SunTrust Bank vs Wells Fargo: Which is Better?

SunTrust has about 1,400 locations in the Southeast area. They are well known for their great customer services as well. Their checking accounts come with many perks and ways to waive the fees.

With Wells Fargo, they are known to be one of America’s largest banks with more than 5,400 branches. They have many checking account options for people who are in bad financial situations. Plus, they have amazing customer services as well.

Read below for more information comparing SunTrust Bank and Wells Fargo.

	Wells Fargo	SunTrust Bank
Locations	6,000+ Branches (Bank Locator)	1400 bank branches across 11 southeastern states and Washington D.C. (Locator)
ATMs	More than 13,000 ATMs in the country	More than 2000 ATMs across 11 southeastern states and Washington DC.
Savings	0.01% APY Rate Minimum opening deposit of $25 Monthly service fee of $5, unless you maintain a minimum daily balance of $300, or if you’re under 18 years old.	0.01% APY Rate No minimum opening deposit No monthly service fees or tiered interest rates Minimum of $25 a month auto-transfer from a personal checking account
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.	0.50% APY. Terms from 6-24 months. Plus, a $2,000 minimum opening deposit.
Checking	Everyday Checking Preferred Checking Business Choice Checking Platinum Business Checking 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.	Minimum opening deposit of $100. Monthly maintenance fee of $16, unless one automated transfer of $100 happens. Or, a minimum daily collected balance of $10k is maintained.
Customer Service	4/5	4/5
Mobile App	4.5/5	4/5
Pros	-More branches -Higher rates -24/7 customer service	-High APY for CDs -Free student account -Good customer service
Cons	-Higher CD minimum deposit -Fewer ATMs -Rewards on credit cards only	-No free checking option -Low savings APY -Limited branches
Bottom Line	Wells Fargo has amazing customer services and financial products.	SunTrust Bank offers a wide array of services and many account options.

Conclusion

SunTrust Bank and Wells Fargo are both great banks to pick from. However, if you have something specific in mind that you want, it will depend if these banks are for you. If you’re looking for a smaller and personal bank, SunTrust is a great option for you. Meanwhile, Wells Fargo offers higher rates on their Special CD and Platinum Savings accounts.