3/27/2023
Wells Fargo is one of the largest financial institutions in the United States and has branches in most states, so you're sure to find one near you.
Opening an account with Wells Fargo is a fairly simple process, which you can do either from their branches or online using their website or mobile app.
Here we tell you how to go about the process of opening a checking or savings account, the requirements you must meet for them to accept your application and the information and documentation you must provide.
What are the requirements for Wells Fargo accounts?
The requirements to open an account at this financial institution are very simple to meet, you just need to have the following items:
- A Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN).
- A valid and current identification document, such as a state ID, driver's license, passport, permanent resident card or work permit.
- You may also be asked for a secondary ID, such as a student ID, employee ID, credit card in your name, or an ID from a company or state agency.
- An initial deposit of at least $25 to be credited to the account at the time of opening.
How do I open an account with Wells Fargo?
The process of opening a checking or savings account with this financial institution is uncomplicated and can be done online or at their offices. In both cases you will need to provide the following information:
- If you are going to open an individual or joint account.
- Personal and contact details, telephone, email, as well as your address where you live and your occupation (student, employee, pensioner, unemployed, etc.).
- Indicate if you are subject to withholdings on interest received and if you have a W9 form of taxpayer certificate.
Open an account online
You can apply for one of the checking and savings accounts offered by Wells Fargo through its website by selecting the one you want and clicking on the "Open it now" button.
The process is easy, but if you have any problem or doubt, you can call the customer service phone number to solve it: 800-869-3557.
Open an account at a branch
If you prefer to do the process in person, you can go to one of Wells Fargo's branches and contact an agent who will open the account for you in a few minutes. Remember to bring the documentation indicated above and the $25 for the initial deposit.
How do I open an account if you are a foreigner?
If you do not have U.S. citizenship or a permanent resident green card, you will not be able to open an account online.
You will need to go to a bank branch and provide the necessary documentation, such as a work visa or any foreigner's document that proves your legal residency in the United States.
How to switch your account from another bank to Wells Fargo?
If you have a checking account at another financial institution and you want to move it to Wells Fargo, the process is as follows:
- Open your Wells Fargo account by following the steps above.
- Review your statements from your account at another bank to find all the automated fees and payments that are being applied to your account and transfer them to the new account.
- Transfer any remaining balance to your Wells Fargo account, either by wire transfer or by withdrawing the cash and depositing it at an ATM or teller.
- Finally, close the account at the other bank.
If you are not sure whether to switch to this entity, you can see a more in-depth analysis of the advantages and disadvantages offered by the bank on this page.
What checking accounts does Wells Fargo offer?
This bank offers several alternatives for checking accounts, all of them with free debit cards and with full functionality to make transfers, take out personal loans and other products such as credit cards and mortgages.
These are the checking accounts offered by Wells Fargo:
Everyday Checking Account
This product can be opened by anyone 17 years of age or older who applies and deposits the initial $25. It does not require a minimum balance, but one of the options to avoid the $10 monthly handling fee is with a minimum daily balance of $500.
Wells Fargo Everyday Checking account is designed for you to operate in your day to day, making purchases, withdrawing money at ATMs and direct debiting income and expenses
Other options to avoid the maintenance fee are:
- Be under 25 years of age
- Have a monthly income of at least $500
- Have a Campus debit card for students.
You can find all the information, other fees and open the Everyday Checking Account on the Wells Fargo website.
Clear Access Banking Account
This account is designed for young customers who do not need to write checks, since it does not have a checkbook, and who will not pay a handling fee if they are under 24 years old.
Wells Fargo Everyday Checking account is designed for you to operate in your day to day, making purchases, withdrawing money at ATMs and direct debiting income and expenses
Basic account that does not allow you to write checks but has a free debit card and does not have a handling fee for those under 24
For account holders over the age of 24, the maintenance fee is $5 per month and there is no way to avoid it, so at that age it is preferable to switch to the Everyday Checking Account, which offers several ways to avoid paying fees.
In addition, Clear Access Banking does not allow overdrafts, so you are protected against the possibility of your balance going negative. However, any charges made without a sufficient balance will be declined.
Prime Checking Account
A checking account that allows you to write checks for free and can be opened with as little as $25. This is an account designed for customers with a certain level of income, as the $25 monthly fee can only be avoided if you have a combined minimum balance of $20,000 in the bank, within accounts and certificates of deposit.
Wells Fargo Everyday Checking account is designed for you to operate in your day to day, making purchases, withdrawing money at ATMs and direct debiting income and expenses
Basic account that does not allow you to write checks but has a free debit card and does not have a handling fee for those under 24
Checking account with checkbook and debit card that pays you interests and offers you better ernings in savings and loans.
Prime Checking is an interest-bearing account, with up to 0.10% APY, and offers discounts on Wells Fargo's personal loan interest rates and better returns on savings accounts and time deposits.
Premier Checking Account
Wells Fargo's most exclusive checking account is designed for those who can maintain a minimum balance of $250,000 in qualifying checking, savings and investment products.
Meeting this condition is the only way to avoid the $35 monthly maintenance fee charged by the bank for this product.
With Premier Checking you will not pay any outgoing or incoming transfer fees. Nor will you pay any charge for using ATMs around the world, even if they are not Wells Fargo ATMs, since the bank refunds all the commissions charged by other banks for the use of their ATMs.
You also have many other advantages, such as a higher return on your balance, better yields on savings accounts and deposits, discounts on personal loans and much more.
What savings accounts does Wells Fargo offer?
In this section the financial institution offers two products that offer you a profitability for your savings, with minimum deposits of $25 to open them and with automatic savings features and the possibility of using them as protection against overdrafts in checking accounts.
As they are savings accounts you can only withdraw money from them 6 times for free during each month, if you want to make more movements you will have to pay a fee for each one.
Way2Save Savings Account
This product currently offers a return of 0.15% APY and has a $5 monthly fee that you can avoid if you meet any of the following conditions:
- Be under the age of 25.
- Maintain a daily balance of $300 or more.
- Monthly transfer from a Wells Fargo checking account of at least $25.
- Transfer each business day of $1 from a Wells Fargo checking account.
- Some transfer with the Save As You Go system (which transfers $1 each time you pay with a card or pay online).
Wells Fargo Everyday Checking account is designed for you to operate in your day to day, making purchases, withdrawing money at ATMs and direct debiting income and expenses
Basic account that does not allow you to write checks but has a free debit card and does not have a handling fee for those under 24
Checking account with checkbook and debit card that pays you interests and offers you better ernings in savings and loans.
Savings account that remunerates the balance you deposit from the first dollar, with total availability of your money.
Wells Fargo Everyday Checking account is designed for you to operate in your day to day, making purchases, withdrawing money at ATMs and direct debiting income and expenses
Basic account that does not allow you to write checks but has a free debit card and does not have a handling fee for those under 24
Checking account with checkbook and debit card that pays you interests and offers you better ernings in savings and loans.
Savings account that remunerates the balance you deposit from the first dollar, with total availability of your money.
Savings account that offers a minimum return for your money, with the possibility of bonus it if requirements are met.
Platinum Savings Account
This account offers you a return of 0.25% APY, which can go up to 2.51% for higher balances over $1 million. The condition to avoid the $12 monthly fee is to have a minimum balance of $3,500.
Español: Cómo abrir una cuenta en Wells Fargo y sus requisitos