Good Bye Wells Fargo

[enharu]

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@Jungook wrote:

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@enharu wrote:
@jungwook, each account type has its own requirements. Minimum usage of debit cards requirements isn't exclusive to WF. Chase and citi has account types that have this requirement too.

All I'm asking is, if he's unable to meet the account requirements, change the account type. Hope that clarifies.

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That's what he basically did, he has changed to a credit union with little to no fees, and has opened an online account as well. He has already taken your advice but had gone a step farther in his endeavors. 

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Which is why I don't quite see any issue here.

WF's systems are not programmed to apologize or automatically waive fees simply because he failed to meet the account requirements.

All he had to do, was to either change the account type, or if he prefers, to move banks. And he did. Problem solved.

I'm not commenting on the closing of his credit card part because that's really his own preference. There's no right or wrong with regards to that.

Each bank account type has its own perks (i.e. free checks, free international wire, etc), but they also have their own requirements to meet in order to maintain those "free" services. If he prefers to deal with another bank entirely, nothing is wrong with that either.

The only thing that I don't think is right is that I really don't think it's WF fault that he's being charged any fees simply because he has the wrong account type. That's like someone complaining about US Bank charging them fees simply because they fell below 10k deposits required for the platinum checking. Rather than to meet the account requirements, he/she somehow still feels that its unfair US Bank requires a 10k deposit balance in order to waive any fees, and that US Bank should offer the account unconditionally for no fees. 

[jre]

enharu more eloquently described what I said. I was not launching a personal attack, but merely giving the OP a reality check and a little guidance that in the end he must understand the relationship is a business one and therefore, he must understand the contours of the business relationship.

In the end, I agree with OP that no fees should be charged for standard checking accounts. However, we must play the hand we are dealt.

[mongstradamus]

I don't think its an issue with WF in particular , its all brick and mortar main stream banks that charge you little fees here and there if you don't direct deposit enough or you don't have 1k min balance in their checking account. 

[navigatethis12]

Credit unions charge fees just like banks do. If you dont want to be charged, do as they ask. You can thank the CARD Act for all of this nonsense with chequing account minimum balances and fees.

[Jungook]

Again, WF did not treat the OP correctly so he no longer does business with them. 

Simple as that, this is a non-issue.

[enharu]

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@Jungook wrote:

Again, OP did not meet account requirements and was charged a fee that he knew he was going to be charged for not meeting requirements. Instead, OP thinks WF did not treat the OP correctly simply because they did not apologize for charging the fee, and/or automatically waiving the fee, so he no longer does business with them. 

Simple as that, this is a non-issue.

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Fixed.

Not trying to be rude, but that's probably more factual.

[Dustink]

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@jre wrote:

I'm sorry I just don't understand your frustration. Most banks charge a service fee for checking accounts and give you many different options to waive the fee. I have Wells Fargo checking so I know they offer many options to waive the fees.

In your case, you didn't meet the required number of debit card transactions for the statement period. It's as simple as that. Take some responsibility and don't act like a child would by ranting and raving. Release yourself from this notion of entitlement. Life will be so much more simple.

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Being required to use a debit card 10 times per month is rediculous.

Some people may like jumping through hoops to give somebody business. 

OP and other's feel being a customer means the bank work's for you, not the other way around.

[navigatethis12]

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@Dustink wrote:

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@jre wrote:

I'm sorry I just don't understand your frustration. Most banks charge a service fee for checking accounts and give you many different options to waive the fee. I have Wells Fargo checking so I know they offer many options to waive the fees.

In your case, you didn't meet the required number of debit card transactions for the statement period. It's as simple as that. Take some responsibility and don't act like a child would by ranting and raving. Release yourself from this notion of entitlement. Life will be so much more simple.

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Being required to use a debit card 10 times per month is rediculous.

Some people may like jumping through hoops to give somebody business. 

OP and other's feel being a customer means the bank work's for you, not the other way around.

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 chrisw1968uk knew the requirements and chose not to meet them. Whether people agree with the requirements or not doesn't matter. If this was some hidden thing that Wells Fargo never notified anyone of, then that would be different. It makes no sense to know what you have to do, not do it, and then complain about it. They can close the account and move all they want, but to pretend that Wells Fargo did something wrong here is what's ridiculous.

[azguy13]

I feel like we are getting way off topic here. It is a good reminder though to read up on account requirements from time to time to remind us on what we do or do not have to meet. 

[enharu]

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@Dustink wrote:

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@jre wrote:

I'm sorry I just don't understand your frustration. Most banks charge a service fee for checking accounts and give you many different options to waive the fee. I have Wells Fargo checking so I know they offer many options to waive the fees.

In your case, you didn't meet the required number of debit card transactions for the statement period. It's as simple as that. Take some responsibility and don't act like a child would by ranting and raving. Release yourself from this notion of entitlement. Life will be so much more simple.

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Being required to use a debit card 10 times per month is rediculous.

Some people may like jumping through hoops to give somebody business. 

OP and other's feel being a customer means the bank work's for you, not the other way around.

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It is, which is why he should have changed the account type.

Chase has such requirements for their most basic account tier too. If I am not wrong, it is 6 or 8 debit transactions each month. On the plus side, accounts of these types usually have no minimum balance requirement. Most accounts with the TBTF banks have some sort of minimum balance required, and this "minimum transaction count" is just an alternative they're offerring to skirt around those rules for those who cannot maintain a minimum balance.

With 6k in deposits, he could have changed to other account types easily. WF has accounts that start at about 1.5k minimum balance w/o any transaction count requirements.