topic Re: WELLS FARGO Everyday Checking Changes / Updates in Personal Finance

WELLS FARGO Everyday Checking Changes / Updates

Wavester64 — Tue, 26 Aug 2025 19:29:34 GMT

Didn't see this posted so I thought I would mention it.

Seems like WF is making some changes to this account (which is going to cause me to close it)

We're updating our Everyday Checking account, offering customers an option to use relationship balances to avoid the monthly
service fee.

What's happening?

You'll avoid the $10 monthly service fee when you meet any one of the following conditions for fee periods* that begin on or after
October 25, 2025:
- Most used: $500 or more in total qualifying** electronic deposits (such as direct deposits of payroll or Social Security benefits)
- New: $5,000 or more in qualifying deposit balances, investment balances, or both***
- Updated: $1,500 minimum daily balance (increased from $500)
- A primary account owner who is 17 to 24 years old****
- A qualifying monthly non-civilian military direct deposit with the Wells Fargo Worldwide Military Banking program*****
The $10 fee will continue to be waived if your Everyday Checking account is linked to a Prime Checking or Premier Checking
account.
For more information about the changes to Everyday Checking, visit wellsfargo.com/everydaycheckingchanges.

It's the RED change that is going to force me to close the checking account. I don't use it much, except to pay the WF CC (which I don't use much either except for a recent balance transfer to which the Checking account could have finally come in handy ) And I don't plan on keeping $1500 dead in there to keep it open.

Just a PSA in case you Wells peeps didn't know about it

Re: WELLS FARGO Everyday Checking Changes / Updates

GZG — Tue, 26 Aug 2025 20:08:29 GMT

if their checking SUBs are anything to go off of, most ach transfers should qualify for the DD requirement, no way to know for sure though unless you care enough to try it yourself

but ofc first US bank does it, so now the rest will have fun adding on to making their checking accounts worse with increased fees as well

Re: WELLS FARGO Everyday Checking Changes / Updates

CreditCuriosity — Tue, 26 Aug 2025 23:44:10 GMT

Only thing WF is good for is churning bonuses even with higher cap think bonus is 400 checking and about to tap that again then close account after it posts. No secret my despite for them free 300-400 each year or every other. Appears this change is likely to stop churners although much easier ways of doing it or just be more greedy and want to charge more fees to those that can't keep the min balance in their. likely the latter of the two knowing WF.

Re: WELLS FARGO Everyday Checking Changes / Updates

AndySoCal — Wed, 27 Aug 2025 00:36:06 GMT

I do not see why you should bank with WF. Their savings accounts pay 0.01% interest with a minimum balance fee of $5.00 and $12.00. The CD rates you can do better elsewhere. My credit unions can do better on the savings and no minimum balance fee. The checking account no minimum balance fee and most of the other fees. With my credit union CO-OP network I have access to over 30,000 fee free ATM's across the U.S.

Re: WELLS FARGO Everyday Checking Changes / Updates

Jeffster1 — Wed, 27 Aug 2025 08:48:34 GMT

That's it for me with WF, then.

My accounts there date back to when I was a mere kid and opened them with First Interstate Bank which merged with WF in 1996. I've kept checking and savings open with a month's worth of expenses as a backup if my primary accounts at Bank of America are hacked. This actually happened to me in 2014 when I only had WF. My WF accounts were hacked and waited ten days to get my money back so I could pay expenses.

I didn't have relationships back then with American Express, Navy Federal, Bank of America and BMO as I do today. I think it's time for me to close the door on that chapter of my life and say goodbye to WF.

Re: WELLS FARGO Everyday Checking Changes / Updates

crystal626 — Thu, 28 Aug 2025 04:18:13 GMT

I'm so glad I didn't get suckered into switching to one of the big banks from my regional bank. It seems they're all trying to suck more money out of our pockets now that the regime is friendly to the banks. Waiting for US Bank to kill my free Gold checking too.

Re: WELLS FARGO Everyday Checking Changes / Updates

Jeffster1 — Thu, 28 Aug 2025 20:18:14 GMT

On my way to close my WF accounts right now.

