Wells Fargo Bank Review 2024 (2024)

Personal Finance Banking Savings

Written by Sophia Acevedo; edited by Laura Grace Tarpley; reviewed by Evelyn He

Updated

  • Overall Bank Rating
  • Pros and Cons
  • About Wells Fargo
  • Banking
  • Investing
  • Mortgages
  • Personal Credit Cards
  • Personal Loans
  • How Wells Fargo Banking Compares

Affiliate links for the products on this page are from partners that compensate us and terms apply to offers listed (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate banking products to write unbiased product reviews.

The information for the following product(s) has been collected independently by Business Insider: Wells Fargo Attune℠ Card. The details for these products have not been reviewed or provided by the issuer.

How Wells Fargo bank accounts compare

  • Wells Fargo Bank Review 2024 (1)

    Wells Fargo Way2Save® Savings Account

  • Wells Fargo Bank Review 2024 (2)

    Wells Fargo Everyday Checking Account

  • Wells Fargo Bank Review 2024 (3)

    Wells Fargo Standard Fixed Rate CD

Editor's Rating

2.5/5

Annual Percentage Yield (APY)

0.01%

Minimum Deposit

$25

Editor's Rating

3.25/5

Annual Percentage Yield (APY)

None

Minimum Deposit

$25

Editor's Rating

2.25/5

Annual Percentage Yield (APY)

1.50% to 4.51%

Minimum Deposit

$2,500

Start saving

On Wells Fargo's website

Start banking

Wells Fargo, FDIC Insured

Start saving

Wells Fargo, Member FDIC

Compare Today's Banking Offers

Wells Fargo Review: Overall Rating

FeaturePersonal Finance Insider rating (out of 5)
Banking2.25 to 3.25
Investing3.58
Mortgages3.12
Personal Credit Cards3.5 to 4.3
Personal Loans3
Trustworthiness1
Total3.25

Wells Fargo: Pros and Cons

ProsCons
  • Bank accounts make it easy to automatically save

  • Variety of credit card and mortgage options

  • Open Wells Fargo Everyday Checking Account and earn a $300 bonus when you open a new account from the offer webpage with a $25 minimum opening deposit and receive a total of $1,000 or more in qualifying electronic deposits to your new checking account within 90 calendar days of account opening (offer ends September 25, 2024)

  • Open an eligible savings account to earn a

  • Low rates on savings and CDs compared to online banks
  • $2,500minimum deposit required to open a CD
  • High account minimum for Intuitive Investor
  • F rating from the Better Business Bureau

About Wells Fargo

Wells Fargo is a national brick-and-mortar bank with more than 4,000 branches and 12,000 ATMs. Branches are available in about 36 states and Washington, DC.

You can apply for bank accounts, credit cards, personal loans, home loans, and auto loans. The bank also has a robo-advisor platform called Intuitive Investor.

Wells Fargo bank account deposits are FDICinsured up to $250,000, or $500,000 for joint accounts. This means your money is safe even if Wells Fargo were to shut down.

Wells Fargo Online and Mobile Banking Experience

Wells Fargo offers standard online and mobile banking, similar to other national banks. You'll be able to make mobile check deposits, send money with Zelle, and set bank account alerts to maintain your account balance.

The bank's mobile app has received 4.8 out of 5 stars in the Apple Store based on 8.7 million ratings. In the Google Play store, it's also received 4.8 out of 5 stars based on over 2 million reviews.

Wells Fargo Customer Service and Support

Wells Fargo offers customer support at branches or by phone. You can schedule an appointment with a banker online or walk into a branch during traditional business hours.

For specific services, like personal loans or mortgage financing, the hours may vary.

Is Wells Fargo Trustworthy?

The Better Business Bureau currently gives Wells Fargo an F rating because it has received customer complaints on the BBB website and there has been government action taken against the bank. In the past few years, Wells Fargo has been involved in the following controversies:

  • In December 2022, the Consumer Financial Protection Bureau required Wells Fargo to pay more than $3.7 billion in a settlement that accused the bank of wrongfully charging fees that led thousands of customers to lose vehicles and homes. The settlement also accuses the bank of wrongfully charging overdraft fees on checking and savings accounts.
  • In 2021, Wells Fargo consented to a Cease and Desist order from the Office of the Comptroller of the Currency. The OCC stated that the bank's home lending loss mitigation program was unsuccessful, and it charged Wells Fargo a $250 million civil penalty.

Wells Fargo FAQs

How does Wells Fargo's customer service compare to other banks?

Wells Fargo customer service availability is better than many other banks. Some banks only offer customer support during the weekdays or traditional banking hours, but Wells Fargo offers 24/7 customer support for general banking.

What makes Wells Fargo stand out from other banks?

Wells Fargo stands out from other banks if you prioritize an extensive branch and ATM network. Wells Fargo also has a variety of bank accounts, credit cards, mortgages, and loan types, so it may be worthwhile if you want to do all your banking with one financial institution. You may prefer another bank if you want to open a high-yield savings account or investment options with lower minimum opening requirements.

