Wells Fargo PMA ATM Fees?

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Wells Fargo PMA ATM Fees?

Postby Tristrex » Fri Aug 20, 2010 1:46 pm

After seeing Wells Fargo's PMA account recommended here over the last few months, I've finally opened up my own account. However, it seems that the language for ATM fees on the website is slightly different from what I've seen quoted here.

From the Wells Fargo website:
No Wells Fargo access fee for up to two non-Wells Fargo ATM cash withdrawals (U.S. and International) per statement cycle; waived if PMA qualification balance is $100,000 or more


I called customer service and asked about this and they said I'd still be liable for any fees that the ATM charges. The representative wasn't able to tell me for sure which banks would charge fees, but said that the credit union near her didn't. Does anybody have any other real-world experience with this?

After searching I've seen a number of posts saying Wells Fargo ATM use is free regardless, but that doesn't seem to match what is advertised on their site. I'd really like to be able to use the PMA checking as my checking account as well, it would be a shame to have to open yet another account to ensure I have free ATM transactions all the time.
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Postby livesoft » Fri Aug 20, 2010 2:23 pm

We've never paid any ATM fees with WF PMA including overseas. We have 5 or 6 WF ATMs within 5 miles of our house, so we tend not use non-WF ATMs, but have done so maybe 4 times a year usually on vacation. We have more than $100K in our accounts. I actually don't see a reason why you would need more than 1 ATM transaction per month locally anyways.

I think there may be state-to-state differences in the WF PMA benefits.
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Postby PaddyMac » Fri Aug 20, 2010 2:37 pm

We have a PMA account, but also have lots of Wells Fargo around the southwest so I've never had to use a non-WF ATM.

Is there a lack of WF ATMs near you?

If there is one particular ATM at a different bank you really want to use because it's ultra convenient, why not withdraw some cash and then check your statement. It won't cost much to test a few of them out.
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Postby wander » Fri Aug 20, 2010 2:54 pm

I have WF checking account to qualify free trades at Wells Trade. There is no WF bank within 60 miles from my home. WF bought Wachovia previously, but the closest Wachovia bank is still about 20 miles away. I stay with PNC for regular checking and Schwab free checking for free ATM.
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Postby Tristrex » Fri Aug 20, 2010 3:11 pm

PaddyMac wrote:Is there a lack of WF ATMs near you?

If there is one particular ATM at a different bank you really want to use because it's ultra convenient, why not withdraw some cash and then check your statement. It won't cost much to test a few of them out.


I'm in NY/MA, so no Wells Fargo or Wachovia anywhere around me.

That's probably what I'll end up doing, can't hurt to try.
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Re: Wells Fargo PMA ATM Fees?

Postby natureexplorer » Fri Aug 20, 2010 3:48 pm

Tristrex wrote:Does anybody have any other real-world experience with this?
Yes.

I have the same experience as livesoft with US ATMs. No fees charged by Wells Fargo and ATM provider fees are reimbursed. The number of ATM provider fees reimbursed per month varies depending on your balance.

However with international ATMs my experience varies from livesoft's. While there are also no fees charged by Wells Fargo, the ATM provider fee is not reimbursed.

If you are looking for reimbursement of international ATM fees, I believe Schwab has the best deal.
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Postby tobyjoe » Mon Aug 23, 2010 4:48 pm

If you have more than 100k then Wells doesn't charge you for your first two non-Wells ATM transactions (the non-Wells bank might impose a surcharge)

If you have less then 250K a non-Wells ATM surcharge is not reimbursed.
If you have >= 250K a non-Wells ATM surcharge is reimbursed.

If you look at foot note 7 here:
https://www.wellsfargo.com/checking/

WellsFargo wrote:Surcharges imposed by non-Wells Fargo ATM owners or operators may apply. Domestic ATM surcharges reimbursed with qualifying combined PMA relationship balances of $250,000 or more. (US only).
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Postby Tristrex » Mon Aug 23, 2010 5:03 pm

tobyjoe wrote:If you have more than 100k then Wells doesn't charge you for your first two non-Wells ATM transactions (the non-Wells bank might impose a surcharge)

If you have less then 250K a non-Wells ATM surcharge is not reimbursed.
If you have >= 250K a non-Wells ATM surcharge is reimbursed.

If you look at foot note 7 here:
https://www.wellsfargo.com/checking/

WellsFargo wrote:Surcharges imposed by non-Wells Fargo ATM owners or operators may apply. Domestic ATM surcharges reimbursed with qualifying combined PMA relationship balances of $250,000 or more. (US only).


Well that would answer it, thanks! Too bad the customer service rep didn't know this when I called, would have saved you all the trouble :)
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