[dailyhodl.com]

So now we will have to call in a complaint that we didn't get enough money? Even though there is all this bad news with WF, their stock price is still up YTD and for the past 12 months. They are even higher now that they were 5 years ago.

They just cannot keep their nose clean. But for many it is probably their closest bank since at least in my city they have more branches than any other bank does. But the bulk of their money most likely does not even come from personal accounts. More work for us to profit from?

The nicest thing about the Wells Fargo shops is that I can decline to do them. That's one of the greatest things about this job. I can just say no.

Outside of the occasional inquiry shop at the branch within walking distance of where I live, I haven't done any other types of WF shops. I thought about the ones where you open an account when it gets highly bonused, but didn't really want to go through it. I guess I have the same sentiment as AZwolfman. For some reason, just rather pass.

Indeed WFC stock value is fine, and held by many mainstream funds. What I don't get about Wells is that it hasn't been that hard to make good money in banking. Ok Citigroup is working to turn around. But JP Morgan, Bank of America, etc. These bigger money center banks don't have many problems yet Wells has to keep being kinky. Go figure. This is why (perhaps wrongly) I didn't buy shares nor bonds. I just feel there's a culture of lying up there. Ditto Boeing but that's another story.

I'm still with WF as my main bank, despite their issues, and a declining relationship over the years.

Used to have LOTS of $$$ with them, not so much anymore.

But they offer a 1-day grace period on checking account overdrafts, along with 24-48 hours advance access to my paycheck from my teaching gig, and that winds up being HUGE in my current situation.

Perfect example:

I've got a bunch a bills for which I need to post payments on August 31st.

Currently there is next to nothing in my checking account, and I won't see any more shop payments this month.

Because the 31st is a Saturday, and Monday is Labor Day, none of those posted payments will hit my account until Tuesday, September 3rd, and it's highly likely I'll go into overdraft as a result, unless I have some really good rideshare shifts (not holding my breath).

I have until close of business the following day to make up the shortfall. With the ability to instantly cash out my Uber wallet, I just have to drive to keep things rolling.

Along the same lines, my rent is set up for auto payment on the 5th, and after paying the aforementioned bills, I probably won't have enough readily at hand.

My normal paydays from school are the 7th and the 22nd, but September 7th is a Saturday, so they pay on the 6th. Funds should be credited to my account before my rent payment hits because of the payday advance, and probably would be even if the 7th were a business day.

If I could find another bank that worked this way I'd move in a heartbeat.

[www.reuters.com]

I'm no fan of Wells Fargo, but I have to give them credit for making it easier to avoid paying monthly fees for their "everyday" checking account. To waive the fee, the minimum daily balance required is $500 (Chase is $1,500). Both banks have the same direct deposit threshold - $500 - but Wells Fargo considers PayPal transfers "qualifying electronic deposits," which count towards that $500. They are the only one of the "big banks" I know of that does.

I have an account with nearly every major national bank (chase/wells/bank of america/us bank/citibank). I even have one with USAA Federal Savings bank and also with several credit unions. I like each for a different reason. The convenience of Chase being lots of places and had (not sure if still do) the best Saturday hours (9-4). The rewards from BofA Diamond Preferred are stellar. I keep most of my money in USAA and funnel it to other places. There are no USAA branches. I have had the WF account for 20 years. I like doing the $25 complaint calls. It's $50 per month in easy income. I never personally had a problem with them. Have they made mistakes as a company, yes. I'm sure there are horror stories. I'm sure they are not alone either. You can find problems with almost any business (even Costco).

I will say out of all the major banks, I hate CITIBANK the most, but i'm too lazy to re-route any automatic payments I have going there. They instituted a new thing to charger fees, so i play along. Send a zelle automatically monthly from non-citibank to citibank for $501 to avoid fees. Then have it setup automatically in citibank to send the $501 back. I find outsmarting their rules to be a game to me. Set up a rule and I will do my best to find a way around it :-) My mom always said I should have been a lawyer.

Edited 1 time(s). Last edit at 08/28/2024 11:08PM by hbbigdaddy.

