Wells Fargo Small Business Checking Review (2023)

  • Wells Fargo’s business checking accounts are best for businesses that need the flexibility to accommodate growth.
  • Wells Fargo isn’t offering any introductory offers at this time.
  • Different fees apply to different business checking accounts ranging from $14-40 for monthly maintenance.
  • The bank’s network includes 6,300 physical branch locations in 39 states in addition to 13,000 ATMs.
  • Wells Fargo offers custom debit cards with your business logo on it.
  • It can be difficult to meet requirements to waive the monthly maintenance fee consistently.
  • Apply for a small business checking account on the Wells Fargo website and then mail application materials and make an opening deposit.

Is Wells Fargo easy to use?

Wells Fargo is one of the most convenient and easy banks to use because their network is so vast. They additionally offer special customer support to small businesses. Conflict resolution and face-to-face banking solutions are particularly easy for those who do not wish to online bank exclusively.

You can access your business checking account anywhere at any moment from multiple devices or one of 13,000 ATM locations. Their liability guarantees an online incident reporting make banking with Wells Fargo have low risk and high fraud protection.

Check out our roundup of the Best Small Business Checking Accounts

What are Wells Fargo’s checking account options?

Wells Fargo offers four different business checking account options:

Simple Business Checking

  • 50 free transactions per month
  • $3,000 in cash deposits per month for free
  • Mobile banking apps with text command
  • Wells Fargo offers special customer service for this account at the Small Business Customer Service phone center

Business Choice Checking

  • 200 free transactions per month
  • $7,500 in cash deposits per month for free
  • Mobile banking apps with text command
  • Fee waivers and discounts for business loans or credit lines

Platinum Business Checking

  • 500 free transactions per month
  • $20,000 in cash deposits per month for free
  • Mobile banking apps with text command
  • Earn interest on the full account balance
  • Fee waivers and discounts for business loans or credit lines
  • No monthly service fee for Platinum Checking accounts (up to 2)

Analyzed Business Checking

  • Treasury management services
  • Earnings allowance benefit
  • Access to Commercial Electronic Office (CEO) Portal
  • Best suited for large companies with high volume transactions and various cash management needs

Does Wells Fargo offer checking account bonuses?

There are no introductory offers for business checking accounts at this time.

What are Wells Fargo’s banking fees?

Wells Fargo has standard business checking account fees if specific account minimums and averages are met relative to the checking account type.

  • Monthly fee range from $14-$40 per month depending on which business checking account your business has chosen these fees can be waived if specific average monthly balances and services are used.
  • Transaction fee: 50 cents for every transaction after the first 200 per month
  • Cash deposit fee: 30 cents per $100 in cash deposited after the first $7,500 of cash deposits each month
  • ATM fee: $2.50 per withdrawal and $2 per balance inquiry at out-of-network ATMs in addition to ATM operator fees. Keep in mind there are over 13,000 ATMs that are free for Wells Fargo users nationwide.
  • Domestic incoming wires: $15
  • Domestic outgoing wires: $30
  • International incoming wires: $16
  • International outgoing wires: $35

How big is Wells Fargo?

The Wells Fargo banking network has more than 6,300 locations across the United States with over 13,000 ATMs. Wells Fargo has more nearby branches than almost any bank in the country. If you are a business looking to receive face-to-face financial customer service, then the Wells Fargo network is one of the largest.

What are Wells Fargo’s checking account features?

When you sign up for a Wells Fargo checking account they, will include the following bonus features to personalize your business account.

Custom Cards

  • Wells Fargo offers complimentary card customization so you can put your business logo right on your company debit or card.

Account Access Manager

  • The Account Manager helps you to manage employees or partners who need to access funds. The account access manager acts as an intermediary to help maintain account security.

Zero Liability Protection

  • Wells Fargo will completely reimburse any suspicious unauthorized account activity like debit card or ATM withdrawals if they are reported immediately and correctly.

How do I open a Wells Fargo account?

To open a small business checking account with Wells Fargo you can begin the application on the website. You will need to send physical documents in the mail and make an initial opening deposit to activate the account.

You can also call 800-416-8658 to apply on the phone with a Wells Fargo account representative. All you need to start the business choice checking account is $25.


Wells Fargo is a large and reputable bank that offers more business checking account options to suit businesses individual needs. You can also outgrow your checking account at Wells Fargo and easily transition up or down to a bigger or smaller account over time. This can be convenient to know you will never outgrow your bank.

While there is no incentive, bonuses, or rewards to incentivize initial checking account signup, knowing you can be serviced at so many locations across the United States and never have to switch banks is a big plus for businesses small and large.

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