"Wells Fargo" Looking For A Bank That Has It All? Then Maybe For You.
Written: Sep 04 '09 (Updated Sep 12 '09)
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Product Rating:
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Pros: Convenient locations, on-line banking, and the amount of services they offer.
Cons: Some fees are to high for what they offer and smaller branches are not professional.
The Bottom Line: If your looking for a bank that can handle your multiple banking needs then check them out. If not, look around first.
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| Pandemonium's Full Review: Wells Fargo |
Unfortunately throughout my banking years I have had to try quite a few different ones in my time. I am extremely picky when it comes to what bank I use and even more stingy when it comes to what their policies are like. I have been banking with Wells Fargo for over 4 years now and do like what I have seen so far. I may not agree with every policy on every service they offer but, for what I have used the bank for I have little complaints.
Wells Fargo is an extremely large banking service that has been around for over 100 years. They have every service you maybe looking for from a bank. From the basic checking and savings account, to mortgages, brokerage accounts, investments, credit cards, loans, and more. No matter if you're looking for a personal, small business, or commercial account they have services for you. They also have many locations all over most of the United States including Hawaii and Alaska. They have even expanded out the United States now. If you got their website, wellsfargo.com, and click an option you will get a list of each available state or province they are located. Just click on yours and you will be seeing what the bank there has to offer you. I live in a pretty small city and there 3 separate large branches that are placed well no matter where I am in the city. They even have a couple of very small branched located inside of a Safeway.
The first thing I liked when was looking into them was their no monthly fee checking account and no minimum balance. This varies if you are looking into a more premium account. There savings account service is a little different. There is a small $3 fee for the basic one if you don't keep a minimum balance of $300 but, they offer some pretty easy ways you can get this waived if you sign up for another service. For example, if you get their Direct Deposit service they waive this $3 fee per month as long as you don't take off the Direct Deposit service. Another way is, if you deposit $25 from another Wells Fargo account they will also waive this fee for that month. If you look to get a credit card through them there interest rates are pretty much the normal bank average. To me, this is a little steep, but of course, depends on your credit and vary where you live. For a bank this large, there basic services are not bad at all and I like what I receive banking through them for these services.
Their check/debit card is good and bad. You can do a lot of things using your check card but, can end up paying a pretty high price doing so. There are a lot of Wells Fargo and Wachovia ATM machines abroad and you best better use one if you want to pull cash out of your account. Their fees are pretty steep if you don't and on top of the ATM fee from the machine you are using can get rather expensive in a hurray. You can check your balance, transfer money from one account to another that are linked to your card (at a Wells Fargo ATM), and make purchases anywhere that accepts Visa. And they do offer some reward programs. Still, the fees are pretty high so you just need to use the card wisely or you will see money start slipping through your fingers in a hurray.
Customer Service:
I have to do a lot of dealings with Wells Fargo face to face or over the phone since I have banked with them. I have never had a complaint with a customer representative. The branch I go to have friendly employees that seem to be more laid bank then other banks. They are all business but, will smile and joke with you if you joke with them first. However, when I go to a small branch (the one located in Safeway) they don't seem to quite as friendly or knowledgeable. Makes me think that their employees start out at one of these branches before going to a larger outside one. The dealings I have had over the phone has been nothing but smooth. They all have been able to answer any question I have had to ask, without asking a superior, and their answers are to the point. Overall, the complaint I have is the dealings I have had to do in the smaller branches over the larger ones.
Online Banking:
The biggest things I look for in a bank with their online service is the time it takes of each transaction and how easy the website is to navigate through. So far I have had no problems with account going on line through them. When you arrive at the website you are taken to your "Account Summary" page. This gives you a quick view of your available balance and your savings account balance if you have one. Clicking the "Account Activity" button at the top brings you to a more complex layout of your account. After you make a debit card purchase it will show up online almost instantly. Of course the money will be taken out of your available balance and it will show "pending" until it is confirmed. When a check is processed, it will have a "check image" on your account page as soon as it has cleared through the bank. it will show you a check number that is a link. Once you click that link you will see a front copy of your actual check. This is really nice in case you ever need to print a copy if you have to show proof or have any other trouble with a certain check. It saves you the time and hassle of having to go down to your bank and ask for a copy which can take a while. I have been there. There are many other nice little features like location maps and ATM machine locations you can quickly look at in your area code.
They have a nice "Bill Pay" option for $6.95 per month that you can have up to 25 bills (more if you wish for a small added fee) automatically taken out of your account. I like this option myself so I never have to worry about certain bills being paid and on time. If you need to do your banking while not at your computer they have that option now that you can do your online banking Mobile by texting. There is even a separate website for that. I have not tried this myself but, just letting you know you can. You will get E-mail messages at your own E-mail account and a built in one at the site if there is anything outstanding or doesn't look right on your account. Their online banking is easy to understand, informative, and navigate.
Conclusion:
Wells Fargo may not be a bank for everyone. They do offer a lot of services and can appeal to all different kinds of people who use their banks for different reasons. However, there maybe better ones out there for you if you look hard enough. They maybe a little steep on their fees and costs for some of their different services but, they are convenient since you can use all of these services from one bank. As the saying goes "You pay for convenience". I would not be so quick to recommend them to someone that is looking for a bank just to use for a checking and savings account. If your someone looking to do a lot more with your bank, then I would recommend giving them a look at. Just make sure you take the time and look deep into all the fine print to make sure they are what you are looking for. It will all come down to what you really are going to use Wells Fargo for.
Thank you for reading and if you have any questions feel free to ask.
A related review for online bankers if your interested.
Pay Pal
Recommended:
Yes
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Pandemonium
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In my little corner of Epinions relaxing, sipping beer, playing a game, listening to music.
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