The main ways to dodge Wells Fargo checking fees

Wells Fargo charges a monthly maintenance fee on most checking accounts—currently $10 per month on their standard accounts—but you can avoid it by meeting one of a few conditions. The easiest route for most people is to maintain a minimum daily balance, usually $500 to $1,500 depending on the account type. If that's not realistic for you, you can also waive the fee by setting up a direct deposit of at least $500 per month, or by keeping a linked savings account with a certain balance.

The specific balance requirement and fee waiver options change slightly between account types, so the first step is knowing which Wells Fargo checking account you actually have. You can find this on your monthly statement, in the Wells Fargo app under account details, or by calling 1-800-869-3557. Once you know the account name, you can look up the exact fee waiver rules for that product.

Key Takeaways

  • Wells Fargo's standard checking account has a $10 monthly fee that you can waive by maintaining a $500 minimum daily balance, setting up a $500+ monthly direct deposit, or linking a savings account with $500 in it.
  • The fee waiver conditions vary by account type—Wells Fargo Way, Everyday Checking, and Student Checking each have different thresholds—so confirm which account you hold before relying on any single method.
  • If you cannot meet any waiver condition, you can close the account and open a different Wells Fargo product with lower or no monthly fees, or move to a bank with no monthly maintenance charges.
  • Direct deposit is the most reliable waiver method because it happens automatically once set up, whereas maintaining a balance requires active monitoring.
  • Wells Fargo charges additional fees for overdrafts, ATM use outside their network, and other services, so avoiding the monthly fee is only part of keeping costs down.

Meeting the minimum balance requirement

The simplest way to avoid the monthly fee is to keep your account above the minimum daily balance threshold. For Wells Fargo's most common checking accounts, this is $500. That means your balance cannot drop below $500 on any single day of the month—if it does, you owe the $10 fee for that month.

This method works well if you receive regular paychecks or have money sitting in the account anyway. The catch is that you have to watch your balance actively. If you're living paycheck to paycheck or your income is irregular, dipping below $500 even once will trigger the fee. You can set up low-balance alerts in the Wells Fargo app to warn you before you hit the threshold, but the responsibility is still on you to stay above it.

If maintaining $500 is genuinely impossible, this is not your best option. Move to one of the other waiver methods instead.

Setting up direct deposit to waive the fee

Direct deposit is often the easiest waiver route because once it's set up, it runs on its own. You need a recurring direct deposit of at least $500 per month—this is usually a paycheck, but can also be a pension, Social Security, or other regular income. Wells Fargo counts the deposit as long as it comes from an employer or government agency into your account electronically.

To set this up, give your employer or benefits administrator your Wells Fargo account number and routing number. You can find both on a blank check, in the app under account details, or by calling the bank. Once the first deposit hits your account, the fee waiver takes effect. If your direct deposit stops or drops below $500 in any month, the fee comes back the following month.

This method is reliable because you don't have to remember to do anything after the initial setup. The downside is that it only works if you have a regular income source that can be deposited electronically. If you're self-employed, retired, or receive income in other ways, you may not have access to this waiver.

Linking a savings account to waive checking fees

Wells Fargo also waives the checking fee if you maintain a linked savings account with a minimum balance—typically $500. This means you need $500 in a Wells Fargo savings account at the same time you hold the checking account. The savings account itself may have its own monthly fee, so check the terms before opening one just for this purpose.

This option makes sense if you're already saving money or planning to build an emergency fund. You keep $500 in savings, and your checking account fee disappears. If your savings balance drops below $500, the checking fee returns the next month. Unlike direct deposit, this requires you to monitor the balance, but it's often easier than watching a checking account if you're trying to protect savings anyway.

Checking account types with no monthly fee

If none of the waiver methods work for you, Wells Fargo offers a few checking products with no monthly maintenance fee at all. The Wells Fargo Student Checking account has no monthly fee for customers under 25, though it converts to a standard account (with fees) once you turn 25. The Wells Fargo Clear Access Banking account is designed for people with banking history issues and also has no monthly fee, though it comes with other restrictions like lower ATM limits.

Both of these accounts are real alternatives if your income or balance situation doesn't fit the waiver conditions of the standard accounts. However, they may have trade-offs—Clear Access has lower daily ATM withdrawal limits, and Student Checking expires at age 25. Read the full terms before switching.

If Wells Fargo's fee structure doesn't work for you at all, you can also close the account and move to a different bank. Many online banks and credit unions offer checking accounts with no monthly fee and no minimum balance requirement. This is a legitimate option if you're paying fees you can't avoid.

Other Wells Fargo fees to watch for

The monthly maintenance fee is just one cost. Wells Fargo also charges overdraft fees (currently $35 per overdraft), fees for using ATMs outside their network ($2.50 per transaction), and fees for certain services like wire transfers or stop payments. Avoiding the monthly fee is important, but it's only part of keeping your total costs down.

To minimize all fees, set up overdraft protection by linking your savings account or another account, which prevents overdrafts from happening in the first place. Use Wells Fargo ATMs when possible—they have a large network, so this is usually feasible. And avoid services that carry fees unless you genuinely need them.

Frequently Asked Questions

What counts as a direct deposit for the fee waiver?

Direct deposit must be an electronic transfer from an employer, government agency, or similar institution. Paychecks, Social Security, pension payments, and unemployment benefits all count. Transfers you make yourself from another account do not count, and neither do checks you deposit.

If I dip below the minimum balance for one day, do I pay the fee?

Yes. Wells Fargo checks your daily balance throughout the month. If you fall below the threshold even once, you owe the monthly fee. This is why direct deposit is often easier—it doesn't require daily monitoring.

Can I waive the fee using more than one method at the same time?

You only need one method to work. If you have both a direct deposit and a linked savings account with $500 in it, you're covered either way. If one method fails in a given month, the other can still waive the fee.

What happens if I close my Wells Fargo account—do I owe the fees I didn't pay?

No. Closing the account stops future fees. However, if you owed a fee in a previous month and didn't pay it, Wells Fargo may pursue that balance. Check your account history before closing to see if any unpaid fees are outstanding.

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

No, Wells Fargo does not charge a fee to close a checking account. You can close it online, in a branch, or by phone at 1-800-869-3557. If you have a balance, they will mail you a check or transfer it to another account.