Your mobile carrier's message and data rates may apply. Banking Accounts and Services. Loans and Credit Accounts and Services. Investing and Retirement Our Investing Services. Wealth Management Wealth Services. Rewards and Benefits Explore Rewards. Comienzo de ventana emergente. In addition, this account offers free overdraft protection for your checking account. Simply link your accounts and Wells Fargo will automatically cover any overages from your checking account by using the funds from your Way2Save account.
While the savings rate on this Wells Fargo Savings account is not as high as other online savings accounts, it can be a great option for anyone who finds it difficult to save money. The account is a suitable backup to your Wells Fargo checking account because it provides a combination of automatic monthly transfers and free overdraft protection. Despite the hassle-free savings approach of the Wells Fargo Way2Save savings account, other online savings accounts give a better return on your money.
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The APY Annual Percentage Yield is a percentage rate that reflects the total amount of interest paid on the account, based on the interest rate and the frequency of compounding for a day period. Your account statement will include the APY earned on your savings accounts and interest-earning checking accounts for the period covered by the statement.
With a Way2Save Savings account, you can save automatically when you link your savings account to a Wells Fargo checking account. Then, choose from a variety of automatic savings options that fit your needs. Make an appointment or call us at Availability may be affected by your mobile carrier's coverage area.
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In addition to deposit accounts and credit cards, Wells Fargo also offers the following products and services to its customers:. Customers can reach Wells Fargo customer service agents in a variety of ways, including:. Wells Fargo also offers a highly-rated mobile app that allows you to conduct your banking business on the go.
Beginning in , a seemingly endless series of scandals beset Wells Fargo: the creation of phony accounts , the unauthorized purchase of insurance policies for clients , improper auto-loan and mortgage practices , and the alteration of customer data , which were only admitted to after investigations by journalists and regulators.
Wells Fargo has paid billions in government fines, criminal and civil lawsuit settlements, and restitution to injured parties. Nevertheless, it seems likely that the revelations of the bank's malfeasance continue to tarnish its image in a skeptical public's eyes. According to the J. Potential customers can open a new Wells Fargo account online or in a bank branch.
Applying for an account online also provides an instant application status response. Once you are set up with a Wells Fargo account, you can take care of your banking needs online and with the mobile app.
Customers looking for a well-established and well-rounded financial institution may do well with Wells Fargo. Not only does this bank possess a large geographic footprint, but it also has every type of account, product and service you may need — a true one-stop banking shop. Add in the fact that you can enjoy some relationship bonuses for linking multiple accounts or products under the Wells Fargo umbrella and this institution is a clear winner for anyone who values efficiency and streamlined banking experience.
That said, Wells Fargo has not yet earned back the public's trust after the revelations from to , of a series of systemic fraudulent practices that victimized its own clients for nearly two decades.
Unless Wells Fargo can offer more tempting interest rates or find other ways to distinguish its products, its dented reputation — coupled with lackluster rates — makes it a less-enticing option for anyone who is not looking specifically for convenience. Investopedia is dedicated to providing consumers with unbiased, comprehensive reviews of banks.
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