Wells Fargo checking account fees vary by account type

Wells Fargo does not charge a monthly maintenance fee on most of its checking accounts, but the bank does charge fees for specific actions: overdrafts, returned deposits, wire transfers, and stopping payment on a check. The amount you pay depends on which checking account you open and how you use it.

Wells Fargo offers four main checking products: Wells Fargo Checking, Wells Fargo Preferred Checking, Wells Fargo Prime Checking, and Wells Fargo Active Military Checking. Each has different fee structures and minimum balance requirements. The account you choose determines what you will and will not pay for.

Key Takeaways

  • Wells Fargo does not charge a monthly fee on any of its standard checking accounts, but overdraft fees, returned-item fees, and wire transfer fees apply to all accounts.
  • An overdraft fee is charged each time your account goes negative, and Wells Fargo allows multiple overdraft fees per day depending on the account type.
  • Wells Fargo Preferred Checking and Prime Checking waive some fees if you maintain a minimum daily balance or set up direct deposit.
  • Overdraft protection linked to a savings account or credit card can prevent overdraft fees, though the linked account may charge its own fees.
  • Wells Fargo Active Military Checking has no monthly fee and reduced overdraft charges compared to other accounts.

Overdraft fees and returned-item charges

An overdraft fee is charged when you spend more money than you have in your account. Wells Fargo charges $35 per overdraft on Wells Fargo Checking and Preferred Checking. On Prime Checking, the overdraft fee is also $35. Wells Fargo allows up to four overdraft fees per day on these accounts, meaning you could be charged $140 in a single day if multiple transactions overdraw your account.

A returned-item fee is charged when a check or electronic payment bounces because there is not enough money in your account. Wells Fargo charges $35 for each returned item. This is separate from the overdraft fee — if a check bounces, you pay the returned-item fee, not the overdraft fee.

Wells Fargo Active Military Checking charges $25 per overdraft instead of $35, and the bank limits overdraft fees to two per day on that account. This account is open only to active-duty military members and their spouses.

Wire transfer and payment-related fees

A wire transfer is a way to send money electronically to another bank account, usually outside Wells Fargo. Domestic wire transfers (within the United States) cost $15 to send and $15 to receive. International wire transfers cost $45 to send and $15 to receive. These fees apply to all Wells Fargo checking accounts.

If you ask Wells Fargo to stop payment on a check you have written, the bank charges $35 for that service. This fee applies regardless of which checking account you have.

Wells Fargo does not charge a fee to transfer money between your own Wells Fargo accounts, and there is no fee for setting up automatic bill pay through the Wells Fargo website or mobile app.

How to avoid or reduce checking account fees

The easiest way to avoid overdraft fees is to link your checking account to a savings account or credit card through Wells Fargo's overdraft protection service. If you overdraw your checking account, the bank will automatically transfer money from the linked account to cover the shortfall. Savings account transfers are free, though your savings account must have enough money available. Credit card transfers may charge a cash advance fee depending on your card.

Wells Fargo Preferred Checking and Prime Checking waive overdraft fees if you maintain a minimum daily balance. Preferred Checking waives overdraft fees if your account balance stays at $500 or higher every day of the statement period. Prime Checking waives overdraft fees if your balance stays at $2,500 or higher. Both accounts also waive the returned-item fee under the same conditions.

Setting up direct deposit into your Wells Fargo checking account does not waive fees on its own, but it can help you maintain a higher balance and avoid overdrafts altogether. Wells Fargo also offers a courtesy overdraft service that allows one overdraft per statement period without charging a fee, though this is not may provide and the bank can remove it at any time.

Comparing Wells Fargo checking to other banks

Many online banks and credit unions charge no overdraft fees and no monthly maintenance fees. Banks like Ally, Charles Schwab, and Discover have checking accounts with no monthly fee and no overdraft fees. Credit unions often offer checking accounts with lower or no overdraft fees, especially if you are a member.

Traditional banks like Bank of America and Chase also charge overdraft fees similar to Wells Fargo's ($35 per overdraft), but some offer overdraft protection or fee waivers for customers who maintain higher balances or set up direct deposit. The difference between banks often comes down to how many overdraft fees they allow per day and whether they offer overdraft protection.

If you rarely overdraw your account and do not send wire transfers, Wells Fargo's lack of a monthly maintenance fee makes it competitive with other large banks. If you overdraft frequently or send wire transfers regularly, the fees can add up quickly, and you may save money by switching to a bank with lower overdraft fees or overdraft protection that does not charge a transfer fee.

What happens if you do not pay an overdraft fee

If you do not pay an overdraft fee, Wells Fargo will deduct it from your account balance. If your account does not have enough money to cover the fee, your account will go further negative, and you may be charged another overdraft fee. This cycle can result in multiple fees stacking up in a short time.

Wells Fargo may also close your account if it remains negative for an extended period or if you accumulate too many overdraft fees. The bank reports unpaid overdraft fees to ChexSystems, a banking history database that other banks use to decide whether to open accounts for you. A negative ChexSystems report can make it difficult to open a checking account at other banks for several years.

Frequently Asked Questions

Does Wells Fargo charge a monthly fee for checking?

No. Wells Fargo does not charge a monthly maintenance fee on any of its standard checking accounts: Wells Fargo Checking, Preferred Checking, Prime Checking, or Active Military Checking. You only pay fees when you overdraft, return an item, send a wire transfer, or request a stop payment.

Can I get an overdraft fee waived?

Wells Fargo may waive one overdraft fee per statement period as a courtesy, but this is not may provide and the bank can remove this benefit at any time. Your best option is to maintain the minimum balance required for your account type or link overdraft protection to avoid overdrafts altogether.

What is the difference between an overdraft fee and a returned-item fee?

An overdraft fee is charged when your account goes negative and the bank covers the transaction. A returned-item fee is charged when a check or payment bounces because there is not enough money. Both cost $35 on most Wells Fargo checking accounts, but they are separate charges.

Does Wells Fargo charge for transfers between my own accounts?

No. Transferring money between your own Wells Fargo checking and savings accounts is free. Overdraft protection transfers from a linked savings account are also free, though transfers from a linked credit card may charge a cash advance fee.

What banks charge less for overdrafts than Wells Fargo?

Many online banks like Ally, Charles Schwab, and Discover charge no overdraft fees at all. Some credit unions also charge lower overdraft fees or waive them for members. If overdraft fees are a concern, comparing banks before opening an account can save you money over time.