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Any one else get this email today? Not a big deal since I use direct deposit but still ticks me off. I dont want to move to the credit union because they would charge me $1 a month. I need free! haha
Important change to your Essential Checking account
What's changing?
Effective August 7, 2012, your Essential Checking account will have a $5 monthly service fee with online only statements ($7 with paper statements). This fee can be waived with one of the following:
Maintain a $1,500 minimum daily balance, or
Maintain qualifying direct deposits totaling $500 or more each statement cycle*
If you do not meet one of the criteria above, the monthly service fee will appear on your account statement on or after September 10, 2012.
Please review the criteria above as it may be necessary for you to take action by August 7, 2012 to waive the fee. To change your delivery preferences for account statements and notices, go to Account Services and select Change Delivery Preferences.
You'll continue to receive the same benefits and services
Access to an extensive store network with more than 6,200 banking locations and 12,000 Wells Fargo ATMs
Access to award winning Wells Fargo Online® Banking with Bill Pay
Telephone customer service available 24 hours a day, 7 days a week
Direct deposit, online statements and online check images
Online money management tools with My Money Map which includes My Spending Report with Budget Watch
If you have questions, please contact your local banker or call us at 1-800-TO-WELLS (1-800-869-3557), 24 hours a day, 7 days a week.
Thank you. We appreciate your business.
I am named on a couple of my kids' Essential Checking Accounts, and one of my secondary accounts is of that type too. I don't know if the kids got that email, but I didn't - nor is there one in my online inbox.
I'm hoping by the fact that I'm on the kids' accounts they will avoid these fees - they wouldn't otherwise be able to.
I closed my account last week as my direct deposit was finally transferred to PNC Bank. (PNC offers free checking still) I started the switch after their first notice of these fees back in May.
I have a SECU account too but like using two banks.
I got the notice of the fees on my Wells Fargo account from the news then it showed up on my account statement. I got the email from Wells Fargo today but can't log in to read it as my account was closed.
Well they can't make money of stupid people anymore who don't pay their CC bill, read terms and condition etc. So now they get to make money of the normal people who just want an checking account.
Wow. They're seriously trying to kick me out of their bank. I've been a customer since 2004 (First Union). We moved everything, including our direct deposits after the Wells Fargo merger but kept the account open for a secondary account for budgeting purposes...all my clothing and other misc. entertainment comes out of that account. Makes it easier to see if there is money to spend or not. Anyway, I'm closing it now. Thanks for the heads up.
Folks banks need to make money and contrary and a lot of folks are costing them money so they don't need their accounts. They have laid out the conditions to avoid the fee so the choice is up to the individual to pay the fee, move their account or meet the minimum terms. If a person walks in a bank on Friday and deposits a check for $1,000 dollars and then proceeds to write $900 in checks and has their balance down to $100 by Monday when and how has the bank had the opportunity to come close to recovering the cost of doing business with that person? Oh yeah and on Tuesday they withdraw $50 from the ATM machine. Banks are for profit enterprises and are merely targeting their market niche.
Yes it includes student checking. I'll be closing my account and moving the rest of my money to SECU. SECU doesn't charge for direct deposit.
I think that if you have a monthly direct deposit over $500 the fee is waived.
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