The goal of the Greenhouse initiative is to appeal to a broad base of consumers who might struggle to budget on their own.

A bank account that doesn't require overdraft fees or a trip to your local branch seems like a dream.

Wells Fargo & Co. (WFC - Get Report) is making it a reality. The San Francisco-based bank announced Thursday its new line of mobile banking accounts called "Greenhouse."

Greenhouse, which will roll out as a standalone mobile app in the first half of 2018, will offer accounts that can be opened without going to a bank branch. Users will also never incur an overdraft fee, as charges that would overdraw your account will simply not be processed, Wells Fargo said.

The goal of the Greenhouse initiative is to appeal to a broad base of consumers who might struggle to budget on their own. It offers artificial intelligence tools to track spending plus access to Zelle peer-to-peer payments. The app utilizes two accounts - one linked to a debit account and another dedicated to spending and bills.

"Combining personal finance management tools with Wells Fargo banking, the Greenhouse experience will help consumers pay bills on time, spend confidently and start to build a savings cushion," Wells Fargo said in a statement.

Wells Fargo stock gained 0.27% to $55.97 in late-morning trading Thursday.

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