1. Ms. DeJesus-Lowe Wells Fargo Bank
Banking
Ms. DeJesus-Lowe
Wells Fargo Bank

2. Checking Accounts Different Types Interest vs. No interest Accounts
Teen accounts
Minor accounts
College accounts
Adult accounts
Interest vs. No interest Accounts

3. Checking Accounts (cont’d)
Minor Accounts
Requirements for the account:
Age: Under 18
Co-signer: Must have adult signer over 18
Minimum deposit required to open account is $50 for checking (25$ for savings)
No minimum credit score needed
Debit card included? Yes
Minimum balance needed? No

4. Checking Accounts (cont’d)
Minor Accounts
Fees?
Teen Checking $3 Monthly Service Fee
Overdraft/bounced check fee $15
W2S (Way 2 Savings) Savings = no Monthly Service Fee
Interest?
On savings accounts
Rate varies
Currently (week of 4/14/14) = 0.01%
Ordering checks
Checks must be requested by Adult Signer on minor checking accounts
Online banking is included
Online billpay is included

5. Checking Accounts (cont’d)
Teen Accounts
Requirements for the account:
Age- 13 to 17
Co-signer: Yes
Minimum deposit required to open account is $50
No minimum credit score needed
Debit card is included
No minimum balance needed

6. Checking Accounts (cont’d)
Teen Accounts
Fees
$3 monthly service fee
Monthly service fee waived with online only statements
$15 fee for overdrafts/bounced check per item
(max 30$ per day)
No Interest earned
Checks can only be ordered by adult signer on account
Online banking is included
Online billpay is included

7. Checking Accounts (cont’d)
College Accounts
Requirements for the account:
Age- up to 24
Co-signer: None if over 18
Minimum deposit required to open account is $50
No minimum credit score needed
Debit card is included
No minimum balance needed
But you can have monthly service fee waived with a $500 daily balance

8. Checking Accounts (cont’d)
College Accounts
Fees:
$3 Monthly service fee
Waived if you have $25 and Direct Deposit or $500 daily balance
No interest
Ordering checks is not free
How much?
Online banking is included
Online billpay is included

9. Checking Accounts (cont’d)
Adult Accounts
Requirements for the account:
Age- 18+
Co-signer: No
Minimum deposit required to open account is $50 for checking ($25 for savings)
No Minimum credit score needed
Debit card is included
The minimum balance needed varies by account

10. Checking Accounts (cont’d)
Adult Accounts
Fees:
Monthly service fees vary by account
W2S $12
waived with $2000 daily balance, 10 debit card transactions or $750 Direct Deposit each month
Value Checking $9 MSF
$7 with online statements- waived with $500 Direct Deposit per month or $1500 Daily Balance
Overdraft/ Bounced Check fee $35 per item per day (Max of 4 items per day)
Interest varies by account
Ordering checks is not free
How much?
Online banking and billpay are included

11. Savings Accounts Interest vs. No interest Different types of accounts
Interest rates varies by account and balance.
Current rates are 0.01% to 0.45% for Savings accounts
Interest is compounded at a variable rate
Interest is compounded daily, but paid monthly
Different types of accounts
Way2Saving Savings is a savings account that is free to minors
All others have balance requirements
What happens when you go below your minimum balance?

12. Savings Accounts Online banking/billpay is free Fees vary by account
Can you pay bills from a savings account
Fees vary by account
No debit cards: savings accounts get ATM/Cash card
Visa debit cards are only available with Checking accounts