Wells Fargo account full review
You will find four checking account options available at Wells Fargo, each tailored to cater to your unique financial requirements.
Discover the Advantages of a Wells Fargo Account
Wells Fargo, headquartered in San Francisco, California, is a leading multinational financial services company that offers a wide range of banking and financial solutions. Their services include personal banking, business banking, investment services, and insurance.
Established in 1852, Wells Fargo currently operates more than 7,000 branches and 13,000 ATMs across the United States. With its reputation as one of the largest banks in the US and as one of the most valuable brands globally, Wells Fargo has become a trusted choice for individuals and businesses alike.
When selecting a checking account from Wells Fargo, you will have four options to choose from. To make an informed decision, it’s essential to carefully compare the features and benefits of each account, considering factors such as fees, minimum balance requirements, ATM access, and overdraft protection.
The Benefits of a Wells Fargo Account
Although the four Wells Fargo accounts share some similarities, each one also offers distinct advantages. Let’s explore each account:
1. Clear Access Banking
If you need help with money management, particularly for teens and students, Clear Access Banking is an excellent choice. This account offers checkless banking and eliminates overdraft fees. While there is a $5 monthly service fee, there is one way to avoid the fee during each fee period. Available for individuals aged 13 or older, this checking account doesn’t earn interest and only permits deposits. It also charges a 3% transaction fee for international debit card purchases.
2. Everyday Checking
Everyday Checking provides the most flexible banking options, including check writing and digital payments, making it ideal for college-age students. The account has a $10 monthly service fee, but there are several ways to avoid it, such as maintaining a minimum daily balance of $500, having $500 or more in total qualifying direct deposits, being between the ages of 17 and 24, or linking it to a Wells Fargo Campus ATM Card or Campus Debit Card. Similar to Clear Access Banking, Everyday Checking does not accrue interest and charges a 3% fee for international debit card purchases.
3. Prime Checking
Prime Checking offers discounts on various banking services, including ATM fee waivers and interest rate reductions on select new loans. However, the monthly fee for this account is higher at $25. To avoid the fee each fee period, you must maintain $20,000 or more in statement-ending qualifying linked balances. Prime Checking requires applicants to be 18 years or older (19 in Alaska). The account is interest-bearing and doesn’t charge fees for Wells Fargo Personal Wallet Checks. Additionally, non-Wells Fargo ATM withdrawals outside the U.S. are free of charge. The 3% international debit card purchase transaction fee is the same as the previous accounts.
4. Premier Checking
Premier Checking offers benefits and discounts at the highest level of relationship banking, accompanied by 24/7 support from a Premier service team. This account has a monthly cost of $35, which can be avoided by maintaining a minimum balance of $250,000 in qualifying linked accounts at the end of each statement period. Premier Checking is an interest-bearing account that doesn’t charge fees for Wells Fargo Personal Wallet Checks or international debit card purchase transactions. Notably, it provides unlimited reimbursements for non-Wells Fargo ATM fees and offers free domestic outgoing wire transfers. To open a Premier Checking account, you must be 18 years or older (19 in Alaska).
How to Apply for a Wells Fargo Account
To take the next step towards opening a Wells Fargo account, click the green button below. This will guide you through the application process and provide you with the necessary requirements set by the bank.