Has Wells Fargo addressed its past controversies?

Yes. The Consumer Financial Protection Bureau required Wells Fargo to pay over $2 billion in redress to customers who had their bank accounts frozen, vehicles repossessed, or homes lost due to bank fees.

Wells Fargo Banking Review

Wells Fargo Way2Save® Savings Account

Wells Fargo Way2Save® Savings Account

Start saving

On Wells Fargo's website

Insider’s Rating

2.5/5

Fees

$5 monthly service fee

Annual Percentage Yield (APY)

0.01%

Minimum Opening Deposit

$25

Pros

  • $25 minimum opening deposit
  • Automatic savings feature

Cons

  • Low APY
  • $5 monthly service fee

Product Details

  • Approximately 4,900 branches and 12,000 ATMs
  • Waive $5 monthly service fee by maintaining a $300 daily balance, OR setting up automatic savings options, OR be under age 24 and the primary account owner OR transferring $25 or more from a linked Wells Fargo checking account, or have 1 automatic transfer each business day within the fee period of $1 or more from a linked Wells Fargo checking account
  • Save As You Go® transfers $1 into your Way2Save Savings Account from checking each time you swipe your debit card
  • Interest compounded daily, paid monthly
  • FDIC insured

Wells Fargo savings rates are low, but it does come with plenty of other perks.

You also only need $25 to open an account, and there are several ways to waive the $5 monthly service fee. You can link the account to your Wells Fargo checking account so that every time you swipe your debit card, you automatically transfer $1 from checking into savings.

Read Business Insider's Wells Fargo Savings Rates Review.

Wells Fargo Everyday Checking Account

Wells Fargo Everyday Checking Account

Start banking

Wells Fargo, FDIC Insured

Insider’s Rating

3.25/5

Perks

Earn a $300 bonus when you open a new account from the offer webpage with a $25 minimum opening deposit and receive a total of $1,000 or more in qualifying electronic deposits to your new checking account within 90 calendar days of account opening (offer ends September 25, 2024)

Fees

$10 monthly service fee

Annual Percentage Yield (APY)

None

Minimum Opening Deposit

$25

Bonus

Earn a $300 bonus when you open a new account from the offer webpage with a $25 minimum opening deposit and receive a total of $1,000 or more in qualifying electronic deposits to your new checking account within 90 calendar days of account opening (offer ends September 25, 2024)

$325

Pros

  • Relatively easy to waive monthly fee
  • Free overdraft protection available
  • $25 minimum opening deposit

Cons

  • $10 monthly service fee
  • $35 overdraft fee
  • $2.50 out-of-network ATM fee

Insider’s Take

Wells Fargo is a solid choice if you're looking for a brick-and-mortar bank with a national presence. It also offers some of the best checking and savings account bonuses out there for opening new accounts. But to earn high savings rates, you'll want to look elsewhere.

Product Details

  • Approximately 4,700 branches and 12,000 ATMs
  • Earn $300 bonus when you open a new account from the offer webpage with a $25 minimum opening deposit and receive a total of $1,000 or more in qualifying electronic deposits to your new checking account within 90 calendar days of account opening (offer ends September 25, 2024)
  • Waive $10 monthly fee when you have $500 in direct deposits per month, OR maintain minimum balance of $500, OR link account to a Wells Fargo Campus ATM or Campus Debit Card OR are 17-24 years old
  • FDIC insured

The most appealing feature of Wells Fargo Everyday Checking Account is the $325 sign-up bonus. You may qualify if you receive at least $1,000 in direct deposits within 90 days of opening the account. You also have multiple options for waiving the $10 monthly service fee.

Wells Fargo Standard Fixed Rate CD

Wells Fargo Standard Fixed Rate CD

Start saving

Wells Fargo, Member FDIC

Insider’s Rating

2.25/5

Annual Percentage Yield (APY)

1.50% to 4.51%

Minimum Opening Deposit

$2,500

Pros

  • Interest compounded daily
  • Choose how often your interest is paid
  • Standard early withdrawal penalties

Cons

  • Low APY
  • $2,500 minimum deposit
  • Limited term options

Product Details

  • Choose from 3-month, 6-month, or 1-year CD term
  • Earn the Relationship APY when linked to a Prime Checking, Premier Checking, or Private Bank Interest Checking account
  • Early withdrawal penalty is 3 months interest for 3-month, 6-month, and 1-year CDs
  • Interest compounded daily; choose how often to be paid
  • FDIC insured

Wells Fargo requires $2,500 to open a CD, and it only offers terms up to one year — many banks have terms up to five or even 10 years. It pays decent rates for a brick-and-mortar bank. The Wells Fargo Special Fixed Rate CD pays an even higher rate of 4.25% to 5.01% (varies by location), but it only has a 7-month term, and you'll need $5,000 to open an account.