Re: WELLS FARGO Everyday Checking Changes / Updates

Realist — Fri, 29 Aug 2025 04:06:24 GMT

Your banking hub should be local to you, imo. Whether it's a bank, or a credit union, I use many of both, I want to be able to drive to their institution, if I ever need to do business with them. I bank online, I only want the option.

Wells Fargo is fine for banking welcome bonuses. They're fine if you want to chase down some of their credit card welcome bonuses. They're fine if you want to use their services to check your FICO 9 score. I don't find them fine to use as a checking and savings bank solution.

Wells Fargo is definately on the SUB rotation circuit, but nothing else otherwise.

Re: WELLS FARGO Everyday Checking Changes / Updates

crystal626 — Fri, 29 Aug 2025 17:52:59 GMT

@Realist wrote:
Your banking hub should be local to you, imo. Whether it's a bank, or a credit union, I use many of both, I want to be able to drive to their institution, if I ever need to do business with them. I bank online, I only want the option.

Wells Fargo is fine for banking welcome bonuses. They're fine if you want to chase down some of their credit card welcome bonuses. They're fine if you want to use their services to check your FICO 9 score. I don't find them fine to use as a checking and savings bank solution.

Wells Fargo is definately on the SUB rotation circuit, but nothing else otherwise.

Funny enough, Wells Fargo is extremely close to our house. My bank is a bit further away but Wells Fargo would never be my primary. I can't remember the last time I had to go in though.

Re: WELLS FARGO Everyday Checking Changes / Updates

DaveInAZ — Sun, 31 Aug 2025 23:44:28 GMT

@Wavester64 wrote:
Didn't see this posted so I thought I would mention it.
Seems like WF is making some changes to this account (which is going to cause me to close it)
You'll avoid the $10 monthly service fee when you meet any one of the following conditions for fee periods* that begin on or after
October 25, 2025:
- Most used: $500 or more in total qualifying** electronic deposits (such as direct deposits of payroll or Social Security benefits)
- New: $5,000 or more in qualifying deposit balances, investment balances, or both***
- Updated: $1,500 minimum daily balance (increased from $500)
- A primary account owner who is 17 to 24 years old****
- A qualifying monthly non-civilian military direct deposit with the Wells Fargo Worldwide Military Banking program*****
The $10 fee will continue to be waived if your Everyday Checking account is linked to a Prime Checking or Premier Checking
account.
For more information about the changes to Everyday Checking, visit wellsfargo.com/everydaycheckingchanges.

It's the RED change that is going to force me to close the checking account. I don't use it much, except to pay the WF CC (which I don't use much either except for a recent balance transfer to which the Checking account could have finally come in handy ) And I don't plan on keeping $1500 dead in there to keep it open.

Just a PSA in case you Wells peeps didn't know about it

Thanks, I do have a Wells Fargo Everyday checking. That notice was buried at the bottom of the August statement, good old Wells Fargo. But the notice also said "For more information about the changes to Everyday Checking, visit wellsfargo .com/everydaycheckingchanges". And that says:

For fee periods that begin on or after October 25, 2025

Avoid the monthly service fee when you meet any one of the following each fee period:

$500 or more in total qualifying electronic deposits Footnote2
Updated: $1,500 minimum daily balance

- That footnote2 is the standard verbage that "qualifying electronic deposits" includes any ACH deposits. I've been avoiding fees by with just an $500+ ACH deposit from my credit union, which I use to pay bills in my WF checking. So I printed that out as a PDF and if they try to charge me a fee well, I followed your instructions and here is what it says. I do think that "$5,000" in DDs on the statement is a typo, get serious: You expect $60,000 in annual DDS to avoid a $10/mo. fee on your most basic checking account? Get real.

https://update.wf.com/conversion/everydaycheckingchanges/

Re: WELLS FARGO Everyday Checking Changes / Updates

KatzNDawgs — Mon, 01 Sep 2025 20:18:03 GMT

I never kept 500+ in my WF anyhow, I just cycled $$ through DD requiring banks with the same starting amount. So far they have been fine with ACHs from Citi, NFCU, Fidelity, and Discover at least and not given me a fee.

