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Wells Fargo is a very known bank and lender, while the opportunities they provide are great they come with lots to them. They charge monthly and annual fees on just about everything and those can add up quickly. They charge a $5 monthly fee just to keep a savings account.Good Financial Cents® Official Site - Goodfinancialcents.comWells Fargo Review | Business or Personal Banking and LendingLast modified by Jeff Rose, CFP® onJune 19, 2019[Whether you are looking for a checking account, a savings account, a combination of the two, or some other kind of personal banking product like a line of credit or certificate of deposit, your choice of the bank will make a significant difference.You need to find a bank that is right for your specific needs. Wells Fargo offers a wide range of banking products and services geared to meet the needs of different people and businesses.Let’s explore what Wells Fargo is all about, so you can decide whether or not it is the right bank for you.WELLS FARGO OVERVIEWWells Fargo Bank opened its doors to clients on March 18, 1852. Headquartered in San Francisco, California, it is the third-largest bank on market capitalization in the United States.The bank boasts total assets of about $2 trillion and is publicly traded on the New York Stock Exchange under the abbreviation WFC.Wells Fargo Bank provides banking, investing, mortgage, insurance, and credit cards as well as consumer and commercial financial services.It offers retail customers checking accounts, savings accounts, and CDs, as well as investment products, individual retirement accounts (IRAs), and financial advisors.Additionally, Wells Fargo offers nationwide access with over 13,000 ATMs and about 6,000 branches across the country.That said, let’s explore the banking and loan products that Wells Fargo Bank has to offer.That said, let’s explore the banking and loan products that Wells Fargo Bank has to offer.WELLS FARGO BANKING PRODUCTSWells Fargo offers a wide selection of banking products, including savings and checking accounts—but are Wells Fargo’s accounts right for you?Wells Fargo Checking AccountsThere are several options for Wells Fargo checking accounts that you can choose from. Each of the accounts comes with a Platinum Debit card equipped with chip technology.You also get to enjoy round-the-clock customer service and text-based banking with any of the accounts.Those account types include:Everyday Checking – You need just a small deposit to set up a Wells Fargo Everyday Checking account. You’ll need to pay monthly service fees for this account. However, the fees can be waived if you meet certain conditions such as making a given number of credit/debit purchases or carrying a given monthly balance.Preferred Checking – With a Preferred Checking account, your money can earn interest on the condition that you meet the minimum balance requirement. Moreover, if you have a mortgage with this bank, you won’t pay the monthly service fee for this account. This account also offers you budgeting and cash flow tools.Portfolio Account – If you have a lot of cash to keep in your checking account, you stand to earn higher interest rates with the Portfolio by Wells Fargo account. In fact, the interest rate increases as you deposit more money into your account.The portfolio account offers you a range of other benefits, including:Interest rate discounts – on Wells Fargo loansWaived ATM charges – for non-Well Fargo transactionsNo overdraft protection transfer feesOpportunity Checking – If no bank is willing to offer you a traditional checking account, a Wells Fargo opportunity checking account would be your ideal option. You’ll get to enjoy lower balance requirements, mobile baking, and waived monthly fees.Teen Checking – If you have kids between the ages of 13 and 17, you can open checking accounts for them, but you’ll co-own the account with them. This type of account features tools that are geared to teach teens financial responsibility.Wells Fargo Savings AccountsLow-interest rates and monthly fees characterize Wells Fargo savings accounts. The bank offers a number of savings account types, which include:Way2Save Savings – if you’re not disciplined when it comes to saving, you can benefit from the Way2Save program. This program works by automatically transferring $1 to your savings account every time you make a qualifying purchase with your linked Wells Fargo checking account.Platinum Savings – If you have a significant amount of money in your savings account, the cash may qualify for higher interest rates with the Platinum Savings. Despite being a savings account, Platinum Savings also allows you to write free checks. That means you can easily access your money.Certificate of Deposits (CDs) – If you can keep your money for a considerable period, the cash can earn the highest interest rates from Wells Fargo CDs compared to other deposit products.Wells Fargo Loan OptionsWells Fargo also offers a number of loan options, including the following:Home mortgages – Whether you want a 15-year, 20-year, or 30-year mortgage, Wells Fargo has got you covered. The bank also offers jumbo loans and adjustable-rate mortgages.Home-equity lines – Wells Fargo can lend you money to make home improvements. You can as well put your home’s equity to work and get some cash flow.Personal Loans – Wells Fargo can lend you an unsecured personal loan of $3,000 to $100,000.Auto loans – Wells Fargo can help you purchase a used or new car from a dealer. It can also facilitate a private party purchase or a lease buyout. The bank offers affordable interest rates and up to 72 months of the repayment period for auto loans.Student loans – Wells Fargo can finance up to 100 percent of your education expenses. You have to be in undergraduate or graduate school to qualify for a Wells Fargo student loan.Credit Cards – Wells Fargo offers a variety of credit options, including secured cards if you wish to build your credit history.SHOULD YOU BANK WITH WELLS FARGO?What We Like About Wells Fargo BankA vast network of ATMs – The over 13,000 ATM can help you avoid paying exorbitant fees at non-Wells Fargo ATMs.Offers a second chance – If you’ve suffered a financial crisis, Wells Fargo gives you a chance to recover from the crisis and redeem yourself financially.Automatic online bill payment – This tool can help you avoid late payment of bills and its related effects.Debit card zero liability protection – This feature helps to protect you from fraudulent transactions on your debit card.Check deposit via smartphone – All you need to do is send a picture of the back and front of your check to the bank.Text alerts – If you don’t have a smartphone or PC, you can simply text command regarding your bank account to 93557 and get a response immediately.Mobile Wallet services – Wells Fargo works perfectly with Apple Pay, Google Pay, and Samsung Pay. The Wells Fargo app also allows you to use your Wells Fargo Wallet for increased convenience when it comes to making payments.24/7 fraud monitoring – Wells Fargo checks your account round-the-clock for suspicious activities and alerts you if anything unusual is detected. This ensures that you are protected against identity theft or fraudulent transactions of your account before you even notice it.What We Don’t Like About Wells Fargo BankWhat We Don’t Like About Wells Fargo BankLow-interest rates – Your money will earn little interest, thanks to Wells Fargo’s minimal interest rates. You may need to find another bank if you’re looking for higher interest rates.Strict conditions for the monthly service fees waiver – Wells Fargo has quite high minimum daily balance requirements that you should meet to enjoy the monthly service fee waiver.Wells Fargo charges for overdraft protection – You’ll need to pay some fees if you link your credit or savings account to your checking account. If the bank advances cash to your checking account to prevent an overdraft, you will be charged for every transfer.IN CONCLUSIONWells Fargo is one of the best banks in the United States. When you bank with them, you will get access to a wide range of valuable features geared to give you a pleasant and stress-free banking experience.You’ll enjoy banking in person at over 13,000 Wells Fargo ATMs and about 6,000 branches spread across the country.You can also complete your transactions on the go or from the comfort of your home, thanks to Wells Fargo Mobile and Wells Fargo Online.The major disadvantage of Wells Fargo Bank is its combined low-interest rates and high fees. With these factors in mind, you should be able to make an informed decision on whether or not to bank with Wells Fargo.]