How To Avoid Wells Fargo’s Monthly Service Fees

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Bank fees are frustrating for customers no matter the tax bracket, especially when they seem to chip away at your hard-earned money. If you’re banking with Wells Fargo, you may be wondering how to avoid Wells Fargo’s monthly service fees and keep your account fee-free.

The good news? There are multiple ways to waive these fees — and we’re here to walk you through them step by step.

Understanding Wells Fargo’s Monthly Fees

Wells Fargo charges a monthly maintenance fee on several of its accounts. Here’s a quick breakdown of the most common fees:

These fees may not seem like much initially, but they add up over time. The key is avoiding Wells Fargo’s monthly service fees by meeting certain waiver requirements.

How to Avoid Wells Fargo Monthly Fees

Each Wells Fargo account has different fee waiver options to help you avoid monthly charges. Here’s how you qualify:

1. Everyday Checking Account ($10 Fee)

Avoid the fee by:

• Keeping a minimum daily balance of $500
• Receiving at least $500 in qualifying direct deposits per month
• Being 17-24 years old (student or young adult waiver)
• Linking a Wells Fargo Campus ATM Card or Debit Card to your account

Example: If you set up your paycheck for direct deposit and it’s over $500, you’ll automatically meet the waiver requirement.

2. Preferred Checking Account ($15 Fee)

Avoid the fee by:

• Keeping a minimum balance of $10,000 across your Wells Fargo accounts
• Linking a Wells Fargo mortgage to your checking account

Example: If you have a Wells Fargo mortgage, linking it to your Preferred Checking eliminates the monthly fee.

3. Prime Checking Account ($25 Fee)

Avoid the fee by:

• Maintaining a combined balance of at least $20,000 in Wells Fargo deposit and investment accounts

4. Premier Checking Account ($35 Fee)

Avoid the fee by:

• Keeping a combined balance of at least $250,000 across Wells Fargo deposit and investment accounts

5. Way2Save Savings Account ($5 Fee)

Avoid the fee by:

• Maintaining a $300 minimum daily balance
• Setting up an automatic transfer of $25 or more from a Wells Fargo checking account
• Being under 24 years old

Example: Setting up a monthly $25 auto-transfer from checking to savings keeps your account fee-free.

Tips for Meeting Fee Waiver Requirements

Want to avoid paying fees every month? Here are some smart strategies:

• Set Up Direct Deposits – Ensure your paycheck, Social Security or benefits are directly deposited into your account to meet waiver thresholds.
• Automate Savings Transfers – A simple $25 monthly transfer to your savings account waives fees and helps build your savings.
• Consolidate Accounts – Keeping all your banking with Wells Fargo helps you meet the combined balance requirements for fee waivers.
• Track Your Balance – Use the Wells Fargo mobile app to monitor your account balance so you don’t drop below the waiver minimum.

Comparing Wells Fargo to Other Banks

How does Wells Fargo compare when it comes to monthly fees? Here’s a quick comparison:

While online banks like Ally offer fee-free checking, Wells Fargo’s advantage lies in its widespread branch network and full-service banking options.

Final Thoughts to GO: Keep Your Money in Your Pocket

No one wants to waste money on avoidable banking fees. By taking a few simple steps–like setting up direct deposit, maintaining a minimum balance, or linking accounts — you can avoid Wells Fargo’s monthly service fees and keep more money in your pocket.

If you’re unsure about your eligibility for a fee waiver, contact Wells Fargo or check their official website for the most up-to-date information.

Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Jan. 30, 2025.

Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.

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