Re: WELLS FARGO Everyday Checking Changes / Updates

Jeffster1 — Tue, 02 Sep 2025 00:03:08 GMT

Went into my local WF branch on Friday after the gym and unintentionally caused a mini-scene when I was closing my account. I decided to go in person because I wanted to leave with my check in hand so I could deposit it elsewhere before the nightly cut-off.

I went to the window and advised the teller that I wanted to close my checking and savings accounts. She told me that she could only zero out my accounts and issue me a check. She added that I needed to speak with a banker to actually close the account but that none were available. She advised that I could close it online and have them send me a check. I politely advised her that I wanted to leave with the check in hand.

I told her that my primary concern was that, once she zeroed out the accounts, a fee would be assessed and I would be in the negative. She told me to call Customer Service after she zeroed out the account, and they would ensure that I am not assessed a fee.

She asked me why I was closing the accounts and I politely and quietly explained that it was due to the new fee structure.

I guess the older lady at the next teller was eavesdropping and loudly asked, "What new fee structure? " I briefly explained, and then the teller helping her, jumped in and began arguing that all banks charge fees. I ignored her. The lady asked me what bank I would suggest she consider, and I quietly suggested Navy Federal, explaining that there are eligibility requirements. The teller assisting her kept arguing but I ignored her. I was not there to fight or cause a scene. I only wanted my money.

I tried to end the conversation, but the lady kept asking questions and then the people in line behind me started speaking up, complaining about the new fee structure. The teller assisting me was very nice, and I kept apologizing to her for all the interruptions. The teller assisting the lady, however, would have come through the glass to strangle me if she could.

I took my check and called Customer Service. The rep quickly closed my accounts and assured me that there would be no fee charged. While I may appear paranoid about being assessed a fee when the account was zeroed out, I well remember the few times my account went below the minimum amount and the fee was slapped on almost instantaneously.

When I left after finishing up with Customer Service on the phone, the older lady was still at the teller's window arguing. I don't know if I had started something LOL All I wanted was to walk in, get a check and walk out.

I will say that it seemed to me from the way the other teller reacted that WF might be experiencing a lot of backlash. Not that it will change anything.

Re: WELLS FARGO Everyday Checking Changes / Updates

DaveInAZ — Tue, 02 Sep 2025 18:22:39 GMT

@Jeffster1 wrote:
Went into my local WF branch on Friday after the gym and unintentionally caused a mini-scene when I was closing my account. I decided to go in person because I wanted to leave with my check in hand so I could deposit it elsewhere before the nightly cut-off.

I went to the window and advised the teller that I wanted to close my checking and savings accounts. She told me that she could only zero out my accounts and issue me a check. She added that I needed to speak with a banker to actually close the account but that none were available. She advised that I could close it online and have them send me a check. I politely advised her that I wanted to leave with the check in hand.

Well yes, somehow Wells Fargo manages to hire some of rudest people to work for them. I had a WF account for 10 years, and then in 2010 a sizable 2 year CD I had with them did an auto rollover to a new 6 month CD paying only .1% interest. I checked and they had a 2 year CD paying 1.99%. (This was post-2008 financial crises when rate were very low) So I call and tell a banker I want that 2 year CD, not 6 months, and he tells me I have to go into a branch to do that. I explained i had recently bought a rural property and the nearest branch is now an hour away. He just repeats "You have to go to a branch to do that". I tell him that's ridiculous, why can't I do that over the phone? He repeats "You have to go to a branch to do that", like I'm some imbecile. Finally, after several more rounds I hung up. And drove to a branch and told them: "Give me all my money and close all me accounts!"

But, I've been back with them for a couple of years now, fora couple reasons. And to reiterate: The $500 per month in ACH deposits to avoid fees is not changing. And most any ACH deposit works, I've been doing a $500+ ACH deposit from my credit union and that works fine.

The OP mis-read that notice, it is $5,000 or more in qualifying deposit balances, investment balances, or both, OR $500+ ACH deposit to avoid fees. I called Wells Fargo to confirm this.