UPDATED at 11:15 a.m. with comments from Wells Fargo:

Would you pay $36 a year to access money in your checking account with your debit card?

Starting Oct. 14, Wells Fargo Bank will begin charging most Oregon and Washington checking account customers a $3 a month Debit-Card Activity Fee. The fee will appear in statements beginning Nov. 14, the bank said.

says the fee applies to any monthly statement cycle in which a debit card linked to a checking account is used to make a payment or purchase (ATM withdrawals don't count). Wells Fargo's PMA checking account Platinum Debit Cards will be exempt from the fee.

Bank spokesman Tom Unger said other accounts also will be exempt, including savings accounts, college and teen checking accounts and several types grandfathered accounts and those held by members of the military. Call your banker if you're concerned about the fee, Unger said.

A bank spokesperson characterized the fee as a test

.



"At this point it’s too early to speculate if the test will ever expand to other states," Unger told It's Only Money today. The test also includes customers in Georgia, New Mexico and Nevada.





The fee likely comes as a result of the federal cap on debit-card

imposed by Congress and the Federal Reserve.

and will cost big banks millions in lost revenue. "This new $3 fee will not cover that loss," Unger said.

CreditCards.com reported that Chase tested a $3 monthly fee in a small market in February. Chase spokesman Tom Kelly says that market is Wisconsin and is confined to one of four kinds of checking accounts. The test has not been expanded, he said.

Spokespeople for U.S. Bank and Umpqua Bank say neither institution has tested or has plans to implement debit-card use fees.

It's Only Money wonders how this fee will affect Wells Fargo's promotion during time outs at Trail Blazer games. Will fans hold up their Wells Fargo bank card along with three $1 bills?

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