Wells fargo now charging for deposits!

Mr Quayle,

Monday, 1/13/14, I got a notice from my bank, Wells Fargo. It was a notice (see copy below) to inform me of changes with my checking & savings accts with them. Ive attached 2 pic of the letter so you can see. It reads: "Effective April 7, 2014, the fee for deposited U.S. or foreign currency denominated international items, including drafts, will be $5.00 per item."

I called their 800-869-3557 texas call center to make sure I wasnt seeing things and the customer service rep Adelina informed me that whenever I will make a deposit of my paycheck or anything.. I will be charged $5.00. This was a fear back in Nov I see, but now we can add it to one more fear come true. I closed my account. I cant afford to be charged to deposit money. Guess I'll be doing my banking at Amscott? I am a single woman working at temp jobs when they come & living with my newly "retired" mother who was laid off her job as well. Thanks to the grace of God we have what we need in these times though. Thanks for keeping us all up to date and God bless you & yours.

Jennifer in Florida

Update from Stacy...

Steve, I had heard about banks going to charge people for their deposits. Well it is absolutely true. I really thought it would be the too big to fail banks, and I was suprised when I seen this on last months statements. I am a bookkeeper and I have never seen charges like this before. These fees can big huge, depending on how much money your business makes in a given month. As I understand this is only for business accounts and not personal ones, yet. This is just a small bank. This is what was written at the top of the bank staement. As of "Januray 1 2014 all coin and currency deposited over $10,000.00 into this account each month will have a fee of $0.10 per hundred". See enclosed statement.

Thanks for your hard work in keeping us informed,

Stacy


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