Fee To Cancel Wells Fargo Brokerage Account
If you have a WellsTrade account or another investment account with Wells Fargo Advisors and want to close it, this guide will walk you through the process. Below we explain how to shut down the account and also mention an alternative option.
First, You Need to Sell Everything
Using the standard approach to close a WellsTrade investment account requires liquidating all positions. Short positions must be covered and long positions must be sold. In other words, every security in the account must be converted into cash before proceeding to the next step.
Second, You Need to Withdraw the Cash Balance
After the WellsTrade account contains only cash, the balance must be withdrawn. There are several ways to move the money out. Available methods include wire transfer, ACH transfer, and bill pay. To start a withdrawal using any of these options, go to the Transfer & Pay tab at the top of the Wells Fargo website and choose the method you want to use. In some cases, you may first need to link an external bank account by following the on-screen instructions.
Sometimes there may be a minimum withdrawal requirement. If this applies, Wells Fargo can send a paper check for the remaining balance to the mailing address on the account. To request this option, you must call customer service because there is no online tool to order the check. During the same phone call, you can also request the account closure. Once a Wells Fargo investment account is closed, it cannot be reopened.
Broker Promotions
If you are replacing Wells Fargo with another firm, check for new accounts incentives.
Here is the list of current deals - Broker Promotions »
Third, It’s Time to Close the Account
If you did not request the closure while calling about the paper check, you will need to close the account separately. Although there is an option in the mobile app and on the website to close certain accounts, it generally cannot be used to close an investment account.
To close a WellsTrade account that already has a zero balance, call 1-800-266-6263. To close an Intuitive Investor account (Wells Fargo’s robo-advisor account), call 1-855-283-5567.
Remember the Internal Revenue Service
It is a good idea to speak with a qualified tax professional before withdrawing funds from an IRA or selling securities in a taxable account. Either action could generate a tax form during the next tax season.
Wells Fargo's Top Competitors
See who are Wells Fargo's top competitors.
Close Wells Fargo Brokerage by Transfer
If the steps above seem inconvenient, there is another option for closing an investment account. A full outgoing ACATS transfer will also close the account. The ACATS electronic network moves the account from Wells Fargo to another brokerage firm. After the transfer is completed, the account will automatically be closed at Wells Fargo.
If your goal is simply to turn everything into cash and withdraw it, the first method will likely be the better choice. But if you prefer not to sell your investments, transferring the account may be a better option.
To start an ACATS transfer to another brokerage firm, you must contact the receiving firm and submit the transfer request there. Many broker-dealers provide simple online forms to complete this process. You will need your Wells account number and the account registration type, such as individual, joint, or IRA. The transfer must be a full transfer for the account to be closed. A partial transfer will not close the Wells Fargo account.
Before submitting the ACATS request, a few preparations may be required. For example, some mutual funds held at WellsTrade or Wells Fargo Advisors may not be accepted by the receiving firm. It is best to confirm this with the incoming broker before initiating the transfer. Option contracts that expire within a week should also be closed before submitting the transfer request.
Closing Other Accounts with Wells Fargo
In addition to a self-directed WellsTrade account, robo accounts and full-service brokerage or advisory accounts through Wells Fargo Advisors can usually be closed using the same methods described above. The same general requirements apply. If you choose the standard method, the closure request will typically need to be made by phone.
A Wells Fargo checking or savings account can usually be closed online or through the mobile app. As with investment accounts, the balance must be $0.00 and there must be no pending transactions. On the website, the account-closing link is located under the Accounts tab in the account-management section. In the mobile app, go to the Menu area and select Account Services to find the option.
Wells Fargo Brokerage Closing Fee
In certain situations, Wells Fargo may charge a fee for closing or transferring an investment account. For example, Wells Fargo Advisors may charge $49.95 to close an IRA. A full outgoing account transfer can carry a similar fee.
Updated on 3/7/2026.
Chad Morris is a financial writer with more than 20 years experience
as both an English teacher and an avid trader. When he isn’t writing
expert content for Brokerage-Review.com, Chad can usually be found
managing his portfolio or building a new home computer.
|