History of Wells Fargo Bank

Wells Fargo Bank first opened in San Francisco in 1852 as a financial entity dedicated to serving the West. The gold rush was booming and Henry Wells and William Fargo founded the bank as a way to service all the needs of the time. The organization offered a number of services including  buying gold,  selling paper bank drafts and express delivery of valuables.

Wells Fargo Bank utilized stagecoach, steamship, railroad, pony rider or telegraph to quickly handle the financial transactions of their client base. Wells Fargo Bank also helped launch the Great Overland Mail Company and the infamous Pony Express. The most notable contribution to transportation of valuables was the Wells Fargo Stagecoach, that had a six horse team to expedite the process. Of course as the railroad system evolved, Wells Fargo Bank relied more on the transcontinental railroad system and became a nationwide express company.

That express route helped Wells Fargo Bank market themselves and branch out. In 1905, the express delivery operation and Wells Fargo Bank separated it’s businesses from each other. The financial institution also managed to weather the Great Depression, all the while Hollywood was marketing the business by featuring the Wells Fargo Stagecoach in many popular westerns of the time.

In the 1960s, Wells Fargo Bank expanded into the northern portion of the state and became an increasingly popular regional bank that was always up to date on banking trends. The 1980s fueled a complete statewide expansion for Wells Fargo Bank and their online services were also launched then. Because of the continued influence of modern technology and the expansion of the financial organization, it is once again providing national service.

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These articles are written by the in-house GOBankingRates team.