Read Business Insider's Wells Fargo CD Rates Review.

Wells Fargo Investing Review

Wells Fargo Intuitive Investors

Wells Fargo Intuitive Investors

Wells Fargo Bank Review 2024 (7)

Insider’s Rating

3.58/5

Account Minimum

$500

Fees

0.25% to 0.35%

Pros

  • Smart-beta automated portfolios
  • Tax-loss harvesting
  • Unlimited access to human advisors

Cons

  • High account minimum
  • Only offers exchange traded funds (ETFs)
  • Doesn’t offer advanced charting tools or goal-tracking features

Product Details

  • Wells Fargo members with a checking account get up to a 0.10% management fee discount
  • Offers Globally Diversified and Sustainability Focused portfolios
  • Dividend reinvesting

Wells Fargo has an automated investing platform called Intuitive Investors. You'll need at least to open an account, which is steep compared to other robo-advisors.

Read Business Insider's Wells Fargo Intuitive Investor Review.

Wells Fargo Mortgages Review

Wells Fargo Mortgage

Wells Fargo Mortgage

Compare rates

On Bankrate's website

Insider’s Rating

3/5

Recommended Credit

620

Minimum Down Payment

3%

Types of Loans Offered

Conforming, jumbo, VA, FHA, USDA, new construction, cash-out refinance, Dream. Plan. Home. Mortgage

Pros

  • Offers several types of home loans
  • Dream. Plan. Home. Mortgage has more flexible credit requirements
  • Down payment and closing cost assistance available
  • Current customers could get a discount on a jumbo loan

Cons

  • No home equity loan, HELOC, or reverse mortgage
  • Ranks low in J.D. Power’s Mortgage Origination Satisfaction Study
  • Ranks low in trustworthiness

Insider’s Take

Wells Fargo Mortgage offers a wide variety of mortgages, including the Dream. Plan. Home. Mortgage, which offers assistance and grants to people who make below 80% of the area median income. But itranks extremely low in trustworthiness.

Wells Fargo Mortgage review External link Arrow An arrow icon, indicating this redirects the user."

Product Details

  • Offers mortgages in all 50 US states and Washington, DC
  • Dream. Plan. Home. Mortgage has more lax credit score requirements and is for people who earn less than 80% of the median area income
  • Minimum credit score and down payment displayed are for conforming mortgages

Wells Fargo offers conforming loans, jumbo loans, VA loans, FHA loans, and new construction loans. The bank also has a Dream. Plan.Home. Mortgage. which is a fixed-rate mortgage specifically for customers who are below 80% of the area median income.

Read Business Insider's Wells Fargo Mortgage Review.

Wells Fargo Personal Credit Cards Review

Compare the Top Wells Fargo Credit Cards

  • Wells Fargo Bank Review 2024 (9)

    Wells Fargo Autograph Journey℠ Card

  • Wells Fargo Bank Review 2024 (10)

    Wells Fargo Autograph℠ Card

  • Wells Fargo Bank Review 2024 (11)

    Wells Fargo Attune℠ Card

  • Wells Fargo Bank Review 2024 (12)

    Wells Fargo Reflect® Card

  • Wells Fargo Bank Review 2024 (13)

    Wells Fargo Active Cash® Card

  • Wells Fargo Bank Review 2024 (14)

    Bilt Mastercard®

  • Wells Fargo Bank Review 2024 (15)

    Choice Privileges® Select Mastercard®

Rewards

Earn unlimited 5x points on hotels. Earn 4x points on airlines. Earn 3x points on other travel and dining. Earn 1x on other purchases.

Intro Offer

Earn 60,000 bonus points

Earn 60,000 bonus points when you spend $4,000 in purchases in the first 3 months – that’s $600 toward your next trip

Show more

Annual Fee

$95

Rewards

Earn unlimited 3x points on restaurants, travel, gas stations, transit, popular streaming services and phone plans. Earn 1x points on other purchases.

Intro Offer

Earn 20,000 bonus points

20,000 bonus points when you spend $1,000 in purchases in the first three months from account opening

Show more

Annual Fee

$0

Rewards

Earn unlimited 4% cash rewards on select self-care, planet-friendly, and sports, recreation, and entertainment purchases. Earn 1% cash rewards on other purchases.

Intro Offer

Earn a $100 cash rewards bonus

$100 cash rewards bonus when you spend $500 in purchases in the first three months from account opening

Show more

Annual Fee

$0

Rewards

N/A

Intro Offer

N/A

Annual Fee

$0

Rewards

Earn unlimited 2% cash rewards on purchases.

Intro Offer

Earn $200 cash rewards bonus

$200 cash rewards bonus after spending $500 in purchases in the first three months from account opening

Show more

Annual Fee

$0

Rewards

Earn 3x points on dining. Earn 2x points on travel (when booked directly with an airline, hotel, car rental or cruise company). Earn 1x points on rent payments (up to $100,000 each year). Earn even more on Rent Day with 6X on dining, 4X on travel, and 2X on other purchases (except rent). Earn points when you make 5 transactions that post each statement period.

