The product’s launch comes as digital banking soars at Wells Fargo and the company eyes ways to simplify and improve its offerings.Ĭlear Access Banking meets the Cities for Financial Empowerment Fund’s Bank On National Account Standards for safe and appropriate financial products that can help people enter or re-enter the financial system. Unbanked clients who became banked and opened accounts they used regularly during counseling were almost eight times more likely to increase their savings compared to the unbanked.
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But with the new Clear Access Banking, customers can feel at ease.Ī Cities for Financial Empowerment Fund study found that unbanked financial counseling clients were half as likely to be able to increase savings and over a third less likely to establish a new credit score, even when working closely with trained, professional counselors.
#Wells fargo checkbook registers full
And for a flat $5 monthly fee - waived for 13- to 24-year-old primary account owners - customers can access a full array of convenient banking services, including the Wells Fargo Mobile ® app with mobile deposit bill pay and other Wells Fargo Online ® banking tools Zelle ® ATMs bank branches and 24-hour Phone Bank support.Īccording to research from The Pew Charitable Trusts, many consumers have inadequate access to safe and affordable banking products and face significant financial stress. It’s a great account to help people manage their spending, and is a convenient, modern, digital-forward product for customers not needing some of the old-school elements of a checking product like physical checks and a checkbook.” - Urmila Raghavan, leader of Consumer Deposit Product and Portfolio Management for Wells FargoĪccount holders won’t incur overdraft or nonsufficient funds fees on their Clear Access Banking account, including any caused by holds for gas, hotel purchases, or restaurant tips.
“ Clear Access Banking offers a big safety net and peace of mind. Clear Access Banking SM helps customers avoid spending more than what they have in their accounts, which makes it ideal for people who are either newer to banking, like teens, or need help managing their account balances, said Urmila Raghavan, leader of Consumer Deposit Product and Portfolio Management for Wells Fargo.
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