Wells Fargo has begun strictly enforcing a longstanding policy that could lead to the abrupt closure of countless accounts. This policy targets dormant or inactive accounts, meaning you might suddenly lose access to your money if you haven’t used your account in a while.
If you haven’t made a deposit, withdrawal, or transfer for more than 16 months, Wells Fargo can classify your account as dormant and close it. Once they shut it down, the remaining funds are transferred to the state as unclaimed property. Recovering this money is possible—but it can be a time-consuming process.
Why Wells Fargo’s dormant account enforcement is catching so many customers off guard right now
With 2025 in full swing, countless Americans find themselves unaware that a seldom-used checking or savings account might be on the brink of closure. Some people set up emergency funds or secondary accounts for specific purposes and then forget about them. Wells Fargo’s recent, more rigorous application of its inactivity policy has left many customers stunned when their accounts disappear—along with easy access to those funds.
Are you wondering if it could happen to you? Even small balances, infrequent logins, and minimal account movement could mean your account is at risk. A monthly bank fee or automatic service charge doesn’t count as “customer-initiated” activity, so it’s worth taking a quick moment to check.
Steps every Wells Fargo account holder should take to avoid losing funds soon
Preventing closure isn’t complicated. If you’re worried about a dormant account, you can:
- Make a small deposit or withdrawal
- Transfer money in or out
- Log in to your online banking portal
- Use your debit card once in a while
You’ll also want to confirm that your contact information—address, phone, and email—is correct. Wells Fargo may send advance notices, but those alerts won’t help if they go to an old address or inactive email. Below is a quick reference table for recommended actions:
| Activity | Frequency recommended |
|---|---|
| Make a small deposit or withdrawal | Every few months |
| Log in or check account balance | At least once a quarter |
| Update personal contact information | Whenever you move or change phone |
It’s a good idea to follow these steps for any rarely used account, whether at Wells Fargo or another institution.
Understanding escheatment and the process of retrieving money from state authorities
When Wells Fargo closes an inactive account, it starts what’s called the escheatment process. The bank sends your remaining balance to the state, which holds it as unclaimed property until you file a claim. While your money isn’t gone forever, each state has its own rules for claiming these funds, and the paperwork can feel daunting.
If you discover your account is already closed, you can search state databases using your name and past addresses. Once you locate your unclaimed property, provide proof of identity and ownership. It takes a bit of time, but the sooner you start, the sooner you’ll get your money back.
In short, don’t let inactivity jeopardize your savings. Check your account regularly, keep it alive with small transactions, or consider closing it yourself if you no longer need it. A little proactive effort today could save you the hassle of navigating state claims later.