U.S. Bank vs. Wells Fargo
Compare two huge brick and mortar banks to find out which is best for you
Pros and cons of U.S. Bank vs. Wells Fargo
U.S. Bank
Pros
- Lower fees. U.S. Bank‘s monthly fees and some service fees are lower than Wells Fargo‘s.
- Smaller CD deposits. U.S. Bank requires $500 to open a CD, while initial deposits compared to Wells Fargo‘s $2,500 minimum.
- Established bank. U.S. Bank is on the Fortune 500’s list for more than 20 years, earning it financial security to back your deposits.
Cons
- Limited branches. U.S. Bank is only located in 28 states, limiting your face-to-face banking.
- Low rates. APYs for savings and money market account ranges from a low 0.01% to just 0.10% for a $5,000 balance.
- Hard to avoid fees. While U.S. Bank‘s fees are lower, it’s harder to waive them.
Wells Fargo
Pros
- Huge ATM network. Wells Fargo has more than 13,000 ATMs in over 40 states, a much larger network than U.S. Bank.
- Higher APY. Wells Fargo‘s standard CD rates go as high as 0.50% for a $5,000 minimum deposit, and 0.25% APY on its Platinum Savings account.
- Easy to avoid fees. Wells Fargo accounts charge monthly fees, but you get many ways to waive them.
Cons
- Larger CDs deposit requirements. You’ll need $2,500 to open a Wells Fargo CD.
- Higher fees. Make sure you read the fine print. You could find fees for monthly maintenance, transfers and overdraft charges.
U.S. Bank vs. Wells Fargo savings accounts
Winner: Wells Fargo
U.S. Bank vs. Wells Fargo checking accounts
Winner: Wells Fargo
U.S. Bank vs. Wells Fargo certificates of deposit
Winner: U.S. Bank
U.S. Bank vs. Wells Fargo other products
Other banking products that these big banks offer include:
- Personal and student loans
- Auto, boat and RV loans
- Home loans and refinancing
- Credit and reloadable cards
- IRAs and 401(k) plans
- Small business and commercial banking
- Brokerage accounts
- Military banking
- Student and senior banking
- Foreign exchange
- Financial advising
U.S. Bank
- Personal and student loans
- Car loans
- Home loans and refinancing
- Credit and reloadable cards
- IRAs and 401(k) plans
- Small business and commercial banking
- Brokerage accounts
- Student and military banking
- 529 and college savings
- Foreign exchange
- Financial advising
Wells Fargo
U.S. Bank vs. Wells Fargo branches and ATMs
Both banks have 24/7 customer service, but Wells Fargo has a much larger network of branches and ATMs.
U.S. Bank | Wells Fargo | |
---|---|---|
Branches | 3,000 | 6,000 |
ATMs | 4,700 | 13,000 |
Customer service |
|
|
U.S. Bank vs. Wells Fargo special features
Despite these banks’ similarities, they each have features that make them stand out from their competition:
U.S. Bank |
|
Wells Fargo |
|
Winner: Tie
Bottom line
U.S. Bank and Wells Fargo have been in business for decades, both with a wide range of banking options. U.S. Bank has more options for CDs, whereas Wells Fargo offers a much larger branch and ATM network and more ways to avoid fees. Compare accounts from both or explore other banks to find an account that’s right for you.Frequently asked questions
More guides on Finder
-
Should I prioritize saving or paying off debt?
There are times when paying off debt makes sense, but you’ll need a decent savings all the time.
-
Soft saving
Will the soft saving trend hurt your financial future?
-
11 debit cards that build credit
Debit cards and similar cards that can help build credit with little to no risk include: Extra, Fizz, Current, Chime, Step, Varo and more.
-
AI Anxiety Index: Are you worried about AI replacing jobs?
Finder’s AI Anxiety Index takes a pulse of US households on how concerned they are about AI replacing jobs.
-
Best business bank accounts for LLCs
Find the best business bank accounts for LLCs with low fees, software integrations and extra perks like ATM reimbursements.
-
Best online banks
Ally Bank wins the best overall online bank of 2023. Other best online banks on our list are UFB Direct, Raisin, Quontic, Chime and others.
-
Compare 3-way joint bank accounts
You can open a joint bank account with three or more people. Learn how it works, how to sign up and what risks to be aware of.
-
23 best bank account bonus offers for November 2023
See an up-to-date list of the best bank bonus offers for checking and savings accounts. See how to earn up to $300 by opening a new account.
-
What’s a minimum balance and deposit requirement?
Find out how minimum balance or deposit requirements affect your savings, checking and CD accounts in this comprehensive guide.
-
14 best banks and credit unions in the US
The best banks let you choose from several offerings that help you grow and manage your hard-earned cash.
Ask an Expert