Wells Fargo users hit with new monthly $15 fee on ‘everyday checking’ accounts thanks to October 25 policy shift

SOME Wells Fargo customers are getting hit with a new monthly fee, but there will be more ways to avoid it starting in October.

The prominent financial institution confirmed the changes last month, with the increase starting soon.

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Some Wells Fargo customers will notice an account change soon (stock image)[/caption]

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It only applies to the Wells Fargo Everyday Checking account (stock image)[/caption]

Consumers who have the Everyday Checking account with Wells Fargo already pay a $10 monthly service cost.

That is, if they don’t meet the eligibility criteria to have it waived.

Starting October 25, there will be more ways for Everyday Checking account holders to negate the $10 fee.

“Starting with fee periods that begin on or after October 25, 2025, your account will have new and different ways to avoid the monthly service fee which will continue to be applicable after the fee increase,” Wells Fargo noted in a statement on its website.

That increase, which will be up to $15 for monthly service instead of the current $10 amount, officially applies on November 29, at least for those “fee periods that begin on or after” the date.

As it stands today, there are four ways consumers with Everyday Checking accounts through Wells Fargo can get rid of monthly service fee.

The first includes making an electronic deposit every fee period worth $500 or more.

Another option is maintaining a minimum $500 daily balance throughout the entire month.

Third, the account holder’s age range could automatically qualify them to have the monthly fee scrapped, as those between the ages of 17 and 24 don’t have to pay it.

Lastly, an account holder that has a non-civilian military direct deposit from the Wells Fargo Worldwide Military Banking Program would get to have the charge waived.

WAIVE IT

Starting October 25, there are five ways to void the soon-to-be $15 monthly fee, with some remaining the same and others either updated or brand new.

The $500 in total qualifying electronic deposits stays the same, for example, along with the age range of 17 to 24, and those who are part of the Wells Fargo Worldwide Military Banking Program.

Except, the $500 minimum daily balance was increased to $1,500 starting on October 25, along with the inclusion of the new criteria of making $5,000 or more in deposit or investment balances.

Wells Fargo noted that it can determine if an account holder has met the new $5,000 deposit requirement if “on the last day of each fee period, balances in eligible accounts” total that amount or more.

More details can be found in the Monthly Service Fee Summary section of Everyday Checking account holders’ statements.

CARD CASH

The bank is also still offering consumers a chance at $200 in free cash this month.

It comes as a generous sign-up bonus for the Wells Fargo Active Cash Card.

Those who get the credit card must spend at least $500 in the first three months of activating it, and then the $200 will be awarded as a statement credit after that time.

It’s a fairly reasonable spending threshold considering that those for other cards can be upwards of $3,000 or more.

Consumers could also make the most out of the $200 in free cash by planning ahead.

If they already have money set aside for a larger purchase that amounts to $500 or more, they could simply put it on the Wells Fargo Active Cash Card, pay it off immediately, and secure the bonus.

That way, they’re not in the hole $500 just to get the promotion.

Similar deals are available from top competitors.

Chase Bank, for example, is promising $200 to certain cardholders along with 1.5% cash back on all purchases.

A little-known “enhanced” rewards card from a major competitor slashes streaming costs by about $275 yearly as well.