Intro Offer

N/A

Annual Fee

$0

Rewards

Earn 10X points on stays at participating Choice Hotels properties. Earn 5X points on qualifying purchases at gas stations, grocery stores, home improvement stores, and phone plans. Earn 1X points on other purchases.

Intro Offer

Earn 60,000 points

Earn 60,000 bonus points when you spend $3,000 in purchases in the first 3 months enough to redeem for up to 7 rewards nights at select Choice Hotels® properties

Show more

Annual Fee

$95

Apply now

On Wells Fargo's website

Apply now

On Wells Fargo's website

Apply now

On Wells Fargo's website

Apply now

On Wells Fargo's website

Apply now

On Bilt's website

Apply now

On Wells Fargo's website

Wells Fargo Autograph Journey℠ Card

Wells Fargo Autograph Journey℠ Card

Apply now

On Wells Fargo's website

Insider’s Rating

4.2/5

Perks

Earn unlimited 5X points on hotels, 4X points on airlines, 3X points on other travel and restaurants, and 1X points on other purchases.

Annual Fee

$95

Intro APR

N/A

Regular APR

21.24%, 26.24%, or 29.99% Variable

Intro Offer

Earn 60,000 bonus points when you spend $4,000 in purchases in the first 3 months – that’s $600 toward your next trip

Earn 60,000 bonus points

Recommended Credit

Good or Excellent

Pros

  • Trip cancellation and lost baggage protection
  • Airline and hotel transfer partners available
  • Welcome bonus
  • Generous cellphone protection
  • Low annual fee

Cons

  • Transfer partner network not as diverse or robust as competitors

Insider’s Take

The Wells Fargo Autograph Journey℠ Card is a true travel credit card, with benefits that rival many of the best travel rewards credit cards currently on the market. This card has a low annual fee on par with that of popular competing credit cards and Wells Fargo's newly announced Points Transfer program allows cardholders to juice maximum value from every point they earn.

Autograph Journey℠ Card review External link Arrow An arrow icon, indicating this redirects the user."

Product Details

  • Select “Apply Now” to take advantage of this specific offer and learn more about product features, terms and conditions.
  • Earn 60,000 bonus points when you spend $4,000 in purchases in the first 3 months – that’s $600 toward your next trip.
  • Earn unlimited 5X points on hotels, 4X points on airlines, 3X points on other travel and restaurants, and 1X points on other purchases.
  • $95 Annual Fee.
  • Book your travel with the Autograph Journey Card and enjoy Travel Accident Insurance, Lost Baggage Reimbursem*nt, Trip Cancellation and Interruption Protection and Auto Rental Collision Damage Waiver.
  • Earn a $50 annual statement credit with $50 minimum airline purchase.
  • Up to $1,000 of cell phone protection against damage or theft. Subject to a $25 deductible.
  • Find tickets to top sports and entertainment events, book travel, make dinner reservations and more with your complimentary 24/7 Visa Signature® Concierge.

Read Business Insider's Wells Fargo Autograph Journey Card Review.

Wells Fargo Autograph℠ Card

Wells Fargo Autograph℠ Card

Apply now

On Wells Fargo's website

Insider’s Rating

Business Insider's Ratings are decided by our editorial team. The rating system considers various factors and evaluates cards against others of the same type so you can pick a card that is a good fit for your goals.

4.3/5

Perks

Earn unlimited 3x points on restaurants, travel, gas stations, transit, popular streaming services and phone plans. Earn 1x points on other purchases.

Annual Fee

$0

Intro APR

0% intro APR on purchases for 12 months from account opening

Regular APR

20.24%, 25.24%, or 29.99% variable

Intro Offer

20,000 bonus points when you spend $1,000 in purchases in the first three months from account opening

Earn 20,000 bonus points

Recommended Credit

Good to Excellent

Pros

  • Generous welcome bonus for a no-annual-fee card
  • Great earning rates in useful categories, including dining, travel, and gas stations
  • Useful benefits including cell phone protection and Visa Signature concierge

Cons

  • Minimum spending requirement to earn bonus is slightly higher than similar no-annual-fee cards
  • No airline or hotel transfer partners

Insider’s Take

The Wells Fargo Autograph℠ Card is one of the best credit card options if you're looking for a no-annual-fee cash rewards card with a solid welcome bonus — especially if you spend a lot in its 3x bonus categories.

Wells Fargo Autograph Card review External link Arrow An arrow icon, indicating this redirects the user."

