What Wells Fargo charges for checking accounts

Wells Fargo charges a monthly fee on most of its checking accounts, but you can avoid it by meeting one straightforward requirement: keeping a minimum balance or setting up direct deposit. The fee itself is $10 per month on their standard checking account, called Wells Fargo Checking. If you do not meet the balance or direct deposit requirement, that $10 comes out of your account every month.

Wells Fargo also offers a second checking account called Wells Fargo Prime Checking, which has a $15 monthly fee. This account comes with extra features like higher interest on your balance and better overdraft protection, but most people do not need it. The way to avoid both fees is the same: either keep $500 in the account at all times, or have your paycheck or government benefits deposited directly into the account each month.

Beyond the monthly fee, Wells Fargo charges for specific actions you take with your account. An overdraft fee (when you spend more than you have) costs $35. If you use an ATM that is not owned by Wells Fargo, you pay $2.50 per transaction. Asking the bank to print extra checks costs $10 per box. These fees only happen if you use these services — they are not automatic.

Key Takeaways

  • Wells Fargo Checking costs $10 per month unless you keep $500 in the account or set up direct deposit of your paycheck or benefits.
  • Wells Fargo Prime Checking costs $15 per month and has the same fee waiver options, but includes higher interest rates and is designed for people with larger balances.
  • Overdraft fees are $35 each time you spend more money than you have in your account.
  • Using ATMs outside the Wells Fargo network costs $2.50 per withdrawal, so using Wells Fargo ATMs keeps this cost at zero.

How to waive the monthly checking fee

The easiest way to avoid the $10 monthly fee is to set up direct deposit. This means your employer or a government agency (like Social Security) sends your paycheck or benefits straight into your Wells Fargo account. You do not have to keep any money in the account — even a $1 direct deposit counts. Once direct deposit is set up, the monthly fee disappears.

If you do not receive a paycheck or benefits, you can avoid the fee by keeping a minimum balance of $500 in your checking account at all times. This means the lowest your balance can drop is $500 — if it falls below that on any day of the month, you will be charged the $10 fee. For people who are paid in cash or who receive money irregularly, this option is harder to maintain.

You can also combine both methods. If you have direct deposit but it does not happen every month, keeping $500 as a cushion protects you during the months when the deposit is late or missing. Many people find this combination the safest approach.

Overdraft fees and how they work

An overdraft happens when you spend more money than you have in your account. If you try to make a purchase or withdrawal and your balance is too low, Wells Fargo will either decline the transaction or allow it to go through and charge you $35. Whether they allow it or decline it depends on the type of transaction and whether you have overdraft protection turned on.

The $35 fee can happen multiple times in a single day if you make several purchases that overdraft your account. If you spend $50 more than you have and make five separate purchases, you could be charged $35 five times — $175 total. This is why overdraft fees add up quickly for people living paycheck to paycheck.

You can turn off overdraft protection in your Wells Fargo online account or by calling the bank. When overdraft protection is off, transactions that would overdraft you are straightforward declined — you will not be able to make the purchase, but you also will not be charged a fee. This is often the safer choice if you are worried about accidentally spending too much.

ATM fees and out-of-network charges

Using a Wells Fargo ATM to withdraw cash costs nothing. But if you use an ATM owned by a different bank, Wells Fargo charges you $2.50 per transaction. Some ATM networks, like Allpoint or MoneyPass, have thousands of ATMs across the country and do not charge Wells Fargo customers, so using those machines is free. You can find a Wells Fargo ATM or a free partner ATM using the Wells Fargo mobile app or website.

The $2.50 fee adds up if you regularly use out-of-network ATMs. Using one out-of-network ATM twice a week costs $20 per month — more than the monthly checking account fee itself. If you live or work far from a Wells Fargo branch, it is worth checking whether a free ATM network is nearby before opening an account.

Other fees you might encounter

Wells Fargo charges $10 for each box of checks you order. If you write checks regularly, this is a real cost to budget for. One box usually contains 50 checks, so the cost per check is about 20 cents. You can reduce this cost by ordering checks in bulk — larger orders have a lower per-box price — or by using online bill pay instead of paper checks.

If you need to stop payment on a check you have already written, Wells Fargo charges $30. This fee applies only if you call the bank and ask them to prevent a specific check from being cashed. If you close your account and reopen it within a certain time frame, you may be charged a fee for the closure, though Wells Fargo does not charge a fee straightforward for closing an account.

Foreign transaction fees explore if you use your debit card outside the United States. Wells Fargo charges 1% of the transaction amount, which means a $100 purchase abroad costs an extra $1. This is lower than many banks, but it is worth knowing if you travel internationally.

Comparing Wells Fargo to other banks

Many online banks and credit unions offer checking accounts with no monthly fee and no minimum balance requirement. Banks like Ally, Charles Schwab, and many local credit unions do not charge a monthly fee at all. If you are deciding whether to open a Wells Fargo account, it is worth comparing the total cost — monthly fee, overdraft fees, ATM fees — against what other banks in your area charge.

Wells Fargo does have advantages that may justify the fee for some people. They have thousands of branches and ATMs across the country, which is helpful if you prefer to do your banking in person. They also offer financial education and community banking services in many neighborhoods. But if you primarily bank online and do not need a physical branch, a bank with no monthly fee might save you money.

Frequently Asked Questions

Can I avoid the Wells Fargo checking fee with a savings account instead?

No. The monthly fee applies only to checking accounts, not savings accounts. However, you cannot use a savings account for everyday spending — it is designed for money you want to keep separate. You need a checking account for bills and purchases, so you cannot avoid the fee by switching to savings.

What happens if my direct deposit stops coming?

If your direct deposit stops, the monthly fee will start again the next month unless you keep the $500 minimum balance. If you lose your job or your benefits are delayed, contact Wells Fargo right away to discuss your options. Some banks will waive fees temporarily if you explain your situation, though Wells Fargo does not may provide this.

Does Wells Fargo charge a fee to close my checking account?

No, Wells Fargo does not charge a fee to close a checking account. You can close it online, by phone, or in person at a branch. If you have any remaining balance, the bank will send it to you by check or transfer it to another account.

Are there any Wells Fargo checking accounts with no monthly fee?

Wells Fargo does not currently offer a checking account with no monthly fee, even with no minimum balance. Every Wells Fargo checking account has a monthly fee unless you meet the direct deposit or balance requirement. If you want a truly free checking account, you will need to look at other banks.

If I get charged an overdraft fee by mistake, can Wells Fargo refund it?

Wells Fargo may refund one overdraft fee if you call and ask, especially if it is your first time. They do not have a formal policy, so the decision depends on the representative you speak with. If you have been a customer for a long time and have a good account history, you have a better chance of getting the fee waived.