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Wells Fargo Portfolio checking account

Top-tier service with high minimums required.’s rating: 2.3 / 5.0


Opening a Portfolio checking account makes you eligible for discounts on loans, investment accounts and other bank services — plus a personal banker to guide you along. While the budget-conscious might balk at high minimum balances, others may appreciate the customized approach.

$30 per month





Minimum deposit to open


APY0.01% on balances of $0.10+
Fee$30 per month
To waive the fee$25,000 or more in qualifying linked bank deposits, OR
$50,000 or more in qualifying linked bank, brokerage and credit balances
Minimum deposit to open$25
ATMsOver 13,000 ATMs
ATM transaction fee$0
ATM fee rebatesThose with qualifying balances of $250,000 or more have unlimited non-Wells Fargo ATM surcharge reimbursements
Out-of-network ATM fee$0
Foreign transaction fee3%
Overdraft fee$35

How do I open a Wells Fargo Portfolio account?

Here’s how to sign up:

  1. Go to the provider’s site and follow the steps to apply.
  2. From the Wells Fargo’s website, select Personal in the upper-left corner, hover over “Banking and Cards” and select Checking Accounts.
  3. On the next page, click Compare All Accounts.
  4. Scroll until you see the Portfolio by Wells Fargo infobox. Click Open Now.
  5. First, indicate whether you’re opening a joint or individual account and if you’re already a Wells Fargo customer. Click Continue.
  6. Input personal information like your name, Social Security number and ID.
  7. Check the box at the bottom of the page consenting that Wells Fargo can make inquiries with state, federal and consumer reporting agencies to get insight into your credit and financial history — a standard part of applying to open a new account (it shouldn’t affect your credit score). Click Continue.
  8. Agree to the terms of service and confirm how you’d like to fund the account. You’ll then receive a response informing you of the next steps.


To qualify for a Portfolio checking account, you’ll need to be at least 18 years old and a US citizen.

Required information

Before applying to open a Portfolio checking account, gather:

  • Social Security number.
  • Valid US ID such as a driver’s license or state-issued ID
  • $25 for the initial deposit — pay with debit or credit card, or by transferring funds from another Wells Fargo account

What are the benefits of a checking account with Wells Fargo?

You’ll have access to Wells Fargo’s vast infrastructure, including the Wells Fargo Mobile app, which has nearly a 5-star rating in both Apple and Android stores. Wells Fargo’s debit cards come with zero liability on debit card fraud and 24/7 monitoring for fishy activity.

The Portfolio account earns APY on balances from to and 0.01% APY on $0.10 or more — a rarity for checking accounts. Other perks include:

  • Fees waived at out-of-network ATMs. Withdraw cash within the US and abroad without getting dinged for non-Wells Fargo ATM fees. Note that fees imposed by the ATMs themselves won’t be reimbursed unless you’ve got balances of at least $250,000 overall.
  • Qualify for discounts and rewards. Want to open a personal or home equity loan? Portfolio clients receive special discounts on interest rates, plus lower fees for investment services and bonus points on eligible credit cards.
  • Access to the Wells Fargo Premier Banking team. You’ll be partnered with an expert who acts as a single point of contact, assisting with everything from investing to loans to writing you a tailored financial plan.

What is Portfolio by Wells Fargo Plus?

Those with qualifying balances of $250,000 or more are bumped up into the Plus tier of Portfolio. This comes with additional perks like unlimited non-Wells Fargo ATM surcharge reimbursements, free wire transfers and free stop payment requests.

Wells Fargo’s ATM network and fees

Wells Fargo customers can find over 13,000 ATMs and 5,500 branch locations across the country by using its ATM locator online or through the app.

However, the following states don’t have any Wells Fargo ATMs or branch locations:

  • Indiana
  • Kentucky
  • Louisiana
  • Maine
  • Massachusetts
  • Michigan
  • Missouri
  • New Hampshire
  • Ohio
  • Oklahoma
  • Vermont
  • West Virginia

What should I look out for?

Portfolio rewards members who want to open multiple Wells Fargo accounts, but may not be the right fit for those looking for a one-off or basic account. Other potential drawbacks include:

  • High balance needed for eligibility. By the end of the second statement period, you’ll need $10,000 in combined balances — including eligible linked accounts — to maintain your Portfolio status.
  • Service fees. A $30 monthly maintenance fee can only be waived with $25,000 or more in linked deposits, or at least $50,000 in linked bank, brokerage and credit balances.
  • International debit card fees. You’ll be charged an extra 3% on top of every transaction each time you swipe the debit card overseas.