Product Details

  • Select "Apply Now" to take advantage of this specific offer and learn more about product features, terms and conditions.
  • Earn 20,000 bonus points when you spend $1,000 in purchases in the first 3 months - that's a $200 cash redemption value.
  • Earn unlimited 3X points on the things that really add up - like restaurants, travel, gas stations, transit, popular streaming services, and phone plans. Plus, earn 1X points on other purchases.
  • $0 annual fee.
  • 0% intro APR for 12 months from account opening on purchases. 20.24%, 25.24%, or 29.99% variable APR thereafter.
  • Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible.
  • Redeem your rewards points for travel, gift cards, or statement credits. Or shop at millions of online stores and redeem your rewards when you check out with PayPal.
  • Find tickets to top sports and entertainment events, book travel, make dinner reservations and more with your complimentary 24/7 Visa Signature® Concierge.

Read Business Insider's Wells Fargo Autograph Credit Card Review.

Wells Fargo Attune℠ Card

Wells Fargo Attune℠ Card

Wells Fargo Bank Review 2024 (18)

Insider’s Rating

Business Insider's Ratings are decided by our editorial team. The rating system considers various factors and evaluates cards against others of the same type so you can pick a card that is a good fit for your goals.

4.4/5

Perks

Earn unlimited 4% cash rewards on select self-care, planet-friendly, and sports, recreation, and entertainment purchases. Earn 1% cash rewards on other purchases.

Annual Fee

$0

Intro APR

0% intro APR for 12 months from account opening on purchases

Regular APR

20.24%, 25.24%, or 29.99% variable

Intro Offer

$100 cash rewards bonus when you spend $500 in purchases in the first three months from account opening

Earn a $100 cash rewards bonus

Recommended Credit

Good to Excellent

Pros

  • High cashback rate on common expenses including gyms, spas, pet care, concert tickets, and public transit
  • No annual fee
  • Cellphone protection

Cons

  • Limited reward redemption beyond cash back

Attune℠ Card review External link Arrow An arrow icon, indicating this redirects the user."

Read Business Insider's Wells Fargo Attune Card Review.

Wells Fargo Reflect® Card

Wells Fargo Reflect® Card

Apply now

On Wells Fargo's website

Insider’s Rating

Insider's Ratings are decided by our editorial team. The rating system considers various factors and evaluates cards against others of the same type so you can pick a card that is a good fit for your goals.

3.5/5

Perks

0% intro APR for 21 months from account opening on purchases and qualifying balance transfers made within 120 days, then 18.24%, 24.74%, or 29.99% variable APR

Annual Fee

$0

Intro APR

0% intro APR for 21 months from account opening on purchases and qualifying balance transfers made within 120 days

Regular APR

18.24%, 24.74%, or 29.99% variable

Intro Offer

N/A

Recommended Credit

Good to Excellent

Pros

  • Extra-long intro APR on purchases and qualifying balance transfers
  • No annual fee
  • Cell phone protection

Cons

  • No rewards
  • Foreign transaction fees

Insider’s Take

If you're looking for the best Wells Fargo credit card for balance transfers, the Wells Fargo Reflect® Card is a great choice. And it offers an extra-long interest-free period on new purchases, too.

Wells Fargo Reflect Card review External link Arrow An arrow icon, indicating this redirects the user."

Product Details

  • Select "Apply Now" to take advantage of this specific offer and learn more about product features, terms and conditions.
  • 0% intro APR for 21 months from account opening on purchases and qualifying balance transfers. 18.24%, 24.74%, or 29.99% variable APR thereafter; balance transfers made within 120 days qualify for the intro rate, BT fee of 5%, min $5.
  • $0 Annual Fee.
  • Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible.
  • Through My Wells Fargo Deals, you can get access to personalized deals from a variety of merchants. It's an easy way to earn cash back as an account credit when you shop, dine, or enjoy an experience simply by using an eligible Wells Fargo credit card.

Read Business Insider's Wells Fargo Reflect Credit Card Review.

Wells Fargo Active Cash® Card

Wells Fargo Active Cash® Card

Apply now

On Wells Fargo's website

Insider’s Rating

Insider's Ratings are decided by our editorial team. The rating system considers various factors and evaluates cards against others of the same type so you can pick a card that is a good fit for your goals.

4.3/5

Perks

Earn unlimited 2% cash rewards on purchases.

Annual Fee

$0

Intro APR

0% intro APR on purchases and qualifying balance transfers for 15 months from account opening

Regular APR

20.24%, 25.24%, or 29.99% variable

Intro Offer

$200 cash rewards bonus after spending $500 in purchases in the first three months from account opening

Earn $200 cash rewards bonus

Recommended Credit

Good to Excellent

Pros

  • Good welcome bonus for a $0 annual fee card
  • Straightforward 2% cash rewards on purchases with no categories to track
  • Strong benefits including cell phone protection, Visa Signature perks, and an intro APR on purchases and qualifying balance transfers

Cons

  • If you've opened a Wells Fargo card in the past six months, you may not qualify for an additional Wells Fargo credit card
  • Foreign transaction fees

Insider’s Take

The Wells Fargo Active Cash® Card is definitely worth considering if you want to earn a strong rate of cash rewards on purchases without rotating categories or earning caps and with no annual fee. It's got a solid welcome bonus and intro APR offer, which puts it high on our list of the best zero-interest credit cards.

