Wells Fargo to charge $7 fee on more checking accounts

Townhall.com Staff

3/8/2012 9:30:00 AM - Townhall.com Staff

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, Fortune 500) 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.