Wells Fargo has announced a significant increase in its account maintenance fee. Effective November 29, the monthly fee will rise from $10 to $15. Previously, there were several ways to avoid the monthly fee, such as maintaining a minimum daily balance of $500 or being between 17 and 24 years old. Now, the requirements have also changed, including the need to maintain a minimum balance of $5,500 in deposits and investments.
Receiving direct military deposits through the Worldwide Military Banking program and thus avoid paying the monthly fee
Wells Fargo confirmed the changes last month and clarified that, while the fee is increasing as we explained, they are also expanding options to avoid paying it. For example, if you maintain a certain account balance, you can save $60 a year. Previously, you could make electronic deposits of at least $500 each period or receive direct military deposits through the Worldwide Military Banking program and thus avoid paying the monthly fee. Now, among the changes is the option to maintain a daily balance of $300 for the entire year, also referred to as a fee period on the website. This is all in addition to the $10 monthly service fee already paid by customers with the Everyday Checking account at Wells Fargo.
The bank is promoting its Active Cash Card with a $200 bonus for new users
These changes are important because, on the one hand, they will significantly impact customer accounts, and on the other hand, they will be implemented within days. Indeed, as mentioned above, instead of needing a $500 daily balance, customers now need to maintain at least $1,500 in their account at all times. However, these changes also include ways to avoid fees and new account options. The bank is promoting its Active Cash Card with a $200 bonus for new users who spend at least $500 within the first three months.
“Starting with billing periods beginning on or after October 25, 2025, your account will have new and different ways to avoid the monthly service fee, which will still apply after the fee increase”
Another example that Wells Fargo account holders can take advantage of is that they can make a minimum of one automatic transfer of $25 or more. Wells Fargo has also announced that: “Starting with billing periods beginning on or after October 25, 2025, your account will have new and different ways to avoid the monthly service fee, which will still apply after the fee increase.” The company has ensured that this information reaches customers from the very beginning of the changes.
It’s recommended to make one or more transfers from a linked Save As You Go account during the year
Another option available to users is to set up one automatic transfer each business day, with a minimum balance of $1, during the fee period. This will help you accumulate enough funds at the end of the month to avoid falling into a balance that triggers the $15 monthly payment. It’s also recommended to make one or more transfers from a linked Save As You Go account during the year. Keeping your account up-to-date is essential to avoid paying for safekeeping.
Finally, the age limit remains in place for user accounts. Wells Fargo states that the fee is waived for account holders 24 years of age or younger. Furthermore, as previously explained, account holders receiving a non-civilian military direct deposit from the Wells Fargo Worldwide Military Banking Program are also eligible for the fee waiver. Therefore, if you have a Wells Fargo account, be sure to stay informed to avoid any surprises at the end of the month. And as always, if you have any questions, it’s best to consult official online sources or visit your nearest branch.
