Wells Fargo Bank IRA Rates
Wells Fargo Bank offers IRA choices, including Roth and Traditional accounts. Contributions can be placed in
FDIC-insured deposits. There is no charge to open an Individual Retirement Account with the bank, and there is no annual fee. Because this is a bank IRA, no trading activity is required. There is also no fee to close or transfer a Wells Fargo IRA, and there is no low-balance charge.
IRA contributions can be placed in either a savings account or a CD. The bank’s Retirement High Yield Savings account requires a
$100 deposit and
currently pays just
0.05%. Wells Fargo also has a Way2Save Retirement Account with a
$100 minimum opening deposit that currently pays
0.01%. There are several CD choices available. Standard Retirement CDs have a
$1,000 minimum, while Retirement Special CDs have a
$2,500 minimum. Interest rates vary
by zip code, term, balance, and relationship status. You can see them
under this link »
Wells Fargo Brokerage IRA Fees
The rates above are not very high. Fortunately, Wells Fargo also offers investment IRAs through its
securities business, WellsTrade. Individual Retirement Accounts with the broker cost nothing to
open. There is no annual fee.
WellsTrade does not require any activity level in an IRA. The broker does charge
$49.95 to close a retirement account. There is also a
$49.95 transfer fee for moving an IRA to another firm.
Retirement savers who prefer to hand investment decisions to financial professionals can use Wells Fargo Advisors. This firm offers brokerage and investment-advisory services. Brokerage accounts charge commissions on a per-transaction basis, while advisory account fees are based on account assets. Wells Fargo also has other managed choices, including Intuitive Investor, which has a
0.35% annual advisory fee, and Solutions Advisors, which has a
0.60% annual advisory fee. An initial consultation with a financial advisor is free.
Wells Fargo IRA Commissions at WellsTrade
Stock and ETF trades in a WellsTrade IRA cost
$0 when placed online or through the automated phone system. Placing a stock or ETF trade by phone with an agent costs
$25.
The broker has a good mutual fund lineup. The WellsTrade screener returns 9,845 products that are open to new investors. Of these, 2,558 come with no load and no transaction fee. The broker’s charge for no-load transaction-fee funds is
$35.
Wells Fargo Comparison
Wells Fargo IRA Fees Comparison
Charging
$49.95 to close an IRA is fairly expensive compared with many other brokers. Vanguard now may charge a
$100 processing fee for an account closure or full transfer of assets to another firm, while
Charles Schwab charges nothing to close a retirement
account.
WellsTrade’s
$49.95 ACAT transfer fee is about average for the industry.
About Wells Fargo Brokerage
Wells Fargo, after merging with Wachovia, became one of the largest brokerage firms in the U.S. In addition to brokerage services, it also offers full-service
banking and lending to customers. The banking side of the company is based in San Francisco, California, while the brokerage arm is based in St. Louis, Missouri.
Wells Fargo has several IRA choices, with products ranging from bank-based retirement deposits to full-service investment management:
Destination IRA: An IRA that can hold FDIC-insured savings accounts or CDs. It has a low return compared with many investment products, but it may help people near retirement keep part of their savings in bank deposits.
WellsTrade: A standard online brokerage service inside the tax protection of an IRA. This
IRA gives clients access to a broad range of assets, including mutual funds, stocks, ETFs, options, and more.
Intuitive Investor: An automated investing program with professionally managed portfolios and a
$500 minimum.
Wells Fargo Advisors: A full-service investment option that gives users access to human advisors.
Wells Fargo IRA Review
Read detailed
Wells Fargo IRA review »
WellsTrade Research
Wells Fargo research tools help account holders review securities and follow news and market updates. Markets and individual stocks can be monitored with real-time quotes, and users can create alerts when a stock or ETF reaches a selected value or price change.
Wells Fargo also provides commentary and strategy reports through its research portal. WellsTrade users can access Wells Fargo Investment Institute content and third-party research from providers such as Morningstar. Commentary and strategy reports can help investors follow news and trends that may affect their portfolios.
In-Person Advice
In addition to the guidance available online, a Wells Fargo customer can also speak with an advisor in person. Wells Fargo Advisors has locations in all 50 states and the District of Columbia, giving many customers access to advice when they need it.
WellsTrade Pros
- Research tools
- Asset allocation comparison
- Professional commentary and advice
- Access to Wells Fargo Advisors across the country
- Easy-to-use website
- Account summary pages are well organized with large font and color-coded graphs
- Relatively few clicks are needed to reach account information and research tools
- Adequate search feature for finding individual securities
WellsTrade Cons
- Some account fees, including IRA termination and outgoing account transfer fees
- Some trades and services still have fees, including options contracts, transaction-fee mutual funds, and agent-assisted trades
- Account fees for active management
- Limited availability of online trading
- Must have a certain account type (WellsTrade) to be eligible for online trading
Updated on 8/20/2026.
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