Wells Fargo Active Cash Card review External link Arrow An arrow icon, indicating this redirects the user."

Product Details

  • Select "Apply Now" to take advantage of this specific offer and learn more about product features, terms and conditions.
  • Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months.
  • Earn unlimited 2% cash rewards on purchases.
  • 0% intro APR for 15 months from account opening on purchases and qualifying balance transfers. 20.24%, 25.24%, or 29.99% Variable APR thereafter; balance transfers made within 120 days qualify for the intro rate and fee of 3% then a BT fee of up to 5%, min: $5.
  • $0 annual fee.
  • No categories to track or remember and cash rewards don't expire as long as your account remains open.
  • Find tickets to top sports and entertainment events, book travel, make dinner reservations and more with your complimentary 24/7 Visa Signature® Concierge.
  • Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible.

Read Business Insider's Wells Fargo Active Cash Card Review.

Bilt Mastercard®

Bilt Mastercard®

Apply now

On Bilt's website

Insider’s Rating

Insider's Ratings are decided by our editorial team. The rating system considers various factors and evaluates cards against others of the same type so you can pick a card that is a good fit for your goals.

4/5

Perks

Earn up to 1x points on rent payments without the transaction fee, up to 100,000 points each calendar year. Earn 2x points on travel. Earn 3x points on dining. Earn 1x points on other purchases. Earn points when you make 5 transactions that post each statement period.

Annual Fee

$0

Intro APR

N/A

Regular APR

See Terms

Intro Offer

N/A

Recommended Credit

Good to Excellent

Pros

  • Only credit card to offer rent payments to any landlord
  • Excellent range of airline and hotel transfer partners through the Bilt App
  • World Elite Mastercard benefits and no annual fee

Cons

  • If you’re not a renter, other cards offer better welcome bonuses and rewards
  • Must make 5 transactions per statement period to earn points

Insider’s Take

The Bilt Mastercard® is the first credit card to offer up to 100,000 points in a calendar year rewards for paying rent without the transaction fee — and you can redeem your points for travel, merchandise, and more. While it now offers bonus points on dining and select travel, if you're not a renter, you should consider other no-annual-fee rewards credit cards as well.

Bilt Mastercard® review External link Arrow An arrow icon, indicating this redirects the user."

Product Details

  • Select "Apply Now" to take advantage of this specific offer and learn more about product features, terms and conditions.
  • $0 Annual Fee.
  • Earn up to 1x points on rent payments without the transaction fee, up to 100,000 points each calendar year.
  • 2x points on travel.
  • 3x points on dining.
  • 1x points on other purchases.
  • Earn points when you make 5 transactions that post each statement period.
  • When renting at a Bilt Alliance property, you can choose to have your rent payments automatically reported by Bilt to the three major credit bureaus each month; Experian™, TransUnion™, and Equifax™.

Read Business Insider's Bilt Mastercard Card Review.

Choice Privileges® Select Mastercard®

Choice Privileges® Select Mastercard®

Apply now

On Wells Fargo's website

Insider’s Rating

Insider's Ratings are decided by our editorial team. The rating system considers various factors and evaluates cards against others of the same type so you can pick a card that is a good fit for your goals.

4.2/5

Perks

Earn 10X points on stays at participating Choice Hotels properties. Earn 5X points on purchases at gas stations, grocery stores, home improvement stores and phone plan services. Plus earn 1X points on other purchases.

Annual Fee

$95

Intro APR

N/A

Regular APR

20.99%, 25.24%, or 29.99% Variable

Intro Offer

Earn 60,000 bonus points when you spend $3,000 in purchases in the first 3 months enough to redeem for up to 7 rewards nights at select Choice Hotels® properties

Earn 60,000 points

Recommended Credit

Excellent

Pros

  • Generous welcome bonus offer
  • Automatic Platinum elite status
  • Strong benefits including 30,000 points on each card anniversary, cell phone protection, Global Entry/TSA PreCheck application fee credit, and no foreign transaction fees

Cons

  • Annual fee of $95
  • No travel insurance or purchase protections

Insider’s Take

Wells Fargo has two Choice Hotels credit cards, and the Choice Privileges® Select Mastercard® is the most rewarding of the pair with automatic elite status, and points on your card anniversary.

Choice Privileges Select Mastercard review External link Arrow An arrow icon, indicating this redirects the user."

Product Details

  • Select "Apply Now" to take advantage of this specific offer and learn more about product features, terms and conditions.
  • Earn 60,000 bonus points when you spend $3,000 in purchases in the first 3 months - enough to redeem for up to 7 rewards nights at select Choice Hotels® properties.
  • Earn 10X points on stays at participating Choice Hotels properties.
  • Earn 5X points on purchases at gas stations, grocery stores, home improvement stores and phone plan services. Plus earn 1X points on other purchases.
  • $95 annual fee.
  • Up to $800 of cell phone protection against damage or theft. Subject to a $25 deductible.
  • Receive 20 Elite night credits qualifying for at least Platinum level status each calendar year.
  • No Foreign Currency Conversion Fee.

