Money Makers Mentor

Wells Fargo Launches Account to Target Young, New Users

Wells Fargo launched its Clear Access Banking account in the first week of September to better their consumer banking experience.

The account comes with no minimum balance, no overdraft fee and a $5 monthly banking fee. The launch of the account was sped up from 2021. It is targeting customers looking for an account to manage their spending. Wells Fargo is also seeking customers new to banking, like young adults. The Clear Access Banking account will also restrict transactions that are more than the amount available to avoid incurring overdraft or non-sufficient funds fees.

The new account is part of Wells Fargo’s efforts to simplify its products and services by “reducing the number of consumer checking accounts we offer new customers to a core set of accounts with the features our…

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