Interested to see if a Wells Fargo savings account is the right one for you needs? Finding the best banking institution to trust with your savings can be a daunting task. Once you’ve determined your savings goals and intentions, it is vital to find the right institution and account to help you attain those goals. This is why it is best to choose an experienced leader in the banking industry. With a name that is synonymous with banking around the world, Wells Fargo is sure to help you meet your savings goals.
3 Reasons To Get a Wells Fargo Savings Account
1. A Reliable and Established Institution
Wells Fargo is an international banking institution that specializes in personal and business banking and lending. A mainstay of the American financial industry, Wells Fargo started out in 1852 as a stagecoach company that transported mail, money, and gold cross-country during the San Francisco gold rush. As times have changed, so has the financial industry. Accordingly, Wells Fargo adapted its business model by opening easily accessible banks across the United States to facilitate easy movement of money within the financial sector. Through intelligent application of market observations and innovation, Wells Fargo has become one of the world’s most highly regarded banking institutions.
As one of America’s longest-established institutions, Wells Fargo is a trusted name in personal banking and business finance, making them experts in the field of banking. If you are saving for a home or other long-term venture, you can rely on their experience in every aspect of financing. That means that as a member of Wells Fargo, you have access to bankers and consultants who can help you with real estate and investment, when you’re ready to take the next step.
In addition to being a reliable and well-regarded institution around the world, Wells Fargo FDIC insured, so building your Wells Fargo savings account is easier and safer than ever. With an FDIC approved bank, you can be sure that your money will be safe in the event of an economic downturn or unexpected financial crisis.
2. First-Rate Savings Accounts
Your savings account is an important financial tool to save money for long-term expenses. Unlike a checking account, which is used for paying regular bills and expenses, a savings account is meant to see very little traffic. Ideally, money should be regularly going into your savings, but rarely coming out. It is best to keep 3-6 months worth of expenses in your account as emergency savings, in case of an unexpected life event, such as job loss or a family illness. In order to meet this goal, you need a savings account that will not only hold your money, but that will help you track and grow your savings.
Luckily, Wells Fargo offers a number of savings account options to help you meet your needs for financial security and save for your goals beyond:
Wells Fargo’s Way2Save Savings Account is an easy and basic savings account for someone who is just starting out on their savings journey. The account is simple to open, with a minimum $25 deposit, and offers a 0.01% interest rate. Find out if special higher interest rates are available through your local Wells Fargo branch, by going in and asking for the “special rate”. As an incentive to save, Wells Fargo waives their monthly account fee and $300 minimum account balance on the Way2Save account when you sign up for automatic monthly transfers of $25 from your Wells Fargo checking account. Alternatively, you can take advantage of Save As You Go® transfers, which moves $1 from checking to savings each time you complete a one-time non-recurring debit card purchase or an online bill pay transaction using Wells Fargo Online® Bill Pay.
For a savings account with checking account flexibility and a higher interest rate, try the Platinum Savings account. This Wells Fargo savings account requires the same $25 deposit to open, and a minimum balance of $3,500 will waive your $12 monthly fee. The interest is higher than other savings accounts at 0.05%. Again, be sure to stop in at your local branch and ask for the “special rate”. What’s more, your account gets an interest hike once your balance goes over $25,000, just another great incentive to save!
3. Easy Banking Tools and Goal Tracking
In addition to helping you find the best savings account for your needs, Wells Fargo offers a number of useful tools to help you create, track, and achieve your goals. Whether you’re building up your emergency fund, saving for a family vacation, or working toward the down payment on a new home, these great banking options can work for you.
Secure Online Banking
Wells Fargo offers secure online banking access via your computer or Wells Fargo Mobile®, so you can make transfers to your savings, track your income, and view statements with ease.
Easily Accessible ATMs
With millions of ATMs around the world, you are guaranteed easy access to your bank account, should you wish to make a quick transfer or deposit into your Wells Fargo savings account.
Online Savings Methods
Along with the simple expedience of automatic transfers, Wells Fargo helps you track your savings progress with My Savings Plan®, an excellent tool to help you reach your goals.