Wells Fargo Everyday Checking account review
Wells Fargo Everyday Checking isn't available on Finder right now.
- Fee
- $10 per month
- APY
- N/A
- Minimum deposit to open
- $25
Our verdict
A basic checking account with an option for no monthly fee.
The Wells Fargo Everyday Checking account is a solid choice for those who value a large branch and ATM network and those who can waive the $10 monthly fee. However, the account has drawbacks, such as a $35 overdraft fee if you opt out of overdraft protection services. It also lacks some perks available with other checking accounts, such as a competitive APY or cash back.
Best for: Those who prefer traditional banking and can waive the monthly fee.
Pros
-
Multiple ways to avoid monthly fee
-
Large ATM network
-
Over 5,600 branches
-
Convenient mobile app
-
Optional overdraft protection
Cons
-
Minimum opening deposit
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Potential monthly service fee
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High overdraft fees without protection service
-
No APY or cashback rewards
What we like about Wells Fargo Everyday Checking
Wells Fargo’s Everyday Checking offers flexibility and convenience, making it a strong choice for everyday banking.
You can avoid the $10 monthly service fee if you’re a student between the ages of 17 and 24. You can also avoid the monthly fee by meeting one of several criteria:
- Maintain a $500 minimum daily balance
- Receive $500 or more in total qualifying electronic deposits
- Link the account to a Wells Fargo Campus ATM Card or Campus Debit Card
- Receive qualifying monthly non-civilian military direct deposit with the Wells Fargo Worldwide Military Banking program
This flexibility is more generous than options like Chase Total Checking, which has higher requirements for waiving fees.
Early access to direct deposits
With the Early Pay Day feature, you can access your eligible direct deposits up to two days early.
Extensive ATM network
Wells Fargo provides free access to over 11,000 ATMs nationwide, giving customers the convenience of fee-free withdrawals.
Robust digital and mobile banking
The Wells Fargo mobile app is highly rated, with 4.9 stars from over nine million reviews, and offers a suite of digital tools such as Zelle and a budget planner to make banking easier.
Overdraft service
You can choose to pay a standard overdraft fee of $35, or you can choose to decline transactions if you don’t have enough money in your account.
Where it falls short
When considering a Wells Fargo checking account, there are a few key factors to keep in mind. First, the account requires a $25 minimum deposit to open and charges a $10 monthly service fee unless you meet the criteria we mentioned previously. Additionally, Wells Fargo’s overdraft fee is $35 per transaction — higher than those at smaller institutions.
Wells Fargo does not process deposits on weekends, which may result in longer processing times. And the account doesn’t offer extra perks like cashback rewards or a competitive APY that you can find with other rewards checking accounts in the market. Before opening an account, it’s essential to weigh these factors and compare them with other options to find a checking account that best suits your needs.
For a broader overview, check out our guide to checking accounts.
Wells Fargo Everyday Checking’s fees and access
| Type of fee | Fee details |
|---|---|
| Monthly service | $10 (waivable) |
| Opening deposit | $25 (minimum) |
| ATMs |
|
| Debit card fees |
|
| Overdraft or nonsufficient funds | $35 per item (no fee on items $5 or less) |
| Wire transfers |
|
| Other fees |
|
Compare Wells Fargo Everyday Checking to other top checking accounts
There’s a lot to consider when choosing a checking account — tick the Compare box next to each provider to compare up to four accounts side by side.
What is the Finder Score?
The Finder Score crunches over 300 checking accounts from hundreds of financial institutions. It takes into account the product's monthly fees, overdraft fees, opening deposit, customer support options, ATM network and features — this gives you a simple score out of 10.
To provide a Score, Finder’s banking experts analyze hundreds of checking accounts against what we consider is the best option: no monthly fees, no overdraft fees, a large ATM network of 50,000 or more, additional features outside of typical banking services, and the optional perk of earning interest. Accounts that are nearly free to maintain and use are scored the highest, while accounts with costly fees and few features are scored the lowest.
Customer experience
Despite its 172 years in business, Wells Fargo is not accredited by the Better Business Bureau (BBB) and has a low F rating, thanks to past troubles with regulators. With over 68 million customers, it’s not unexpected that the bank receives a lot of negative feedback, as many people use the BBB to report problems rather than commend services. Frequently reported issues with the Everyday Checking account involve difficulties in handling fraud claims and delays in getting reimbursed for unauthorized transactions.
Wells Fargo as a business also has a “bad” rating of 1.4 stars out of five on Trustpilot. Like the BBB, this is expected, given how large Wells Fargo is. Common complaints regarding their checking accounts include difficulty depositing funds and unresolved fraudulent activity.
According to Wells Fargo, they serve one in three households across the US. Despite thousands of negative reviews on BBB and Trustpilot, they’re a renowned bank trusted by millions.
| BBB accredited | No |
|---|---|
| BBB rating | F |
| BBB customer reviews | 1.07 out of 5 stars, based on 970 customer reviews |
| Trustpilot score | 1.4 out of 5 stars, based on 343 customer reviews |
| Apple App Store Score | 4.9 out of 5 stars, based on 9,300,000 customer reviews |
| Google Play Score | 4.8 out of 5 stars, based on 2,510,000 customer reviews |
| Customer reviews verified as of | 14 October 2024 |
Frequently asked questions
Can I open my Everyday Checking as a joint account?
Yes, Wells Fargo offers the option to open your Everyday Checking account as with another applicant. However, you can only open joint accounts at a physical branch location.
Is my money safe in a Wells Fargo Everyday Checking account?
Yes, Wells Fargo checking accounts are FDIC-insured up to $250,000.
Checking account ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
Read the full methodology of how we rate checking accounts.
Wells Fargo Everyday Checking is not currently available on Finder
Have you considered SoFi Checking and Savings?
Earn up to 4.00% APY on savings by meeting deposit requirements, and 0.50% APY on checking balances. Members without deposit requirements will earn 0.50% APY on both savings and checking balances. Turn on automatic savings or use the Roundups feature to help you reach your savings goals faster. Get up to $2M of additional FDIC insurance through a network of participating banks.
- 0.50% APY on checking balance
- Up to 4.00% APY on savings
- $0 account or overdraft fees
- Get up to a $300 bonus with direct deposits of $5,000 or more
Your reviews
Gabriel Finder
Writer
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