Know which are the best offers of these banks.
Without a doubt, deciding in which bank we are going to open a checking account or in which we are going to deposit our trust so that it saves our savings can be a difficult decision. Since although banks provide the same financial services the benefits and advantages may vary from entity to entity. Because of this, here are the advantages and disadvantages of the Chase and Wells Fargo banks so you can choose the one that suits you best.
Chase Bank is one of the most popular and recognized banks in the United States, since it offers countless offers and benefits when opening an account or obtaining a loan. Among the accounts that you can open in this bank are the savings, checking and student accounts. In addition, you can apply for mortgage loans, personal loans and lines of credit. By opening an account in Chase and adding direct deposit, you can get up to $ 200.
By opening a Chase Savings account you can save money easily. This account has a monthly charge of $ 5, however, if you keep $ 300 in the account or make a recurring automatic transfer of $ 25 or more from your personal Chase checking account or Chase Liquid card you will not have to pay the monthly charge. Similarly, if you have a Chase linked personal checking account or are under 18, you do not have to pay the monthly fee. However, the interest rate of the savings account of 0.01% and to open the account does not require a minimum deposit.
Among the credit cards offered by Chase, is the Chase Freedom Unlimited Card. This card has $ 0 annual fees and 0% interest during the first 15 months on purchases and transfers. However, after 15 months the annual percentage rate (APR) can vary between 17.24% to 25.99%. In addition, during the first year you can get up to 3% reimbursement for each purchase you make (cash back). After the first year the refund will change to 1.5%.
Other benefits you can get with Chase:
- Chase has an application with which you can view your transactions, statement, make bank transfers, etc.
- Home loans and buying a car.
- Travel credit cards with which you can earn points and rewards.
- Chase has more than 16,000 ATMs and more than 5,000 branches in the United States
Wells Fargo is one of the oldest and largest purchasing power banks in the United States. However, in recent years, it has lost customers due to the scandal of the millions of phantom accounts that were opened without the permission of the clients, in 2011. After receiving a fine from the Bureau of Consumer Financial Protection of the States United (CFPB), the bank apologized and is currently trying to offer its customers the best deals and benefits.
Among the benefits that Wells Fargo offers are mortgage loans, credit cards, financing, checking and retirement savings accounts.
The WellsFargo Way2Save Savings account is one of the most popular since it only requires a minimum deposit of $ 25 to open the account. The account has a monthly charge of $ 5 that you can avoid if you maintain a minimum daily balance of $ 300 or add the automatic recurring savings option. If a person under 18 is the account holder, they do not have to pay the monthly fee of $ 5. If you have a Personal Taxpayer Identification Number (ITIN) you can open this account.
The account transfers $ 1 of your funds, from your Wells Fargo checking account linked to your Way2Save Savings account for each qualifying transaction. This way you can save automatically.
The Wells Fargo Cash Wise Visa credit card allows you to get $ 200 in cash rewards when you spend $ 1,000 on purchases in the first 3 months. Then you can get unlimited rewards of 1.5% of the purchases you make. The interests of the card or APR may vary from 16.24% to 28.24%, but during the first 12 months the card has no interest.
Other benefits you can get at WellsFargo:
- Online banking and mobile that allows you to know your statement and make transactions.
- Wells fargo has a blog that provides financial education and advice.
- Wells Fargo can help you make currency changes and international money orders.
- It has more than 13,000 ATMs and approximately 5,500 bank branches throughout the country.
To choose a good bank you must take into consideration:
- Number of offices and ATMs. Since, you must have several branches accessible in the area where you live.
- The charges and interests must be as low as possible, so that you can save effectively.
- If you open a savings account, the interest must be high so you can earn money and increase your savings.