Wells Fargo cancels pilot of monthly fee for debit cards

Published 5:00 pm Wednesday, November 2, 2011

SAN FRANCISCO – Wells Fargo is cancelling its planned five-state pilot of a monthly $3 fee for users of its debit cards as a response to customer feedback the company has received.

Customers in Oregon, Washington, Georgia, Nevada and New Mexico will not be charged the monthly debit card activity fee, which had been scheduled to appear on bank statements starting Nov. 15.

“As we adjust to changes in our business, we will continue to stay attuned to what our customers want,” said Ed Kadletz, head of Wells Fargo’s Debit and Prepaid Cards. “

Earlier this fall, Bank of America caused considerable controversy with its plans to charge a fee for debit card use. It has since abandoned that plan after widespread protests from customers.

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