Checking and Savings Monthly Service Fee Questions

How we track and report your account activity, including what’s provided in your account 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. Analyzed accounts fee period terms are different, please refer to the Business Account Fee and Information Schedule (PDF).

The fee period details are provided on the monthly service fee summary located on your account statement.

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.

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.

A qualifying electronic deposit is a deposit of funds, such as your salary, government benefit payment, or other income, that has posted to your account and is (1) a direct deposit made through the Automated Clearing House (ACH) network, (2) an instant payment processed through the RTP^® network (real-time payment system) or FedNow^SM Service, or (3) an electronic credit from a third party service that facilitates payments to your debit card using the Visa^® or Mastercard^® network (e.g. an Original Credit Transaction). Transfers from one account to another, mobile deposits, Zelle^®, or deposits made at a branch or ATM are not considered a qualifying electronic deposit. Click here to learn about setting up direct deposit

The Prime Checking and Premier Checking statements do not have a monthly service fee summary at this time. The 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 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) consumer bank deposit account balances (checking, savings, time accounts (CDs), FDIC-insured IRAs) and (b) investment account balances (investments available through our affiliate Wells Fargo Advisors^, and applicable bank fiduciary and custody accounts). If you think your combined balance may fall below the statement-ending qualifying balance needed to avoid the monthly service fee, please call us at 1-800-869-3557 to discuss other account options that may meet your needs.

On the last business day of each fee period, balances in eligible accounts will be totaled. If these balances total $5,000 or more, you will avoid the monthly service 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.

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.

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.

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.