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 Everyday Checking and Clear Access Banking for those who have 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 Personal Checking Account - $300 Bonus - Learn More Read Wells Fargo Review
	Benefits and Features
Savings	0.25% 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.
CD	Offers brokered CDs from other banks. Minimum deposit of $1,000.	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	0.45% APY, $0.01 account minimum	Clear Access Banking, Everyday Checking, Prime Checking, Premier Checking
ATMs	Unlimited ATM fee rebates when used with ATMs with the Visa, Interlink logo. Available worldwide.	approximately 11,000 ATMs across the country
Customer Service	24/7 Live Customer Service (Telephone and Chat)	Available 24 hours a day, 7 days a week.
IRA CD		Standard Term CD: 0.01% to 2.75% 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	345 branches across the country. You may also open an account online.	approximately 4,700 retail banking branches coast to coast
	CreditDonkey® Reviews
Savings
Checking
Mobile App
Customer Service
CD
Pros & Cons	Pros: 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 Line	Popular brokerage with a free checking account that refunds ATM fees... Read full review	A "big 4" bank with a good range of checking accounts and full services... Read full review
	High Yield Investor Checking – Unlimited ATM Rebates 3-Month CD - Up to 4.58% APY 1-Year CD - Up to 4.50% APY	Personal Checking Account - $300 Bonus Personal Checking Account - $125 Bonus Personal Checking Account - $2,500 Bonus
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 10/27/2024. Wells Fargo: Pricing information from the published website as of 10/26/2024 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.