I use this account for my husband and mine's business. We've used it for the past three years and have no major complaints. The customer service is better than our former bank, BoA. Once there was a strange withdrawal and I couldn't get a hold of my husband and I contacted them and they were very helpful, and when I later got a hold of my husband he said he had just withdrew some without first letting me know, but they were very diligent.
Wells Fargo Business Checking Account
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- MONTHLY FEE $12
- MIN BALANCE TO AVOID MONTHLY FEE $3000
- OTHER WAYS TO AVOID MONTHLY FEE Maintain $6,000 average ledger balance OR Have a Wells Fargo Business Payroll Services transaction from this account each month.
- OVERDRAFT FEE $35
- NEGATIVE ACCOUNT BALANCE FEE Info Not Found
- IN-NETWORK ATM TRANSACTION FEE Free
- ATM NETWORK SIZE N/A
- OUT-OF-NETWORK ATM TRANSACTION FEE $2.50
- REBATE OF ATM OWNER SURCHARGE Not Offered
- FOREIGN ATM FEE 3% (and $5)
- DEBIT CARD VISA
- DEBIT CARD FOREIGN TRANSACTION FEE 3%
Wells Fargo Business Checking Account Additional Info
- REWARDS No
- ONLINE BILL PAY FEE $0
- ADDITIONAL REQUIREMENTS None
- Convenience of tracking expenses by category with Business Spending Report.
- Business Bill Pay is free of monthly service fees if you have an eligible checking account. For customers who do not have an eligible account, Business Bill Pay is free for the first two months and remains free of monthly service fees if you maintain at least $25,000 in combined balances in your qualifying business and personal accounts at all times.
The graph above is based on WalletHub data. Actual rates may vary. For time periods with multiple applicable rates in our database, based on different criteria, the above graph reflects the lowest interest rate recorded. Before submitting an application, always verify the rates, fees, and all terms and conditions with the respective financial institution.
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Wells Fargo Business Checking Account Reviews
I was originally a customer of Wachovia, and Wachovia got bought out by Wells Fargo. With Wachovia, I had free monthly checking. When Wells Fargo came in, they hit me with a monthly fee! I'm on a small budget, and this was bad for me. I had to leave Wells Fargo, and switch to my current Credit Union, where I once again can get free checking.
I think this checking account is really good in my opinion. It has a lot of benefits to it. It's too bad you can't get rewards for it. I think that would have been pretty nice but oh well, what you see is what you get. I don't really like the monthly fee that much, but it's not all that bad to be honest.
I am really pleased with Wells Fargo so far. I have just recently made the switch from Bank of America and one of the best things about switching has been the service. I am treated with respect at the branch and I never got that at Bank of America. What's more, Wells Fargo got me set up with a real business checking account for the small business I run so I could take advantage of it. The business checking account only requires an automatic deposit of 150 dollars from checking to savings and it's free! You can even transfer the 150 right back to checking if you want. This is a substantially better deal than paying 120 dollars a year at Bank of America just for their awful service. Now I have online banking, mobile banking, and feel like my money is safer overall with the people at Wells Fargo.
I have had a Wells Fargo Business Checking account for many years now and have never had any problems with it. My monthly fee if the balance is below $3000 has been only $10 per month for the past decade or so. The checks are accepted everywhere and the debit card works internationally as well. I would recommend this business account to anybody that has a small business and wants to keep track of their expenses and income.
I had written a previous review about my Wells Fargo personal checking account, which still stands and I am still very happy with that account. In fact, my good experiences with that account led me to open a business account when several family members and I started a small business. For that account I have been overall happy with it, with one important consideration.
I would suggest that those interested in a small business checking account open one with a different bank from their personal checking account. There have been several times when I deposited a check using the mobile app where it went to the wrong account--both personal checks have been deposited in my business account and business checks have gone to my personal account. I have been told by multiple people that this "shouldn't happen" and is "rare" but honestly that isn't my experience. My experience has been that it takes at least three business days to sort out and often involves calling multiple customer service reps since inevitably the reps that service checking accounts cannot access business accounts and vice versa to understand the problem. This has been my only problem with Wells Fargo as far as the business account and I would say I'd likely be a lot happier if I had just chosen a different institution for one or the other of the accounts.