28 thoughts on “Changes to Wells Fargo Everyday Checking $10 Monthly Fee Waiver Requirements (Effective October 8, 2020)

  1. Rick

    Grant, this is why I love your blog. You cover issues no one else does. Like you, I have a WF Everyday Checking a/c, don’t use my debit card, and just park $1,500 for free checking. I get e-statements which I never read, so I didn’t know I’ll be able to use the extra $1K in my acct effective 10/8! Thank you for the good news! (Lesson learned: read my statements.)

    Reply
    1. Grant Post author

      Hi Rick, thank you for the compliment. My motto for the blog is to write about stuff that I would want to read about and I often find nuggets of good info in credit card and bank statements. The banks and credit card companies like to sneak in changes in their statements and that is usually the first place changes are announced. Glad I could free up $1,000 for you to put elsewhere :)

      Reply
  2. Pingback: Recap: Wells Fargo Checking Changes, DoorDash IPO & More - Doctor Of Credit

  3. Brian L Balch

    Good news! Frees up $1,000. Now they need to do the $400 promo again… P2’s 12-month churn came just after they pulled it a few weeks ago.

    Reply
      1. John

        I don’t have a P2, but I’d have to cancel my Wells Fargo account and then wait a year to get the offer again right? I kind of like the $500 minimum balance and WF location convenience.

        Reply
        1. Grant Post author

          I would check with Doctor of Credit to see what the requirements are for getting the bonus again in the future. You may need to wait a year between getting bonuses.

          Reply
  4. Steve

    Why anyone would do business with WF is beyond belief. They are a crooked, cheating, sham of a business. Literally being sued for BILLIONS in fines by the USG. Thats YOUR money!

    Reply
    1. J

      To get at least a thousand dollars a year in net bonuses from the complete and utter crooks? Seems pretty simple logic to me.

      Reply
  5. PogoP

    Just got my statement with the notice. It also says that I’ll be getting a fee waiver for nine months beginning on 11/08.Anybody else?

    Reply
        1. Grant Post author

          Got it, maybe Wells Fargo wanted to give you plenty of time to see the new change to the monthly service fee waiver requirements.

          Reply
  6. Jihn

    For me it’s bad news. I use the account as my everyday account. I have it as a joint account and i don’t do much on it except use it to pay bills. So i try to make 10 transactions to make sure i don’t pay the service fee but now I’ll have to be parking $500 that I’ll be needing until the billing cycle closes

    Reply
    1. Grant Post author

      Would you be able to do a $500 monthly direct deposit and then move the funds to your primary checking account at a different bank? That will avoid tying up the funds with Wells Fargo.

      Reply
  7. md285

    I have no extra money. Right now $10/month is a fortune. I’m only with WF because of zelle and how easy it is to move money around in the family for groceries they pick up for me, etc. I depend on the 10 transactions to get my fee waived. I’m disabled and don’t drive, and have no clue why I’m going to do. I bet the guys at the top never thought $10 would make someone cry, even if they gave a rat’s rear about it at all.

    Reply
      1. md285

        I know I could look it up, but this is easier. Sorry. Can Zelle work between banks? If my family stays with WF and I switch banks could that still work?

        Reply
          1. Grant Post author

            Yes, VeeRob is correct. Zelle works across all 924 different banks and credit unions, so it doesn’t matter what bank / credit union you use and what your friends / relatives use.

  8. Liah

    A couple of months ago, even though I had made more than 10 debit card purchases or debit card payments of bills in combination, I still was charged a monthly service fee. I tried to dispute it, referring to my checking account statement document; in response, I received “our records indicate 1 debit card purchase/payment posted to the account” …What the heck is that?

    Reply
    1. Grant Post author

      Hi Liah, that is strange, it sounds like you completed the requirements to waive the monthly service fee. Has this happened to you more than once?

      Reply
      1. Leah

        The first time I noticed that type of actions back in 2016, as I always did/do my Bill Paying online with them and check my monthly statement(s) on a regular basis. At that time, they blamed their system and said that it had been a technical error; then, they apologized and refunded the disputed amount.

        This year, they charged my checking account a monthly service fee two months in a raw, for two periods. After I had asked Wells Fargo online to provide an explanation why the monthly fee was charged for [period 1], one of the representative wrote “Because we value our relationship with you, I reimbursed your account in the amount of [$]. A fee was assessed on [date] because the account didn’t meet the requirements to waive the monthly service fee,” when it actually did according to my checking account statement document, “our records indicate 1 debit card purchase/payment posted to the account during [period 1]”.

        As to [period 2], they have not refunded the disputed amount; their written response was, “our records show that there are only one debit card transactions posted to your account for the month of October (?) statement cycle starting from 08/11/2020 through 09/09/2020 (?)”, when I actually was speaking about the period from 07/11/2020 through 08/09/2020 (August 2020 Statement) in my disputing letter.

        Reply
        1. Grant Post author

          Hi Leah, that sounds really frustrating dealing with Wells Fargo. It’s like there is a language barrier between the questions / comments you are making and what the WF rep is hearing.

          Reply

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