![]() Zelle is standard on adult bank accounts but isn’t as common in the teen checking world. So Clear Access Banking is a legitimate alternative to traditional adult banking. A low credit score or previous banking issues (such as repeatedly overdrafting your account) won’t necessarily disqualify you. Clear Access Banking has relaxed qualification standards. So it’s a good choice for college students and recent college graduates as well. But there’s technically no maximum age, and the account has no monthly maintenance fee for primary account holders under 25. The minimum age to apply for Clear Access Banking is 13, which is standard for teen checking accounts. Wells Fargo Clear Access Banking has some key benefits - and downsides - worth noting upfront. What Sets Wells Fargo Clear Access Banking Apart? But it lacks some important banking features, including comprehensive overdraft protection and rewards or interest on balances. It also has relaxed underwriting standards that make it appropriate for older applicants with checkered credit or banking histories. People 17 and older can open an account on their own.Ĭlear Access Banking has relatively few fees, including no monthly maintenance fee for account holders 24 and under and no withdrawal fees at 12,000-plus Wells Fargo ATMs. Anyone 13 or older can apply, though kids aged 13 to 16 must have an adult co-owner on the account. Wells Fargo Clear Access Banking is a checking account designed for teens and young adults. What Is Wells Fargo Clear Access Banking? So whether you’re a parent looking to set your teen up with their first bank account or a recent college grad ready to get your financial life in order, Clear Access Banking might work for you. With loose application standards, it also works as a second-chance bank account for older adults with past financial troubles. Unlike most of its competitors, it’s designed for older teens and young adults as well, with a wider range of useful banking features and a monthly fee waiver through age 24. Good thing Clear Access Banking isn’t only a kids’ bank account. It does make our list of the best bank accounts for kids, but only just. ![]() If the surety bond is not provided, the waiting period applies.Wells Fargo Clear Access Banking is not the best kids’ bank account on the market. Surety bonds are subject to the insurance carrier's underwriting requirements before issuance. The cost of a surety bond varies depending on the amount of the bond and the insurer used. This can be purchased through Wells Fargo's approved insurance carrier or through an insurance carrier of the customer's choice. The waiting period can be avoided with the purchase of an acceptable surety bond. In addition, for cashier's checks over $1,000.00, the waiting period before the stop payment and reissuance of an outstanding cashier's check may be processed is 90 days (30 days in the state of Wisconsin and 91 days in the state of New York). As a condition of stop payment and reissuance, Wells Fargo Bank will impose a $31.00 stop payment fee and require an indemnity agreement. A stop payment and reissuance can only be completed within a branch location. If the cashier's check is lost, stolen, or destroyed, you may request a stop payment and reissuance. Outstanding Cashier's checks are subject to state or territorial unclaimed property laws. We may refuse to process any request for a foreign exchange transaction. We're your arms-length counterparty on foreign exchange transactions. Foreign exchange markets are dynamic and rates fluctuate over time based on market conditions, liquidity, and risks. Different customers may receive different rates for transactions that are the same or similar, and the applicable exchange rate may be different for foreign currency cash, drafts, checks, or wire transfers. The exchange rate we provide to you may be different from exchange rates you see elsewhere. The applicable exchange rate does not include, and is separate from, any applicable fees. The markup is designed to compensate us for several considerations including, without limitation, costs incurred, market risks, and our desired return. The exchange rate used when we convert one currency to another is set at our sole discretion, and it includes a markup. In addition to any applicable fees, we make money when we convert one currency to another currency for you.
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