Wells Fargo Premier Checking Review [2025]: VIP Perks

Wells Fargo Premier Checking Basics

Who Wells Fargo Premier Checking is right for

While anyone can open a Wells Fargo Premier Checking account with just $25, it's best suited for high net worth individuals who have at least $250,000 to deposit across linked Wells Fargo accounts, including checking, savings, CDs, IRAs, and investment accounts. That way, you can avoid the $35 monthly service fee.

Beyond balance requirements, though, this account is designed for those looking for a higher level of service. Let's face it — it's often impossible to talk to an actual human when you have a question these days. This account includes a dedicated team and 24/7 phone support. Other banks like J.P. Morgan Private Client require a much higher balance to access that level of service.

The Wells Fargo Premier Checking account is also a good choice for frequent travelers. Sometimes it can be a hassle to find an in-network ATM that won't charge you to access your own money. I've been to ATMs on vacation or overseas that charge as much as $6 in ATM fees. With Wells Fargo's Premier Checking, you not only get access to thousands of fee-free ATMs, but the company also reimburses 100% of the fees charged by out-of-network ATMs.

And if you like to travel abroad, you get a 2% discount on the exchange rate for foreign currency purchases or exchanges.

Account features and benefits

Many waived fees

While Wells Fargo may charge you a $35 monthly fee for a Premier Checking account if your account balance is under $250,000, that is pretty much the only fee you'll have to pay. The account doesn't charge fees for ATM transactions, foreign transactions, cashier's checks, personal checks, or money orders up to $1,000.

You will be charged $35 for overdrafts that Wells Fargo pays if you don't have sufficient funds in your Premier Checking account. However, you can avoid this fee by linking an eligible savings account, credit card, or line of credit for overdraft protection. You also won't be charged a fee if the transaction is less than $10 or is returned due to non-sufficient funds (NSF).

Discounts on Wells Fargo investment products

A Wells Fargo Premier Checking account also enables you to get discounts on Wells Fargo investment products. Those discounts include:

• 0.10% off the 0.35% advisory fee for Intuitive Investor automated investing portfolio
• Waived annual account fee for using Wells Fargo Advisors to create an investment portfolio
• $0 online stock and ETF trades

Favorable interest rates

As a Wells Fargo Premier Checking account holder, you also have access to special relationship interest rates on CDs and savings accounts, as well as interest rate discounts on some mortgages and other loans.

Wells Fargo Premier customer service

Wells Fargo is the second-largest bank in the U.S. and has branches in 37 states, so there are many physical locations you can visit to open an account or get help with an existing one. The Wells Fargo website has a comprehensive FAQs section where you can find answers to many of the questions you may have about your account. You can also contact Wells Fargo customer service by calling 1-800-869-3557.

Alternatives

Wells Fargo's Premier Checking account is a good option if you want to avoid paying ATM fees and other banking and investing fees, especially if you have an account balance of $250,000 in combined accounts (to avoid the $35 monthly service charge). However, if it doesn't quite fit your needs, there are other high net worth accounts that may be a better fit for what you are looking for.

Citigold Private Client

Citigold Private Client definitely caters more to high-worth customers. To open this account, you need to have a minimum combined average monthly balance of at least $1 million in linked Citibank deposit, retirement, and investment accounts. The benefits of being a Citigold Private Client include no fees on ATM or foreign transactions, VIP access to private dinners and events, travel perks, and more. You also get access to a dedicated team of wealth advisors that can help you with everything from financial planning to retirement and estate planning.

Chase Private Client Checking

In many ways, Chase Private Client Checking is similar to Wells Fargo Premier Checking. Both offer free worldwide ATM transactions and have a $35 monthly service fee. However, the threshold you need to reach to waive the monthly fee is considerably less with Chase than it is with Wells Fargo. You'll need a combined balance of $150,000 in your Chase accounts to get the fee waived, compared to $250,000 with the Wells Fargo Premier checking account. Chase Private Client Checking also has no fees for incoming or outgoing wire transfers while Wells Fargo only offers fee-free outgoing wire transfers.

FAQs

Bottom line

If you've got $250,000 to deposit in Wells Fargo checking, savings, CDs, IRA, or investment accounts, the Wells Fargo Premier Checking may be a solid choice. It gives you fee-free ATM access worldwide, a suite of waived banking costs, and some nice perks on investments and loans.

However, if your balance is not at that level, the $35 monthly service fee and $35 overdraft fee may make you consider a different checking account. It may be worth comparing other checking accounts offered by the best banks to see if there's one that better matches your financial needs.

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2025 award winner Best Checking and Savings Combo

SoFi Checking and Savings Benefits

• Earn up to 3.80% APY¹ <p>New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Direct Deposits received during the Direct Deposit Bonus Period) <b>OR</b> $300 (with at least $5,000 total Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. See full bonus and annual percentage yield (APY) terms at <a href="http://www.sofi.com/banking#1">sofi.com/banking#1</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p> <p>SoFi members who enroll in SoFi Plus with Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi Plus members are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of Jan. 24, 2025. There is no minimum balance requirement. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>. See the SoFi Plus Terms and Conditions at <a href="https://www.sofi.com/terms-of-use/#plus">https://www.sofi.com/terms-of-use/#plus</a>.</p> and collect up to a $300 cash bonus with direct deposit or $5,000 or more in qualifying deposits² <p>SoFi members who enroll in SoFi Plus with Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi Plus members are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of Jan. 24, 2025. There is no minimum balance requirement. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>. See the SoFi Plus Terms and Conditions at <a href="https://www.sofi.com/terms-of-use/#plus">https://www.sofi.com/terms-of-use/#plus</a>.</p>
• No account, overdraft, or monthly fees³ <p>We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a></p>
• Get your paycheck up to two days early⁴ <p>Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.</p>
• Access additional FDIC insurance up to $3 million⁵ <p><b style="font-family: Rubik, -apple-system, BlinkMacSystemFont, &quot;Segoe UI&quot;, Roboto, &quot;Helvetica Neue&quot;, Arial, sans-serif;">SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations.&nbsp;Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at&nbsp;<a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>.</b></p>

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FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

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