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Wells Fargo Flex small personal loans: 2023 Review

Updated on November 7, 2023
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At a glance

Rating: 4.9 stars out of 5
Bankrate Score
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Rating: 5 stars out of 5
Rating: 4.6 stars out of 5
Customer Experience
Rating: 4.8 stars out of 5
Rating: 5 stars out of 5

About Bankrate Score

Founded in 1852, Wells Fargo is a traditional banking institution that offers personal banking solutions and personal loans, among other financial services. The lender offers a new loan option with its Flex Loan. The Wells Fargo Flex loan gives current customers an easy way to access small amounts of cash. 

Loan amount $250 or $500
APR from Flat fee of $12 for a $250 loan and $20 for a $500 loan
Clock Wait
Term lengths 4 months

Borrowers needing a small loan. 

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Best for borrowers needing a small loan

Wells Fargo Flex Loans are perfect for borrowers who need a small amount of cash quickly. The personal loan won’t fit the needs of every borrower, but they do help Wells Fargo customers who are low on cash fill in the gaps. 

The Flex Loan gives borrowers a loan of $250 or $500 in a quick and easy way. Interested borrowers can check if they have an offer for the loan in their Wells Fargo app and get funds within seconds. The loan can be repaid in four monthly payments, meaning customers won’t have to be inconvenienced for long. The Wells Fargo Flex Loan can be just the right amount of cash to help borrowers make it until payday if they need some cash right now.

Wells Fargo pros and cons


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    Flat fee for loan.

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    Small amounts available.

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    No application necessary.


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    Only available to Wells Fargo customers.

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    Only two loan amounts available.

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    Must have the mobile app.

Do you qualify?

The Wells Fargo Flex Loan is different from a lot of other personal loans. There is no application required for the loan. There is also no minimum credit score specified for the loan. 

Flex Loans are available to existing Wells Fargo customers. As with other Wells Fargo personal loan products, you must be a customer with Wells Fargo for at least 12 months to be eligible for a Flex Loan. 

If you qualify for the Flex Loan, the offer will show up in your Wells Fargo app. You can check for the offer by going to the Explore tab in your app. Eligible customers will see the Flex Loan listed under personal loan options there. 

While the lender doesn’t specify what factors impact who qualifies for the loan, they likely offer it to loyal Wells Fargo customers with good credit and spending habits. Practicing good spending habits, like making payments on time, could help you qualify for the Flex Loan. 

What Wells Fargo doesn’t allow funds to be used for

As the name implies, the Flex Loan is flexible. There are no restrictions given on how funds can be used. 

How this lender compares

Rating: 4.9 stars out of 5
Bankrate Score
APR from
Flat fee of $12 for a $250 loan and $20 for a $500 loan
Loan Amount
$250 or $500
Term Length
4 months
Min Credit Score
Not disclosed
Rating: 4.6 stars out of 5
Bankrate Score
APR from
8.99% – 35.99%
Loan Amount
$2,000 – $50,000
Term Length
36 to 60 months
Min Credit Score
Rating: 4.8 stars out of 5
Bankrate Score
APR from
Loan Amount
Term Length
24 to 84 months
Min Credit Score

Wells Fargo Flex Loan vs. Upstart

Upstart is an online lender offering personal loans. Their loan amounts aren’t as small as the Wells Fargo Flex Loan, but borrowers can get loans as small as $1,000. However, the borrowing minimum may be higher in some states. 

Read a full review about Upstart

Wells Fargo Flex Loan vs. PenFed Credit Union

PenFed Credit Union offers personal loans with minimal fees. Loan amounts start as low as $600, so the lender can be another good place to look if you don’t want a large loan amount. Similar to Wells Fargo, borrowers must become a member of the credit union before they can apply for a personal loan. 

Read a full review about PenFed Credit Union

Wells Fargo Flex: in the details

What we like and what we don’t like

The Flex Loan from Wells Fargo is great if you need a small amount of cash quickly, but it won’t work for everyone. 

What we like

  • Flat fee for loan: You don’t have to worry about interest rates or hidden fees. Wells Fargo charges a flat fee for both loan amount options. The fee is $12 for a $250 loan and $20 for a $500 loan. 
  • Small amounts available: Most personal loans have a loan amount minimum of at least $500, but sometimes you just need a little bit of cash. The Flex Loan gives the option to get a simple loan for a small amount. 
  • No application necessary: To get a Flex Loan, you don’t have to submit an application. All you have to do is check your Wells Fargo app to see if you qualify. This means no hard credit check to get the loan. 

What we don’t like

  • Only available to Wells Fargo customers: You have to be a Wells Fargo customer for at least 12 months to get a Flex Loan. 
  • Only two loan amounts available: Loan amounts for the Wells Fargo Flex Loan aren’t customizable. You must choose from one of two amounts they offer. 
  • Must have the mobile app: The loan is a digital-only loan. You must have the Wells Fargo app to check if you are eligible. 

How to contact Wells Fargo

Wells Fargo gives customers a number of ways to get in touch. They have several contact numbers, so make sure you have the right number for what you need. To apply for a personal loan, call 1-877-526-6332 Monday through Friday 8 a.m. to 7 p.m. CT. General banking questions can be directed to 1-800-869-3557 24 hours a day, seven days a week. 

You can also get customer service support seven days a week by reaching out through social media. Wells Fargo is on Twitter and Facebook.

How to apply for a personal loan with Wells Fargo

There is no application for the Wells Fargo Flex Loan. Current Wells Fargo customers can check if they are eligible for the loan by looking for the option in their Wells Fargo app. 

If a customer accepts the loan, they will need to set up their repayment plan. Once they do this, the loan amount will be available within seconds. They can use their Wells Fargo debit card to access the funds.

Wells Fargo features and additional perks

In addition to the Flex Loan, Wells Fargo has a number of other features and perks available to help with short-term cash needs. Their Early Pay Day Program gives customers access to certain direct deposit funds up to two days early. The bank also gives an extra day grace period for customers to deposit funds to avoid overdraft fees.

Fees and penalties

One of the great things about the Wells Fargo Flex Loan is there is only one flat fee. The loan doesn’t have any late fees, interest charges or other hidden fees.

Wells Fargo frequently asked questions

How Bankrate rates Wells Fargo

Overall Score 4.9 Explanation
Availability 5.0 Only available to Wells Fargo customers.
Affordability 4.6 With minimal fees, the Wells Fargo Flex loan is easily accessible.
Customer Experience 4.8 Wells Fargo customers will be able to access support online and over the phone.
Transparency 5.0 All fees and requirements are outlined online.


To select the top personal loan lenders, Bankrate considers 20 factors. These factors include credit requirements, APR ranges, fees, loan amounts and flexibility to account for a wide range of credit profiles and budgets. Bankrate reviewed over 30 lenders and gave each a Bankrate rating, which consists of four categories:

  • Availability: What the minimum loan amounts are, its eligibility requirements and loan turnaround are considered in this category.
  • Affordability: The interest rates, penalties and fees are measured in this section of the score. Lower rates and fees and fewer potential penalties result in a higher score.
  • Customer experience: This category covers customer service hours, if online applications are available, online account access and mobile apps.
  • Transparency: This category is measured by how accessible credit requirements, rates and fees are on the lender's page. We also took into account whether prequalification was available, as all these factors are key for consumers to make an informed decision.

Editorial disclosure: All reviews are prepared by staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.