A Side-by-Side Comparison of Capital One vs Wells Fargo

Capital One vs Wells Fargo Customer Service Experience

Thanks to the hundreds of reviews left by banking customers on the PissedConsumer website, it is easy to compare Capital One with Wells Fargo. There are natural similarities in how the two banks do business, but there are also differences in how customers can access customer service representatives and how the companies handle customer needs.

In order to understand the effectiveness of both banks' customer service, we looked at Wells Fargo and Capital One reviews left on our site. With the breakdown of Capital One vs. Wells Fargo, it is easy to see through the numbers.

Capital One complaints left on the PissedConsumer website created a total ranking of 1.6 stars out of a possible. Only 38% of Capital One customers would recommend the bank to a friend or colleague. In fact, the term “horrible customer service” was at the top of the list of Capital One complaints.

Among the Capital One reviews, one customer noted that he called Capital One multiple times trying to verify an account while maintaining the security of his personal information. The customer reported that:

...each time I called, I received conflicting information that not only caused confusion but also delayed my ability to make informed decisions about my account.

Despite multiple calls and conversations with customer service and many emails about his confusion, the customer has not had the issue resolved. 

If you have a question about Capital One pros and cons or would like to speak to a company representative, you can reach customer service at Capital One headquarters by calling the Capital One phone number at 1-877-383-4802.

Wells Fargo reviews on our site left the company with a rating of 1.6 out of a possible 5 stars. Despite many of the Wells Fargo reviews being negative, 60% of customers would still recommend the bank to a friend or colleague.

If you have questions or concerns, you can call the company using the Wells Fargo phone number at (800) 869-3557.

Accounts and Fees

Both Wells Fargo and Capital One offer a number of checking and savings accounts for consumers. Wells Fargo and Capital One do have different fee structures, however.

Capital One offers two basic options: 360 Checking with 0.10% APY and 360 Performance Savings with 3.60% APY. Both come with no monthly fees or minimums and access to 70,000+ fee-free ATMs. While basic banking services are largely free, there may be fees for extras like check printing, wire transfers, or cashier’s checks.

Source: capitalone.com

While the checking and savings options at Capital One may not have many fees, the bank seems to charge plenty on credit cards. One frustrated reviewer explained that he “never activated or actually cancelled” a new Capital One card, but the card was charged anyhow. When he discovered the charges, it was “two dates late” and the bank charged a late fee and then they “additionally charged another late fee” due to a return. 

Wells Fargo, on the other hand, provides more account types, such as Clear Access, Everyday, Prime, and Premier Checking, along with Way2Save and Platinum Savings accounts. Most come with monthly fees ($5–$12) that can be waived if you meet certain balance or deposit requirements. 

Additionally, Wells Fargo charges fees for using ATMs outside of their branch network, and if you overdraft your checking account. The overdraft fee is $35 with some limitations or exemptions.

Wells Fargo has additional fees for other financial products like mortgages. In review #4362758, a customer complained that Wells Fargo “have to be the biggest crooks in the business” because “They just keep adding fees” and after “you ask they just give you the run around and wont explain the fees.”

When you’re looking at Wells Fargo vs Capital One, Wells Fargo offers more checking and savings options with opportunities to waive some of the regular fees. Capital One has only two basic options for checking and savings, but does not have regular associated fees, making Capital One a more economical choice for a typical online banker. 

Wells Fargo vs Capital One: Credit Card

Both Wells Fargo and Capital One offer credit cards and consumer checking and savings accounts. Capital One offers twenty-four different credit cards with a variety of rewards, like travel or cash-back perks. 

There are Capital One cards offered for a full range of credit scores as well, starting with those for borrowers rebuilding credit and those with excellent credit. The cards also offer a variety of annual fees ranging from $0 to $395 per month. Many cards are also store-specific with perks associated with various retail stores. 

Source: capitalone.com

Wells Fargo also offers credit cards for consumers. There are eleven cards advertised on the Wells Fargo credit card page that include several introductory offers, a range of annual fees, and reward systems. There are cards associated with travel and cashback as well as cards designed to earn points on rent. Wells Fargo is not as transparent about the credit score required to open a new credit card account, which may mean good or excellent credit is required for most or all credit card offers. 

Source: creditcards.wellsfargo.com 

Wells Fargo vs Capital One credit card offerings are all available with online application and approval, as well as online access to the credit card account. In both cases, the financial website offering access is secured to protect consumer information. 

Capital One vs Wells Fargo Rewards Programs

While there are not typically coupons or retail discounts for online banks, there are Capital One promo codes and special offers available for Capital One customers. For example, there is currently a bonus offer for new Capital One customers who open a 360 Checking account. 

There are also special cash-back promotions through Capital One credit cards. Some cards offer an opportunity to earn $200 cash back, for example.

Source: capitalone.com 

Wells Fargo also offers bonus offers on several credit cards when you sign up for a new account. The Wells Fargo credit card offers range from cash rewards to travel points as bonus offers.

Wells Fargo also offers bonuses on checking accounts. Currently, a $325 checking bonus is advertised on the bank’s website. 

Capital One vs Wells Fargo Retail Partners

Capital One is a nationwide bank with many ATMs and services across the country. The company has partnered with several other companies to offer financial services inside those businesses. According to the location finder, you can access Capital One services like getting cash from your bank accounts or credit cards, or making deposits inside CVS and Walgreens stores, as well as Target and their own storefront café locations.

Source: capitalone.com 

Wells Fargo does not appear to have as many commercial partners as Capital One. None of the Wells Fargo credit cards feature commercial connections, and the majority of Wells Fargo banking locations are stand-alone centers owned by the company.

There do appear to be Wells Fargo locations inside Staples stores, but unlike Capital One, you will not find a partnering ATM location inside a nearby drug store or big box store. Wells Fargo does appear to have some locations within neighborhood grocery stores, but they do not advertise any sort of commercial connection to those stores, and are listed as simply “within” the Wells Fargo address in the location services.

Source: wellsfargo.com

Capital One vs Wells Fargo: Which One to Choose?

So, is Capital One better than Wells Fargo? Neither bank scores rave reviews among consumers, and both have some significant drawbacks. That being said, many customers also enjoy the convenience of the online apps and the many ATM and storefront locations the banks provide. Ultimately, choosing the right bank boils down to your priorities and what you expect from your financial institution.

*The company ratings on the PissedConsumer website are calculated using a mathematical algorithm that evaluates the information in the company’s profile. The algorithm parameters are: users’ rating, the number of resolved issues, the number of company responses and more. The PissedConsumer algorithm is also subject to change in the future.