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 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 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.
International Transaction Fee -3% on all foreign transactions.
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.
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