Wells Fargo Accounts.

[MPHSystems]

Exactly, all stupid shit!

I have my mortgage with them, unfortunately. Rate is 2.875% so I kinda feel like I’m somewhat winning

Standard WF scam, they have been doing it since I was in HS. Every few years they get fined a few $M, promise to never do it again but never stop doing it.

Joe shmoe gets $1k direct deposit paycheck every 1st and 15th. Joe’s rent is $750

on the 20th Joe’s balance is $400

5/25 joe buys Starbucks $8
5/25 joe buys del taco $11
5/27 Vons $120
5/28 movies $60
5/29 gas $100
6/1 pay +1,000
6/2 rent
at midnight, WF runs the rent and overdrafts, then all his previous charges and ding him 6 X $30 overdraft fees =$180 and then process his payroll a few days later.

They are absolute pond scum and just because they didn’t do it to you doesn’t make it OK

 

[Gramps]

Cliff notes about Wells Fargo and me. In 2006 I became chairman of our fire district. the district used Wells Fargo for all of their banking. I used Wells Fargo for my personal stuff. After I became the primary signer on the district accounts Wells Fargo, on their own, decided to merge my personal accounts with the fire districts accounts. Friggin mess and the State Auditor was PISSED. It took a couple of years to straighten out the mess.

 

[bowtiejunkie]

I've been with WFB since 1994. I've also used a credit union since 2001. WFB definitely has a long history of unethical behavior and lack of integrity. I tried to get away from them but landed a mortgage with them in 2006 and another in 2020. They haven't done me personally wrong, but wish they'd quit their unethical ways. I like there branch network and there online/app banking. Opened up a WellsTrade account last year and they were super helpful with that.

I've been outside my CU's area since 2005 and it became inconvenient to use remotely, so I use WFB as primary now. The CU's fee schedule is worse than WFB's.

I use several financial institutions rather than one. Each one plays a different role.

 

[MeCasa16]

Wells Fargo sued for ignoring fraud red flag and allowing $30k scam


https://mol.im/a/13038931

This bank is constantly in the news for robbing its own customers and being absolutely trash… Today is another day, and today we have another story…

 

[lbhsbz]

No offense, but WTF were you thinking?

He's probably thinking you should read the 5 words in front of the part you quoted?

 

[v6toy4x]

All 3 of my pensions

WF so long too hard to move, I do have schwab and a local first foundation savings.

On another note WTF, how did you pull of 3 pensions I must have missed that one in the retirement threads--KUDOS!!

 

[havasujeeper]

He's probably thinking you should read the 5 words in front of the part you quoted?

I guess I should have read that part twice. Sorry.

 

[Bobby V]

WF so long too hard to move, I do have schwab and a local first foundation savings.

On another note WTF, how did you pull of 3 pensions I must have missed that one in the retirement threads--KUDOS!!

The fire sprinkler union has 2 pensions. 1 for the 41 years I was in the union and the 2nd one was a 403 type pension which we call a supplemental pension and the 3rd is Social Security.

 

[v6toy4x]

The fire sprinkler union has 2 pensions. 1 for the 41 years I was in the union and the 2nd one was a 403 type pension which we call a supplemental pension and the 3rd is Social Security.

OK, we (carpenters) have an annuity in addition to pension, probably not as good as your guys' supplemental.

Enjoy your retirement!

 

[spark2678]

WF for 30 years here, no issues. I have moved some of my money to other banks though with higher checking and saving account yields.

 

[Bowtiepower00]

Got it. I heard a complaint late 2021 that someone tried to pull out $10k and they were told they have to make an appointment.

Maybe it was just a shitty branch, glad it was fake news.

I edited my post.

For BOA it varies widely by branch. I had to go to multiple branches last spring when I bought my boat, and most were only able to give 3-5k per transaction. Anything higher required me to “order” the money and wait 3-5 days to get it. Ended up going to several branches multiple times over 2 days in order to get the amount needed- and it wasn’t a large amount.

 

[LuauLounge]

Have a Citi Visa, planned on spending 20k on a single purchase. I call them in advance to avoid the fraud hold and guess what, fraud hold. Call them, call the company and after going back and forth with both. Cancel the order. Start all over with a different card and bank. Same deal as before. Finally got it squared away, but what a pain. Purchases were less than half of the limit.
Never got a good explanation of the reason.

 

[GETBOATS]

Business accounts were with WF for 25 years until 2021 when Teller, then branch manager "whom I've know for decades" asked for my ID when depositing cash and refused until I had the ID, that day I didn't have it. Told the branch manager that day, this will cause me to move accounts. she just shrugged. I put up with the long lines for way too long, very happy leaving WF behind. In my mind they are the Walmart of banking.

 

[OC Mike]

KYC? Had no idea what it was, Soooo

What is KYC? Financial regulations to reduce fraud | Plaid

KYC procedures are required to help prevent financial crimes. Learn how KYC helps you verify a customer’s identity and identify their risk factors.

plaid.com

 

[Jefftowz]

47 years with WFB, I have never had them ask me to "update" my address. I have been inside the branch zero times in the last t
I do use the app on my phone or computer several times a week.

Address? I get no actual "mail" from them, all accounts are set to "online" communication only.

I wonder why this happened??

Did you ignore the notices Wells Fargo sent out last fall concerning this?
I got the same warning notice months ago (e-mail, text, and on the app) and so I called them.
The very nice English speaking lady on the other end had me straightened out in about 5 minutes.
It would appear that you neglected this required maintenance, or somehow missed the notices?
It always amuses me when people say this bank or that bank is great or sucks.
I have differently structured accounts in all the big banks…with WF more or less the “hub”. Each have their strengths and weaknesses.
When my PayPal got hacked twice, it was the kid on the phone at Wells Fargo that guided me on exactly how to extract my money from PayPal while blocking their access to my linked account. (Lesson learned)
Some banks I only use for CC, others I only use as depository banks, others I only use for insurance and car loans.
There’s some basic financial rules that a large majority of otherwise intelligent people seem to ignore.
Not the least of which is to PAY ATTENTION to your accounts…daily.

25 years with varying WF accounts and not a single complaint from me.

Why do you guys think that one bank is the answer?
My USAA blows everyone out of the water on bundled car and home policy’s…and usually any car loan…but I’d never consider them as my depository bank.
Chase was a decent mortgage carrier, until they weren’t…but they still provide me with several good revolving options.
One vehicle got America First…by half a point…

I’ll never understand why people think one place is going to service all their needs.

I never received anything in writing email or notice at all. The bank manager at my branch told me he’s heard that from a few people. I checked my balances and I go on and check their online mailbox daily

 

[was thatguy]

I never received anything in writing email or notice at all. The bank manager at my branch told me he’s heard that from a few people. I checked my balances and I go on and check their online mailbox daily

When I got the notice I thought it was because I had moved and bought a house.
It was strange, and seemed like a phishing attempt at first.
But it was legit.