More Wells Fargo & Co. customers will be charged a monthly fee on checking accounts as the San Francisco company expands a pilot program aimed at generating more revenue from retail banking.

Starting this spring, the company will begin charging customers in six additional states a monthly $7 fee for its Essential Checking account unless those customers maintain a minimum balance or make monthly direct deposits, CNNMoney reported Thursday.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.