Wells Fargo Launches New Checking Account With No Minimum Balances or Overdraft Fees

Wells Fargo (NYSE: WFC) is making a play for cost-conscious banking consumers. The bank announced that it has rolled out a new type of account, Clear Access Banking, that boasts low costs and limited fees.

Clear Access Banking is a checking account that carries no account minimum, and incurs no overdraft or insufficient funds fees. It does have a monthly charge ($5.00), but this is waived for account holders ages 13 to 24.

It comes with a contactless debit card, which the bank says can be used in over 13,000 ATMs around the U.S. Account holders can access Clear Access Banking by digital means (online and mobile) and over the phone.

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Source Fool.com