How Much is a Wells Fargo NSF Fee?

The term NSF fee stands for non-sufficient funds. This fee program is used by multiple different banking institutions, but you might have recently been charged a Wells Fargo NSF fee and are curious about how this applies to you.

Non-sufficient funds is the term officially used when the holder of a checking account overdraws their account because there is not enough money at the time when a check or debit transaction is presented against it. This means that the bounced check is then returned to the owner of the account unpaid – and the account owner now has to pay a non-sufficient funds fee.

Therefore, in addition to needing to cover the original amount due on the item that did not clear, you’ll have to pay your bank an NSF fee for the service of them declining that check.

How Much Does Wells Fargo Charge for an NSF Fee?

All banks and credit unions charge NSF fees, including Wells Fargo. Your Wells Fargo NSF fee will depend on your specific location. Visiting the Wells Fargo website is the best way to find local fees – just enter your zip code to determine what NSF and overdraft services apply to you.

To note, even if you have not specifically opted in to an overdraft program you can still have an NSF fee charged to your account. This is because an overdraft fee and an NSF fee are not the same thing, however, both may still impact your credit score.

Overdraft is a term that refers to charges presented from a debit card or some other form of payment against your account where the bank covers the costs, whereas NSF fees are often charged in relation to a check. You can select whether or not you want to be included in an overdraft program, but not an NSF program. The fee for returning items for insufficient funds is usually $25 to $35 per item.

According to the Wells Fargo website, they do not charge any more than three overdraft or non-sufficient fund fees per business day for consumer accounts and eight per business day for business accounts. This means that significant NSF fees could build up.

What is the Overdraft Rewind Program?

With this free Wells Fargo account feature, if the bank receives an electronic direct deposit by 9:00 A.M. local time, the funds will automatically be included in re-evaluating the previous day’s transactions that led to the returned item or NSF fee. The bank will then calculate a new balance that includes the pending direct deposit and waive any fees for transactions that were covered by your new direct deposit.

This program is specific to Wells Fargo, so contact them for more details about how it works.

What if I Was Wrongly Charged Multiple NSF fees?

One of the most common problems shared by consumers working with Wells Fargo and other financial institutions is the charging of multiple NSF fees on a single transaction. If you have been hit with multiple NSF fees for one transaction, you could have grounds to pursue legal action against the company.

Scheduling a consultation today with an attorney can help define if you have a case. Top Class Actions can help you to find an attorney to assist you with filing a lawsuit when you have been charged multiple NSF fees when you should have only been charged one or none, or assist with other deceptive bank fee programs.

Join a Free NSF Fee Class Action Lawsuit Investigation

You may qualify to join this NSF fee class action lawsuit investigation if you were unfairly charged NSF fees by one of these banks:

• Bancfirst
• Bell Bank
• Busey Bank
• Center Bank
• CenterState Bank
• Flagstar Bank
• Glacier Bank Wings Federal Credit Union
• Hudson Valley Credit Union
• Midwest One
• NBT Bank

Learn More