Do you want to learn about all the features of the Wells Fargo Student and Teen Checking account? At Responsible Economy, we present you with all the details of the student and Teen account at Wells Fargo and compare it to the best student checking accounts you can open in the United States. Let’s get started!
Features
In this section, we show you all the features. We want to inform you that Wells Fargo does not have a specific offer for students or teens, and at Wells Fargo, they have selected Clear Access Banking and Everyday Checking as the top choices for student accounts offered.
Fees
If you’re between 13 and 16 years old, you can only open a Clear Access Banking account, which is fee-free. It’s important to note that you’ll need to open this account in a branch with an adult as a co-owner of the account.
If you’re between 17 and 24 years old, you can choose between the Clear Access Banking account and Premier Checking. Both accounts are fee-free.
Interest rate
This account does not offer any type of interest for the money you have saved. If you want an account that generates interest, take a look at the best savings accounts.
Wire transfers
Both incoming and outgoing domestic bank transfers incur fees.
Minimum deposit
A minimum initial deposit of $25 is required to open the account.
ATMs
You can only withdraw money without fees at Wells Fargo ATMs.
Bonus
Wells Fargo does not offer any welcome bonus.
Overdraft service
TD Bank Wells Fargo offers Overdraft service, but you must exercise caution as each overdraft incurs a fee of $35 per item.
Summary table
We have created a summary table with all the features we analyzed in the previous section:
| Feature | Details |
|---|---|
| Fees | $0 up to 24 years old |
| Interest Rate | 0% APY |
| Wire Transfers | Wells Fargo does not provide information |
| Minimum Deposit | $25 |
| ATMs | $0 Wells Fargo ATMs |
| Bonus | $0 |
| Overdraft Service | Yes |
Comparison best student checking accounts
We have conducted a comparison of the Wells Fargo Student Checking accounts with the best student checking accounts you can open in the United States:
- It is very easy to avoid monthly commissions.
- Welcome bonus of 100 dollars fulfilling conditions.
- More than 16,000 ATMs in the United States.
- $25 minimum deposit.
- Very low interest rates.
- It is very easy to avoid monthly commissions.
- $0 welcome bonus.
- More than 70,000 ATMs in the United States.
- $0 minimum deposit.
- Very low interest rates.
- $0 fees up to 23 years old.
- $0 welcome bonus
- Two withdrawals free
- $0 minimum deposit
- Very low interest rates
- $0 Annual fees
- $0 welcome bonus
- ATMs free: BMO and Allpoints
- $0 minimum deposit
- Very low interest rates
- Easy to avoid monthly commissions
- $0 welcome bonus
- ATMs free: U.S. Bank
- $0 minimum deposit
- Very low interest rates
- Easy to avoid monthly commissions
- $0 welcome bonus
- ATMs free: TD Bank
- $0 minimum deposit
- Very low interest rates
- No monthly fees
- $0 welcome bonus
- More than 70,000 ATMs in the United States
- $0 minimum deposit
- High interest rates.
- It is very easy to avoid monthly commissions
- $0 welcome bonus
- fulfilling conditions
- More than 60,000 ATMs in the United States
- $25 minimum deposit ($0 online)
- Very low interest rates
- It is very easy to avoid monthly commissions
- No welcome bonus
- More than 16,000 ATMs in the United States
- $100 minimum deposit
- No welcome bonus
- High interest rates if you have a lot of savings
- It is very easy to avoid monthly commissions
- Nearly 12,000 ATMs
- $25 minimum deposit
- Welcome bonus of 300 dollars fulfilling conditions
- High interest rates on CDs
Requirements
These are the requirements to open the student account at Wells Fargo:
- Being under the age of 24.
- Reside in the United States.
- Have a Social Security number.
- Have an American phone number.
Pros and cons
Now that we have reviewed the features and explored the best student checking accounts, we have created a table outlining all the advantages and disadvantages:
| Pros | Cons |
|---|---|
| $0 fees up to 24 years old | 0% APY |
| Only free withdrawls on Wells Fargo | |
| $0 welcome bonus |
Conclusion and opinions
After conducting our analysis, our opinion is that Wells Fargo does not provide a competitive student checking account. It offers a 0% interest rate, the linked savings account provides a very low interest rate, fee-free ATM withdrawals are limited to Wells Fargo ATMs, bank transfers come with fees, and there is no welcome bonus. On the positive side, if you are under 24 years old, there are no monthly maintenance fees.
Wells Fargo interesting information
We have created a table with relevant information about Wells Fargo:
| Information | Description |
|---|---|
| Website | https://www.wellsfargo.com/ |
| https://twitter.com/wellsfargo/ | |
| https://www.instagram.com/wellsfargo/ | |
| https://www.linkedin.com/company/wellsfargo/ | |
| https://www.facebook.com/wellsfargo/ | |
| YouTube | https://www.youtube.com/user/wellsfargo/ |
Other Wells Fargo products
Here is a list of all the products from Wells Fargo that we have analyzed:
Frequent questions
If you still have any questions, here we provide answers to all your inquiries.
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Updated the day 1 September, 2023 by Alfredo Barandiarán
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