What bank is better Wells Fargo or Capital One? (2024)

What bank is better Wells Fargo or Capital One?

If securing a high rate is your biggest priority, then you'll likely prefer Capital One. The Capital One 360 Online Savings account has a 4.25% rate (as of 4/11/24). Compared to the 0.01% rate that Wells Fargo offers with its basic savings account, that's quite attractive.

Is Wells Fargo or Capital One a better bank?

Capital One is the better option for banking due to typically higher interest rates on its bank accounts and a greater number of credit cards. But Wells Fargo makes sense if you want more in-person locations and a wider variety of banking services, including home loans, personal loans, and retirement accounts.

Is it a good idea to bank with Capital One?

There are no balance minimums or monthly fees, and you won't need to worry about overdraft fees either. Capital One was named best big bank and best bank for ATM access as part of the 2024 Bankrate Awards, which recognizes the best financial products available to consumers.

What is a better bank than Wells Fargo?

Those looking to build credit or earn rewards may appreciate Bank of America credit cards. Bank of America also has slightly more branch locations than Wells Fargo (15,000 versus 11,000), so it may be more convenient for those wanting easy in-person access.

What bank is considered the best?

What are the disadvantages of Capital One Bank?

Capital One downsides

While we recommend many Capital One products, there are some important downsides about the bank to consider. For one, its interest rates on savings accounts aren't the highest out there—especially when compared with the best high-yield rates offered by some fully online banks.

Is Wells Fargo a good bank?

Wells Fargo Checking Account Overview

We give the bank's checking products a rating of 4.3 stars out of 5. Although we give high marks for the variety of accounts offered within this category, they generally require you to have other Wells Fargo accounts or maintain minimum balances to get monthly fees waived.

What is the disadvantage of Wells Fargo?

The main drawback we see with Wells Fargo are the low APYs on most accounts — if you're looking to earn money through interest, this is not the bank for you. Wells Fargo should also be avoided by people who struggle with overdraft fees. The standard overdraft fee is $35 at a max of three a day.

Why should I choose Wells Fargo as my bank?

Wells Fargo offers extensive branch coverage. Its mobile banking apps offer check deposit, person-to-person payments and bill payments, and they're well-rated by app store users. Customer service is available 24/7 by phone. It can also be reached through social media channels.

Should I still bank with Wells Fargo?

Overview. Wells Fargo may be a good fit for those who want access to a large network of branches and ATMs as well as a full-featured mobile banking app. Those seeking out high savings rates may want to consider other options.

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Which bank is most trustworthy?

Is Capital One bigger than Wells Fargo?

The 10 largest banks in the U.S. are Chase, Bank of America, Wells Fargo, Citibank, U.S. Bank, PNC Bank, Goldman Sachs Bank, Truist Bank, Capital One and TD Bank. Key Takeaways: Chase is the largest bank in the country, holding over $3.38 trillion in assets.

Is Capital One Bank owned by Wells Fargo?

Which bank owns Capital One? Capital One is an independent bank not owned by any other financial institution.

What rank is Capital One Bank?

How safe is Capital One bank from collapse?

Your money is safe at Capital One

The FDIC insures balances up to $250,000 held in various types of consumer and business deposit accounts.

Should I switch to Capital One?

Capital One stands out with one of the best combinations of online bank perks — no checking or savings fees, a competitive savings rate and some high CD rates — and a brick-and-mortar presence. It offers a top-of-the-line bank experience with strong customer support and doesn't charge any overdraft fees.

How many bank accounts should I have?

Money coach and certified financial planner Ohan Kayikchyan says it can make sense for a household to maintain four accounts: one checking account for monthly recurring bills and another for variable expenses, plus one savings account for emergency funds and a second for other savings goals.

Why do people still use Wells Fargo?

Wells Fargo stands out from other banks if you prioritize an extensive branch and ATM network. Wells Fargo also has a variety of bank accounts, credit cards, mortgages, and loan types, so it may be worthwhile if you want to do all your banking with one financial institution.

Which is the No. 1 bank of the USA?

JPMorgan Chase, or Chase Bank, is the biggest bank in America with nearly $3.4 trillion in assets. It boasts a vast network of over 4,800 physical branches and more than 15,000 ATMs. With generous bonuses and promotions and a variety of products, Chase is a popular choice for consumers across the country.

What is special about Wells Fargo?

With more than 150 years of experience, we're focused on helping you figure out the financial solutions for every stage of your life. We offer convenient ways to help you manage your money, protect your finances, and reach your financial goals.

Is Wells Fargo a good bank for savings?

The base rates offered by Wells Fargo on its savings accounts are much lower than the yields at top online banks. Wells Fargo is a large, well-known financial institution, but many other banks offer higher savings rates. Bask Bank and LendingClub Bank are among the online-only banks offering some of the highest rates.

What are the best banks in America?

How much money do you need to open a Wells Fargo account?

Valid ID (driver's license, state ID, Consular ID) Current residential address. $25 opening deposit.