Wells Fargo is the fourth-largest bank in the US and is known for its community-based services, social responsibility, as well as its practice of diversity. Banking with Wells Fargo can help you gain financial success, especially if you are a small business owner. As part of their regular banking functions, Wells Fargo has clearly been of great support to businesses during the pandemic and enabled entrepreneurs to remain open for business so that the owners and employees can survive financially.
The top 3 reasons to bank with Wells Fargo include their corporate responsibility as well as their services to customers. Let’s take a look at what those 3 reasons are.
Checking Accounts
Wells Fargo has four different checking accounts to choose what suits you the most. All four of them can be opened with just a $25 deposit which leaves you more money for your daily expenses. Moreover, they have varying options on how to avoid monthly service fees.
➢ Clear access banking – Suitable for those that need help managing their money (students, teenagers, etc.). Essentially, it helps you spend your money and does not have fees for overdraft or insufficient funds.
➢ Everyday checking – This is their most popular account and helps you manage your day-to-day expenses.
➢ Preferred checking – Ideal for homeowners with mortgages. Linking a home mortgage with this checking account saves you from the monthly service fees.
➢ Portfolio by Wells Fargo – A checking account that comes with relationship banking and premium benefits.
Ease of banking
Wells Fargo is one of the nation’s largest banks and gives you all the advantages of dealing with a major company. Namely, they are very accessible and make it easy to get your banking done, regardless of where you are in the country. They have extensive branch coverage as well as a mobile app that allows you to deposit checks, send money to friends, and pay your bills.
Their app is so popular that it’s currently listed as #12 on the App Store and has 4.8/5 stars with 4.8 million reviews.
Improved Corporate Responsibility
In the mid-to-late 2010s, Wells Fargo experienced a few issues with corporate responsibility, but since that time has made a much bigger push into corporate responsibility and is committed to improving the following areas:
➢ Diversity and inclusion
➢ Economic empowerment
➢ Environmental sustainability
➢ Community giving
➢ Environmental and social risk management
➢ Environmental, social, and governance reporting
This renewed commitment to help better the communities where they operate would be of particular importance for consumers looking to bank with institutions that have strong governance policies.
Looking to learn more about checking accounts? Then you’ll want to learn more from Find a Better Bank. We help connect people with the bank that is right for them. On the site, you can search for your next bank by region, bank size or by your residential zip code. Stop by and find the checking account that’s best for you!