Wells Fargo is one of the largest banks in America and has over 5,400 locations. Furthermore, they offer many checking options, including Teen Checking and Opportunity Checking for those who had financial troubles. On the other hand, SunTrust Bank has many less locations, with 1,400 in the southeast region.
If you are wondering if you should bank with SunTrust Bank or Wells Fargo, be sure to keep reading to learn more about the two banks.
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| Wells Fargo | Suntrust Bank | |
| Locations | Approximately 5,400 retail banking branches coast to coast. (Locator) | 1400 bank branches across 11 southeastern states and Washington D.C. (Locator) |
| ATMs | More than 13,000 ATMs across the country. | More than 2000 ATMs across 11 southeastern states and Washington DC. |
| Savings | 0.01% APY. Minimum opening deposit of $25. Monthly service fee of $5, unless you maintain a minimum daily balance of $300, or are under the age of 18. | 3.5/5 |
| CD | Standard Term CD: 0.05% – 0.15% APY. Terms of 3 months to 1 year. Minimum deposit of $2,500. Special CD: 0.30% APY. Terms of 5 months. Minimum deposit of $5,000. Bonus of up to 0.35% APY if you maintain a linked Wells Fargo Prime/Portfolio Checking account. | 4.5/5 |
| Checking | You can choose between a Everyday Checking, Preferred Checking, Business Choice Checking, Platinum Business Checking or Analyzed Business Checking | 3/5 |
| Money Market | 0.05% APY. Minimum opening deposit of $25. $12 monthly service fee, unless you maintain a minimum daily balance of $3,500. Bonus APY of 0.10% requires account linked to Portfolio by Wells Fargo® relationship. | 3/5 |
| Customer Service | 4/5 | 4/5 |
| Mobile App | 4.5/5 | 4/5 |
| Pros | -National availability -Extended customer service hours -Full service bank |
-High APY for CDs
-Free student account -Good customer service |
| Cons | -No free checking option -Low interest rates -Many misc. banking fees |
-No free checking option -Limited branches -Low savings APY |
| Bottom Line | Wells Fargo offers a wide variety of accounts while allowing you widespread accessibility | Southeastern regional bank known for good customer service. |
Promotions from Wells Fargo
CHECKING ACCOUNTSSAVINGS ACCOUNTS
- Checking: You can earn a bonus when you open a new account and complete the requirements.
- Greenhouse: Earn a bonus when you download their app.
- Savings: This account earns 0.01% APY. Minimum deposit $0.01 and there are no monthly service fees
- Certificate of Deposit
- Standard Term CD: 0.05% – 0.50% APY. Terms ranging from 3 month – 12 months. Minimum deposit of $500.
SunTrust Bank Promotions
CHECKING ACCOUNTSSAVINGS ACCOUNTS
- Promotional Bonuses: Suntrust Bank offers a wide range of bonuses for you to take advantage of. With business and personal checking bonuses, you are able to earn the stated amount no matter what your financial background is!
- Select Savings: You are able to earn a 1% annual bonus when you link with a Select Checking or Signature Advantage Checking Account.
- Essential Checking Student Account: For students, you are able to take advantage of a Essential Checking for free for up to 5 years! However, you must be able to prove your enrollment.
- Savings: You are able to earn a 10% Loyalty Cash when you open a Essential Savings, Select Savings or Advantage Money Market Savings Account.
- Certificate of Deposit
- Standard Term CD: 1.75% APY. Terms ranges from 7 days to 10 years. Minimum deposit to obtain APY rate is $2,000.
Conclusion
Wells Fargo and SunTrust Bank are some of the top banking institutions within the U.S. But which is better for you?
In summary:
- If you’re looking for stability and your basic banking features, you’ll find them at Wells Fargo.
- If you prefer a smaller, personal bank that will know your name when you walk into the branch, SunTrust could be a good option if you live near one.
Also be sure to check out our own lists of bank promotions and CD tables!
| PROMOTIONAL LINK | OFFER | REVIEW |
| HSBC Premier Checking Member FDIC | Up to $2,500 Cash | Review |
| Chase Private Client | $3,000 Cash | Review |
| U.S. Bank Business Checking | $900 Cash | Review |
| U.S. Bank Business Checking | $400 Cash | Review |
| Chase Business Complete Checking® | $300 Cash | Review |
| KeyBank Key Smart Checking® | $300 Cash | Review |
| Chase Total Checking® | $300 Cash | Review |
| Chase College CheckingSM | $100 Cash | Review |
| J.P. Morgan Self-Directed Investing | Up to $700 Cash | Review |
| Chase Secure BankingSM | $100 Cash | Review |
| SoFi Checking and Savings Account | $325 Cash | Review |
| Huntington Bank Unlimited Plus Business Checking | $1,000 Cash | Review |
| Huntington Bank Unlimited Business Checking | $400 Cash | Review |
| Huntington Bank Business Checking 100 | $100 Cash | Review |
| Fifth Third Bank Checking | $400 Cash | Review |
| Axos Basic Business Checking | $400 Cash | Review |
| Axos Business Interest Checking | $400 Cash | Review |
| Axos Bank Business Premium Savings | $375 Cash | Review |
Editor Rating
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