Wells Fargo Clear Access Banking Account 2024 Review

Wells Fargo is one of the nation's largest banks offering checking accounts, savings accounts and other financial products. The Clear Access Banking Account is designed for people who are interested in checkless banking, with no overdraft fees. 

Wells Fargo Clear Access Banking is designed to help you manage your money simply, without overdraft fees. You can only spend the money that you have on hand, which could make it a great pick for a first checking account or a second chance checking account. 

You might consider Wells Fargo Clear Access Banking if you:

• Want a basic checking option with no overdraft fees
• Are interested in helping your teen get started with banking
• Would like to have access to branch banking and ATMs
• Don't need to write paper checks

There's a monthly maintenance fee for this account but you have several options for waiving it. The opening deposit requirement is just $25 and you can open an account online or at a Wells Fargo branch.

Compared to Other Checking Accounts

U.S. Bank Safe Debit Account

U.S. Bank Safe Debit is a streamlined checking account with no overdraft fees and built-in tools to help you track your spending. There's a low monthly maintenance fee which you have multiple ways to waive. You can bank online, at U.S. Bank branch locations or at U.S. Bank ATMs. 

Read our full editorial review of U.S. Bank Safe Debit

KeyBank Smart Checking

KeyBank Smart Checking is a free checking account that's designed for everyday needs. There are no minimum balance requirements or monthly fees and overdraft protection transfers are also fee-free. This account comes with paper checks and you can manage your money at more than 40,000 Key and Allpoint ATMs. 

Read our full editorial review of KeyBank Smart Checking

Salem Five Direct eOne Checking Account

Salem Five Direct eOne Checking is an online checking account that pays interest and has no monthly fees. You can also earn cash back on debit card purchases and get access to fee-free ATMs. There are no minimum balance requirements and Salem Five Direct also offers high-yield savings accounts and CDs if you're looking for more ways to manage your money. 

Read our full editorial review of Salem Five Direct eOne Checking

Bank of America Checking

Bank of America Safe Banking is a checkless checking account that doesn't charge overdraft fees. You might compare this account to Wells Fargo Clear Access Banking if you're specifically interested in traditional branch banking. There's a monthly maintenance fee but you have multiple options for waiving it. 

Read our full editorial review of Bank of America Checking

Interest and Rewards

Wells Fargo Clear Access Banking doesn't earn interest or rewards. That's because it's meant to be a basic checking account for everyday use. 

Is interest checking or rewards checking a better choice? It could be if you'd like to grow your money or get back some of what you spend with your debit card. 

There are plenty of banks that offer interest checking and rewards checking accounts. Some are online banks, others are traditional banks. 

If you're considering an interest or rewards checking account, do your research. Look at how much interest you could or the rewards structure vs. what you'll pay in fees to have the account. 

Fees

Wells Fargo doesn't charge overdraft fees for Clear Access Banking but it's not entirely fee-free. Any time you're considering a new checking account it's important to look at how the fees add up.

Other Service Fees - Wells Fargo Clear Access Banking Account

The $5 monthly maintenance fee is waived if:

• The primary account owner is 13 to 24 years old
• There's a Wells Fargo Campus ATM Card or Campus Debit Card linked to the account
• You have a qualifying monthly non-civilian military direct deposit through the Wells Fargo Worldwide Military Banking program

If you don't meet any of those conditions you'll have to pay the fee. 

Branch and ATM Access

Wells Fargo offers ATM access at more than 10,000 locations and 4,000+ branches. You can use Wells Fargo or non-Wells Fargo ATMs to withdraw cash but you'll pay a fee for certain transactions. 

The fee is:

• $2.50 at non-Wells Fargo ATMs inside the U.S.
• $5 at non-Wells Fargo ATMs outside the U.S. 

Branch locations offer full banking services so you can deposit cash or checks, cash a check, apply for loans or credit cards or open a new bank account. Wells Fargo has branches and ATMs in more than three dozen states. 

Account Access

If you don't have time to get to a Wells Fargo branch or ATM you can manage your account via online and mobile banking. You can use either one to:

• Pay bills
• Transfer funds between Wells Fargo accounts
• Deposit checks
• View transaction history
• Check your statements
• Set up account alerts
• Send and receive funds with Zelle

You'll have a contactless debit card you can use to make purchases, but there are no paper checks. If you need a check, you can get an official check or a money order at a Wells Fargo branch for a fee. 

Wells Fargo is compatible with Zelle so you can and receive funds without a fee. You can log in to your Wells Fargo account to view your Zelle transfer limits. 

If you need help with your account, customer service is available at branches during regular business hours or over the phone. Social Care Support is also available seven days a week through Facebook and X (formerly Twitter). 

FDIC Insurance

FDIC insurance is designed to protect depositors at insured banks. If a bank fails, the FDIC steps in to make sure you can recover the money in your account. 

Wells Fargo is FDIC-insured so you can be reassured that your money is safe. Accounts are protected up to the current FDIC coverage limit, which is $250,000 per depositor. 

What You Need to Open

What you need to open a Wells Fargo Clear Access Banking account depends on your age. If you're 13 to 17 years old you'll need to visit a branch to open an account with a parent or legal guardian's help. 

If you're over 17 you can open your account online or at a branch. Here's what you'll need to open an account:

• Government-issued ID, which may include a driver's license, Social Security card or birth certificate
• Proof of address
• Minimum opening deposit

You'll also need to share some basic information like your name, date of birth, employment status and phone number. 

Parents or guardians must be listed as a co-owner on minor accounts. The minimum deposit is $25 but there are no minimum balance requirements after that. If you're opening an account online you'll need to link an external bank account to make your first deposit. 

Frequently Asked Questions

Is Wells Fargo a good bank?

Wells Fargo is a good bank for people who want branch banking access with a sizable ATM network. The bank has had some controversies over the years, including a fraudulent account scandal that was uncovered in 2016, but it's taken steps to repair its reputation and provide outstanding services to its customers. 

Does Wells Fargo Clear Access Banking have fees?

There are no monthly fees or overdraft fees with Wells Fargo Clear Access Banking. However, there are some other fees to be aware of. For example, you'll pay a fee to use another bank's ATM and there are also foreign transaction fees and wire transfer fees. 

What's the best teen checking account?

Teen checking accounts can give young people an opportunity to learn some basic money management skills. The best teen checking account is one that offers the kinds of features your teen needs while charging minimal fees. Wells Fargo Clear Access Banking can be opened for teens as young as 13 who want a checking account of their own.