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finder.com’s rating: 3.0 / 5.0
★★★★★
The Wells Fargo Opportunity Checking account can help you get back on track by managing an account that allows you to pay your bills, write checks and use a debit card. But you won’t be able to open it unless your application for a standard Wells Fargo checking account is denied.
$10 per month
Fee
N/A
APY
$25
Minimum deposit to open
APY | N/A |
---|---|
Fee | $10 per month |
To waive the fee | Do any ONE of the following: • $1,500 minimum daily balance • OR Direct deposits totaling $500 or more • OR 10 or more posted debit card transactions (any combination of posted debit card purchases or posted debit card payments of bills) from this checking account |
Minimum deposit to open | $25 |
ATMs | over 13,000 ATMs |
ATM transaction fee | $0 |
Out-of-network ATM fee | $2.50 |
Overdraft fee | $35 |
Nonsufficient funds fee | $35 |
Review by
Peter Carleton is a writer that covers banking and investing, breaking down what you need to know about where you put your money. When Peter's not thinking about cutting-edge banking apps and robo-advisors, he runs a creative agency and spends his spare time cooking or reading.
The Wells Fargo Opportunity Checking account is designed for those who don’t qualify for traditional checking accounts. Unlike other second-chance products, this one comes with standard account features and ways to waive the monthly fee.
But you can’t open this account directly. To open it, you’ll first need to apply to another Wells Fargo checking account. If you’re denied, you’ll be eligible to apply for this second-chance account.
You can’t open the Wells Fargo Opportunity Checking account directly. You’ll be offered it as an alternative after being denied for a regular checking account. Start by applying for another Wells Fargo checking product:
In order to open this account, you’ll need to meet basic eligibility requirements:
You’ll be asked for the following information during your application:
While most second-chance accounts have mandatory fees, there are three ways to waive this account’s monthly fee:
As with most second-chance accounts, you can’t apply for the Wells Fargo Opportunity Checking account directly, and the bank may close your account if you overdraft or can’t pay the monthly fee. Aside from these general cons, there are a few things to watch out for:
If you prefer a second-chance account with different features, compare your options until you find one that’s right for you.
Wells Fargo is vague about upgrading to a regular checking account, but other customers have mentioned the following details:
Generally, Wells Fargo will monitor your account activity to make sure you’re using the account responsibly. The bank will eventually reevaluate your activity and usage to determine if you’re eligible for a standard checking account.
Here are all the ways you can access funds in your Wells Fargo Opportunity Checking account:
There are a few ways you can get in touch:
★★★★★ — 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.
Wells Fargo Opportunity Checking is not currently available on Finder
Have you considered BMO Harris Smart Advantage Account?
Earn a $200 cash bonus after $4,000 deposits in the first 90 days. Pay $0 monthly fees and no minimum balance. Access a large nationwide network of free ATMs.