topic Re: Wells Fargo Banks in Community Chat

Wells Fargo Banks

ScrapHappy — Fri, 01 Sep 2023 13:01:33 GMT

Several WF banks have closed in my area. I did a google search and found out that Wachovia bought WF. The 2 banks remaining in my area have closed their drive-thru. Has anyone noticed WF closures near you?

Re: Wells Fargo Banks

tampalady — Fri, 01 Sep 2023 13:06:35 GMT

Yes, we have had several close in our area. They also closed the drive through window. It is just the signs of the times.

Re: Wells Fargo Banks

on the bay — Fri, 01 Sep 2023 13:08:19 GMT

Wells Fargo bought out Wachovia in 2008.

I have noticed many different banks closing several of their locations. I guess just like retail and restaurants it's a sign of the times.

Re: Wells Fargo Banks

millieshops — Fri, 01 Sep 2023 13:12:32 GMT

@ScrapHappy Haven't noticed a WF disappearance yet; lost my favorite Chase already. I know other banks have closed but I don't pay careful attention to those I don't use.

Re: Wells Fargo Banks

On It — Fri, 01 Sep 2023 14:26:00 GMT

The closure of drive thru windows seems to be a big-bank trend. Bank of America closed their drive thru manned by humans at one of their branches in West Texas.

Re: Wells Fargo Banks

They CallMe MRWILKES — Fri, 01 Sep 2023 13:57:16 GMT

Wachovia hasn't existed since the banking crisis/recession of 2008.

It's purchase by Wells was part of the restructuring of the banking system to avoid widespread panic and collapse of the financial markets: Washington Mutual, Lehman Brothers, Bear Stearns were subject to bailout and orchestrated mergers by the Fed, the FDIC and the Treasury.

Re: Wells Fargo Banks

vermint — Fri, 01 Sep 2023 13:37:43 GMT

@ScrapHappy wrote:
Several WF banks have closed in my area. I did a google search and found out that Wachovia bought WF. The 2 banks remaining in my area have closed their drive-thru. Has anyone noticed WF closures near you?

@ScrapHappy It's my understanding that Wells Fargo merged with Wachovia in 2008...and all Wachovia banks became Wells Fargo.

I can't find any info about a reversal--did a google search.

Re: Wells Fargo Banks

Icegoddess — Fri, 01 Sep 2023 13:39:49 GMT

Why is closing the drive-thru windows a sign of the times? I would think they would prefer that over people coming inside. At least that was how it was during Covid. Drive-thru was the only way to do any banking unless you could get an appointment to go inside for something.

WF may have lost a lot of their customer base after the scandals they've endured the last few years.

Re: Wells Fargo Banks

kaydee50 — Fri, 01 Sep 2023 13:41:09 GMT

Actually, a Wells Fargo bank is opening in my area in Chicago. This is the first one I've seen here.

Re: Wells Fargo Banks

drizzellla — Fri, 01 Sep 2023 13:42:44 GMT

Yes, several Wells Fargo bank branches have closed in our area.

And the one closest to our house is on it's last breath. You still were not allowed into the bank without an appointment at least 6 months after things started to open up after Covid. The 2 lines for the drive thru was always backed up to the street with at least 12 cars in each line.

But oddly 2 Chase Bank branches have opened within 3 miles of our house. Since they are so close to one another, you would think they were in competition with each other. But several other banks have also opened recently.

A Wendy's became a Bank of America. All the other new banks are new construction.

But there were computer problems last week with deposits and withdraws. Wells Fargo is having their troubles.

Re: Wells Fargo Banks

Caaareful Shopper — Fri, 01 Sep 2023 13:53:50 GMT

Online and digital (app) banking is most likely the cause, especially after the pandemic.

It's not just Wells Fargo. I haven't been inside a bank in at least 15 years. I do everything electronically on my own.

I do still use the drive-thru ATMs on occasion. But since I can get extra cash when I pay for my groceries in the store, I don't even use ATMs that much either.

Re: Wells Fargo Banks

ECBG — Fri, 01 Sep 2023 13:58:14 GMT

We bank with Wells Fargo. Our large branch didn't even have a notary the other day!

Some of it may be a "sign of the times" but when you quit offering services and you're a financial institution, services are half their function. People are leaving.

Re: Wells Fargo Banks

gidgetgh — Fri, 01 Sep 2023 14:04:21 GMT

If Wells Fargo were the last bank in the country, I would keep my money at home, hidden in a sock.

Re: Wells Fargo Banks

stevieb — Fri, 01 Sep 2023 14:10:01 GMT

There are at least five branches within a few miles and many more looking at the larger area in which I live. When they took over Wachovia, they kept most of their own branches, the Wachovia branches and then added to them. If they now are closing branches it might have to do with having too many in the first place. What I find off-putting about them and other larger banks is the lack of service. Staffing is sketchy and while any given larger bank branch might have a few tellers, they have limited abilities to do anything else. I find it annoying when Wells, for example, wants customers to make an appointment for anything more than a routine teller transaction. Really, what happened to walk-in banking? I'd also add, customer service by phone is a mixed bag. Once you finally reach someone, they're usually but not always helpful or pleasant. I have found brand personnel to be generally nice both in person and by phone.

Re: Wells Fargo Banks

smoochy — Fri, 01 Sep 2023 14:07:03 GMT

My bank, PNC, has announced branch closures as they transition more fully to online banking. Fine, but there are certain things you can't do online, like wire transfers and getting a cashiers check. We had to go to a distant inconvenient branch in another city for that.

Re: Wells Fargo Banks

patbz — Fri, 01 Sep 2023 14:23:50 GMT

Only one WF branch in our small city but they closed drive thru and now open 1 hour later.

Re: Wells Fargo Banks

ValuSkr — Fri, 01 Sep 2023 14:26:56 GMT

It seems like banks - and credit unions - would have little need for physical branch locations anymore. I'm not surprised they're reducing their footprint but it's a shame to see the vacant real estate. One vacant branch near me is now a medical marijuana dispensary; another is going through the township's permitting process for the same thing.

Re: Wells Fargo Banks

Kachina624 — Fri, 01 Sep 2023 14:48:28 GMT

@On It wrote:
The closure of drive thru windows seems to be a big-bank trend. Bank of America closed their drive thru manned by humans at one of their branches in West Texas.

@On It. None of the BOA branches in my area of New Mexico have drive in windows. Also, their ATM machines are in unsafe locations. They have no regard whatsoever for their customers.

Re: Wells Fargo Banks

ScrapHappy — Fri, 01 Sep 2023 14:50:14 GMT

@ECBG wrote:
We bank with Wells Fargo. Our large branch didn't even have a notary the other day!
Some of it may be a "sign of the times" but when you quit offering services and you're a financial institution, services are half their function. People are leaving.

The times I have gone inside the bank, the offices are always empty. If you need to see a banker, you need an appointment.

Re: Wells Fargo Banks

bells4me — Fri, 01 Sep 2023 15:11:00 GMT

I have been a Wells Fargo customer since 1990 and never had a single problem with them. In my town we only have an ATM is my only complaint. When I did need an office I have to travel.