Upon initial inspection one may think that Wells Fargo Bank’s money market account is a great alternative to consider in today’s economic times. One only needs to have $100 to open an account, which is well below the industry average. There are also many great features such as mobile banking and automatic transfers to add a sense of convenience. Unfortunately, the interest rate is not very good at all at only 0.05%.

But wait! If one links their money market account with another Wells Fargo Bank account they can earn a huge interest hike of 0.10%! Sarcasm aside, the rate(s) offered by Wells Fargo Bank’s money market account is about 20 times lower than the national average of 1.00%. One would be better off looking elsewhere for a money market account than the one offered by Wells Fargo Bank at this point in time.