Personal Finance
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2 mins read
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July 16, 2020
Wells Fargo Checking and Savings Accounts Fees, 2020
Fees and charges associated with Wells Fargo checking and savings accounts
In search for a new bank account to store, save or spend your hard-earned money? Be warned! Behind those bright billboards of smiling grandmas in newly outfitted veneers lie a labyrinth of hidden fees. Large banks want you to believe that their accounts are free and easy to use. Dig deeper and you’ll find more than fifteen different charges waiting to entrap you - from monthly maintenance fees to overdraft and wire transfer fees.
But fret not champ!
We’re here to help
. Read on to understand all the fees associated with the Wells Fargo account.
Wells Fargo Checking Accounts
Wells Fargo offers three primary types of checking accounts,
- Wells Fargo Everyday Checking
- Wells Fargo Preferred Checking
- Wells Fargo Portfolio
Wells Fargo Checking Account Fees
Wells Fargo also offers specialized checking accounts for teenagers called
Teen Checking
and for low-credit applicants called
Opportunity Checking.
Wells Fargo Savings Accounts
Wells Fargo offers two types of savings accounts,
- Wells Fargo Way2Save Savings
- Wells Fargo Platinum Savings
Wells Fargo Savings Account Fees
Wells Fargo Wire Transfer Fees
- Incoming domestic wire transfer fee → $15
- Incoming international wire transfer fee → $16
- Outgoing domestic wire transfer fee → $30
- Outgoing international wire transfer in foreign currency fee → $35
- Outgoing international wire transfer in USD fee → $45
Wells Fargo Additional Fees & Charges
-
Overdraft Fee -
$35 per overdraft across all accounts.
-
Insufficient Funds Fee
- Unlike overdraft, the NSF fee is charged when a payment is returned due to insufficient balance. Standard fee of $35 per returned item across all accounts.
-
ATM Withdrawal Fee
- $2.50 for out-of-network withdrawals and $5 for international withdrawals.
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International Transaction Fee
- 3% on all foreign transactions.
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Cashiers Check Fee
- $10 per check.
-
Money Order Fee
- $5 per money order.
Our Verdict
While Wells Fargo offers extensive branch and ATM coverage with its national presence, near-zero interest rates and a bevy of hidden charges make their checking and savings accounts an expensive proposition for most consumers.
