Wells Fargo's brokerage unit is set to offer up to 100 free online trades a year to customers with at least $25,000 in balances at the firm.
The free stock trading lure tops an offer made last autumn by rival Bank of America, which offered 30 commission-free trades to customers willing to park $25,000 on deposit.
By contrast, customers with Wells Fargo will be able to count loan balances (inlcuding ten per cent of mortgage borrowings) and money in brokerage accounts toward the required minimum.
Qualifying customers who execute 100 commission-free online trades within a year's time will pay a low $5.95 fee for each subsequent online trade. Each year, the free offer automatically renews, and the 100 commission-free trades offer applies to each WellsTrade account the customer has.
Large brokerages in the US are being forced to pare charges back to the minimum in the face of free deals from upstart online firms such as Zecco.com and deep discounters like TradeKing and SogoInvest.