Compare with other checking accounts

Name Product APY Minimum deposit to open ATMs Out-of-network ATM fee Offer
HSBC Premier Checking
Finder Rating: 2.7 / 5: ★★★★★
HSBC Premier Checking
0.01% on balances of $5+
Free to use at all ATMs in the US
Get a $500 welcome bonus when you open your account with qualifying activities. Must open HSBC Premier checking account through offer page by February 15, 2023, and set up qualifying direct deposits into the new account totalling at least $10,000 per month for three consecutive months. Conditions apply. Deposit products are offered in the US by HSBC Bank USA, N.A. Member FDIC.

HSBC Premier Checking offers free global transfers and 24/7 customer support.
Aspiration Spend & Save Account
Finder Rating: 4.2 / 5: ★★★★★
Aspiration Spend & Save Account
5.00% on balances of $0 to $10,000
3.00% on balances of $0 to $10,000
55,000+ free Allpoint ATMs worldwide
Deposits are fossil fuel-free and insured by the FDIC. Enjoy a spend and save combo account with unlimited cash back rewards.
Finder Rating: 4.7 / 5: ★★★★★
55,000 AllPoint ATMs around the world for free
Earn $30 bonuses every time a friend signs up for an account and deposits at least $20 in one transaction
No monthly fees. No foreign transaction fees. No fees at 55,000+ Allpoint ATMs.
Chime Checking account
Finder Rating: 4.7 / 5: ★★★★★
Chime Checking account
60,000+ fee-free ATMs
Get rid of fees with this financial app offering consumer-friendly accounts. Chime can also help you save easily and access your paycheck faster.
Axos Bank Rewards Checking
Finder Rating: 4.2 / 5: ★★★★★
Axos Bank Rewards Checking
1.25% on balances of $0 to $50,000
ATM fees reimbursed at any ATM nationwide
Earn up to 1.25% APY while enjoying a suite of digital tools for smarter money management.
BMO Harris Smart Money™ Account
Unlimited transactions at 40,000+ ATMs nationwide
Get a $300 cash bonus when you open a new account and have a total of at least $4,000 in qualifying deposits within the first 90 days. See terms and conditions
You’ll pay no monthly maintenance fee if you are under 25. It also offers no overdraft charges and no non-sufficient fund (NSF) fees.

Compare up to 4 providers

How do I deposit or withdraw my money?

Options for depositing money into your Portfolio account include:

  • Direct deposit. Automatically add funds to your account by linking your routing and account number with your employer.
  • Mobile deposit. Use Wells Fargo’s mobile deposit feature to snap a picture of your check for electronic deposit.
  • In-person deposit. Connect with a teller at a branch location.
  • ATM deposit. Submit up to 50 bills or 30 checks to a Wells Fargo ATM for automatic deposit.
  • Electronic transfer. Move money from one account to another, whether through a wire transfer or your online account.

Withdrawing funds from your Wells Fargo Portfolio checking account can be done at the following spots:

  • ATM. Visit one of over 13,000 nationwide ATMs to access cash.
  • Branch location. Get exact change and face-to-face service at a Wells Fargo Branch location.

You can also transfer money out of your Portfolio checking account electronically if you’re moving funds to a savings account, for example.

What other checking options does Wells Fargo offer?

Wells Fargo has a wealth of options to fit different lifestyles and financial situations. All of its checking accounts require a $25 minimum deposit to open:

  • Wells Fargo Everyday Checking. The $10 monthly fee is waived for young adults ages 17 to 24, making it ideal for students. Though there are four more ways to waive fees for those 25 and above.
  • Wells Fargo Preferred Checking. Waive the $15 monthly service fee by maintaining $10,000 in combined balances or by direct depositing more than $1,000 per statement cycle.
  • Wells Fargo Clear Access Banking. You’ll never pay nonsufficient funds (NSF) fees with this account, and kids between the ages of 13 and 24 won’t have to pay a monthly fee either.
  • Wells Fargo Opportunity Checking. Individuals with low or troublesome credit might be offered this account at a branch location if they don’t qualify for other options.

Bottom line

Wells Fargo offers full-service support with its Portfolio checking account. But if you’re looking for a more basic account or smaller minimum balance requirements, compare checking accounts to find one that suits your situation.

Frequently asked questions

Checking account ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top checking accounts and rate them one to five stars based on factors that are most important to you. These factors include: monthly fees, the ease at which monthly fees can be waived, the breadth of ATM access, ATM and overdraft fees, and customer service.

Read the full methodology of how we rate checking accounts.

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