Consumer complaint received 2026-04-24 00:00:00
Product: Checking or savings account — Checking account
Issue: Problem caused by your funds being low — Non-sufficient funds and associated fees
Company: WELLS FARGO & COMPANY
State: MN

Complaint narrative:
XX/XX/year> My initial complaint with the CFPB was dated XX/XX/year> regarding changes made by Wells Fargo to small business accounts, including raising the minimum balance requirement from {$500.00} to {$2000.00} and increasing the monthly fee to {$15.00} ( previously {$10.00} ), even if the account drops below that threshold for a single day. Please reference Case # : XXXX. I am still waiting for a clear explanation of something that, frankly, does not make sense to me as a small business owner : How do you justify increasing the minimum balance requirement from {$500.00} to {$2000.00} on small business accounts? That is a 300 % increase in required idle capital just to avoid fees. For many small businesses, that is not a minor adjustmentthat is money that is actively needed to operate the business. And the part that makes even less sense is this : If a business dips below that threshold for even a short period, the full monthly fee is still charged. That means normal cash flow activitypaying monthly expenses, paying vendors, seasonal fluctuationscan trigger penalties. This is not banking support. It is a system designed to profit from normal volatility in small business cash flow. To understand the scale of this, using publicly available figures that Wells Fargo serves millions of small business customers, even a conservative illustration shows the impact : If millions of accounts are now required to maintain {$2000.00} instead of {$500.00}, that represents billions of dollars ( my conservative calculations estimate it to be {$9.00} XXXX -- but, please, correct me if I'm way off ) in small business working capital held idle to avoid fees. And if even a portion of those accounts fall below the threshold in a given month, the resulting fees scale into tens of millions of dollars monthly. Again, annually, we're talking over {$400.00} XXXX. This is not theoretical. It is simple math applied across a national customer base. So my questions remain very direct : Why was {$2000.00} chosen as the new minimum for small business accounts? What benefit does that level provide to small business customersnot the bank? Why is a temporary balance dip treated as justification for a full monthly fee? How is this structure consistent with supporting small business stability? From where I sit, this policy forces small businesses to keep significantly more money idle just to avoid fees. For me, Im not able to use {$10000.00} out of my business accounts. On top of that, being penalized when I use that money in the normal course of operating my business. I am requesting a clear, direct explanation of the reasoning behind this structure. I do not need a reiteration of policy and compliance as seen in the attached letter. Sincerely, XXXX XXXX XXXX XXXX, MN XXXX

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation