Which Bank Is Better: Wells Fargo vs. Capital One?
Written by
Rudri Patel
Edited by
Melanie Grafil
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When it comes to managing your finances, the right bank can make all the difference, but choosing one is easier said than done.
The good news is that a little bit of digging can help you unlock the ideal bank for your situation. Here’s a breakdown of Capital One vs. Wells Fargo, so you can decide which one better aligns with your needs.
Quick Overview of Capital One and Wells Fargo
Capital One offers checking, savings, CDs and credit cards. Capital One has a wide selection of ATMs all across the country, with some physical branches. Wells Fargo offers checking, savings, business accounts, CDs, auto and personal loans, mortgages and credit cards.
Key Benefits of Banking With Capital One and Wells Fargo
Capital One
- No minimum fee on accounts
- Cashback and travel rewards on credit cards
- Capital One offers great APYs on savings and CDs
Wells Fargo
- Wide variety of accounts
- Extensive network of branches
- App rated high on Apple Store and Google Play
| Feature | Capital One | Wells Fargo |
|---|---|---|
| Branch locations | 750 | 8,050 |
| ATM locations | 70,000 | 13,000 |
| Types of accounts offered | Checking, savings, business accounts, loans, credit cards | Checking, savings, business accounts, loans, credit cards |
Capital One vs. Wells Fargo: Account Options Comparison
Basic checking and savings are everyday accounts that most customers need for their basic financial needs. Here’s how the checking, savings and credit cards of Capital One and Wells Fargo stack up against one another.
Checking Account Comparison
Key Features of Capital One Checking Accounts
- No monthly fees for checking accounts
- Offers online and mobile banking, early paycheck access and access to over 70,000 fee-free ATMs
- Teen account offered with no minimums or fees. The account comes with a debit card.
Key Features of Wells Fargo Checking Accounts
- Wide variety of checking accounts, including Everyday, Teen, Premier and Prime checking accounts
- Minimum deposits are low
- Some checking accounts earn interest
Capital One vs. Wells Fargo: Which Offers Better Benefits?
For a no-nonsense checking account with no minimum fees or monthly balance requirements, Capital One is best for everyday needs. Wells Fargo offers more advanced checking account options for higher net worth individuals.
Savings Account Comparison
Key Features of Capital One Savings Accounts
Capital One offers a 360 Performance Savings account and a teen savings account. The 360 Performance Savings account offers an APY of , and there is no required minimum deposit for the account. There is also no monthly maintenance fee.
Key Features of Wells Fargo Savings Accounts
Wells Fargo offers three savings accounts, including Way2Save, Teen accounts and Platinum savings. Way2Save requires a minimum deposit of $25 and earns interest rate, and has a minimum balance of $300. There is a monthly service charge of $12 (that can be waivable). Wells Fargo offers a Platinum Savings account that can earn up to APY, and there is a $12 monthly service charge.
Accessibility and Mobile Banking Features
The Capital One app earned a 4.9 out of 5 stars rating in the Apple Store and 4.5 out of 5 stars on Google Play. Wells Fargo earned a 4.9 out of 5 stars rating in the Apple Store and 4.8 out of 5 stars on Google Play.
Credit Cards
Capital One is best if you want the option of strong travel rewards and partner transfers, no foreign transaction fees for students and credit builders, no foreign transaction fees.
Wells Fargo has a simple cash back on 2% on everything and bonus categories. The cash back amount is up to 3x with Autograph.
The APRs are from 19% to 29.99% for both cards.
| Account Type | Capital One | Wells Fargo |
|---|---|---|
| Checking | – 360 Performance Checking – MONEY Teen Checking |
– Everyday Checking – Clear Access Banking – Prime Checking – Premier Checking |
| Savings | – Capital One Savings – Teen Savings |
– Way2Save Savings – Platinum Savings |
| Credit Cards | – Quicksilver Rewards – Quicksilver One – Savor Rewards – SavorOne Rewards – Venture Rewards – VentureOne Rewards – Student Credit Cards – Mastercard from Capital One |
– Wells Fargo Cash Active Credit Card – Wells Fargo Autograph Card – Wells Fargo Reflect Card – One Key Credit Card – BILT Mastercard – Choice Privileges Card |
| Loans | – Auto loans | – Personal – Auto – Mortgage – HELOC |
Capital One vs. Wells Fargo: Interest Rates
How do the interest rates compare between Capital One and Wells Fargo? This chart will help you compare the two banks, their accounts and the respective interest rates.
| Account Type | Capital One Interest Rate | Wells Fargo Interest Rate | Notes |
|---|---|---|---|
| Checking | Up to | -No minimum deposit required on Capital One Checking account -$25 required on Wells Fargo Checking account |
|
| Savings | – on high-yield savings accounts | -Up to interest rate on regular savings -Up to interest rate on Platinum Savings |
-No minimum deposit required on Capital One Savings -$25 minimum deposit required on Wells Fargo savings accounts |
| CDs | APYs are from to | APYs are up to | -No minimum deposit for Capital One CDs -Terms range from six – 60 months -Requires $2,500 to $5,000 minimum deposit for Wells Fargo CDs -Terms three to one year online; more terms may be available in person |
| Loans | Auto loan interest rates are not available on the website. You may need to contact customer service to confirm. | Auto loan interest rates are not available on the website. You may need to contact customer service to confirm. | Call to find out more about auto loans |
| Mortgages | Capital One doesn’t offer mortgages. | You may need to contact customer service to confirm. | Credit score, loan amount and down payment will impact your mortgage interest rate. |
Fees and Costs: Capital One vs. Wells Fargo
What are the monthly, ATM and other fees charged by Capital One and Wells Fargo?
| Fee Type | Capital One | Wells Fargo |
|---|---|---|
| Fee type | Capital One | Wells Fargo |
| Monthly fees | $0 | -$10 a month for checking -$5 a month for savings; can be waived if you meet requirements |
| Overdraft fees | None | $35 per overdraft, max of 3 |
| ATM fees | -$0 at Capital One, Allpoint and MoneyPass ATMs -$2 out-of-network fee |
-Free at Wells Fargo ATMs -$3.00 out-of-network fee |
| Minimum balance requirements | None | -$500 for Everyday Checking -$300 for Everyday Savings |
| Wire transfer fee | $30 outgoing domestic wire fee | $30 outgoing domestic wire fee |
| Stop payment fee | $25 | $31 |
Pros and Cons: Capital One vs. Wells Fargo
What are the advantages and disadvantages of Capital One and Wells Fargo? Take a look at the pros and cons and determine which one works best for you.
| Category | Capital One | Wells Fargo |
|---|---|---|
| Pros | – No monthly fees on most accounts – No minimum balance requirements – Highly rated mobile app (4.9 on Apple, 4.5 on Google Play) – Variety of credit cards with travel and cashback rewards |
– Large branch network for in-person service – Strong small business banking options – Offers a wide range of mortgage and auto loans – Financial tools for budgeting and tracking |
| Cons | – Limited access to physical branches – Few business banking options – Fewer loan products compared to major banks |
– Monthly maintenance fees may apply – Out-of-network ATM fees can be high – Lower-than-average rates on CDs and savings accounts |
Who Should You Bank With?
Capital One and Wells Fargo each have strengths. Which bank works best depends on your individual banking preferences.
Who Should Bank With Capital One?
If you are focused on getting the most out of your savings, then Capital One is a worthwhile option. Many of the deposit accounts offered through Capital One offer very competitive rates. For example, you could earn APY on a one-year CD, which is significantly higher than the APY offered by Wells Fargo for most one-year CD terms.
The catch is that you will have fewer in-person opportunities to manage your funds. However, you’ll still have fee-free access to over 70,000 ATMs. Also, Capital One offers several accounts that do not require additional fees. If you prefer online banking, fee-free accounts and cashback rewards, Capital One is better suited for your needs.
Who Should Bank With Wells Fargo?
If you care about the ability to manage banking needs in person, then Wells Fargo is likely a better fit. While Capital One does offer some in-person options, Wells Fargo has a much larger footprint of physical banks. With more physical branches, it’s easier for Wells Fargo customers to get access to help in person.
For anyone who wants to manage all of their finances in a single spot, the wide range of Wells Fargo account types, loans and investment advising could make that streamlined dream a reality. Before you jump in, make sure to read the fine print. The investment advising services come with assets under management fees that can add up quickly. And many of the deposit accounts offer less attractive rates than other banks, like Capital One.
Sarah Sharkey contributed to the reporting for this article.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of April 22, 2025.
Savings vary depending on account usage and payment behavior. *Capital One interest rates are accurate as of 8/26/2025. See website for all current rates.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
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- Federal Reserve. 2023. "FRB: Large Commercial Banks."
