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If you're a Wells Fargo customer, especially one with a dormant or rarely used account, you need to pay attention: Wells Fargo is actively closing inactive accounts starting June 2025. This policy isn’t new—but enforcement is ramping up, and many people could lose access to their money without warning.

In this detailed guide, we’ll break down what’s happening, why it matters now, and what you should do to protect your funds.

Wells Fargo is closing inactive accounts
Wells Fargo is closing inactive accounts

What’s Actually Happening?

Wells Fargo has confirmed that it is closing inactive bank accounts that show no customer-initiated activity for more than 16 months. Starting in June 2025, this effort will expand nationwide, potentially affecting thousands of customers.

Once an account is flagged as “dormant,” the bank can begin a legal process called escheatment, where any remaining funds are sent to the state as unclaimed property.

This is part of standard financial industry practice, but Wells Fargo is now applying it with more consistency and at a larger scale.

What Counts as an Inactive Account?

Many customers mistakenly assume that as long as money is in the account, it's safe. That’s not true.

An account is considered inactive if:

  • You haven’t made a deposit, withdrawal, or transfer for 16 consecutive months.

  • You haven’t initiated any login or activity via online/mobile banking.

  • No activity has occurred directly by you—automated deposits, interest accrual, or monthly fees do not count.

Simply having money in your account is not enough. If you don’t actively use it, the account may still be closed.

What Is Escheatment?

Escheatment is the process by which financial institutions are required by law to turn over unclaimed or abandoned property (such as money in dormant accounts) to the state.

Here's how it works:

  1. Wells Fargo flags the account as dormant after 16 months.

  2. If no action is taken, the account is closed.

  3. The funds are then sent to the state’s unclaimed property division.

  4. You’ll need to file a formal claim to retrieve them.

This process varies by state, but it can take weeks or even months to get your money back. You’ll need identification, proof of ownership, and sometimes additional documentation.

Why Is June 2025 Important?

Although Wells Fargo’s dormant account policy has existed for years, June 2025 marks a key turning point. The bank is moving forward with a nationwide enforcement phase, which means a large number of inactive accounts could be affected all at once.

This is why many customers are only now hearing about it—despite the policy being in place previously.

Will You Be Notified Before Your Account Closes?

Wells Fargo says it “typically” tries to notify customers by mail or email. But:

  • Notifications may be sent to outdated contact information.

  • The bank is not legally required to notify you in every case.

  • If your account was opened years ago and you haven’t updated your details, you might not receive anything at all.

This means your account could be closed without your knowledge—and your funds handed over to the state.

How to Keep Your Account Active

Preventing your account from being closed is simple. Here’s what to do:

1. Make a Small Transaction

Transfer a small amount, make a payment, or withdraw a few dollars. Anything initiated by you counts.

2. Use Your Debit Card

Even a small purchase will reset the dormancy timer.

3. Log In Online or Via Mobile App

Accessing your account digitally also helps. Make it a habit to log in once every few months.

4. Update Your Contact Info

Make sure Wells Fargo has your current phone number, email, and mailing address. This ensures you’ll receive any important notices.

Set a calendar reminder every 12 months to check your account status. It’s a simple way to avoid headaches.

Who’s Most at Risk?

The customers most likely to be affected are those who:

  • Opened a savings account for emergencies but rarely touch it.

  • Use Wells Fargo as a secondary bank for backup funds.

  • Have old accounts opened during school or early employment.

  • Hold accounts for relatives (such as minors or seniors) that aren’t regularly monitored.

If any of these describe you, it’s time to act.

What If My Account Is Already Closed?

If your account has already been shut down, you can still recover your money by going through your state’s unclaimed property process:

1. Search the State Database

Use your name and last known address at sites like MissingMoney.com or your state’s unclaimed property site.

2. File a Claim

Submit identification and verification documents. The process is free but can take time.

3. Follow Up

Processing times vary by state. Some may take a few weeks; others could take months.

Final Checklist: How to Protect Your Wells Fargo Account

Before June passes, take these steps:

  • Make a transaction, even a small one

  • Log in online or through the mobile app

  • Update all your contact information

  • Inform family members with inactive accounts

  • Set reminders for future activity

Bottom Line

Wells Fargo’s dormant account shutdowns are not a glitch—they’re part of a bank-wide policy being more aggressively enforced starting June 2025. If you haven’t touched your account in over a year, your money could be at risk of being handed over to the state.

Taking just a few minutes today to log in, make a transaction, or update your info can save you months of frustration later. Don’t wait to find out your account has been shut down when it’s too late.

Act now to keep control of your money.