topic Re: Wells Fargo Bank in Community Chat

Wells Fargo Bank

SeaMaiden — Wed, 19 Oct 2016 13:27:32 GMT

Who would stay with this bank after all the slimy dirty things they had going on for years? They just lost accreditation in their standing with the BBB. If you bank with them now, will you change banks?

Re: Wells Fargo Bank

bonnielu — Wed, 19 Oct 2016 13:35:49 GMT

We only did business with them once. Long story short- electric company had power surge. Our heat pump was destroyed. Had to replace furnace as well. Oh joy. The power company paid for the furnace but not the head pump... issue with freon regulations. IN any case our plumbing company offered us no interest and Well Fargo was the Bank they went through. NO real problems but no reason to have a problem.

Daughter on the other had was caught up in the oversell campaign. Not sure what she will do. Lots of crazy regulations, charges, demands. Hopefully she will dump them and go.

Re: Wells Fargo Bank

mercyMe — Wed, 19 Oct 2016 13:51:02 GMT

Once the trust is broken--especially in banking--what else is being "swept under the rug."

The resigning CEO walks away with $133 million--not bad for a days wage.

Re: Wells Fargo Bank

bri20 — Wed, 19 Oct 2016 13:51:40 GMT

I don't bank with them.

If I did, I wouldn't do business with them.

Re: Wells Fargo Bank

Lipstickdiva — Wed, 19 Oct 2016 13:54:11 GMT

The problem is, not everyone is going to have the option to walk away from them. Sure if you have a checking or savings account, that will be a pain but easy enough to accomplish.

If you have a mortgage or some other loan through them, that's not going to be so easy and may not be possible for some.

We had an X number of months, no interest loan with them that should still be going but I paid it off about 3 months ago so we have nothing with them and I won't do business with them again.

Re: Wells Fargo Bank

Caaareful Shopper — Wed, 19 Oct 2016 13:57:33 GMT

It can be a huge pain in the derriere. Utility bills, mortgage, insurance, online shopping accounts, direct deposit of paychecks -- all would have to be changed if they were set up to come out of one's account automatically. What a nightmare!

Re: Wells Fargo Bank

RespectLife — Wed, 19 Oct 2016 14:02:39 GMT

I would never deal with Wells Fargo for moral reasons having nothing to do with this case. However, I can say...they are NOT the only ones doing this !

My mom and I had a joint account at Key Bank for a very long time. Every transaction included a hard sell. A silly deposit took forever as the tellers continually tried to upgrade/change/add....it was ridiculous! Even at the drive in! Seriously? There are now 4 cars piled up behind as she was 'opening' a new and better account for me.

I clearly said NO and yet it was done.

No matter which branch I went to...same thing. It was clear to me the HARD sell was their policy. I truly feel sorry for anyone working under those high pressure situations.

I can't tell you how many times I had to call back because changes were made that I NEVER authorized.

Of course, they were ALWAYS for my benefit and they just couldn't understand why I was insisting on the closure or removal of these additional accounts and benefits.

Mom refused to let me change banks. Once she passed...I went to Key to close the account.

As usual, I was hassled and negotiated with. She told me I was making a major mistake closing such a long tenured account. It took 45 mins. for me to close that! I even had to wait so the Bank Mgr. could come over and lecture me.

I told him I would not deal with a bank that opened lines/accounts/made changes without my consent. He claimed they would NEVER do that.

As w/ Wells Fargo...he is wrong.

Re: Wells Fargo Bank

Winkk — Wed, 19 Oct 2016 14:05:03 GMT

@Caaareful Shopper wrote:
It can be a huge pain in the derriere. Utility bills, mortgage, insurance, online shopping accounts, direct deposit of paychecks -- all would have to be changed if they were set up to come out of one's account automatically. What a nightmare!

@Caaareful Shopper - I agree. Last year I changed my bank and like you said it's a pain to get it all worked out. The best thing is to be proactive and check into your accounts from time to time. Don't rely on the bank to be looking out for you. How many other banks are doing the same thing that Wells Fargo did but haven't gotten caught?

Re: Wells Fargo Bank

MercysMom — Wed, 19 Oct 2016 14:11:22 GMT

I'm staying because it would be too big of a pain to change. Between me and my son, we have a total of 5 accounts and my direct deposit goes there. It's like an act of congress around here to get that changed, not to mention new debit cards, etc. I just can't handle all the stress that would come with changing banks.

Re: Wells Fargo Bank

ChynnaBlue — Wed, 19 Oct 2016 14:15:03 GMT

@Caaareful Shopper wrote:
It can be a huge pain in the derriere. Utility bills, mortgage, insurance, online shopping accounts, direct deposit of paychecks -- all would have to be changed if they were set up to come out of one's account automatically. What a nightmare!

It is a nightmare.

I don't bank with Wells Fargo, but I have issues with the way most large banks treat customers. I've looked into changing my own bank many times, but it's definitely not easy. Using a large bank means more ATMs that don't charge me to access my own money. It means better access to banks in every state. It means better phone and text banking apps. I think the credit unions generally treat people better, but they don't offer the convenience I need.

There are some things I'm willing to sacrifice and others I'm not, so going to a credit union isn't an option for me.

