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Everyday Checking Monthly Service Fee Video

Transcript: Wells Fargo Presents: Get to know Everyday Checking

Get to know Everyday Checking. We designed it to meet your day-to-day financial needs, with secure options to make purchases, send money and pay bills. Plus, you can open an account with a $25 minimum deposit.

And because we want you to get the most out of your account, we're making sure you understand how the $10 monthly service fee works—and how you can avoid it.

First things first: Get to know your fee period. It's the time period we use to calculate the monthly service fee. The fee period dates are shown in the Monthly Service Fee Summary on your account statement.

Why do you need to know your fee period?

Because within each fee period, you'll need to meet the minimum requirements to avoid the $10 monthly service fee.

Here are the four ways to avoid it.

If you maintain a $500 minimum daily balance, you'll avoid the monthly service fee.

Next, when you receive qualifying direct deposits totaling $500 or more each fee period, you'll also avoid the monthly service fee. This means your salary, pension, Social Security, or other regular monthly income is electronically deposited through the Automated Clearing House network to this checking account by your employer or an outside agency. Please check with your employer or outside agency to determine if they use the Automated Clearing House (ACH) network. Transfers from one account to another, mobile deposits and deposits made at a banking location or ATM do not qualify as a direct deposit.

Here's another way to avoid the monthly service fee. If you attend a participating school, link your Wells Fargo Campus ATM or Campus Debit Card to your Everyday Checking account. Your checking account will receive a monthly service fee waiver within 45 days of linking your Campus Card to that account.

Lastly, if you are 17 through 24 years of age and the primary account owner, the monthly service fee is already waived until you turn 25, and then the account will be subject to the then current monthly service fee unless you meet one of the other options to avoid the monthly service fee.

Be sure to check your Monthly Service Fee Summary, which lists the minimum requirements to avoid the $10 monthly service fee, and shows if your activity within that fee period met one of the requirements, such as if you maintained a $500 minimum daily balance or received qualifying direct deposits totaling $500.

For a complete listing of fees and more detailed account information, please see the Wells Fargo Consumer Account Fee and Information Schedule, and the Deposit Account Agreement.

© 2020 Wells Fargo Bank, N.A. All rights reserved. Member FDIC.