Today, I’ll share with you How to open a Wells Fargo savings, Business and checking account in 2022.
Also included is how to open an account online as a Nigerian or foreigner from any other countries.
Wells Fargo is one of the best banks in America with it’s corporate headquarters located in San Francisco
How to open a Wells Fargo Checking accounts
Wells Fargo bank offers various types of checking accounts to suit each of their customers needs. It’s checking accounts are a safe place to keep your money as it is fully insured by the Federal Deposit Insurance Corp.
Checking accounts are for those who need the most basic financial pack, for customers who want lots of extra perks and features, and for individuals who have bad credit or none at all.
The process for opening a Wells Fargo checking account follows the same basic steps for each account type.
Before making decisions, please ensure you compare all the checking accounts options available to determine which one is best for you.
You can open a wells fargo checking accounts in 3 ways
- Online: You can open Wells Fargo checking account online by following this link.
- Via phone call: opening Wells Fargo checking accounts is also available via a phone call. You can do so by dialing 1-800-869-3557
- Visiting a branch: you can open an account by visiting your nearest Wells Fargo bank branch. This locator tool will guide you in locating the nearest branch to you.
Note: opening Teen and Student checking accounts is not available online or via phone calls. Customer must visit any of the Wells Fargo branch to process an account.
Types of Wells Fargo checking accounts
Like I said earlier, Wells Fargo has 4 types of checking accounts. They are discussed below:
1. Clear Access account
Clear access, otherwise knows as checkless checking, is a perfect choice for customers from the age 13 to 24 that have a co-owner who’s an adult. It is a banking solution without paper checks.
- Minimum a/c opening deposit: $25
- Monthly service fees: $5. This is waived for primary account customers of age 13 to 24
- Debit card
- Bill pay and online transfers
- Mobile deposit
- Text banking
- State-issued driver’s license
- National ID card
- U.S. passport
For teens who don’t have the above documents, Social Security card and a birth certificate can be used instead.
- 17 years and above children can be a primary owner of this account.
- Children between the age of 13 and 16 can jointly own this account
2. Everyday Checking
This is the widely used wells fargo checking account with minimum Opening Deposit of 25 dollars and monthly service fee of 10 dollars.
It’s a perfect choice for customers looking for simple way to bank. Good for college students and individuals having lower balances.
- Mobile deposit
- Debit card
- Text banking
3. Portfolio by Wells Fargo
The Wells Fargo Portfolio is for customers who maintain high balances and want monthly rewards. It is an interest-based checking account that offers the highest level of benefits and rewards to its customers. This account is for customers looking for world-class, VIP services and benefits.
A minimum deposit of US $ 25 is required to open an account. It has an annualized return of 0.01%. Annual Percentage Yield may vary depending on where you live, so please inquire about the APY of your location before opening portfolio by wells fargo account.
A monthly fee of $ 25 is charged to maintain this checking account, unless the account holder has a minimum of $ 20,000 in linked deposit accounts at the end of the month.
4. Preferred Checking
This account is best for customers who want to receive interest for their savings. It comes with a minimum Opening Deposit of 25 US dollars and 15 dollars monthly maintenance fee.
The monthly fee can be waived if the following conditions are met:
- If customer has linked the preferred checking account to a Wells Fargo Mortgage
- At least 1000 dollars is deposited in to the account.
- Customer keeps at least 10,000 dollars in his or her account balance for the month.
Bill pay and online transfers
Nigeria and other foreign countries
To open the Wells Fargo account as a Nigerian or if you’re from other foreign countries, in Africa or anywhere else, you can do so by following these steps:
Step 1. Go to Wells Fargo’s website, and sign up by filling the online application form.
Step 2: After signing up, print out the completed form
Step 3: Another few forms (signature card and the service agreement) will be presented to you which you need to fill and print as well.
Step 4: You will be required to submit your bank statement for the last 3 months. Also, you will need to collect bank reference letters from your local bank and submit it online on Wells Fargo website
Step 5: Verification of your signature is the next step. You can do this in 3 different ways:
- With your local bank SWIFT message: Have your local bank send SWIFT message type 199 to Wells Fargo. You’re lucky if message type 199 is available in your local bank. Most of the bank officers have never heard of SWIFT message type 199 before!
- Through IPB office: you can Verify your signature by using San Francisco IPB office. If you live near San Francisco, or any neighboring countries, you wouldn’t have any need for this since you already are in the US or close. You should, instead, visit any Wells Fargo bank closest to you.
- You can Notarized your signature by US Embassy or Consulate. This is a more convenient way so long as you live close. You may need to submit your document at the embassy and come back for it in a week time.
How to open a Wells Fargo Savings Account
There are 2 types of savings accounts that you can open with Wells Fargo. They are explained below:
1. Way2Save savings account
Way2Save savings account by Wells Fargo is one of its bank accounts developed to help customers who are struggling with their savings culture.
With the automatic savings features that comes with Way2Save savings account, you don’t have to always initiate the process or push yourself to manual savings.
If you’re having trouble saving on your own, a Way2Save account can definitely come in handy for anyone who prefers an automated saving process.
Features of Way2Save Savings Account
- Comes with $25 Minimum opening deposit
- 5 dollar monthly service fee.
- Daily or monthly automatic transfers to Way2Save account from your linked checking account
- Save As You Go
- Optional Overdraft Protection for your checking account
The Way2Save account is a great backup for your Wells Fargo checking account as it offers both automatic monthly transfers and free overdraft protection.
If you’re looking for a better savings account to grow your money, you may need to look elsewhere.
Despite the seamless approach to saving in a Way2Save Wells Fargo savings account, other bank savings accounts may offer better returns.