(Reuters) – Wells Fargo & Co said on Friday it expects to refund some servicing fees to customers who may have been confused about how to avoid monthly charges.
The San Francisco-based bank said in a securities filing it was reviewing past disclosures to consumers about mininum debit card activity requirements to waive certain monthly fees.
Percent - Customers - Fees - Accounts - Requirements
Roughly 90 percent of customers successfully avoid paying servicing fees on checking accounts by meeting certain requirements, said Wells Fargo spokesman Jim Seitz.
Consumers can get waivers for the monthly fee by connecting a qualifying direct deposit or keeping the a minimum daily balance among other things.
Bank - Changes - Guidelines - Waiver - Debit
The bank has made changes to address guidelines for how to get a waiver through debit card use that had the potential to be confusing.
“We have made improvements in how we communicate all of the ways customers qualify for a monthly service fee waiver,...
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