Wells Fargo's main service categories
Wells Fargo operates as a full-service bank, meaning it handles deposit accounts, lending, investment services, and payment processing under one roof. You can open a checking or savings account, take out a mortgage or auto loan, invest through a brokerage, and move money between accounts or to other people—all through the same institution.
The bank serves both individual customers and businesses. For individuals, the focus is on everyday banking and personal loans. For businesses, Wells Fargo offers commercial lending, payroll processing, and cash management tools. The services you can actually use depend on which account type you hold and which products you sign up for.
Key Takeaways
- Wells Fargo offers deposit accounts (checking and savings), personal loans, mortgages, auto loans, credit cards, and investment accounts through its brokerage division.
- Payment services include wire transfers, ACH transfers, bill pay, and peer-to-peer transfers through Zelle, which is built into the Wells Fargo app.
- Investment services are handled through Wells Fargo Advisors and Wells Fargo Investments, which offer brokerage accounts, retirement accounts, and managed portfolios.
- Business customers can access commercial loans, merchant services, payroll processing, and treasury management tools.
- Wells Fargo charges monthly maintenance fees on most accounts unless you meet minimum balance or direct deposit requirements, which vary by account type.
Deposit accounts and everyday banking
Wells Fargo offers several checking and savings account options. The most common are Wells Fargo Checking and Wells Fargo Savings, though the bank also offers money market accounts and certificates of deposit (CDs). Each account type has different features and fee structures.
Most Wells Fargo checking accounts charge a monthly maintenance fee—typically $10 to $15—unless you meet one of these conditions: maintain a minimum daily balance (usually $500 to $1,500), set up direct deposit, or link the account to a Wells Fargo investment or credit product. Savings accounts also carry monthly fees unless you maintain a minimum balance or have a may have access to direct deposit.
All deposit accounts come with a debit card, online banking, mobile app access, and the ability to make transfers and pay bills. Wells Fargo also offers ATM access through its own network plus surcharge-free withdrawals at MoneyPass and Allpoint ATMs.
Lending products: mortgages, auto loans, and personal loans
Wells Fargo originates mortgages for home purchases and refinances. You can apply online, by phone, or in person at a branch. The bank offers fixed-rate and adjustable-rate mortgages, as well as FHA and VA loans if you meet those program requirements. Mortgage applications typically take 30 to 45 days from application to closing.
For auto loans, Wells Fargo finances new and used vehicles. You can apply before you shop for a car to get pre-approved, which shows dealers what you can borrow. The bank also offers auto refinancing if you have an existing loan elsewhere.
Personal loans through Wells Fargo are unsecured, meaning you do not pledge collateral. Loan amounts range from $3,000 to $100,000, and repayment terms run from 12 to 84 months. Interest rates depend on your credit score and income. You can apply online or in a branch.
Credit cards and payment services
Wells Fargo issues several credit card products, including cash-back cards, travel rewards cards, and cards designed for people building or rebuilding credit. Each card carries its own annual fee structure (some have no annual fee, others charge $95 or more) and rewards rate.
For moving money, Wells Fargo offers wire transfers (domestic and international), ACH transfers to other banks, bill pay through the online platform, and Zelle for peer-to-peer transfers. Wire transfers typically process the same business day if submitted before the cutoff time (usually 2 p.m. local time). ACH transfers take one to three business days. Zelle transfers usually complete within minutes to a few hours.
Wells Fargo also processes payments for businesses through its merchant services division, handling credit card processing, point-of-sale systems, and payment gateway integration.
Investment and wealth management services
Wells Fargo Advisors is the bank's full-service brokerage and wealth management division. It offers brokerage accounts for buying and selling stocks, bonds, mutual funds, and exchange-traded funds (ETFs). You can open a standard brokerage account, an individual retirement account (IRA), or a 401(k) rollover account.
For customers with larger portfolios, Wells Fargo Advisors provides managed accounts and financial advisory services. A financial advisor can help you build an investment strategy, though advisory services typically require a minimum account balance (often $25,000 to $100,000 depending on the service level).
Wells Fargo also offers self-directed investing through its online platform, where you can trade without speaking to an advisor. This option carries lower fees but provides no personalized guidance.
Business banking and commercial services
Wells Fargo's business division serves small, mid-market, and large companies. Services include business checking and savings accounts, commercial loans and lines of credit, equipment financing, and commercial real estate lending.
The bank also offers payroll processing through Wells Fargo Payroll Services, which handles tax withholding, direct deposit, and payroll tax filing. Businesses can integrate payroll with accounting software or use Wells Fargo's own platform.
Cash management tools allow businesses to automate collections, manage accounts payable, and optimize liquidity. These services are typically used by companies with higher transaction volumes or complex payment needs.
How to access Wells Fargo services
You can open an account or apply for a loan online through wellsfargo.com, by phone at 1-800-869-3557, or in person at a Wells Fargo branch. Online applications for deposit accounts typically complete in minutes, while loan applications may require additional documentation and take several days to process.
Once you have an account, you access services through the Wells Fargo mobile app, the website, or by visiting a branch. The mobile app lets you check balances, transfer money, deposit checks by photo, pay bills, and contact customer service. Not all services are available through the app—for example, opening a new loan or investment account may require a phone call or branch visit.
Frequently Asked Questions
Does Wells Fargo charge for wire transfers?
Yes. Domestic wire transfers cost $15 to $20 depending on whether you initiate them online or in a branch. International wire transfers cost more, typically $45 to $50. Some premium account tiers waive wire transfer fees.
Can I open a Wells Fargo account without a minimum deposit?
Yes. Most Wells Fargo checking and savings accounts require no minimum opening deposit. However, you will owe the monthly maintenance fee unless you meet the balance or direct deposit requirement for that account type.
What is the difference between Wells Fargo Advisors and Wells Fargo Investments?
Wells Fargo Advisors provides full-service brokerage and advisory services with access to a financial advisor. Wells Fargo Investments is the self-directed online platform where you trade without advisor assistance. Advisors typically charge a percentage of assets under management; self-directed accounts charge per-trade commissions or flat platform fees.
Does Wells Fargo offer business credit cards?
Yes. Wells Fargo issues business credit cards with various rewards structures and credit limits. Business cards typically require a business tax ID and may require a personal may provide from the business owner.
How long does a mortgage application take at Wells Fargo?
The typical timeline is 30 to 45 days from application to closing, though this varies based on how quickly you provide documentation and how complex your financial situation is. You can track your application status online or by calling your loan officer.