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Valued Contributor
p-
Posts: 2,655
Registered: ‎06-05-2008

Re: A letter to Wells Fargo's Social Team-


Booner72 wrote:
I do my mortgage auto-draft through WF and it's been a year and no problems. In fact, I'm quite impressed with the mortgage department over there at WF, even though I would never open an account willingly with them. I'm a credit union gal.

I'm a little too OCD for Automatic drafts, especially for an amount that large in an account with no direct deposit.  They offer a ten day grace period, but the reality is I normally pay a few days early.  It's just nice to know that if I'm on vacation and get my check late, or don't make it to the bank, the bill goes out when I want it to.

 

I did allow an auto-draft with my USAA car payment, but that's only 400 bucks, and I got a .25 rate discount for doing it...  and I can end it at any time.

12-15-14: FICO EXP: 813 - EQU:802 - TRAN: 756 - AVG: 790 +240 points from JUN 2008 - MY CREDIT JOURNAL

Valued Contributor
p-
Posts: 2,655
Registered: ‎06-05-2008

Re: A letter to Wells Fargo's Social Team-

UPDATE---------

 

I have now closed 4 of my five accounts with Wells Fargo, and with each message I sent, I told them to contact me if they wanted to know why I was closing them.  No response.  I'll close the last one when wifey's direct deposit finishes moving over to USAA.

 

USAA seems to be working out well, but a word of warning; they put a 5 bd hold on my paycheck the first time I used Deposit@Mobile.  I called, and they said they do that with everyone at first, and after a while they stop holding at all.  

 

That would have been nice to know.  Luckily I had money in savings, so I cleared my own check and reversed the transfer when my check cleared.

 

One nice thing about USAA billpay; they don't take the money out of your account until the billpay actually clears.  I have checks I sent a week ago that are still not cleared from my account.  Almost like I used a real check.  Nifty.

 

And thier mobile app has a deal where you can add transactions, like a check you write and have it immediately show on your available balance.  That's a nice way to run an electronig check register.

 

All-in-all, as annoyed as I was about the delay in clearing my check, everything else has been nice.

12-15-14: FICO EXP: 813 - EQU:802 - TRAN: 756 - AVG: 790 +240 points from JUN 2008 - MY CREDIT JOURNAL

Regular Contributor
xwill04
Posts: 162
Registered: ‎11-13-2012

Re: A letter to Wells Fargo's Social Team-

[ Edited ]

Sorry to hear about your experience at WF.


I am a banker, we actually do have 2 accounts that would be free.


A preferred checking account is free as long as you have a linked mortgage.. No auto pay necessary.


PMA premier checking package for  50k in credit balances (only 10% of mortgage balances)

 

Every bank has their own strengths and perks

 

Hope all is well with USAA



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Valued Contributor
p-
Posts: 2,655
Registered: ‎06-05-2008

Re: A letter to Wells Fargo's Social Team-


xwill04 wrote:

Sorry to hear about your experience at WF.


I am a banker, we actually do have 2 accounts that would be free.


A preferred checking account is free as long as you have a linked mortgage.. No auto pay necessary.


PMA premier checking package for  50k in credit balances (only 10% of mortgage balances)

 

Every bank has their own strengths and perks

 

Hope all is well with USAA


Thanks for responding.  Would you believe that you are the only person from Wells Fargo to weigh in?  When I called customer service after the account terms changed, they told me that my custom management account was free with a linked mortgage.  But I incurred a fee anyway.  I called, and was told it was an error and the fee was waived.  A month later, I was charged again.  This time the rep told me that the linked account had to auto-pay in order to waive the fee.  

 

I spent considerable time with them trying to figure out an acount type that would not have a fee, and was told that it wasn't possible. I even talked with a supervisor. Is the preferred checking a new product, or did the customer service team just miss the boat?  

 

Regarding USAA; I've been happy with them so far.  I still use Wells Fargo ATM's for cash withdrawal, as USAA reimburses my fees.  I love the mobile app; I used to run to the bank at the end of the day on payday to try to get my check to post before the weekend.  Now, I deposit it mobile and it clears instantly.  

 

I'm sure there are benefits in having a physical location that you can walk in to.  I am still a member of a local credit union, and can walk in there, but honestly never have.  This virtual banking thing is working out great so far.

12-15-14: FICO EXP: 813 - EQU:802 - TRAN: 756 - AVG: 790 +240 points from JUN 2008 - MY CREDIT JOURNAL

Established Contributor
demi
Posts: 852
Registered: ‎09-18-2007

Re: A letter to Wells Fargo's Social Team-

I have mortgage, visa, savings and checking thru Well Fargo, no banking charges, have the PMA account.  I do have direct deposit, but I have not been using the auto mortgage.  I know a lot of people don't like Wells, but I have never had a problem with them...have had my checking account with them since first year in college, 30 years ago.  I am no angel :womanwink: when it comes to finances...was a lot worse in the college days, am I can't say they have never done an overdraft fee, etc...but never has it been other than my stupidity.


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Valued Contributor
p-
Posts: 2,655
Registered: ‎06-05-2008

Re: A letter to Wells Fargo's Social Team-


demi wrote:

I have mortgage, visa, savings and checking thru Well Fargo, no banking charges, have the PMA account.  I do have direct deposit, but I have not been using the auto mortgage.  I know a lot of people don't like Wells, but I have never had a problem with them...have had my checking account with them since first year in college, 30 years ago.  I am no angel :womanwink: when it comes to finances...was a lot worse in the college days, am I can't say they have never done an overdraft fee, etc...but never has it been other than my stupidity.


Yup, I was always happy with them too.  I think the last overdraft fee I paid was somwhere around 2002; they've never done me wrong, except when they went all funny about upgrading a secured card to a regular card... But I hear that policy has changed.

 

Unfortunately, my employer does not offer direct deposit, and I couldn't justify paying the fees when I had another option.  

12-15-14: FICO EXP: 813 - EQU:802 - TRAN: 756 - AVG: 790 +240 points from JUN 2008 - MY CREDIT JOURNAL

Frequent Contributor
E150GT
Posts: 371
Registered: ‎12-30-2012

Re: A letter to Wells Fargo's Social Team-

I have preffered checking that is free because it is tied to a mortgage. I do have auto deductions but I just decided to do that and I never got a charge before I did it. Having said that, my wells fargo checking is just a method of paying said mortgage and all of my banking is done at USAA. They are by far superior. DId you know wells fargo was going to charge me $3 to send my money to USAA via their online banking? I went to USAA's sight and did it there for free, 


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Valued Contributor
p-
Posts: 2,655
Registered: ‎06-05-2008

Re: A letter to Wells Fargo's Social Team-

[ Edited ]

E150GT wrote:

I have preffered checking that is free because it is tied to a mortgage. I do have auto deductions but I just decided to do that and I never got a charge before I did it. Having said that, my wells fargo checking is just a method of paying said mortgage and all of my banking is done at USAA. They are by far superior. DId you know wells fargo was going to charge me $3 to send my money to USAA via their online banking? I went to USAA's sight and did it there for free, 


Nifty.  I've been very happy with USAA's banking products.  I even pay my Wells Fargo mortgage with my USAA billpay.  It posts in one busienss day.

12-15-14: FICO EXP: 813 - EQU:802 - TRAN: 756 - AVG: 790 +240 points from JUN 2008 - MY CREDIT JOURNAL


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