Wonderful Wells Fargo

[cassie]

Not long ago Wells Fargo foreclosed on a house that had been paid for in full several years previous. Then they didn't want to admit they screwed up. My brother has a bank account at Wells Fargo but that is going to change as soon as we get moved.

 

[bgelber]

We closed our Wells Fargo account after receiving a notice that they were going to start charging $3 a month to use our debt card. Not alot of money but we refused on principal. Banks are trying to make up for what Congress took away from them but they are still nickeling and diming us to death here.

 

[Carols Clucks]

I can't get a direct deposit- work for a small company, don't have enough to avoid minimum balance charges, am not over 50 etc.....

I was unable to find a free account, for the same price as the credit union $10 a month, I opened an account with a bank that my mom banks with. At least I can save some gas money on driving her to the bank

 

[dewey]

My bank started that 2 months ago. $8 per month, money for nothin'.

This is after several years ago sucking folks in with "free checking for LIFE". I'd switch banks but don't want the ping on my credit for closing an account.

 

[zippitydooda]

Wouldn't it be something if we all simply stopped using banks? I know this sounds really difficult, but picture it.......

You receive a paycheck and go to the bank that it is drawn on and CASH it. You don't use any credit cards, paying CASH whenever you buy something. You pay for bills that MUST be mailed with a money order (hey, they can make money because they are providing you with the paper & record keeping). EVERYTHING else you just pay for with cash.

Can you imagine if 25% of the people did this for 6 months? The banks would be BEGGING for us to put our money with them (yes even those of us who don't have thousands). They wouldn't have any cushion or play money. They would actually have to lower loan interest rates and raise the interest rates they pay for us to let them use OUR OWN MONEY.

Just sayin' .......

to the bankers who are ripping us off!

 

[Carols Clucks]

Quote:
Except for those banks that charge a fee for you to cash your payroll check there.

Or for those with checks drawn on out of state banks and have to pay a fee to cash them

 

[desertdarlene]

Actually, with my account, all I had to agree to was a transfer of a certain amount every month from checking to savings and I pay no fees (unless this is something new that they've come up with). They transfer the money, then I transfer it right back and there's no monthly fees.

 

[andalusn]

I was paid for managing a horse show by check and when I went to the large regional bank the check was drawn on (close to my work) and was going to cash the check they wanted to charge me a fee because I personally did not bank with them. I demanded they hand me back the check and the teller looked dumb founded. I went a head and deposited it in my bank and waited the regular few days for it to clear. It was even worse when I contemplated the fact that the person who wrote me the check worked in management for same said bank at their corp head quarters. I have never been back.

 

[Mac in Wisco]

Quote:
You have to look at it from the bank's point of view too. They are a business. They make money by using your money. Free services are nice, but maintaining accounts with low balances is a drain on their profits. You are using their services, they don't operate as a free public service.

I've had accounts at numerous banks and credit unions over the years; Wells Fargo, Bank of America, Citibank, USAA, just to name a few. Bank of America was probably the worst. USAA one of the best.

Anymore I just stick with the hometown bank, locally owned, with a half dozen branches. I get free services if I maintain a balance of $500, otherwise it's $7 a month. I've rarely had to pay the $7. Even when I do I still have a net gain as I generally make $75-$100 in interest over a year's time.

The local gas station/convenience store chain has free no-fee ATMs or I get cash back at point-of-sale purchases to avoid any third-party ATM fees. The same gas stations offer a credit card with cash back on purchases. I looked into it and found that they could issue it strictly as a debit card tied to my checking account without a credit line and without any fees. As we do a lot of business as these gas stations/stores I got a card for each family member and we use those cards whenever we make purchases at those stores vs the bank's debit card. That gets me about $75 each quarter in rebates, enough for a free tank of gas for the truck.

 

[dak]

Can someone explain how I would deposit money into a checking account with USAA? I have other accounts with them, but don't quite get that part. I have been happy with most of my accounts with them though they took forever when my car was totalled to get a check to me. I closed all my accounts with Wells Fargo earlier this week. They send me one statement a month. That hardly deserves $7. I had my accounts with them over 10 years.