Get the Scoop on Wells Fargo's 'Dormant' Accounts: Here's What You Need to Know
Wells Fargo to Close Accounts in June: Latest Info Revealed
Want the lowdown on the latest banking news? Keep reading!
Wells Fargo's Dormant Account Policy: A Fresh Spin on an Old Rule
You may be surprised to know that, as of 2025, if Wells Fargo doesn't see any real activity in your account for over 16 months, it might be considered dormant. This could potentially lead to your account being closed—and your hard-earned money handed over to the state—with little to no warning.
Yeah, you heard that right. This isn't a fresh policy for the bank, but it's making waves now because more folks are getting hit due to the bank's nationwide initiative. Summer's coming, and many closures might be on the horizon, starting or speeding up in June.
What's an Inactive Account?
Basically, if you haven't made a deposit, transfer, or withdrawal for the last 16 months, warned the bank, your account could be flagged. Automated payments, fees, and interest don't count.
Can Wells Fargo Shut Down Your Account Without Warning?
Usually, they'd give you a heads-up, but legally, they don't always have to. That means you could lose access to your funds without even knowing your account was at risk.
Prevent Your Account from Being Closed: Simple Steps to Stay Afloat
The good news is you can take charge and avoid this headache. Just log in to your account, make a small deposit, or use your debit card. Any of these actions will reset the inactivity timer and show your account's still active.
Who Should Keep a Closer Eye?
If you mainly use your Wells Fargo account for saving, emergencies or occasional use, better check it now. June is the month when more closures may go down, so don't bank on a warning—take action early.
Don't Lazy Your Way Through
Sadly, thousands of customers are getting blindsided. For your own financial safety, stay proactive. Instead of relying on notifications from the bank, keep up-to-date with official Wells Fargo updates.
- Fun Fact: Automatic charges, fees, or system-generated activities don't count as transactions that would keep an account from being classified as inactive.
Also Read: SSI Payments Scheduled for June 2025: KEY DATES to Keep in Mind
- The policy regarding dormant accounts at Wells Fargo, which could lead to account closures and the transfer of funds to the state, has gained attention due to a nationwide initiative.
- If you haven't made a deposit, transfer, or withdrawal in the last 16 months and haven't informed the bank, your account might be flagged as inactive.
- While Wells Fargo typically provides a warning before closing accounts, they are not legally obligated to do so, meaning you could lose access to your funds without prior notice.
- To prevent your account from being closed, log in to your account, make a small deposit, or use your debit card, as these actions will reset the inactivity timer and show that your account is still active.
