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Well Fargo idiosyncrasy.

Valued Contributor

Well Fargo idiosyncrasy.

I recently signed up for the WF checking account and obtained the bonus. I have no desire to keep the account open, so I want to transfer all funds out of it to my Capital One 360 Savings. 

 

So yesterday I go to connect my Capital One account, and have to verify the two trial deposit amounts that WF has deposited to them. This morning I get an email from Capital One telling me that Wells Fargo has pulled money from my account. This means it only took one day for them the post then pull the trial deposits. I think that's great, because I don't like waiting 3-5 business days to transfer funds. 

 

I log into WF this morning  and verify the trial deposit accounts, and my accounts are connected. I then initiate a transfer from my WF checking to Capital One savings. It says it's going to arrive on March 22nd. Huh? 

 

So they have the capability of sending and pulling deposit amounts in one business day, but when I go to make a transfer it's going to take a week? Makes absolutely no sense to me. SMH at Wells Fargo...



Starting scores: 552 EQ, 570 TU, 558 EX Current scores (9/29/17): 746 EQ 721 TU 719 EX
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Super Contributor

Re: Well Fargo idiosyncrasy.

You have had company! When I closed out my non-graduating Wells Fargo Credit Card, it took them 45 days to refund my $5,000. When I closed my checking and savings they took eight days and reminded me to read the deposit account rules. Yeah I did that is part of why I left them.
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Valued Contributor

nfs

Maybe the length of time is just for the first transfer?

 

When I set up a new account (to transfer funds to/from), the initial 2 small deposits happen pretty quickly by the bank.  Once the account is verified, the very first transfer I do does take longer (up to a week or two) to be "completed".  After that successful first one, then the rest are completed within 2 business days usually.

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Valued Contributor

Re: nfs


IOBA wrote:

Maybe the length of time is just for the first transfer?

 

When I set up a new account (to transfer funds to/from), the initial 2 small deposits happen pretty quickly by the bank.  Once the account is verified, the very first transfer I do does take longer (up to a week or two) to be "completed".  After that successful first one, then the rest are completed within 2 business days usually.


I'm just being impatient. There won't ever be a second transfer from this account, so I won't have another datapoint for comparison, lol. I opened it purely for the bonus, since Wells Fargo is one bank I prefer to not do business with. They treated me like a criminal when I tried to make a cash withdrawl, and after two years wouldn't unsecure my $500 Visa card. If you look at my signature, you can see I've moved on from them Smiley Wink



Starting scores: 552 EQ, 570 TU, 558 EX Current scores (9/29/17): 746 EQ 721 TU 719 EX
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