Wells Fargo makes it easier to waive the monthly service fee than Chase. You might favor Wells Fargo over Chase if you're only looking to open a checking account. Otherwise, your decision could rely on differences between bank account features and perks. Your choice between the two might depend on where you live. If you get the Wells Fargo Way2Save® Savings Account you'll need to meet certain requirements every month to waive a $5 monthly service fee.Ĭhase and Wells Fargo are two of the largest national banks in the US. With the Bank of America Advantage Savings Account, you won't have to worry about monthly service fees during the first six months of opening an account. If you take bonuses out of the equation, Bank of America might be the better choice for a savings account. Wells Fargo also offers a substantial savings bonus if you can deposit at least $25,000, while Bank of America doesn't have a savings bonus at all. This is lower than Wells Fargo's checking bonus. If you're looking for a sign-up bonus, Wells Fargo is likely the better choice.įor checking accounts, Bank of America offers a $100 bonus for eligible new customers who open a Bank of America Advantage SafeBalance Banking® account with qualifying activities. Your decision may ultimately come down to which institution has the most nearby branch locations. We've compared Wells Fargo to two other big, national banks: Bank of America and Chase. Your bank account deposits are FDIC insured up to $250,000, or $500,000 for joint accounts. The Attorney General announced the $20 million settlement in 2020, but the issues with Wells Fargo's RMBSs were from 2005 to 2009. The Maryland Attorney General entered into a settlement with Wells Fargo when it claimed that the bank didn't accurately disclose information to investors about residual mortgage-backed securities. The OCC stated that the bank's home lending loss mitigation program was unsuccessful, and it charged Wells Fargo a $250 million civil penalty.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |