Is Wells Fargo shutting down accounts in June? What we know

Jun 03, 2025 03:40 AM IST

Wells Fargo can mark your account as “dormant” if there’s been no real activity for over 16 months.

Wells Fargo is closing inactive accounts, and it may start affecting more customers in June. If your account hasn’t had any activity for 16 months or more, it could be shut down—possibly without warning—and your money could be handed over to the state.

Wells Fargo policy isn’t new, but it’s gaining attention in 2025 because more people are being impacted as the bank moves forward with its nationwide effort.(Reuters)

This policy isn’t new, but it’s gaining attention in 2025 because more people are being impacted as the bank moves forward with its nationwide effort. June is when many of these closures may begin or speed up.

Under this rule, Wells Fargo can mark your account as “dormant” if there’s been no real activity for over 16 months. Once that happens, the bank can start a legal process called escheatment, where the remaining money is sent to the state as unclaimed property.

What counts as an inactive account?

If you haven’t made a deposit, transfer, or withdrawal in the last 16 months, your account may be flagged. Automatic payments, fees, or interest don’t count.

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Can Wells Fargo close your account without notice?

Usually, the bank will try to notify you. But legally, they don’t always have to. So, it’s possible for someone to lose access to their funds without even knowing the account was at risk.

How to prevent your account from being closed

You can stop this from happening by doing something simple:

Make a small deposit

Use your debit card

Any of these actions reset the inactivity timer and show that your account is still active.

Who should be most concerned in June?

If you use your Wells Fargo account only for savings, emergencies, or occasional use, check it now. June is a key month when more account closures may roll out. Don’t assume you’ll get a heads-up—take action early.

Don’t wait for a warning

Many customers are being caught off guard. Thousands of accounts may be affected in June. Relying on a notice from the bank could be risky. It’s better to manage your accounts yourself and stay informed directly through official Wells Fargo updates.

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