Varo Bank vs Wells Fargo
Varo Bank | Wells Fargo | |
|---|---|---|
Varo Bank Account - | Personal Checking Account - $300 Bonus - | |
Benefits and Features | ||
| Savings | 3.00% APY on all balances. Opportunity to earn 5.00% APY if your daily savings balance does not exceed $5,000 AND you make at least 5 Varo debit card purchases per month AND receive at least $1,000 in direct deposits in either the Varo Bank Account or Savings Account. | 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. |
| CD | Standard Fixed Term CD available online: 2.00% to 2.75% APY. Terms of 3 months to 1 year. Minimum deposit of $2,500. Relationship APY: 2.01% to 2.76% APY when you link a Wells Fargo Prime Checking, Premier Checking, or Private Bank Interest Checking account to the CD. More CD terms are available in branch. | |
| Checking | No monthly service fee; no minimum balance; no overdraft fees | Clear Access Banking, Everyday Checking, Prime Checking, Premier Checking |
| Monthly Fee | ||
| Minimum Deposit to Open | ||
| Mobile App | ||
| ATMs | over 55,000 fee-free AllPoint ATMs | approximately 11,000 ATMs across the country |
| Customer Service | Mon-Fri 8am - 9pm (ET) and Sat-Sun 11am to 7pm (ET) | Available 24 hours a day, 7 days a week. |
| IRA CD | Standard Term CD: 0.01% to 2.75% APY. Terms of 1 month to 144 months. Minimum deposit of $1,000. Relationship APY: 0.02% to 2.76% APY when you link a Wells Fargo Prime Checking, Premier Checking, or Private Bank Interest Checking account to the CD. | |
| Locations | approximately 4,700 retail banking branches coast to coast | |
CreditDonkey® Reviews | ||
| Savings |   | |
| CD |  | |
| Checking | | |
| Mobile App | | |
| Customer Service | | |
| Pros & Cons | Pros:
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| Bottom Line | A "big 4" bank with a good range of checking accounts and full services... | |
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. Varo Bank: Pricing information from published website as of 11/08/2023. Wells Fargo: Pricing information from the published website as of 10/26/2024 is based on the 91101 zip code. | ||
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