Wells Fargo Launches New Checking Account With No Minimum Balances or Overdraft Fees

[Anonymous]

https://www.fool.com/investing/2020/09/02/wells-fargo-launches-new-checking-account-with-no/

Clear Access Banking is a checking account that carries no account minimum and incurs no overdraft or insufficient funds fees. It does have a monthly charge ($5.00), but this is waived for account holders ages 13 to 24.

It comes with a contactless debit card, which the bank says can be used in over 13,000 ATMs around the U.S. Account holders can access Clear Access Banking by digital means (online and mobile) and over the phone.

[ToxikPH]

Sounds great except for the monthly fee... $5 and the only way to waive it is your age? Not the best play I would have to say. Adding a small DD or minimum balance to waive would make this account great. Eh, sticking to CU's and online-only banks.

[CreditCuriosity]

Meh shouldnt have to pay a bank to hold your money many banks will or cu's will do it free regardless of balance.

[BearsCubsOtters]

Hmm, interesting. They already waive the fee on their Everyday checking account for 17-24 year-olds. 

For the rest of us, the Everyday checking is free with a $500 direct deposit once a month-which, I would assume most employed people and those that receive government benefits qualify for.