[Vision2020] And that's just to zip up your pants afterward.

[Art Deco]

Wells Fargo to charge $7 fee on more checking accountsBy Blake
Ellis<blake.ellis at turner.com>
@CNNMoney <https://twitter.com/intent/user?screen_name=cnnmoney> March 7,
2012: 7:51 PM ET

NEW YORK (CNNMoney) -- Wells Fargo will start charging $7 a month for
checking accounts in six more states, expanding on its efforts to do away
with free checking accounts altogether.

While Wells Fargo
(WFC<http://money.cnn.com/quote/quote.html?symb=WFC&source=story_quote_link>,
Fortune 500<http://money.cnn.com/magazines/fortune/fortune500/2011/snapshots/2578.html?source=story_f500_link>)
stopped offering free checking accounts to new customers in 2010, existing
customers were able to hold onto their free accounts. But then last year,
the bank transitioned a group of existing customers -- mainly in Western
states -- to the same $7-a-month accounts that it provides new customers.
And now existing customers in six more states are about to be hit with the
fee.

The $7 monthly service fee will be assessed on the bank's Essential
Checking account. Customers can waive the fee by maintaining a $1,500
minimum daily balance or making direct deposits of $500 or more each month.
They can also get a $2 discount on the fee by opting to only receive online
statements.

The bank, which has branches in 39 states and Washington D.C., declined to
comment on whether this will mark the end of its rollout. It also wouldn't
disclose which states would be affected by the new fee. However, CNNMoney
received a Wells Fargo statement for a banking customer in New York that
stated a new $7 fee would be applied to their account.
Community banks team up to fight the
megabanks<http://money.cnn.com/2012/02/17/smallbusiness/community_banks_kasasa/index.htm>

The new monthly fee will be effective May 4 in the six states, and will
begin showing up on June statements (if the requirements for getting the
charge waived aren't met), the bank said.

"This has been a gradual change -- we've notified many customers that this
change would be happening, and this is another extension of that," said a
Wells Fargo spokeswoman. "We want our customers to come in and talk to us
and make sure they are in the right account and getting the options they
need." [image: To top of
page]<http://money.cnn.com/2012/03/07/pf/wells-fargo-checking-fee/index.htm?hpt=hp_t3#TOP>
First Published: March 7, 2012: 6:48 PM ET


-- 
Art Deco (Wayne A. Fox)
art.deco.studios at gmail.com
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