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Wells Fargo Introduces New Monthly Fee

Basic checking customers will be charged a $7 monthly fee.

Wells Fargo said Thursday that it will start charging basic checking account customers in six states, including Pennsylvania, a $7 monthly fee, according to the Philadelphia Business Journal.

The fee will start in June and customers with a minimum balance of $1,500 or direct deposit of at least $500 won’t have to pay. The fee will be lowered to $5 for customers who opt to go paperless.

Many former Wachovia customers are now with Wells Fargo braches like the ones on and after the banks were all changed over last year.

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