Wells Fargo

Wells Fargo

Small Business Banking

Wells Fargo Background

Wells Fargo, named in 2014 by The Banker as “the world’s most valuable bank brand,” is the U.S.s’s fourth largest bank by assets and the second largest by market capitalization, which in April 2015 was $281 billion. It’s also the 23rd largest company in the country. One of the U.S.’s ‘big four banks (along with JP Morgan Chase, Bank of America and Citigroup), Wells Fargo operates across 35 countries and has more than 70 million customers globally. There are three account type for small businesses – Business Choice, Platinum Business, and Analyzed Business. The first is for new and growing businesses; Platinum is intended for established businesses with advanced needs; Analyzed is for companies with high transaction volume or advanced treasury needs. There’s also a Simple Business Checking program for non-profits as well as businesses with limited checking needs.

1. All four account types have a minimum deposit requirement of $50 – lower than a lot of other banks.
2. Monthly maintenance fees range from Simple Business Checking’s $10, to Business Choice’s $14, Analyzed’s $20, through Platinum’s $40.
3. The Simple program provides 50 transactions and $3000 in cash deposited per month; Choice offers 200 transactions and $7500 in cash deposits monthly; Platinum offers 500 transactions and $20,000 in monthly cash deposits – before fees kick in.
4. All account types offer online services with bill pay. All also offer email notifications of monthly account availability.
5. Check images are available for 90 days from the day after the checks are posted.

A good starting place for one considering becoming a Wells Fargo customer is the Business Online page of the company’s very comprehensive web site.