![]() History of costly scandals: In 2016, news began to emerge that for years, Wells Fargo employees had engaged in illegal practices-behavior that resulted in extra charges for customers and opening fake accounts, along with improperly repossessed homes and autos-and has been forced to pay billions in fines imposed by the Office of the Comptroller of the Currency, the Consumer Financial Protection Bureau, and the Securities and Exchange Commission.On the other hand, if you've signed up for Overdraft Protection, you will be charged one fee per business day, but the fee amount will depend on the type of account from which the funds are withdrawn to cover the overdraft. Unfortunately, the bank's policies allow up to three overdrafts per day, meaning you could be staring down $105 in overdraft fees from a single day's mistakes. Overdraft fees levied up to three times daily: Wells Fargo charges a $35 overdraft fee for its Debit Card Overdraft Service every time you overdraw your account.In addition, every savings account also carries a monthly fee, meaning your account may essentially earn a negative amount if you are unable to avoid the charge-if your account dips below the minimum daily balance, for example. Still, Wells Fargo offers very lackluster rates (currently 0.01%-0.02%) on all of its savings options. Low interest rates: Account APYs tend to skew lower at traditional brick-and-mortar banks than at their online counterparts. ![]() This pioneering move allows Wells Fargo customers to easily share data with these Intuit products so they can handle their financial chores without risking their accounts' security. Innovative, secure data-sharing, and money management apps: In 2017, Wells Fargo partnered with Intuit to provide a seamless and completely secure connection for customers who use Mint, QuickBooks online, and TurboTax online.Most clients can easily qualify for one of the many waivers. Frequently waived monthly fees: While Wells Fargo does levy maintenance fees on many of its deposit accounts, the bank does provide a number of methods for avoiding them.Highly accessible-numerous locations: With approximately 4,900 branches and over 12,000 ATMs across 37 states and the District of Columbia, Wells Fargo is one of the more easily accessible large banks in the United States. ![]()
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