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Checking and Savings Monthly Service Fee Questions

Your Wells Fargo checking and savings statements provide you with information regarding your monthly service fee (excludes Prime Checking, Premier Checking, retirement, IOLTA, RETA, and analyzed business accounts). Below are some answers to common questions about the monthly service fee summary.

Do you have a question about a fee charged on your account?
For consumer accounts: Call us at 1-800-869-3557, 24 hours a day, 7 days a week, or visit a Wells Fargo branch.
For business accounts: Call us at 1-800-225-5935, or visit a Wells Fargo branch.

Monthly service fee summary

About fee periods

What is a fee period?

How we track and report your account activity, including what’s provided in your periodic statements, doesn’t always match a calendar month. Instead, we use a fee period to determine the monthly service fee and other monthly fees. A fee period can have 25 to 35 days.

We calculate and post your monthly service fee, if any, on the last business day of your fee period (excluding Prime Checking and Premier Checking accounts).

How will my monthly service fee be calculated if my fee period ends on a weekend or holiday?

Weekends and federal holidays are non-business days. If your fee period ends on the last calendar day of the month, only transactions posted through the last business day of the month will count towards the fee period.

I see “You Paid” in the monthly service fee summary of my statement. Does that mean I need to pay a fee?

If you see a dollar amount in the “You Paid” column, it is the monthly service fee amount your account was already charged for the fee period. The monthly service fee will be reflected in the Transaction History section of your account statement. You do not need to take any action.

What does the check mark mean on my monthly service fee summary?

We provide the list of options that can help you avoid the monthly service fee on your account. The check mark appears next to each of the ways to avoid the monthly service fee you met during the fee period.

How to avoid the monthly service fee

How is the Primary Account owner identified for my account?

When there is more than one owner of an account, we identify a primary owner. The primary account owner is the owner whose Taxpayer Identification Number, such as a Social Security Number, is assigned to the account and who, therefore, has tax responsibility for the account. For select checking and savings accounts, when an individual primary account owner reaches the age of 25, age can no longer be used to avoid the monthly service fee.

What is considered a qualifying direct deposit and how is the total amount calculated?

A qualifying direct deposit is an ACH (Automated Clearing House) automatic electronic deposit of yoursalary, pension, Social Security, or other regular income into your bank account. Confirm with your employer or the agency or company making these payments that they use the ACH network. Transfers from oneaccount to another, mobile deposits, or deposits made at a banking location or ATM don’t qualify as a direct deposit. Click here to learn about setting up direct deposit

How is my combined balance determined?

Your monthly service fee summary lists what accounts are eligible to be linked, such as checking accounts, or credit cards. The monthly service fee summary also lists the type of account balance such as minimum daily balance, average ledger balance, or most recent statement balance, that can contribute to the combined balance. The combined balance is determined one business day prior to the last business day of your fee period.

What accounts can be linked for the combined balance option to avoid the monthly service fee?

Eligible accounts that can be linked are determined by the type of checking account you have. Your monthly service fee summary lists the account types that are eligible to be linked to the checking account to create the combined balance. Accounts linked to a Wells Fargo Checking account cannot simultaneously be linked to any other Wells Fargo Checking account to meet the combined balance option to avoid the fee. For consumer accounts, only qualified accounts with the same account owner as the checking account will be linked automatically.

Do Prime Checking and Premier Checking statements have a monthly service fee summary?

The Prime Checking and Premier Checking statements do not have a monthly service fee summary at this time. The Wells Fargo Bank Prime Checking account has a $25 monthly service fee. The fee can be avoided each fee period with $20,000 or more in statement-ending qualifying balances.  The Wells Fargo Bank Premier Checking account has a $35 monthly service fee. The fee can be avoided each fee period with $250,000 or more in statement-ending qualifying balances. The statement-ending qualifying balance includes linked (a) bank deposit account balances (checking, savings, time accounts (CDs), FDIC-insured IRAs) and (b) investment account balances (brokerage available through our brokerage affiliate Wells Fargo Advisors, applicable bank fiduciary and custody accounts, annuities, and eligible foreign exchange transactions).  The Wells Fargo Premier Banking TeamSM is available to assist you 24 hours a day, 7 days a week at 1-800-869-3557. If you think your combined balance may fall below the statement-ending qualifying balance needed to avoid the monthly service fee, please call us to discuss other account options that may meet your needs.

My fees are different than expected

I noticed a change in my monthly service fee. How can I avoid the fee?

Your checking and savings accounts are subject to a monthly service fee even if a fee was not assessed in the past. You can avoid this fee by meeting the requirements found in the monthly service fee summary included on your statement. Or, you can convert to a different type of account that allows for other ways to avoid the monthly service fee.

I would like to switch to a different type of account that would allow me other ways to avoid the monthly service fee. What are my next steps?

For consumer checking accounts, please review our Consumer Checking Comparison Chart to see some of your options. Then call us at 1-800-869-3557, 24 hours a day, 7 days a week, to ask us to convert your account. You can also make an appointment with a banker and request a personal financial review. Visit wellsfargo.com/locator to locate a branch near you and schedule an appointment.

For Business accounts, please review the Business Checking Comparison Chart. Then call us at 1-800-225-5935, to ask us to convert your account. You can also make an appointment with a banker and request a financial review. Visit wellsfargo.com/locator to locate a branch near you and schedule an appointment.

I recently switched to a new account. Why does the monthly service fee summary show the monthly service fee for my old account?

The monthly service fee summary provided is based on the fee period of your previous account. The monthly service fee summary for your new account will appear on your next statement.

Why is the fee information in the monthly service fee summary different from the information I recently received as a message in my statement?

The fee information included in the monthly service fee summary on your statement is accurate as of the date of the fee period provided.

From time to time, information on your account may change. Wells Fargo will communicate these changes on your account with a statement message, statement insert or letter in advance of the change to your account. Please refer to the effective date provided in the communication for when these changes will take place.

What fees other than monthly service fees are calculated monthly for my consumer account?

If applicable, the check image option fee is calculated and posted to your account on the last business day of the monthly fee period. Please refer to the Deposit Account Agreement and Consumer Fee and Information Schedule for more information.

What fees other than monthly service fees are calculated monthly for my business account?

Other fees that are calculated and posted to your business account on the last business day of the fee period include check image option, transactions, deposited items, cash deposit processing, coin order, currency order and money services business fees. If applicable on your account, these monthly fees are in addition to your monthly service fee.