"Why Does Wells Fargo Still Exist?"

[Anonymous]

This article is certainly eye-opening. What do you guys think about it? Let me know.

Article: https://www.huffingtonpost.com/entry/why-does-wells-fargo-still-exist_us_5b80148ee4b0729515126185

[DaveInAZ]

Good question.

I tried to bank with them in 1999 when my employer relocated me to their Las Vegas office. I made a scouting trip there, apartment hunting, etc., and signed a lease for an apartment. Then I opened an account at Wells Fargo using that address, opened in branch with a cash deposit. When I got home I tried to login on WellsFargo.com to find the account was frozen. So I called in, got transferred around and finally ended up in the fraud department. The rep said they had a previous account with that address that bounced checks. I said "well, whoever that was wasn't me", and explained that I had just rented the apartment as my employer was relocating me to Vegas. The rep said that to un-freeze my account I needed to mail them copies of my DL & SocSec card, and a letter from my employer confirming my relocation to Las Vegas and detailing my position with the company, and a copy of my lease for the apartment. I told her "You must be joking? Just because someone who wasn't me rented that apartment sometime in the past and wrote bad checks??? I'm not sending you any of that". She replied "Well, until you do the account will remain frozen" and hung up on me.

After I moved to Vegas I stopped by the branch, it took almost an hour with me saying louder & louder "It was a cash deposit, here is my receipt and here is my ID proving it was me who made the deposit, I'm not leaving until you give me  my money back and close the $%#! account!"

That was almost 20 years ago, they haven't gotten any better, I don't know why anyone would want to do business with this miserable excuse for a bank.

[Anonymous]

disstreetcoolkid200 ... what a story! Knew some of it and seeing the bigger picture set forth in the story is overwhelming! My niece it is very high in the Wells Fargo Bank organization and it is hard for me to know all this and keep my mouth shut. She was one of those people picked up in another bank merger several years back and older by definition (she is stuck like a fly on fly paper). So I have "packed up my old kit bag" and took a hike when I caught the bank on some issues.

[Anonymous]

Interesting read, much of it I’d heard before. I’ve never been a WF customer nor had any of their products. Whenever tempted I shy away due to reputation, and quite frankly they have no products that are better than my current products. The newly dusted off Propel piqued interest, but not enough. Cash Wise originally caught my attention until I found so many more and better products. WF doesn’t offer preapprovals and doesn’t seem loyal to their customers and also doesn’t seem to evoke much customer loyalty. At least not here on this forum. Clearly they have a LOT of business and scam a LOT of people though. I guess there never has been or will be a shortage of rubes.

[Anonymous]

I was excited for the Propel card when it came out and even made steps to make a Wells Fargo bank account to better my chances in getting the card. I’d seen some users here mention WF’s reputation, but nothing in depth. A few weeks ago I finally googled WF’s history and was really surprised how much they got away with and really, what an awful bank they are. I am no longer planning to do any business with them and I have deterred others from doing so.

[Anonymous]

The TOS verbiage about it not working with mobile wallets turned me off the Propel card. It was a sign that they are still stuck in the past.

[arkane]

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@Anonymous wrote:

I was excited for the Propel card when it came out and even made steps to make a Wells Fargo bank account to better my chances in getting the card. I’d seen some users here mention WF’s reputation, but nothing in depth. A few weeks ago I finally googled WF’s history and was really surprised how much they got away with and really, what an awful bank they are. I am no longer planning to do any business with them and I have deterred others from doing so.

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Actually what you should do is milk their accounts/cards for all their worth, then promptly shutter them when you've milked their bonus dry.

I know that's I'd do if I ever (by some astronomical lapse of judgement) got the Propel card. I'd hit that $3k spend solely by funding new bank accounts with the card. Then once the SUB posts, cash out, and call in to close the card. A bank like WF does not deserve to make any money off of their customers.

[Anonymous]

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@arkane wrote:

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@Anonymous wrote:

I was excited for the Propel card when it came out and even made steps to make a Wells Fargo bank account to better my chances in getting the card. I’d seen some users here mention WF’s reputation, but nothing in depth. A few weeks ago I finally googled WF’s history and was really surprised how much they got away with and really, what an awful bank they are. I am no longer planning to do any business with them and I have deterred others from doing so.

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Actually what you should do is milk their accounts/cards for all their worth, then promptly shutter them when you've milked their bonus dry.

I know that's I'd do if I ever (by some astronomical lapse of judgement) got the Propel card. I'd hit that $3k spend solely by funding new bank accounts with the card. Then once the SUB posts, cash out, and call in to close the card. A bank like WF does not deserve to make any money off of their customers.

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Quite honestly I wouldn’t mind doing this but for the fact WF was actually creating new credit and debit accounts without their customer’s knowledge or consent. I wouldn’t trust them with any of my information!

[Anonymous]

The WF hot air balloon at the Abuquerque balloon fest is really pretty cool!