Wells Fargo Bank Review 2025

Wells Fargo is one of the biggest banks with locations in 36 states and the District of Columbia. But the bank has also faced heavy scrutiny by regulators in recent years for opening fake accounts and other offenses. While you won’t find attractive yields here, Wells Fargo’s checking account scores highly in our analysis.

Wells Fargo bank products

Wells Fargo Way2Save Savings Account

Wells Fargo offers two savings accounts: Way2Save and Platinum Savings. This review covers the former. Wells Fargo’s Way2Save savings account has a $25 initial deposit requirement and a $5 monthly service fee. A few ways to avoid the fee are by:

• Keeping at least $300 in this savings account.
• Having one recurring transfer of at least $25 from your Wells Fargo checking account automatically transferred into your Way2Save Savings account.
• Being under 25 years old and the primary person on the account.

Some helpful savings tools are built into the account, including one that automatically transfers $1 into savings whenever you make a debit purchase. 

The account’s APY is below the national average and well below the best rates offered by other banks. And while there are ways to avoid the monthly service fee, many online banks don't charge one to begin with.

Rate history for Wells Fargo's Savings account

Wells Fargo CDs

Wells Fargo offers three standard CD terms online — three, six and 12 months. All carry a minimum deposit requirement of $2,500. The APYs on the special CDs are solid, but you can easily find higher yields elsewhere that don't require the special's high minimum deposit of $5,000. All CDs, both standard and special, have an early withdrawal penalty of three months’ worth of interest.

Rate history for Wells Fargo's CD accounts

Wells Fargo Platinum Savings Account

Despite having savings in its name, we see Wells Fargo’s Platinum Savings has the check-writing privileges of a money market account. So, we’ve reviewed this account as a money market account.

Yields are low, but you can earn a higher yield by linking the account to a Premier Checking account. The APY increases by tier, with the highest APY offered on balances of $1 million or more. Even so, the yield is still comparatively low.

Wells Fargo Everyday Checking Account

Wells Fargo has four checking accounts to choose from. We reviewed the Everyday Checking account. Wells Fargo’s Everyday Checking account requires $25 to open. There’s a $10 monthly maintenance fee, but it can be waived numerous ways. You can also waive the monthly fee by:

• Maintaining a $500 minimum daily balance.
• Having at least $500 in qualifying direct deposits during the statement cycle.
• Being between ages 17 and 24 as the primary account holder.

While many banks have eliminated or reduced their overdraft fees, the Everyday Checking account still charges a $35 overdraft fee — higher than the industry average.

Compare different account types offered by Wells Fargo. Annual percentage yields (APYs) shown were updated between Oct. 31, 2025 and Nov. 6, 2025.

Customer support

Physical presence. Wells Fargo has locations across 36 states and the District of Columbia, allowing customers to take advantage of in-person banking in most states. There are also plenty of ATM locations, with more than 10,000 ATMs across the country.

Customer service. Wells Fargo offers 24/7 support over the phone. You can also connect with agents using live chat on its website and social media.

Low customer satisfaction. Wells Fargo scores below average in overall customer satisfaction, according to J.D. Power’s 2025 U.S. Retail Banking Satisfaction Study. Of note, the bank scored last among other big banks in the Northwest region and the New York Tri-State area for the second year in a row. 

Digital experience

Highly rated mobile app. The Wells Fargo mobile app has high reviews from users on the Apple App Store and the Google Play Store. In addition to helpful budgeting tools, debt-to-income reports and spending reports, the app makes it easy to deposit checks, retrieve your monthly FICO score, and send money through Zelle. Wells Fargo’s app lets you send money to non-Wells Fargo accounts easily — you can add external accounts right on the app. 

Fee notifications. Wells Fargo’s app doesn’t notify you when you’ll be charged a monthly fee. “Once, my savings account dipped below the minimum threshold to avoid the monthly account fee,” said a Bankrate staff member who uses Wells Fargo personally. “There was no notification that the account balance was lower than necessary to avoid the fee, which would’ve been helpful to know given it’s difficult to remember what fee rules are. 

The above images were last updated on April 17, 2024.

Complaints

CFPB enforcement action. In 2022, Wells Fargo was fined $1.7 billion by the Consumer Financial Protection Bureau. Among other acts, the CFPB found that Wells Fargo “unfairly froze multiple consumer accounts in instances of suspected fraud when lesser restraints were available; made deceptive claims as to the availability of waivers of monthly service fees; and unfairly charged overdraft fees even if the consumer had enough funds available in their account to cover the amount of the transaction at the time they made it.” In addition to the fine, Wells Fargo was ordered to pay more than $2 billion in redress. 

Disclosure: To enhance our product reviews, Bankrate employees often open accounts and provide feedback. They may have been compensated for their time and account maintenance, but this does not affect the integrity of their review.