Wells Fargo Bank IRA Rates
Wells Fargo Bank offers IRA options, including Roth and Traditional varieties. Contributions can be invested in
FDIC-insured deposits. There is no fee to open an Individual Retirement Account with the bank, and there is no annual fee, either. Since it’s a bank IRA, there is no level of activity required. There is also no fee to close or transfer a Wells Fargo IRA, and there is no low-balance fee.
IRA contributions can be invested 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 a variety of CDs available. Standard Retirement CDs have a
$1,000 minimum, while Retirement Special CDs have a
$2,500 minimum. Interest rates vary
based on zip code, term, balance, and relationship status. You can see them
under this link »
Wells Fargo Brokerage IRA Fees
The above rates aren’t very high. Thankfully, Wells Fargo also offers investment IRAs through its
securities arm called WellsTrade. Individual Retirement Accounts with the broker cost nothing to
set up. There is no annual fee.
WellsTrade does not require any level of activity 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 a different firm.
Retirement savers who would rather turn over investment decisions to financial professionals have access to Wells Fargo Advisors. This firm can provide brokerage and investment-advisory services. Commissions are charged on a per-transaction basis for brokerage accounts, while advisory account fees are based on account assets. Wells Fargo also has other managed options, 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 transactions in a WellsTrade IRA cost
$0 when placed online or through the automated phone system. Placing a stock or ETF trade over the phone with an agent costs
$25.
The broker has a good selection of mutual funds. 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 rather expensive, judged by industry standards. 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 in the industry.
About Wells Fargo Brokerage
Wells Fargo, after merging with Wachovia, became one of the largest brokerage houses in the U.S. Along with being a brokerage firm, it also provides full-service
banking and lending for its customers. The banking portion of the company is located in San Francisco, California, while the brokerage arm is located in St. Louis, Missouri.
Wells Fargo has several IRA options, offering products that range 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 could help people close to retirement keep part of their savings in bank deposits.
WellsTrade: A typical online brokerage service within the tax protection of an IRA. This
IRA gives clients access to a broad range of assets, such as 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 enable account holders to investigate security options and provide news and market updates. Markets and individual stocks can be tracked with real-time quotes, and there are ways to add alerts for when a stock or ETF reaches a set value or price change.
Additionally, Wells Fargo 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 be used to follow the latest news and trends that affect their portfolio.
In-Person Advice
Aside from the advice available online, a Wells Fargo customer always has the option of talking to 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 needed.
WellsTrade Pros
- Research tools
- Asset allocation comparison
- Professional commentary and advice
- Access to Wells Fargo Advisors across the country
- Ease of use
- Account summary pages are well organized with large font and color-coded graphs
- Relatively few clicks to get to 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 6/4/2026.
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