Wells Fargo Way2Save Savings Account review

Savings account for private customers that allows you to obtain a return on your money without a minimum or maximum limit, being able to have your money when you need it.

The $5 monthly fee is very easy to avoid by maintaining a balance of at least $300 or by scheduling an automatic transfer each month.


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Commissions
Account management: $ 5 that can be easily avoided.
Check deposit: $ 0
Check writing: $ 0 No checkbook.
Transfers: $ 0
Profitability
APY: 0.15%
Rate of interest: Fixed
Interest settlement: Monthly
Advantage
Checkbook: No checkbook
Requirements
Minimum deposit: $ 25

Additional information of Way2Save Savings Account

Way2Save Savings AccountWith the Wells Fargo Way2Save Savings account, you can easily save without realizing it, since it incorporates the Save As You Go Transfers system, which deposits a dollar from your checking account each time you make a non-recurring purchase with your debit card or each time you use the Wells Fargo Online payment service.

It also incorporates overdraft protection for the linked Wells Fargo checking account, which allows you to transfer balance from your savings account to prevent your checking account balance from going negative.

This interest-bearing account charges a $5 monthly fee that you can save by simply ordering an automatic monthly transfer or by maintaining a balance of at least $300. You will not pay either if you are the owner and you are under 25 years of age.

The account can be opened with a minimum deposit of $25 and pays the balance from the first dollar.

The only downside of the Wells Fargo Way2Save savings account is that the interest rate is currently low (only 0.15% APY), so if you want to achieve an acceptable return, it is better to opt for other products, such as Platinum Savings account or certificate of deposit (CD)

En español: Cuenta Way2Save Savings