Wells Fargo is one of the four largest banks in the United States by total assets

Wells Fargo ranks as the fourth-largest bank in the country, behind JPMorgan Chase, Bank of America, and Citigroup. Size here means total assets — the money and investments the bank holds. As of recent reports, Wells Fargo holds roughly $1.9 trillion in assets, though this number changes as the bank's business grows or shrinks.

Being one of the "Big Four" means Wells Fargo operates thousands of branches across the country and serves millions of customers. It offers the full range of banking products: checking and savings accounts, credit cards, mortgages, auto loans, and investment services. Most people encounter Wells Fargo because of its branch network rather than because it is the largest — many regional banks are easier to access in specific areas.

Key Takeaways

  • Wells Fargo is the fourth-largest U.S. bank by total assets, behind JPMorgan Chase, Bank of America, and Citigroup.
  • The bank operates roughly 4,500 branches nationwide, making it one of the most widely available banks for in-person banking.
  • Wells Fargo's ranking has shifted over time due to business changes and regulatory actions, including a major scandal that affected its reputation.
  • For basic banking services like checking accounts and savings, Wells Fargo competes with both larger and smaller banks on fees, interest rates, and branch access.
  • Your choice of bank should depend on what you need — branch access, online tools, fees, or specific products — rather than size alone.

How Wells Fargo's size compares to other major banks

The "Big Four" banks control a large share of U.S. banking. JPMorgan Chase leads with roughly $3.7 trillion in assets, followed by Bank of America at roughly $3.0 trillion, Citigroup at roughly $2.3 trillion, and Wells Fargo at roughly $1.9 trillion. These four banks have the most branches, the most customers, and the broadest range of services.

Below the Big Four are regional banks like U.S. Bancorp, Truist, and PNC Financial Services, which have fewer branches but often serve specific regions well. There are also thousands of smaller community banks and credit unions. Size does not mean better service — a smaller bank may offer lower fees or more personalized attention, while a large bank offers more locations and more online tools.

Wells Fargo's branch network and accessibility

Wells Fargo operates roughly 4,500 branches in all 50 states, making it one of the easiest banks to access in person. If you need to deposit cash, speak to someone face-to-face, or handle a problem that requires a branch visit, Wells Fargo's size means you likely have a location near you.

However, the number of branches has declined over the past decade as more customers bank online. Wells Fargo, like other large banks, has closed branches in some areas while opening or keeping them in others. If branch access matters to you, check whether a Wells Fargo branch exists in your neighborhood before opening an account.

What changed Wells Fargo's standing in recent years

Wells Fargo's ranking and reputation were affected by a major scandal that became public in 2016. The bank's employees had opened millions of unauthorized accounts in customers' names without permission. This led to lawsuits, fines, and damage to the bank's reputation. The scandal did not change Wells Fargo's size ranking, but it did change how many people view the bank.

Since then, Wells Fargo has paid billions in settlements and made changes to how it operates. The bank remains one of the four largest, but some customers switched to other banks because of the scandal. If you are deciding whether to bank with Wells Fargo, you may want to read about what happened and decide whether you are comfortable with how the bank has responded.

Comparing Wells Fargo's products and fees to competitors

Wells Fargo offers standard banking products at rates and fees that fall in the middle range compared to other large banks. Its checking accounts typically charge a monthly fee unless you meet balance or deposit requirements. Its savings accounts pay interest, but the rate is usually lower than what online-only banks offer. Credit cards, mortgages, and auto loans are available, with rates that vary based on your credit and the current market.

For basic checking and savings, you may find lower fees at online banks like Ally or Charles Schwab, or better interest rates at online savings banks. For mortgages and auto loans, rates depend on your credit score and the lender, so comparing across multiple banks — including Wells Fargo — makes sense. Wells Fargo's advantage is branch access; its disadvantage is that fees tend to be higher than online-only competitors.

Whether size matters when choosing a bank

A bank's size affects what you experience as a customer, but not always in the way you might expect. Large banks like Wells Fargo have more branches, more online tools, and more customer service options. They also tend to have higher fees and lower interest rates on savings accounts. Small banks and credit unions often have lower fees and more personalized service, but fewer locations and fewer online features.

The best bank for you depends on what you actually use: if you need to deposit cash regularly, a large bank with many branches may be worth higher fees. If you rarely visit a branch and want the highest savings rate, an online bank may serve you better. Wells Fargo's rank as the fourth-largest bank tells you it is stable and widely available, but it does not tell you whether it is the right choice for your situation.

How Wells Fargo's ranking might shift in the future

Bank rankings can change over time due to mergers, growth, or decline. Wells Fargo's position as the fourth-largest has been stable for years, but the banking industry is always changing. New regulations, customer preferences for online banking, and competition from non-bank financial companies all affect how large banks operate and grow.

For your purposes as a customer, the important thing is not whether Wells Fargo stays fourth or moves to third — it is whether the bank meets your needs today. Rankings matter more to investors and regulators than to people opening a checking account. Focus on fees, interest rates, branch access, and online tools rather than on whether the bank is ranked third or fourth.

Frequently Asked Questions

Is Wells Fargo the biggest bank in the United States?

No. JPMorgan Chase is the largest by assets, followed by Bank of America and Citigroup. Wells Fargo is the fourth-largest. All four are considered "Big Four" banks because they are much larger than the next tier of banks.

Did Wells Fargo's ranking change because of the scandal?

The scandal did not change Wells Fargo's size ranking — it remained the fourth-largest bank. However, it did affect customer trust and caused some people to move their accounts elsewhere. The bank's total assets have remained relatively stable since the scandal became public.

Should I bank with Wells Fargo because it is one of the largest?

Size alone is not a reason to choose or avoid a bank. Wells Fargo's size means it has many branches and online tools, but it also means higher fees than some competitors. Compare fees, interest rates, and available services across banks before deciding.

Does Wells Fargo have more branches than other large banks?

Wells Fargo has roughly 4,500 branches, which is comparable to Bank of America and more than Citigroup. JPMorgan Chase has fewer branches but more ATMs. The number of branches matters only if you use them regularly.

What is the difference between a large bank and a small bank?

Large banks have more branches, more online features, and more products, but usually charge higher fees and pay lower interest on savings. Small banks and credit unions often have lower fees and better rates, but fewer locations and fewer online tools. Choose based on what you use, not on size.