Wells Fargo: The Bank With Their Hands in My Pockets
Written: Jun 08 '08
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Product Rating:
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Pros: ATM card has Visa logo, online access to my account
Cons: Overdraft fees that should not have occurred
The Bottom Line: Fees do add up at Wells Fargo and the way they process deposits and checks causes overdraft fees!
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| pablothegreat's Full Review: Wells Fargo |
I have had many bank accounts at many banks over the years. Each new residence brought a different banking system. Some I was very happy doing business there and some seem to be out for blood! While Wells Fargo is not the best that I have ever had, it definitely is not the worst either. Nowadays Wells Fargo tries their best to be personable and friendly....I can meet one of the tellers at the store and she casually asks if I am satisfied with my banking services!
The Website:
Their website is secure and fast to load. What I love is being able to check my account on a daily basis, even multiple times a day if I want. All for free! I can sign up for services on it as well but I have never done this. It is easy to navigate and I do not have to put my banking number in each time, just a name that I choose (lampstoyou) and my passcode that I choose (fishy). I have caught many instances here that alerted me to take action and call the bank or run to make a deposit quickly. Online banking is free. You can open an account, apply for credit, and pay a bill via the website.
The Customer Service:
You will be charged if you call the 800 number for Wells Fargo but it is free to call the local number to your bank. Confusing?? Yes! I forget which is the free choice! Oh and they do not tell you this, you are just charged out of the blue after you call. Even if you are calling about THEIR mistake, you will be charged. So although you can call late at night after your bank is closed, it will cost you. The bank tellers and staff inside the bank are as friendly as I'll get out. You feel as if you are family and they know you personally. I myself don't remember their names and sometimes do not remember meeting them before but they always remember my name and my child's name! I have been very happy with staff and very irritated with them over fees.
Overdraft Fees:
Making a deposit in the morning and writing a check in the afternoon is dangerous here. If you need to do this, pay cash instead. Wells Fargo puts the checks through before the deposits each day. And they put through the largest check before smaller ones. So say you have two checks ready to go through...one for $3 and one for $335 and you do not have enough in the account to cover both (prior to the deposit which they have not put in yet), but you do have enough to cover the $3 check. Both will bounce. Wells Fargo's policy is to put the largest amount through first even if that racks up two overdraft fees...I told them that was unfair to customers and best for the bank to get more fees out of me. First of all, the deposit should have went through covering the checks. Second of all, there was enough in the account to cover the smaller check so why should I have to pay two overdraft fees? Many complaints later about this happening a few times and none of my overdraft fees were covered except the first....because they said they had warned me not to write checks without the money in the bank??? Hello!? I made the deposit, didn't I? What do I need to do? Start working for the bank so I know my deposit has actually made it into the account? Checking online, I never can be sure as it shows as pending. They do have overdraft protection for a fee, you will need a credit card or a savings account with money in it to cover any over the limit checks.
The Bank
The bank is great about having enough staff so there are no lines. I have not been inside of the bank often but when I have gone, I went straight to a teller to conduct my business. Setting up an account was a simple process.. Setting up for my check to be automatically deposited has not happened yet...I keep calling, they keep promising, but nothing has happened. Maybe I should walk in and talk to someone but I have not done this yet. The drive-thru tellers can be very cold or very friendly depending on who is there. Their driveway is difficult to maneuver especially during wintertime but usually there is no long wait times, maybe one car ahead of me. They are great about cashing a check for me and putting it in as cash so it shows up in my bank account quicker when I need. I love that they give out stickers for kids instead of candy.
ATM Card:
The ATM card is the reason that I have to have a bank! I can pay my bills over the phone and pay for gas quickly and get back on the road. With small children, it is difficult to get them out, run in to pay, buckle them back up, and say no to all the requests in the store. Less time consuming and less headache! When you sign up for a bank, make sure and ask about ATM cards, some do not have this option and others you have to apply for one. My previous bank denied me on the basis of little credit history so I went straight to open an account with Wells Fargo and cancelled that bank account. I have never had issues with overcharges with my ATM card. Only charges that I myself meant to have. The only bad thing is no record of my payment except looking online. Sometimes I am so rushed, I forget to write it down! Most stores will accept ATM cards with the VISA logo and this is what Wells Fargo ATM card has. Once and a while I will run across a Mom and Pop older store that does not accept them. Having an ATM card means you can shop online too! It is used just like a credit card and accepted the same at most places. They can run it through like a debit card or credit card either way, sometimes you have to sign and sometimes you don't, when you enter in your pin number, you do not have to sign. Even the post office accepts it! Once you receive your card in the mail, you will need to stop by the bank to choose a pin for it. My bank has their ATM inside so after hours, you will need your ATM card to enter. Mine has a slide lock that unlocks once the ATM card slides through it.
Checking Account:
I have a no fee checking account with Wells Fargo. That means I do pay for checks though. My checking account is free each month and I only have to pay for checks once I run out. You can choose receiving your statements by mail or on the website. Your statement online will have a copy of the exact check you wrote as well as the amounts of the checks. When you receive your statement by mail, you can see who you paid and the amount of each.
Fees do add up at Wells Fargo and the way they process deposits and checks causes overdraft fees! They are reliable and I have never had a charge that I did not authorize on my account. I can't say that I am totally happy with them but the online access and ATM card are exactly what I need.
What is so good about THIS bank?
ATM card has Visa logo, online access to my account
What is unique about this bank?
Online billing.
Is it worth the price?
Fees can add up quickly.
There has to be some bad to this bank, right?
Overdraft fees that should not have occurred.
Any warnings people should be aware of?
Do not make a purchase the same day as your deposit!
Final verdict:
Fees do add up at Wells Fargo and the way they process deposits and checks causes overdraft fees! They are reliable and I have never had a charge that I did not authorize on my account. I can't say that I am totally happy with them but the online access and ATM card are exactly what I need!
pablo the robbed
You cannot change your destination overnight, but you can change your direction overnight. Jim Rohn
Recommended:
No
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pablothegreat
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Location: Going, going, gone...
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About Me:
Too blessed to be stressed!
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