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Charles Schwab Bank vs Wells Fargo

Charles Schwab Bank is a popular brokerage with a free checking account that refunds ATM fees. How does it compare to Wells Fargo? Read our comparison chart below.

Charles Schwab Bank offers an Investor Checking account with unlimited ATM fee reimbursements worldwide and no foreign transaction fees. No minimum to open and no service fee. It is tied to a brokerage account but you don't have to use it.

While Wells Fargo is one of America's largest banks with over 4,500 locations and approximately 11,000 ATMs. Offers many checking options, including Teen Checking and Opportunity Checking for those who had financial troubles. 24/7 customer service. Special CDs offers high rates with $5,000 minimum opening deposit.

Compare Charles Schwab Bank with Wells Fargo, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

 

Charles Schwab Bank

Wells Fargo

SPECIAL OFFER
High Yield Investor Checking – Unlimited ATM Rebates - Learn More

Read Charles Schwab Bank Review

SPECIAL OFFER
Savings Account - $525 Bonus - Learn More

Read Wells Fargo Review

 

Benefits and Features

Savings
0.48% APY
0.01% APY. Minimum opening deposit of $25. Monthly service fee of $5, unless you maintain a minimum daily balance of $300, make 1 automatic transfer each fee period of $25 or more from a linked Wells Fargo checking account, make 1 automatic transfer each business day within the fee period of $1 or more from a linked Wells Fargo checking account, make 1 or more Save As You Go® transfers from a linked Wells Fargo checking account, or primary account owner is 24 years old or under.
CDOffers brokered CDs from other banks. Minimum deposit of $1,000.Standard Fixed Term CD available online: 1.50% to 2.50% APY. Terms of 3 months to 1 year. Minimum deposit of $2,500. Bonus of up to 2.51% APY if you maintain a linked Portfolio by Wells Fargo relationship. More CD terms are available in branch.
Checking0.45% APY, $0.01 account minimumClear Access Banking, Everyday Checking, Portfolio by Wells Fargo
Money Market Also known as the Platinum Savings Account. 0.25% - 2.50% APY. Minimum opening deposit of $25. $12 monthly service fee, unless you maintain a minimum daily balance of $3,500. Bonus APY of 2.51% requires account linked to Portfolio by Wells Fargo relationship.
ATMsUnlimited ATM fee rebates when used with ATMs with the Visa, Interlink logo. Available worldwide.approximately 11,000 ATMs across the country
Customer Service24/7 Live Customer Service (Telephone and Chat)Available 24 hours a day, 7 days a week.
IRA CD Standard Term CD: 0.01% to 2.50% APY. Terms of 1 month to 144 months. Minimum deposit of $1,000. Bonus of up to 2.51% APY if you maintain a linked Wells Fargo Prime/Portfolio Checking account.
IRA Money Market Also known as Retirement High Yield Savings. 0.25% - 2.50% APY. $100 minimum opening deposit.
Locations345 branches across the country. You may also open an account online.Approximately 4,700 retail banking branches coast to coast.
 

CreditDonkey® Reviews

SavingsStarStarStarStarEmpty StarStarStarEmpty StarEmpty StarEmpty Star
CheckingStarStarStarStarEmpty StarStarStarStarStarHalf Star
Mobile AppStarStarStarStarEmpty StarStarStarStarStarStar
Customer ServiceStarStarStarStarHalf StarStarStarStarStarHalf Star
CDStarStarStarHalf StarEmpty Star
Pros & ConsPros:
  • No account minimum
  • No service fees
  • Refund all ATM fees
Cons:
  • Only checking or savings
  • Must do banking online
Pros:
  • Low requirements for Everyday Checking
  • Full service bank
  • 24/7 customer service
Cons:
  • Low savings rates
  • Not in all states
Bottom LinePopular brokerage with a free checking account that refunds ATM fees... Read full reviewA "big 4" bank with a good range of checking accounts and full services... Read full review

Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details.

Charles Schwab Bank: Pricing information from published website as of 05/18/2024.

Wells Fargo: Pricing information from the published website as of 06/14/2024 is based on the 91101 zip code.

Which is Better: Charles Schwab Bank or Wells Fargo?

Still need help deciding which bank reviews & deals is better? Read the in-depth reviews below. You may also be interested in comparing Charles Schwab Bank or Chase.

In short: Charles Schwab Bank's savings is notable. Wells Fargo's mobile app is impressive.


Articles on Charles Schwab Bank

Charles Schwab Bank Review

Charles Schwab is more than a brokerage. It also offers high yield checking and savings interest rates that might far surpass your local bank. Read on to learn the pros and cons.

Charles Schwab High Yield Savings

Charles Schwab Bank has a savings account with no fees and a free debit card. But how does its APY stack up against other accounts?

Charles Schwab Routing Number

You'll need the right routing number to transfer money in or out of your Charles Schwab bank account. Find yours and learn more about money transfers in our guide.

Articles on Wells Fargo

Wells Fargo Bank Review

Wells Fargo offers nationwide access with thousands of ATMs and branch locations. But are their checkings and savings accounts right for you? Read on to see the best options.

Wells Fargo High Yield Savings

Looking for a traditional bank to grow your funds? Wells Fargo offers a high-yield savings account with a decent rate. Read on to find out more.

Wells Fargo Bank CD Rates

Wells Fargo is one of the largest banks in the U.S. Should you get a Wells Fargo CD? Might be worth considering. Learn more.

Wells Fargo Bank Hours

Wells Fargo is one of the biggest banks in the country. Here's when you can visit a branch near you.

Wells Fargo Routing Number

Not all routing numbers are the same for Wells Fargo. Here's how to find the routing number for your bank account.

Which Do You Think is Best?


Which Bank Account is Right for You?


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