Wells Fargo launches low-cost account with no overdraft fees

Wells Fargo announced the launch of Clear Access Banking, a low-cost bank account with no overdraft fees available online and in branches. For a flat, $5 monthly fee that may be waived for primary account owners 13 through 24 years old, the account features:

  • access to Wells Fargo Mobile app and Wells Fargo Online banking tools, including Online Bill Pay
  • account alerts to help customers stay on top of their finances and track available funds
  • access to Zelle to send and receive money
  • a contactless Wells Fargo Debit Card
  • and more

“Our customers are seeking clear, easy to use, low-cost bank accounts for day-to-day money management. Our new Clear Access Banking account demonstrates our commitment to provide a simplified banking experience. It gives customers the comfort of having one account with a low monthly fee for money management, payments and access to all digital banking experiences and services. This simplicity is as important as ever to customers in the wake of the pandemic and recent economic challenges. Our work to simplify our bank accounts is driven by listening to our customers and understanding their needs. As a company, we’re moving with urgency to remove complexity, and create a better experience for our customers. The fast pace of the improvements we’re making is evident in our roll out of Clear Access Banking, well ahead of our original target date of early next year. These updates are supporting Wells Fargo’s larger transformation and focus on earning trust and building lifelong relationships with our customers.” – Ed Kadletz, head of Wells Fargo’s Deposit Products Group for Consumer and Small Business Banking.