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updated: July 29, 2024Both Chase and Wells Fargo are national bank brands offering a variety of personal and business accounts to customers all over America. While these banks are similar in many ways, there are some important differences.
Here’s a look at Chase versus Wells Fargo and how these two large financial institutions compare to each other.
Both Chase and Wells Fargo offer personal and business checking accounts to meet your everyday needs. These accounts come in a variety of flavors, and there are even accounts for kids from one of the banks. There are eight total checking accounts available from Chase and four from Wells Fargo. These transactional accounts are where you’ll deposit your pay each month, and from which you’ll make purchases and pay bills. The right one for you depends on how much you plan to keep in the account, the features that are most important to you, and even your age. If you’re a small business owner, both banks also offer business checking account options. These accounts have different features and requirements than personal checking accounts, so it’s important to consider your company’s needs before choosing.
*Monthly fee can be waived by meeting certain requirements.
*Monthly fee can be waived by meeting certain requirements.
*Monthly fee can be waived by meeting certain requirements.
*Monthly fee can be waived by meeting certain requirements.
Both personal and business banking customers can benefit from having one or more savings accounts, especially if they are rich in features. These accounts typically earn interest on the balance held and may even be high-yield, helping you grow your balance even faster. Chase and Wells Fargo have savings accounts products for their personal and business banking customers, with Chase and Wells Fargo each offering two different interest-bearing products. Neither Chase nor Wells Fargo has a high-yield savings account option, however. If you’re looking to really maximize your earnings, consider one of our picks for the best high-yield savings accounts.
Monthly fee can be waived by meeting certain requirements.
*Monthly fee can be waived by meeting certain requirements.
*Monthly fee can be waived by meeting certain requirements.
*Monthly fee can be waived by meeting certain requirements.
Both Chase and Wells Fargo have CD products. With Chase, these range from two months to 10 years in length, while Wells Fargo ranges from three to 12 months (with additional terms sometimes available from a branch location). Some products and term lengths may be limited to customers in select relationship tiers.
Neither Wells Fargo nor Chase Bank offers an MMA for personal or business banking customers.
Saving and growing wealth for the future is an important part of any financial strategy, which is why both Chase and Wells Fargo offer a variety of investing products and services to personal banking customers.
Self-directed investment portfolios Automated investing/robo-advisor 1:1 advisory services Wealth management Individual retirement accounts (IRAs) Yes, traditional and Roth Yes, traditional and RothLast, we have loan options from both Chase and Wells Fargo. Each bank offers loan products which may include personal loans, auto loans, and various types of home loans. The actual loan terms and rates depend on factors like your location, eligibility, and how you plan to use the funds.
Chase Bank does not offer personal loans at this time. You can take out a cash advance against an available credit limit on your Chase credit card, however.
Wells Fargo 7.49% to 23.24% APR $3,000 to $100,000 12 to 84 monthsChase auto loans are only available through the Chase Auto buying program. This platform works with participating lenders to help you shop, get prequalified, and purchase your vehicle.
Not disclosed 48 to 72 months Wells Fargo 7.49% to 23.24% APR $3,000 to $100,000 12 to 84 monthsHome lending products can allow you to buy a primary home, second home, or investment property, or to refinance a home mortgage loan you already have. They can also include home equity loans and lines of credit (HELOCs) to tap into your property’s existing value.
Both Wells Fargo and Chase offer a range of home lending products.
Fixed-rate, ARM, Jumbo, FHA Refinance, cash-out refinance Starting at 6.631% APR Wells Fargo Fixed-rate, ARM, Jumbo, FHA, VA Cash-out refinance 7.49% to 23.24% APRNow that you’ve seen how different Chase and Wells Fargo products compare, here’s how their features and services match up.
Both Chase and Wells Fargo offer banking services in all 50 states as well as the District of Columbia.
Both Chase and Wells Fargo offer a wide network of free ATMs, though Chase has a slight edge here. In addition to its 4,700+ branches, Chase currently has more than 15,000 ATMs where you can make a deposit, check your balance, or withdraw cash. You can even make a withdrawal if you forget your debit card at home with Chase’s Cardless ATM and a connected mobile wallet.
Wells Fargo has a network of more than 11,000 ATMs across the country, and also offers mobile wallet access to machines. This means full ATM functionality from a connected mobile wallet, even if you don’t have your debit card with you.
Both Wells Fargo and Chase Bank have a robust web platform and a feature-rich mobile app. Both banks also offer mobile wallets that can even be used to gain access to your account at an ATM, allowing you to make withdrawals or deposits without a physical debit card.
To protect your information and your account, each bank utilizes many different security features. Both Chase and Wells Fargo specify that 128-bit encryption and two-factor authentication is used to guard your data.
Chase Bank may be a better choice if you’re looking for a bigger bank with a wider ATM and branch presence. This financial institution also offers more bank account products and CD terms, giving you additional options for managing your money. Chase has a strong history and reputation, as well, earning high marks on recent JD Power U.S. Retail Banking surveys.
Wells Fargo may be the better option if you’re looking for a bank that offers things like personal loans and robo-advisory services. It has competitive loan rates and terms and has one of the longest histories of any financial institution currently operating in the United States.
Both Chase and Wells Fargo are top banks operating in all 50 states as well as DC. Both banks offer a variety of personal and business accounts and services, as well as a robust network of ATMs and local branch locations. While both banks are consistently listed in ratings surveys, Chase does tend to have higher overall customer satisfaction, though Wells Fargo has a lengthier history to stand on.
Both Chase and Wells Fargo offer similar banking services and products. Chase has a bigger ATM network, more banking products, and higher customer satisfaction ratings, making it a better choice for anyone considering these in their bank search.
The No. 1 bank in terms of customer satisfaction is Capital One, with Chase coming in second place, according to JD Power. Chase is also the biggest bank in America, earning it the top spot in terms of assets and reach.
Chase is a better bank for customer satisfaction, earning second-place nationwide in the most recent JD Power survey. Chase is also the better bank for customers wanting many account options, CD terms, and a broad network of free ATMs.
Wells Fargo has come under fire in recent years for questionable account tactics and customer management practices. It’s not the right bank for anyone looking to maximize interest with a high-yield savings account or choose from a wide array of CD terms, or for anyone concerned about the bank’s reputation in recent years.
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