Get Bank Statement Example Wells Fargo 2020-2024

The main drawback we see with Wells Fargo are the low APYs on most accounts — if you're looking to earn money through interest, this is not the bank for you. Wells Fargo should also be avoided by people who struggle with overdraft fees. The standard overdraft fee is $35 at a max of three a day.

Advisory services Wells Fargo & Company provides financial services in Europe through its subsidiaries. Banking services are provided through Wells Fargo Bank International UC (WFBI) and Wells Fargo Bank, N.A. London Branch (WFBNA LB).

Wells Fargo is among the top five banks in the United States. The bank makes money by lending out at a higher rate than it borrows. Wells Fargo operates four segments including Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.

The CFPB fined Wells Fargo $100 million on September 8, 2016, for the "widespread illegal practice of secretly opening unauthorized accounts." The order also required Wells Fargo to pay an estimated $2.5 million in refunds to customers and hire an independent consultant to review its procedures.

Fortunately for consumers, there are thousands of financial institutions that are FDIC-insured, including Wells Fargo. FDIC insurance limits cap at $250,000. The FDIC insures certificates of deposit and money market accounts, along with traditional checking and savings accounts.

Wells Fargo paid $3 billion in February 2020 to settle federal civil and criminal probes, admitting at the time that it pressured employees between 2002 and 2016 to meet unrealistic sales goals, which led them to open accounts for customers.

Is Wells Fargo a good bank? Wells Fargo is comparable to other national banks in that it has similar features: large ATM and branch networks, low savings rates and high overdraft fees. It can be convenient to bank at Wells Fargo, especially if you have a mortgage or other account there.

Which Bank Is Better: Chase or Wells Fargo? With 4,000 more ATM locations than Wells Fargo, reduced fees and a wider variety of welcome bonuses, Chase is a better option for most customers.