Aged Bank account but now they are charging fees

[zaphodX]

I have an account with Wells fargo that is 17 years old and is the oldest account in my set of bank accounts. It was great earlier, but recently they have been charging me fees for every little thing.

I don't really need to maintain that account as it only holds minimum balances. Lately, I have been thinking about closing it out completely. However, I have read that age of the account matters and I should keep it open with minimum balances in there. I am getting tired of the fees and constant haggling with the customer services over the charges.

So, what is the truth behind the aged bank accounts? And, should I close that account?

[snafu]

Unless making a large purchase is imminent, there is no downside to closing out inactive accounts. Your FICO score will slip a tiny bit but will recover quickly. We are seeing lots of formerly free services being dropped or continued with fees. We believe they will soon charge for intermittent deposits. I'm offsetting my feelings by buying bank stock and changing accounts so that I'm using nearly all the services I'm paying for. It's all very confusing

[krantcents]

Have you discussed this with the branch manager. I have had fees waived based on my relationship. Yes, age of the relationship matters! I would ask the manager "what do you need to do to avoid fees?" If they say nothing, you can always close the account.

As background, I have had a banking relationship for 40 years and have an interest bearing checking account and pay no fees of any kind for anything. I have checks printed for free, free safe deposit box, free Am Ex checks etc. My only deposits are direct deposit of our(wife & mine) paychecks.

Good luck.