If I did bank at Wells, I would look into how to make a change and whether I could manage it, though. What they did was really egregious.

Re: Wells Fargo Bank

2blonde — Wed, 19 Oct 2016 14:23:30 GMT

My banking is done with a locally owned savings and loan. They have a branch about one mile from my house. I have my mortgage and checking there, and I also have many other payments (utiities, auto loan) automatically debited. I don't need or want a debit card, and these people are a joy to work with........no sales tactics at all because they are not a "bank."

Re: Wells Fargo Bank

CelticCrafter — Wed, 19 Oct 2016 14:31:50 GMT

We have never done business with WF but when BofA told me I was no longer "allowed" to deposit 2/3's of my husbands paycheck and take 1/3 back in cash unless he was with me even though I had been doing it for years and the tellers knew me and when they asked him for 3 forms of ID to do the same thing we were done with them. Closed every account and were lucky that the CD's we had with them came due at the same time.

I would rather stuff the mattress than do business with them again.

Re: Wells Fargo Bank

pdlinda — Wed, 19 Oct 2016 14:41:49 GMT

I'm with mercysmom. I've been with Wells Fargo for 25 yrs, have 5 accounts there and it would be entirely too much of a hassle for me to change.

Re: Wells Fargo Bank

Annabellethecat66 — Wed, 19 Oct 2016 14:41:55 GMT

I stay with them. I have 5 accounts with them. My late husband did business with them at least 18 years ago.

We also had an account with Suntrust since the beginning. I'd say at least 30 some years ago (through changes in name). I still keep one account there and use it when I travel or worry about using the other cards.

I don't own a credit card, don't want one. I know most of the people at the two Wellsfargo's I go to. However, the one Wellsfargo is always unbelievably crowded. Everyone there speaks Spanish (which I don't) so sometimes it is challenging at one bank.

I can't stand the Suntrust. My late husband had many accounts at different banks for business purposes. When he died I withdrew from all of the other banks. Most of my money stays with a brokerage company.

People who keep a lot of money in banks are making a big mistake. It doesn't earn any interest. Just saying. If you keep track of your accounts (which you should) you have nothing to worry about.

So, there you have it....Me/myself and I keep accounts at Wellsfargo.

Re: Wells Fargo Bank

stevieb — Wed, 19 Oct 2016 14:48:05 GMT

I have accounts there and while I don't really like the bank, since they bought my mortgage, I have to choice but to deal with them unless I want to refinance and even then, there's not guarantee they won't buy the loan unless I specifically refinance through a different bank. When so many other banks were merged under their banner, it really didn't do the customers or the marketplace any favors. I'd love to find and return to a small community bank, but it seems they've mostly been swallowed up by the giants and the few that remain have a hard time competing.

Re: Wells Fargo Bank

jackthebear — Wed, 19 Oct 2016 14:52:45 GMT

@Caaareful Shopper wrote:
It can be a huge pain in the derriere. Utility bills, mortgage, insurance, online shopping accounts, direct deposit of paychecks -- all would have to be changed if they were set up to come out of one's account automatically. What a nightmare!

all one good reason i don't like automatic payments coming out of my accounts, no one should be able to reach

into my accounts but me.

i have money in WF and no problems so far.

Agree on the upselling at the banks though, you just have to cut them off when they start.

Re: Wells Fargo Bank

CelticCrafter — Wed, 19 Oct 2016 14:58:09 GMT

@stevieb wrote:
I have accounts there and while I don't really like the bank, since they bought my mortgage, I have to choice but to deal with them unless I want to refinance and even then, there's not guarantee they won't buy the loan unless I specifically refinance through a different bank. When so many other banks were merged under their banner, it really didn't do the customers or the marketplace any favors. I'd love to find and return to a small community bank, but it seems they've mostly been swallowed up by the giants and the few that remain have a hard time competing.

We still have a few in NJ. Their rates are about the same as the big ones and they are always so not busy when I go in.

Re: Wells Fargo Bank

karol59 — Wed, 19 Oct 2016 15:05:20 GMT

I HAVE BEEN WITH THEM ALMOST 20 YEARS AND HAVE NO PROBLEMS WITH THEM, I AM STAYING WITH THEM, TOO MUCH HASSLE NOT TO.

Re: Wells Fargo Bank

Piperdellilah — Wed, 19 Oct 2016 15:25:07 GMT

I work at a small bank and i couldn't imagine doing this. we don't push credit cards or anything like that. i do have money in WF and i will leave it there for now. i keep very close tabs on it and if anything was off i would know right away. It would be very easy for me to move everything at WF to the bank i work for and might do that at some point.

Re: Wells Fargo Bank

millieshops — Wed, 19 Oct 2016 15:35:43 GMT

I've never banked with them but I do use their brokerage which is run far differently - or that's my exerience. My guess is that in both sides of the busniess it depends upon which individual people we deal with.

I also know that other large banks push their products but not to the extent that branch of WF did. I know that from personal experience. I opened a credit card account (no fees) with them and they offered me more credit than I could ever afford to pay back and when I didn't use it enough over the 5 yars I had the account, they cancelled it. Virtually no hit on my FICO which was the only thing I cared about.