Intangible industries like banking move assets from lower-valued to more valuable uses in the most imperceptible of ways. However, Wells Fargo Coms still stands out among its major U.S. competitors based on its size and its reach. In addition to earning interest, there are other advantages.
- 1 What is Wells Fargo Coms?
- 2 How To Open a Wells Fargo Coms Account
- 3 Pros of Using Wells Fargo
- 4 Cons of Using Wells Fargo
What is Wells Fargo Coms?
In the United States, Wells Fargo is among the five prominent banks. The company is located in San Francisco, California, and is a global financial services company.
The Wells Fargo Coms app is a great way to connect with the bank whether you’re opening a new account or shifting your current account. The resources available to you with Wells Fargo coms login will make it easier for you to stay on top of your banking, credit cards, loans, mortgages & more.
Getting started with Wells Fargo is also easy since their interest rates are very affordable.
How To Open a Wells Fargo Coms Account
It’s fast and easy to open an account with Wells Fargo, and you can do it online or in a branch. Open an account with Wells Fargo by following these few easy steps.
1. Compile the necessary information
Make sure the bank has all the information they need to identify you and comply with bank regulations:
- Information about yourself: name, address, email, phone number
- An acceptable form of identification (driver’s license, state identification card, or matricula card)
- Number of Social Security or tax identification
- Funds for your initial deposit
Note: You may have to scan your ID and attach it to your application or fax it to the bank if you choose to open your account online rather than in person.
2. Decide On a Wells Fargo Bank Account To Use
You can choose from a variety of Wells Fargo checking and savings account options. There are currently four Wells Fargo checking accounts and two Wells Fargo savings accounts, each with its own pros and cons. Here they are:
Wells Fargo Checking Accounts
The first on this list under Checking Accounts is Wells Fargo Everyday Checking:
There are several features available with this account, including a debit card and the Wells Fargo mobile app. If you maintain a minimum balance of $500 daily or receive direct deposits of $500, you can avoid the $10 monthly service charge. Younger account holders within the age of 17-24 are exempted from the monthly maintenance charge.
Second is the Wells Fargo Preferred Checking:
You are provided with free cashier’s checks when you open a Preferred Checking account. The service fee is $15 per month, but you can avoid it if you are able to maintain a $10,000 minimum balance, set up direct deposits for at least $1,000 each month, or connect a Wells Fargo mortgage.
The next is Wells Fargo Clear Access Banking:
Those as young as 13 years old are welcome to open one of these checking accounts with an adult co-owner, making it specifically designed for those opening their first checking account. Checks and overdraft fees are not charged. Although Wells Fargo does charge a $5 monthly service fee, account holders ages 13 to 24 can waive the fee.
The last on the list of Checking Accounts is Portfolio by Wells Fargo:
You earn rewards and benefits from this interest checking account. You will also be able to use ATMs in the United States and overseas for free. With a bank deposit of $25,000 or a brokerage account and credit balance of $50,000 you avoid the $30 monthly service fee. There will be some changes to the account in the near future, however.
Wells Fargo Savings Accounts
Way2Save Savings Account:
Whenever you use your debit card, $1 is automatically transferred from your checking account to your savings account. If you meet certain transfer requirements or maintain a minimum daily balance of $300, you can avoid the $5 monthly fee. Underage primary account holders are also exempt from the fee.
Platinum Savings Account:
0.02% bonus annual percentage yield and check writing functionality. Unlimited ATM withdrawals are available for this account. You can avoid the $12 monthly service fee by maintaining a minimum balance of $3,500 a day.
3. Fill and Submit your application online or in-person
You can open a Wells Fargo bank account online in just a few minutes. Simply fill out the online form and deposit $25.When you open an account, you’ll be asked to indicate whether you want a joint or individual account. After that, you can choose a prepaid account you’re interested in and submit your application.
Pros of Using Wells Fargo
- There are a number of checking and savings options made available
- Wells Fargo offers convenience and versatility with a great network of locations and ATMs
- Local branches and online customer service are top-notch
- You can conveniently monitor your Wells Fargo account from your mobile device with the Wells Fargo mobile app
- Variety of free Budgeting tools available online
- Teens and college students are not left out, as Wells Fargo has provided accounts with competitive features for them
Cons of Using Wells Fargo
- The 2016 account fraud scandal has caused doubt
- Customers who prefer a small-town bank may be intimidated by Wells Fargo’s size
- The difficulty of waiving outrageous fees
- A low annual percentage yield on savings accounts