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 12,000 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 and reviews.
Charles Schwab Bank | Wells Fargo | |
|---|---|---|
High Yield Investor Checking – Unlimited ATM Rebates - | Personal Checking Account - $2,500 Bonus - | |
Benefits and Features | ||
| Savings | 0.15% 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 | Offers brokered CDs from other banks. Terms range from 1 month to 20 years. Minimum deposit of $1,000. | Standard Term CD: 0.50% 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. |
| Checking | 0.45% APY, $0.01 account minimum | Clear 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. | |
| Customer Service | 24/7 Live Customer Service (Telephone and Chat) | Available 24 hours a day, 7 days a week. |
| ATMs | Unlimited ATM fee rebates when used with ATMs with the Visa, Interlink logo. Available worldwide. | More than 12,000 ATMs across the country. |
| 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. | |
| Locations | 345 branches across the country. You may also open an account online. | Approximately 4,500+ retail banking branches coast to coast. |
CreditDonkey® Reviews | ||
| Savings |   | |
| Checking | | |
| Customer Service |  | |
| Mobile App | | |
| Pros & Cons | Pros:
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| Bottom Line | Popular brokerage with a free checking account that refunds ATM fees... | |
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 03/23/2023. Wells Fargo: Pricing information from published website as of 5/27/2023 based on 91107 zip code. | ||
Which is Better: Charles Schwab Bank or Wells Fargo?
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