Wells Fargo launches new low-cost account with no overdraft fees
Wells Fargo announced the launch of Clear Access Banking, a new low-cost bank account with no overdraft fees. It is now available online and in branches.
Clear Access Banking is a checkless account that helps customers avoid spending more than the amount available in the account without incurring overdraft or non-sufficient funds fees.
The bank says the new option is designed for consumers seeking an account to help manage their spending, or who are new to banking, such as young adults.
Clear Access Banking also has been certified by the Cities for Financial Empowerment (CFE) Fund for meeting its Bank On National Account Standards for safe and appropriate financial products that can help people enter or re-enter the mainstream financial system.
The bank charges a flat $5 monthly fee.