Read Business Insider's Choice Privileges Select Mastercard Review.

Choice Privileges® Mastercard®

Choice Privileges® Mastercard®

Apply now

On Wells Fargo's website

Insider’s Rating

Insider's Ratings are decided by our editorial team. The rating system considers various factors and evaluates cards against others of the same type so you can pick a card that is a good fit for your goals.

3.8/5

Perks

Earn 5X points on stays at participating Choice Hotels properties. Earn 3X points on purchases at gas stations, grocery stores, home improvement stores and phone plan services. Plus earn 1X points on other purchases.

Annual Fee

$0

Intro APR

N/A

Regular APR

20.99%, 25.24%, or 29.99% Variable

Intro Offer

Earn 40,000 bonus points when you spend $1,000 in purchases in the first 3 months - enough to redeem for up to 5 rewards nights at select Choice Hotels® properties.

Earn 40,000 points

Recommended Credit

Excellent

Pros

  • Welcome bonus worth up to five reward nights at Choice Hotels
  • Good benefits including automatic Gold elite status and cell phone protection
  • No annual fee or foreign transaction fees

Cons

  • No anniversary points or award night
  • No travel insurance or purchase protections

Insider’s Take

While the the Choice Privileges® Mastercard® has no annual fee and modest benefits, it's a weaker option compared to many other no-annual-fee hotel credit cards on the market.

Choice Privileges Mastercard review External link Arrow An arrow icon, indicating this redirects the user."

Product Details

  • Select "Apply Now" to take advantage of this specific offer and learn more about product features, terms and conditions.
  • Earn 40,000 bonus points when you spend $1,000 in purchases in the first 3 months - enough to redeem for up to 5 rewards nights at select Choice Hotels® properties.
  • Earn 5X points on stays at participating Choice Hotels properties.
  • Earn 3X points on purchases at gas stations, grocery stores, home improvement stores and phone plan services. Plus earn 1X points on other purchases.
  • $0 annual fee.
  • Up to $800 of cell phone protection against damage or theft. Subject to a $25 deductible.
  • Receive 10 Elite night credits qualifying for at least Gold level status each calendar year.
  • No Foreign Currency Conversion Fee.

Read Business Insider's Wells Fargo Choice Privileges Mastercard Review.

Wells Fargo has some of the best credit cards overall. The Bilt Mastercard® stands out as a strong option for renters because you can earn rewards for paying rent. Meanwhile, theWells Fargo Active Cash® Card is a great option for cash-back rewards, and the Wells Fargo Reflect® Card has an impressive intro APR offer.

The bank also recently launched the Wells Fargo Autograph Journey℠ Card, which may be appealing if you're searching for a travel rewards credit card.

Read Business Insider's Best Wells Fargo Credit Cards.

Wells Fargo Personal Loans Review

Wells Fargo Personal Loan

Wells Fargo Personal Loan

Check rates

Get matched with personal loan offers

Insider’s Rating

3/5

Perks

Relationship discount of 0.25%

Regular APR

8.49% to 24.49% (with relationship discount)

Loan Amount Range

$3,000 to $100,000

Minimum Credit Score

Undisclosed

Pros

  • Large maximum loan amounts
  • Discounts for current customers
  • Established brick-and-mortar lender
  • No origination fee or prepayment penalty

Cons

  • Significant late fees
  • History of mismanaging customer information
  • No online applications for non-customers

Insider’s Take

Wells Fargo Personal Loan are a good choice if you need a significant amount of cash, as you can borrow up to $100,000 with the lender. However, if you're not a current customer, you can't apply for a personal loan without visiting a branch.

Wells Fargo personal loan review External link Arrow An arrow icon, indicating this redirects the user."

Product Details

  • Loan amounts range from $3,000 to $100,000
  • Term lengths range from 1 to 7 years
  • Rate discounts to customers who have a checking account with the bank and who make their loan payments automatically through that account
  • Non-customers must apply by visiting a branch and talking with a banker
  • Loans made by Wells Fargo, member FDIC

Wells Fargo offers some of the best low-interest personal loans. Loans amount range from $3,000 to $100,000, and you can choose from term lengths between one to seven years.

Read Business Insider's Wells Fargo Personal Loans Review.

How Wells Fargo Banking Compares

We've compared Wells Fargo bank acoc*nts to two other big, national banks: Bank of America and Chase.

Wells Fargo vs. Bank of America

Your decision may ultimately come down to which institution has the most nearby branch locations. If you're looking for a sign-up bonus, Wells Fargo is likely the better choice.

For checking accounts, Bank of America offers a $200 bonus for eligible new customers who open a Bank of America Advantage SafeBalance Banking® account with qualifying activities (offer expires May 31, 2024). This is lower than Wells Fargo's checking bonus. Wells Fargo also offers a substantial savings bonus if you can deposit at least $25,000, while Bank of America doesn't have a savings bonus at all.

