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Wells Fargo Introduces New Monthly Fee

Basic checking customers will see a $7 monthly fee.

 

Wells Fargo said Thursday that it will start charging basic checking account customers in six states, including Pennsylvania, a $7 monthly fee, according to the Philadelphia Business Journal.

The fee will start in June and customers with a minimum balance of $1,500 or direct deposit of at least $500 won’t have to pay. The fee will be lowered to $5 for customers who opt to go paperless.

Many former Wachovia customers are now Wells Fargo bankers after the banks were all changed over last year.

Here are the local Wells Fargo branches:

Jim Moore March 10, 2012 at 01:42 AM
Well, imagine that. Another big bank has found another way to gouge their lower income customers.......Jim Moore
michael March 10, 2012 at 12:10 PM
Why dont the morons in Harrisburg require all employers in the state offer direct deposit??????????????????????? They dont because the are all worthless!
brian sutcliffe March 11, 2012 at 02:44 PM
I don't know why everyone gets so crazy about these fees. Go to any emerging market economy and their banks charge for any basic service. Congress has regulated these institutions much like the EM countries after 1998 crisis. This is what we all can expect with higher regulations.

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