What Wells Fargo charges for checking accounts

Wells Fargo charges a monthly maintenance fee on most checking accounts, but you can avoid it by meeting one of several conditions. The standard monthly fee is $10, though some account types charge less or nothing at all. The fee disappears if you maintain a minimum daily balance, set up direct deposit, or keep a linked savings account above a certain threshold—the exact requirement depends on which checking account you hold.

Wells Fargo offers multiple checking products, and each has its own fee structure and waiver rules. The most common accounts are Everyday Checking, Preferred Checking, and Platinum Checking. Understanding which account you have and what triggers its fee is the fastest way to stop paying it.

Key Takeaways

  • Wells Fargo's standard checking accounts charge $10 per month, but the fee waives if you meet one condition such as maintaining a minimum balance or setting up direct deposit.
  • Different account types have different fee structures: Everyday Checking, Preferred Checking, and Platinum Checking each have separate requirements and thresholds.
  • You can waive fees by keeping a daily balance of $500 to $1,500 depending on account type, or by receiving at least one direct deposit per month.
  • Overdraft fees, ATM fees outside the Wells Fargo network, and wire transfer fees are separate charges that apply regardless of whether you waive the monthly maintenance fee.
  • Calling Wells Fargo at 1-800-869-3557 or visiting a branch can confirm your current account type and which fee waiver option is easiest for your situation.

Everyday Checking and how to waive its $10 monthly fee

Everyday Checking is Wells Fargo's entry-level account and carries a $10 monthly maintenance fee. You can waive it by meeting any one of these conditions: maintain a minimum daily balance of $500, receive at least one direct deposit per month, or keep a linked Wells Fargo savings account with a $500 minimum daily balance.

Direct deposit is the easiest path for most people because it requires no ongoing balance management. If your employer or a government program (Social Security, unemployment, tax refunds) deposits money into your account, that counts. You do not need a large deposit—even $1 per month satisfies the requirement.

If direct deposit is not an option, the $500 minimum daily balance is straightforward but requires discipline. Wells Fargo calculates this as the lowest balance your account reaches on any single day during the month. A single day below $500 means you pay the fee that month.

Preferred Checking and Platinum Checking fee structures

Preferred Checking charges $15 per month and is designed for customers who want higher balance thresholds and additional perks. You can waive the fee by maintaining a $1,500 minimum daily balance, receiving direct deposit, or keeping a linked savings account with $1,500. Some Preferred Checking accounts also waive the fee if you maintain a linked investment or brokerage account with Wells Fargo.

Platinum Checking has no monthly maintenance fee, making it the only Wells Fargo checking account with no base charge. However, Platinum Checking requires you to maintain a $5,000 minimum daily balance or have a linked Wells Fargo investment account. If your balance falls below $5,000 and you have no investment account, you are automatically downgraded to Everyday Checking and charged the $10 fee.

Other fees that are not waived by balance or direct deposit

The monthly maintenance fee is only one charge. Wells Fargo also charges for specific transactions and services, and these fees apply even if you waive the monthly fee. Overdraft fees are $35 per transaction if you spend more than your available balance. Wells Fargo allows up to four overdraft fees per day, meaning you could pay $140 in a single day if multiple transactions post.

ATM fees apply when you use an ATM outside the Wells Fargo network. The fee is $2.50 per withdrawal at non-Wells Fargo ATMs. If you use a third-party ATM frequently, this adds up quickly. Wells Fargo has over 12,000 ATMs nationwide, so finding a Wells Fargo machine is usually possible in urban and suburban areas.

Wire transfers, cashier's checks, and stop-payment requests each carry separate fees ranging from $15 to $30 depending on the service. Foreign transaction fees apply if you use your debit card outside the United States. These charges are not waived by any balance or deposit requirement.

How to confirm your account type and current fees

The fastest way to know exactly what you are paying is to log into your Wells Fargo online account or mobile app and look at your recent statements. The monthly fee (if charged) appears as a line item, usually labeled "Monthly Service Fee" or "Maintenance Fee." Your statement also shows your account type at the top.

If you are unsure or want to discuss switching accounts, call Wells Fargo customer service at 1-800-869-3557 or visit a local branch. A representative can tell you which waiver option is easiest for your situation and can move you to a different account type if Platinum Checking or Preferred Checking makes more sense. Some customers find that switching to Platinum Checking and maintaining $5,000 costs less than paying $10 per month on Everyday Checking, depending on their balance habits.

What happens if you do not meet the waiver requirement

If your balance falls below the minimum or you do not receive direct deposit in a given month, Wells Fargo charges the monthly fee automatically. The fee posts to your account on the same day each month, usually near the end of the billing cycle. You will see it on your statement and in your online account.

If the fee causes your balance to drop below zero, you may also be charged an overdraft fee on top of the maintenance fee. This can happen quickly if your balance is already tight. Calling Wells Fargo to request a one-time fee reversal sometimes works, especially if you have been a customer for years and this is your first request, but the bank is not required to reverse it.

Frequently Asked Questions

Can I get the monthly fee waived if I just opened my account?

No, the fee waiver requirements apply immediately. If you open an Everyday Checking account on the 15th of the month, you must meet one waiver condition by the end of that month or pay the $10 fee. Setting up direct deposit on the day you open the account is the fastest way to avoid the first month's charge.

Does a transfer from another bank count as direct deposit?

No. Direct deposit means money deposited by an employer, government agency, or other institution directly into your Wells Fargo account. Transfers you initiate from another bank do not count. Only deposits initiated by the sending institution may have access to.

What if I close my Wells Fargo account—do I owe the monthly fee?

If you close your account before the fee posts, you will not be charged. If the fee has already posted, it remains owed. Some customers close their accounts a day or two before the fee date to avoid the charge, though Wells Fargo may still charge it depending on when the account officially closes.

Can I have multiple checking accounts to avoid fees?

Yes, you can open more than one checking account at Wells Fargo. However, each account has its own monthly fee unless you meet the waiver requirement for that specific account. Linking accounts does not combine balances for fee purposes—Wells Fargo calculates the minimum balance separately for each account.

Does Wells Fargo charge fees on savings accounts too?

Wells Fargo savings accounts also carry monthly fees, typically $5 to $10 depending on the account type. You can waive savings fees by maintaining a minimum balance or by linking to a checking account that has no monthly fee. The requirements vary by savings product.