Wells Fargo Enhances Benefits for Campus Card
Wells Fargo has updated the benefits for their Campus Card, a popular debit card for college students. The Campus Card acts as an ATM debit card and a campus ID card in one, and links directly to a Wells Fargo Everyday Checking account.
The enhanced features include one overdraft fee waiver each month. A study from 2015 showed 39% of college students incurred at least $67 in overdraft charges each year, and 11% paid an average of $710 in fines. This fee waiver could eliminate significant financial stress for students.
The Campus Card can now be used at non-Wells Fargo ATMs four times per month without any out-of-network fees from Wells Fargo. The transaction may be subject to a fee from the ATM provider, but not from Wells Fargo.
Cardholders who enroll in overdraft protection will no longer have to pay a fee when transferring money to cover their overdrafts. As long as there is a savings account linked to the checking account, Wells Fargo can pull money from the savings account to cover the insufficient funds.
Wells Fargo will also cover the fees for one incoming domestic or international wire each month. This is particularly beneficial for students attending college in another state or those studying abroad.
Account holders between the ages of 17 and 24 do not have to pay a monthly service fee for their Wells Fargo Everyday Checking accounts.