If you take bonuses out of the equation, Bank of America might be the better choice for a savings account. With the Bank of America Advantage Savings Account, you won't have to worry about monthly service fees during the first six months of opening an account. If you get the Wells Fargo Way2Save® Savings Account you'll need to meet certain requirements every month to waive a $5 monthly service fee.

Bank of America Review

Wells Fargo vs. Chase

Chase and Wells Fargo are two of the largest national banks in the US. Your choice between the two might depend on where you live. Otherwise, your decision could rely on differences between bank account features and perks.

You might favor Wells Fargo over Chase if you're only looking to open a checking account. Wells Fargo makes it easier to waive the monthly service fee than Chase. You can earn a $300 bonus when you open an account and make direct deposits totaling $500 or more within 90 days of coupon enrollment (offer expires on 07/24/2024). While this bonus is easier to earn than Wells Fargo's checking bonus, it's still not quite as high. Chase also doesn't offer a savings bonus.

Chase Bank Review

Should You Bank with Wells Fargo?

Wells Fargo is a decent option if you want to bank with a brick-and-mortar financial institution. It has an extensive branch and ATM network, so you'll likely find a nearby branch in many states. Wells Fargo also has a variety of bank accounts, credit cards, mortgages, and loan types. Hence, it may also be worthwhile if you want to bank with one financial institution primarily.

If you're interested in competitive savings or CD rates, other financial institutions may be more suitable choices. Wells Fargo also has many common bank fees like monthly service fees and overdraft fees. There are ways to waive these fees at Wells Fargo. That said, keep in mind that some banks and credit unions do not charge these fees at all.

Why You Should Trust Us: How We Reviewed Wells Fargo

To review Wells Fargo, we rated accounts and services using our editorial standards.

At Business Insider, we rate products on a scale from zero to five stars. We review different features for distinct products.

In general, we look at ethics, customer support, and mobile apps when rating a bank account. Other factors we consider depend on which type of account we're reviewing. For example, we look at overdraft protection for checking accounts, and early withdrawal penalties for CDs.

We also used distinct methodologies for reviewing credit cards, personal loans, student loans, home loans, and investment accounts. For example, we examined annual fees and rewards rates with credit cards, and we looked at fees and term options with personal loans.

Sophia Acevedo

Banking Editor

Sophia Acevedo is a banking editor at Business Insider. She has spent three years as a personal finance journalist and is an expert across numerous banking topics.ExperienceSophia leads Personal Finance Insider's banking coverage, including reviews, guides, reference articles, and news. She edits and updates articles about banks, checking and savings accounts, CD rates, and budgeting and saving. She is highly knowledgeable about long-term trends in rates and offers at banks across the U.S.Before joining Business Insider, Sophia worked as a journalist at her college newspaper and was a freelance writer. She has spent seven years writing and editing as a journalist.Sophia was nominated for an Axel Springer Award for Change in 2023 for her coverage of ABLE accounts, tax-free savings accounts for people with disabilities. She was also a winner of a 2018 California Journalism Awards Campus Contest for her photography.She loves helping people find the best solutions for their unique needs and hopes that more people will find the tools to solve their financial problems. She’s inspired by stories of everyday people adapting to their financial circ*mstances and overcoming their fears around money.ExpertiseSophia's expertise includes:

  • Bank accounts
  • Savings and CD rate trends
  • Budgeting
  • Saving
  • How banks operate

EducationSophia graduated from California State University Fullerton with a degree in journalism and a minor in political science.She is an avid reader across a variety of genres, and she started running in 2021. She ran in the 2024 Los Angeles Marathon.

Evelyn He

Compliance and Operations Associate

Evelyn He is a Compliance and Operations Associate on the Personal Finance team to ensure content accuracy and editorial independence so readers get up-to-date and objective financial advice.The compliance team's mission is to provide readers with fact-checked and current stories so they can make informed financial decisions. The team also works to minimize risk for partners by ensuring language is clear, precise, and fully compliant with regulatory and partner marketing guidelines that align with the editorial team.

Top Offers From Our Partners

Wells Fargo Bank Review 2024 (27)

SoFi Checking and Savings Earn up to 4.60% APY on savings balances and up to a $300 bonus with qualifying direct deposit. FDIC Insured.

There is no minimum direct deposit amount required to qualify for the 4.60% APY for savings. Members without direct deposit will earn up to 1.20% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 10/24/2023. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. To earn the $300 bonus, the customer must complete a direct deposit with a minimum initial deposit of $250 in a new SoFi Checking and Savings account within 45 days of clicking to qualify (offer expires 12/31/24).

Editorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer. Read our editorial standards.

Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.

**Enrollment required.

For a guide to the benefits of the Bilt Mastercard, please click here.

For rewards and benefits of the Bilt Mastercard, please click here.

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