from $10 to $40. The bank charges a $5 or $12 monthly fee on savings accounts. Wells Fargo's checking account fees can be avoided by maintaining a specific average balance or completing a minimum number of transactions each month. Also, expect fees for late credit card payments and overdraft charges unless your checking and savings accounts are linked.

    Wells Fargo check cashing fee
    You only have to pay a Wells Fargo Bank fee to cash a check if you don’t have an account. The cost for nonmembers to cash a check at a Wells Fargo bank is $7.50.
    Wells Fargo transfer fee
    It costs $0 to transfer money between Wells Fargo accounts or for bank-to-bank transfer service.
    Wells Fargo overdraft fee
    Wells Fargo charges a $35 overdraft fee per item.
    Wells Fargo ATM fee
    ATM fees are $0 for Wells Fargo customers when they use a Wells Fargo ATM. Cash withdrawals at non-Wells Fargo ATMs are $2.50 each, and account balance inquiries are $2 each.
    Wells Fargo foreign transaction fee
    Wells Fargo’s foreign transaction fees reach up to 3% on some accounts. Outside of the U.S., ATM cash withdrawals are $5 each and ATM accounts transfers are $2 per transfer.
    Wells Fargo cash advance fee
    Wells Fargo’s cash advance fees are up to $12.50 per transaction. Credit advances vary based on the account.

    Wells Fargo Bank FAQ

    Does Wells Fargo have 24/7 customer service?

    Yes, Wells Fargo has 24/7 customer service available by phone and online.

    Is Wells Fargo a commercial bank?

    Yes, Wells Fargo provides commercial banking services and products for individuals and businesses.

    What states have Wells Fargo banks?

    Wells Fargo has locations throughout the U.S. in all states except Hawaii, Oklahoma, Missouri, Michigan, Indiana, Ohio, Kentucky, West Virginia, Louisiana, Vermont, New Hampshire, Massasschetts, Rhode Island and Maine.

    What are Wells Fargo’s dealer services?

    Wells Fargo’s dealer services provide indirect auto financing, commercial products and banking services to auto dealers.

    How old do you have to be to open a bank account at Wells Fargo?

    You can open a Wells Fargo account with a parent or guardian at 13 years old. You must be at least 18 years old to open an account on your own.

    Is Wells Fargo a good bank?

    Wells Fargo offers many options to handle your financial needs, including checking and savings accounts, credit cards, investments and loans. Compared to other banks, interest rates and fees are average. Overall, Wells Fargo’s products and services are robust and allow you the convenience to bank however and wherever you like.

    Wells Fargo Company Information

    Company Name:
    Wells Fargo
    Year Founded:
    1852
    Address:
    420 Montgomery Street
    City:
    San Francisco
    State/Province:
    CA
    Postal Code:
    94104
    Country:
    United States
    Website:
    www.wellsfargo.com