Wells Fargo Introduces New 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 Wells Fargo bankers after the banks were all changed over last year.

There is a Wells Fargo location at in Conshohocken.