Wells Fargo charges a monthly fee on most checking accounts, but you can waive it
Wells Fargo's standard checking account, called Wells Fargo Everyday Checking, carries a $10 monthly maintenance fee. However, you can eliminate this fee by meeting one of three conditions: keeping a minimum daily balance of $500, setting up a direct deposit of at least $250 per month, or maintaining an active Wells Fargo savings account with a $500 minimum balance. If you do none of these, the $10 charge appears on your statement each month.
Wells Fargo also offers Wells Fargo Clear Access Banking, a no-fee checking account with no minimum balance requirement. This account has no monthly maintenance fee, but it comes with fewer features—no debit card, no checks, and no overdraft protection. Transactions happen through ATM, online transfer, or in-branch only. This account is designed for people who want basic checking without fees and do not need a debit card for everyday purchases.
If you are a student, Wells Fargo offers Wells Fargo Student Checking, which has no monthly fee for the first four years after you open it. After that period ends, it converts to Everyday Checking and the $10 fee applies unless you meet one of the waiver conditions.
Key Takeaways
- Wells Fargo Everyday Checking costs $10 per month unless you maintain a $500 minimum balance, set up direct deposit of $250 or more monthly, or keep an active savings account with $500 in it.
- Clear Access Banking has no monthly fee and no minimum balance, but offers no debit card or overdraft protection.
- Student Checking is free for four years, then converts to Everyday Checking with the standard $10 fee.
- Overdraft fees apply separately—Wells Fargo charges $35 per overdraft transaction if you do not have overdraft protection linked to a savings account or credit line.
How to waive the $10 monthly fee on Everyday Checking
The easiest waiver for most people is direct deposit. If your employer or a government program (Social Security, unemployment, tax refund) deposits at least $250 into your account in a calendar month, the fee is waived for that month. The deposit must be automatic and recurring—a one-time transfer does not count. You can set this up online or at a Wells Fargo branch.
The minimum balance waiver requires you to keep $500 in your checking account at all times. Wells Fargo calculates this as your daily balance, so if your balance drops below $500 on even one day of the month, you do not may have access to for the waiver that month. This option works if you keep money sitting in checking anyway, but it ties up cash that might earn interest elsewhere.
The linked savings account waiver lets you keep the $500 minimum in a separate savings account instead. You must maintain $500 in your Wells Fargo savings account, and your checking account fee is waived automatically. This is useful if you prefer to keep your emergency fund separate from your spending money.
Overdraft and other fees that stack on top
The monthly maintenance fee is not the only charge you might face. Wells Fargo charges $35 per overdraft transaction if your account goes negative and you do not have overdraft protection. This means if you spend $50 when you have $30 in your account, you pay $35 on top of the $20 overdraft. Multiple overdrafts in one day can result in multiple $35 fees.
You can link overdraft protection to a Wells Fargo savings account or credit line to prevent these charges. If you do, Wells Fargo transfers money automatically from your savings or credit line to cover the shortfall, and you pay interest on the credit line transfer instead of an overdraft fee. This is often cheaper than the flat $35 fee, especially for small overages.
Other fees include $3 for each out-of-network ATM withdrawal (unless you use a Wells Fargo ATM), $15 for a returned check, and $25 to $35 for a wire transfer, depending on whether it is domestic or international. These are not automatic—you only pay them if you use those services.
Comparing Wells Fargo checking to other banks
Many online banks and credit unions offer checking accounts with no monthly fee and no minimum balance. Banks like Ally, Charles Schwab, and Discover have zero-fee checking with full debit card access and no balance requirements. Credit unions often waive fees for members, though membership rules vary by institution.
Wells Fargo's advantage is its branch network—over 4,600 branches and 13,000 ATMs nationwide. If you value in-person banking and frequent ATM access, the $10 monthly fee may be worth it. If you bank primarily online and rarely visit a branch, a no-fee online bank or credit union checking account will save you $120 per year.
The Clear Access Banking account is Wells Fargo's answer to no-fee checking, but the lack of a debit card makes it impractical for most people. You would need to visit an ATM or branch for every withdrawal, which defeats the purpose of a checking account for everyday spending.
How to switch your account type or close your account
If you currently have Everyday Checking and want to switch to Clear Access Banking, you can do this online or at a branch. Wells Fargo will not charge you to change account types. However, understand that Clear Access Banking does not include a debit card, so you lose the ability to swipe for purchases. You can request a debit card be added, but it will not work with Clear Access—you would need to switch back to Everyday Checking.
If you want to close your Wells Fargo checking account entirely, you can do this online, by phone, or in person. Wells Fargo does not charge a closing fee. You will need to move any automatic payments or direct deposits to your new bank before you close, and you should allow a few days for pending transactions to clear. Any remaining balance will be mailed to you as a check or transferred to another account you specify.
Student checking and age-based account changes
Wells Fargo Student Checking is free for four years from the date you open it. After four years, the account automatically converts to Everyday Checking, and the $10 monthly fee applies unless you meet a waiver condition. Wells Fargo sends a notice before the conversion happens, so you have time to decide whether to meet a waiver condition or switch to a different account type.
To open Student Checking, you must be between 13 and 24 years old and provide a valid student ID or proof of enrollment. Once you turn 24 or four years have passed since opening, whichever comes first, the free period ends. If you are no longer a student or no longer want the account, you can close it or convert it to another Wells Fargo account type.
Frequently Asked Questions
Can I waive the $10 fee if I have very little income?
Yes. If you cannot maintain a $500 balance or set up direct deposit, you can open a Wells Fargo savings account with $500 in it and link it to your checking account. The savings account earns interest (though the rate is low), and your checking fee is waived. Alternatively, Clear Access Banking has no fee and no minimum balance, though it lacks a debit card.
What happens if I miss a month and do not meet the waiver conditions?
The $10 fee appears on your statement for that month. It is not a penalty—it simply charges once if you do not meet any of the three waiver conditions. The next month, if you meet a condition again, the fee does not charge. There is no cumulative penalty or catch-up fee.
Does Wells Fargo charge to add overdraft protection?
No. Linking a savings account or credit line for overdraft protection is free. You only pay if an overdraft actually occurs and the transfer happens. If you never overdraft, there is no charge for having the protection in place.
Can I get the monthly fee refunded if I just opened the account?
Wells Fargo does not automatically refund the monthly fee, but you can contact customer service and ask. If you opened the account recently and did not understand the fee structure, they may reverse one or two months as a courtesy. There is no may provide, but it is worth asking within the first 30 days.
Is there a fee to transfer money between my Wells Fargo checking and savings accounts?
No. Transfers between your own Wells Fargo accounts are free and instant online. You can move money between checking and savings as many times as you want with no charge.