You can earn more interest on your savings with the available Capital One savings accounts and CDs. But the Capital One accounts simply provide better benefits. Savings accounts and CDs are designed to park your funds in low-risk, FDIC-insured environments, and both the Capital One and Wells Fargo products accomplish that. The 360 Checking account strikes a better balance between interest rates and not having many fees.Ĭapital One wins in this category because of its high-yield savings account and higher CDs rates with no minimum deposit requirements. But you also need large balances in linked Wells Fargo accounts (including checking, savings, CDs, and investment accounts) to avoid monthly maintenance fees on the Prime Checking and Premier Checking accounts. Note that the APY on the Wells Fargo Prime Checking and Premier Checking accounts can match or outperform the APY on the Capital One 360 Checking. But you don’t have to worry about a monthly service fee at all with the Capital One 360 Checking account.
You can avoid the monthly fees on the Wells Fargo checking accounts by performing certain actions, such as having $500 or more in qualifying direct deposits or a $500 minimum daily balance on the Everyday Checking account. Wells Fargo has more checking accounts to choose from, but they all have minimum opening deposit requirements and come with monthly fees. With Wells Fargo, you can have most or all of your banking services with one company, potentially making it easier for you to manage your finances.Ĭapital One is the overall winner in this category if you want an easy-to-use checking account with little to no fees and no minimum account balance or opening deposit requirements. This includes home loans, personal loans, and retirement accounts. Wells Fargo has thousands of more in-person locations in dozens of more states than Capital One.Īnd although Wells Fargo doesn’t have as many credit cards or the best interest rates on its banking products, you have loads more banking products and services to choose from. Wells Fargo makes sense if you prefer to visit in-person banking locations and have a wide variety of banking needs. 23, 2023) APY on the Capital One 360 Performance Savings easily beats the 0.15% APY on the Wells Fargo Way2Save or the 0.25%-2.50% (as of May 9, 2023) APY on the Platinum savings accounts. Compared with Wells Fargo, Capital One provides over 20 more credit cards in addition to its deposit accounts, which gives you more options to find the best fit for your financial situation.Īnd if you want your savings account to earn some money, the 4.15% (as of Jun.
Bank.īut being mostly online with fewer branch locations and a mobile app means lower overhead costs, which appears to translate to additional customer benefits. Capital One doesn’t have many in-person locations as you might expect from other banks such as Citi, Chase, Bank of America, and U.S. In-person locations and a wide range of banking servicesĬapital One makes sense if you want a bank that typically provides elevated interest rates and a large number of credit cards. Corporate and investment banking servicesĮlevated interest rates and a large selection of credit cards.
Number of states with in-person locations
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