Which bank is better for you?

Insider’s experts pick the best products to help you make smart money decisions.here’s how). In some cases, we may be paid a commission our partnersHowever, our opinions are not influenced by these offers. All offers on this page are subject to the following terms and conditions

Two of the largest national banks in the US are Chase and Wells Fargo. We’ve compared checking and savings to help you decide which bank accounts and services are best for you. We’re also comparing financial institutions’ trustworthiness, so you can learn more about each institution.

Pros and Cons of Chase

Pros and cons about Wells Fargo

Comparing accounts

Chase and Wells Fargo have a large number of checking accounts.

Below is a comparison of two checking accounts the average person would open, if they were to look for a checking. minimal bank fees. 

Comparisons of savings accounts

Chase and Wells Fargo offer both traditional and premium savings accounts. We compared the two savings accounts. monthly services feesYou can waive the fee by paying $5 or less 

CD comparisons 

Which bank is more reliable?

We use ratings from Better Business Bureau to assess how banks deal with customer issues. 

The Better Business Bureau gave JP Morgan Chase & Co. (Chase’s parent company) a A ratingDue to government action taken against it. Wells Fargo received an F ratingBecause it is responding to closed complaints and has been subject to government action.

A good BBB rating doesn’t guarantee a perfect relationship with a bank. Talk to customers and read reviews online about their experiences.

Chase and Wells Fargo both have had some public controversies over the years.

Here are recent cases with JP Morgan Chase & Co.:

Wells Fargo has been involved with the following issues:

• The Consumer Financial Protection Bureau ordered Wells Fargo to pay more than $12,000 in December 2022. $3.7 billion in a settlement that accused the bank of wrongfully charging fees that led thousands of customers to lose vehicles and homes. The bank was also accused of charging incorrectly overdraft fees on savings and checking accounts.  
• In 2021, the Office of the Comptroller of Currency issued a cease and desist orderWells Fargo was sued by the OCC for its compliance risk management program that resulted in unsafe business practices.
• 2020 was the year that Wells Fargo was required to pay the Department of Justice $3 billion in a settlementCompany employees were accused of opening bank accounts without authorization to achieve unrealistic sales goals. 
• 2019 Wells Fargo paid the city of Philadelphia$10 million settlement. The city claimed Wells Fargo was involved in predatory mortgage lending to racial groups.
• The bank also paid out in 2019  $10 million in a settlementCalifornia Department of Insurance (CDI). According to the CDI Wells Fargo signed-up and charged 1,500 customers for insurance products without their knowledge.

Frequently Asked Questions