Wells Fargo To Test $3 Debit Card Fee

Wells Fargo plans to test a $3 monthly fee for debit cards starting this fall.

The San Francisco-based bank said the fee will be applied to checking accounts opened in certain states starting in October. The fee would be on top of the monthly service fees that Wells Fargo already charges for checking accounts.

Wells Fargo also announced earlier this year that it will end its debit rewards program.

Banks are experimenting with fees and scaling back perks in response to a new regulation that's expected to sharply reduce their revenue. Starting this fall, a new cap will limit how much banks can collect from merchants whenever customers swipe their debit cards.

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  • by Ryan on Aug 20, 2011 at 02:50 AM
    My wife and I closed out credit union account back hom in Texas because they were sending us notices of being overdrawn. My wife called and found out that they were charging us a usage fee for the account that we weren't even using any more. We had it open just to have extra in another account and collect interest, not even taking money out of it. After going around with them, we closed the account completely. And we had really liked that bank and had it for years. Banks are just another big business that will do anything to get our money then screw us over when we want it back. I can see why people used to keep their money in coffee cans in the back yard.
  • by To JEFF and Sandy Location: Greenville on Aug 18, 2011 at 01:05 PM
    First Citizens is the way to go! Their free checking really is free (as long as you don't overdraft haha); no random fees. They are always so nice and have a $25 refer a friend program! The First Citizens in Downtown Greenville is the best one to visit!!!
  • by Jeff Location: Wilson on Aug 18, 2011 at 12:52 PM
    I have been with LGFCU since 1985, have had no complaints and their fees are a lot less than banks, $1 month maint fee on checking, not bad at all.
  • by JEFF Location: Winterville on Aug 18, 2011 at 11:56 AM
    That's ludicrous. I would think bookkeeping would be a lot easier for the banks on debit purchases vs. paper check purchases. All of our Wachovias will be Wells Fargo in October. So this happened just in time to make people want to switch over to First Citizen's or SECU. Bad business move.
  • by Sandy Jefferson Location: Greenville on Aug 18, 2011 at 07:46 AM
    I'm switching to First Citizens Bank. My neighbor told me they still had free checking and don't charge for a lot of things the bigger banks do. She said they also have great customer service.
  • by Wharf Rat Location: enc on Aug 18, 2011 at 06:13 AM
    They will "test" it and it will never go away.
  • by Mike Location: Richlands on Aug 18, 2011 at 05:06 AM
    I hate Wells Fargo, they screwed me over when i was a young man and i will never do business with them again. If they bought out my bank, I would change banks. This fee is crazy. $3 a month to use your own money when businesses are charged for using them already. I seriously would change banks.
  • by ace Location: j ville on Aug 18, 2011 at 04:35 AM
    Just stop using the Wells-Fargo card and use someone else. The people control the companies not the other way around. The only problem is self control.
  • by test driving a fee on Aug 18, 2011 at 03:42 AM
    test a $3 fee? Just another way to scam us, they are worthless. I agree with Goober. I can't figure how anyone can defend this.
  • by Goober Location: ENC on Aug 18, 2011 at 03:18 AM
    Everyone with a Wells Fargo account should move to another bank as soon as possible to send them a message....if this meets little to no resistance, all the other banks will follow
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