I used to churn through bank accounts for the welcome bonus, but now I park most cash in an online high-yield savings account. For simplification and peace of mind. I stick with one big brick-and-mortar bank to make payments, occasional mobile deposit, and withdraw cash.

@drdoggie00 wrote:

I'm no fan of Wells Fargo, but I have to give them credit for making it easier to avoid paying monthly fees for their "everyday" checking account. To waive the fee, the minimum daily balance required is $500 (Chase is $1,500). Both banks have the same direct deposit threshold - $500 - but Wells Fargo considers PayPal transfers "qualifying electronic deposits," which count towards that $500. They are the only one of the "big banks" I know of that does.

To Woodforest Bank's credit, they also considered PayPal transfers a direct deposit and did not require there to be a minimum direct deposit. There was a lot of other stuff about them I didn't like, but that was a nice feature. Now, 2 of my 3 accounts are with banks that have no brick-and-morter location. They have turned out to be the best banks ever.

I'm at the point now that whenever I hear "Wells Fargo" I expect something weird: [www.12news.com]

Four days to find her! Really???

ewww, she went to work on Friday, only discovered on Tuesday? no words here.

God in heaven….

This is going to be a lawsuit.

Just say NO!

Wow. That story almost puts WF in a league with A Florida Man.

@drdoggie00 wrote:

I'm no fan of Wells Fargo, but I have to give them credit for making it easier to avoid paying monthly fees for their "everyday" checking account. To waive the fee, the minimum daily balance required is $500 (Chase is $1,500). Both banks have the same direct deposit threshold - $500 - but Wells Fargo considers PayPal transfers "qualifying electronic deposits," which count towards that $500. They are the only one of the "big banks" I know of that does.

Citi mentioned above somewhere now wants a daily holding of $30,000 in the equivalent to everyday checking in order to avoid the fee, either that or a monthly direct dep of at least $500, although I think they may have lowered it to $250. I closed my citi checking acct after almost 40 years because I have no interest in those games. Someone said citi was trying to fix their financial status. The only thing I can imagine with a $30,000 minimum holding for a free acct they are trying to get rid of their "riffraff" current customers.

Yeah, bank churning ain't what it used to be. To get new account bonuses they want either hundreds of thousands deposited or want you to jump through multiple hoops every month (direct deposit, use the debit card 15 times, enroll and use online banking, vacuum the lobby, etc.). Or both. High-yield is no hassle and new credit cards keep wanting to give me money. I accept if it's free.

Many of the Woodforest banks have closed around me, what about you guys?

And lock in some CD's, as interest rates slowly but surely decrease.

@Susan L. Bizarre! Poor woman! R.I.P.

@Susan L. wrote:

I'm at the point now that whenever I hear "Wells Fargo" I expect something weird: [www.12news.com]

Four days to find her! Really???

Very sad. In my years of mystery shopping and working, I have noticed that women over 40 are invisible. This is a terrible story. I often ask when I see a co-workers car in the lot after their shift is over. Are they OK? Are they down in a confined space?

@sestrahelena wrote:

Many of the Woodforest banks have closed around me, what about you guys?

Woodforest Bank has branches that aren't in Walmart? I did an account opening shop, but then Walmart stole money from me on a Kroger competitor shop, so I don't go into Walmart anymore. Last I saw or heard I still have $.72 in that account. I wonder if there are free standing branches around here? Answered my question, there are no Woodforest Bank branches within 80 miles of me that are not inside Walmart..

Edited 1 time(s). Last edit at 08/30/2024 08:00AM by Morledzep.

There are a lot of freestanding Woodforest locations in Texas, but the closest to me is over an hour away. Woodforest has a "free" checking account for those 55 and older, but they want to nickel and dime you on many other things you would expect not to be charged for. I've had an account with them in the past, but only because I was paid $210 to open it and slog through the report.

I've seen a few Walmart front ends where Woodforest used to be but now the space is empty or occupied by something else.

I can't wait to get out of my Citibank account but need to keep it one more year. I innocently did a shop where I ended up part of a class action and am getting four annual payments for a total of $1400 plus change. Can't change the bank midstream. Not a bad payment for one shop.



Edited 1 time(s). Last edit at 08/30/2024 11:27PM by pambam.