Wells Fargo personal checking accounts come with a $10 monthly fee unless one of a few conditions are met. Previously the minimum daily balance requirement to get the fee waived was $1,500, but beginning October 8th that’s being lowered to $500.
They are also removing the option to have the fee waived with 10 monthly debit transactions, beginning October 8th.
The other 3 options remain the same: $500 in monthly direct deposits, customers age 17 – 24, and having a linked Wells Fargo Campus ATM or Campus Debit Card.
A lot of people bank with Wells or have an account open to enable them to apply for certain Wells cards which require a checking account open for a year before applying. Some will enjoy the new, easier $500 deposit requirement, especially given the low interest rates going around these days. But others might miss the debit card option.
You can view these changes here. Image:
Hat tip to SaveMoreWorkLess