Wells Fargo Clear Access Banking review

How do I open a Wells Fargo Clear Access account?

If you’re under 18 — or 19 in Alabama — you must visit a branch to open an account. Otherwise, you can open an account online in a few minutes:

1. Go to the provider’s site and follow the steps to apply.
2. From the Provider site, select Banking and Credit Cards, then Checking Accounts.
3. Select Compare All Accounts, then choose Open Now under Clear Access Banking.
4. Select whether you’re opening an individual or joint account and whether or not you’re an existing Wells Fargo customer, then select Continue.
5. Fill out the About You form and select Continue.
6. Choose the type of debit card you would like and whether you want to open a Wells Fargo savings account.
7. Select the source of your initial deposit, review your responses and read and accept the terms.

What are the benefits of a Wells Fargo Clear Access Banking account?

Once your Clear Access Banking account is open, you can take advantage of the following benefits:

• No overdraft or NSF fees. Any purchase that brings your teen’s balance below $0 is automatically denied, which means they can learn to manage money without being dinged for mistakes.
• No monthly fees for teens and young adults. If you’re 13 to 24 years old, you won’t pay a monthly fee. But if you’re 25 and older, you’ll no longer qualify for a fee waiver will have to pay $5 a month.
• 24/7 customer service. You or your teen can contact customer service at any time if you have questions or concerns about your account.

Wells Fargo’s ATM network and fees

You can access your Clear Access Banking account from any of the more than 13,000 ATMs in Wells Fargo’s nationwide network. And if you add your account to a digital wallet, you can use Wells Fargo ATMs with your smartphone instead of your debit card. Wells Fargo charges $2.50 for using domestic ATMs outside of its network, and the bank charges a $5 fee for using ATMs outside of the United States.

What should I look out for?

There are a few drawbacks to consider before opening a Clear Access Banking account:

• No check-writing privileges. Unlike other checking accounts, Clear Access Banking doesn’t support check-writing capabilities.
• No interest. Some teen checking accounts, like Axos Bank First Checking and Alliant Credit Union Free Checking, earn a modest interest rate to reward your teen for developing good money habits, but this one doesn’t.
• May have to open in person. If your teen is between the ages of 13 and 17, you and your child must visit a local branch to open this account. But if they’re 18 or older, they can open the account online.

Wells Fargo Clear Access Banking reviews and complaints

Wells Fargo doesn’t have many fans on the Better Business Bureau (BBB) or Trustpilot. It earns an F rating with the BBB. As of July 2022, it holds a 1.08 out of 5-star BBB rating based on 571 customer reviews and has a whopping 4,491 complaints lodged against it in the last three years. Its Trustscore is along the same vein, coming in at 1.3 out of 5 stars based on nearly 747 reviews.

Most reviews aren’t about its Clear Access account specifically, although we found that one customer was ecstatic about how his Wells Fargo Clear Access Banking account seamlessly transitioned into a regular checking account. The majority of feedback centered on its customer service. Some customers praise how the bank handles issues, including incorrect charges, while others had frustrating experiences with representatives on the phone and at their local branches.

Compare Wells Fargo Clear Access Banking with other kids accounts

If Wells Fargo isn’t the right fit, take a look at a few other options with assorted interest rates and monthly fees.

Wells Fargo Clear Access Banking

★★★★★

Finder rating 3.5 / 5

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Fee

$5 per month
(can be waived)

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Annual Percentage Yield (APY)

N/A

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Minimum deposit to open

$25

GoHenry

★★★★★

Finder rating 4.3 / 5

Go to site

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Fee

$4.99

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Annual Percentage Yield (APY)

N/A

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Minimum deposit to open

$0

Axos Bank First Checking

★★★★★

Finder rating 3.5 / 5

Go to site

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Fee

$0

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Annual Percentage Yield (APY)

0.10%

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Minimum deposit to open

$50

How do I deposit or withdraw my money?

There are several ways to move money into and out of your Clear Access Banking account.

What other checking options does Wells Fargo offer?

Aside from the Clear Access Banking account, Wells Fargo also offers these checking accounts:

• Everyday Checking. This account for young adults aged 17 to 24 includes check-writing privileges and waives the $10 monthly fee for anyone under the age of 25, but it has a $35 overdraft fee.
• Preferred Checking. This checking account lets you earn interest on your balance and waives the $15 monthly fee if you have a Wells Fargo Home Mortgage, monthly direct deposits totaling at least $1,000 or more than $10,000 in combined minimum deposit balances.
• Portfolio by Wells Fargo. This account offers favorable interest rates, and although there’s a $30 monthly fee, you can avoid it by having $25,000 or more in linked bank deposits or at least $50,000 in combined bank, brokerage and credit balances.
• Business Checking. Wells Fargo offers three types of business checking accounts — called Initiate, Navigate and Optimize — that each offer varying features based on your business’ needs.

Frequently asked questions

• Are there any fees associated with Wells Fargo Clear Access banking accounts?

  Yes. Aside from charges for using non-network and international ATMs, Wells Fargo will charge you $5 for money orders, $10 for cashier’s checks, $12 for returned checks/deposits and $15 for incoming domestic wire transfers.

Wells Fargo Clear Access Banking is not currently available on Finder

Have you considered SoFi Checking and Savings?

Earn up to 4.60% APY on savings by meeting deposit requirements, and 0.50% APY on checking balances. Members without deposit requirements will earn 0.50% APY on both savings and checking balances. Turn on automatic savings or use the Roundups feature to help you reach your savings goals faster. Get up to $2M of additional FDIC insurance through a network of participating banks.

• 0.50% APY on checking balance
• Up to 4.60% APY on savings
• $0 account or overdraft fees
• Get a $300 bonus with direct deposits of $5,000 or more

Learn more

No thanks, compare other checking account options.