Closing Wells Fargo

KLEXH25 · ‎08-03-2019

FINALLY changed my direct deposit over to DCU, but it happened instantly rather than over the two weeks I thought I had. So as I’m tying up loose ends, I’m wondering how long before Wells Fargo will charge me for not having direct deposit with them? My last DD with them was two weeks ago. I think I should be ready to close my account within a few days.

DaveInAZ · ‎08-04-2019

Wells Fargo like most banks assess any account fees on the statement date. Is your statement at the end of the month? If so then your DD covered you for July, and you have until the end of Aug. to close & avoid any fees. Easiest way to close the account is to drain it down to a $0.00 balance and then call to have them close, phone # is under Contact Us when logged in, and is 24/7. I closed mine last month.

Anonymous · ‎08-04-2019

Cowards ... desserting a sinking ship! Not very Navy like of ya

KLEXH25 · ‎08-04-2019

@DaveInAZ wrote:
Wells Fargo like most banks assess any account fees on the statement date. Is your statement at the end of the month? If so then your DD covered you for July, and you have until the end of Aug. to close & avoid any fees. Easiest way to close the account is to drain it down to a $0.00 balance and then call to have them close, phone # is under Contact Us when logged in, and is 24/7. I closed mine last month.

Ah! Ok, didn't think of that. My last statement was 7/18, and then I had my last DD on 7/23, so I should be covered this statement period as well. Thanks! It still feels weird doing this. I went to the ATM a couple of weeks ago and it wished me a Happy 20 Year Anniversary

Green456 · ‎08-05-2019

@DaveInAZ wrote:
Wells Fargo like most banks assess any account fees on the statement date. Is your statement at the end of the month? If so then your DD covered you for July, and you have until the end of Aug. to close & avoid any fees. Easiest way to close the account is to drain it down to a $0.00 balance and then call to have them close, phone # is under Contact Us when logged in, and is 24/7. I closed mine last month.

There should be a tab with check marks showing you whether you qualified free checking requirements.

As for ending your relationship with wells fargo... congratuations! I didn't have too many issues with them but got really annoyed when I called them for a 3rd time same day to resolve my issue and I got automated response: "please call back tomorrow." And of course all those times when I was a broke student and they charged me $8 monthly fee. They left a bad taste in my mouth.

Anonymous · ‎08-05-2019

@Green456 mmm got'ta love the $8 monthly charge! Some banks have special account rates for students and often times Wells Fargo gets a Branch in the college facilities ...hmm wonder who makes money off of that?

Used to have Wells Fargo and got along very well with their online and investing services but, they blew it and for me there is no going back. Hold grudges too!

DaveInAZ · ‎08-05-2019

@Anonymous wrote:
@Green456mmm got'ta love the $8 monthly charge! Some banks have special account rates for students and often times Wells Fargo gets a Branch in the college facilities ...hmm wonder who makes money off of that?

Used to have Wells Fargo and got along very well with their online and investing services but, they blew it and for me there is no going back. Hold grudges too!

I banked with Wells Fargo 1999-2009, they finally to me when a 2 yr. CD matured and they automatically rolled it over to a 3 month CD which after the 2008 financial crisis paid only 1/10th of 1%. So I call and the rep tells me if I want to change maturity I had to come into a branch, and within 2 days for the grace period for changing maturity. I had moved and the nearest branch was an hour and a half way, the rep just kept sternly repeating I had to come into a branch, like I was stupid or hard of hearing. So, I went to a branch and told the teller: "Close all my accounts and give me all my money".

This is the 2nd WF account I've opened in the last 3 years for a new bank account bonus, I close them as soon as the bonus hits. I've made $450 off them so fa -, I don't hold grudges, I get even.

KLEXH25 · ‎08-07-2019

I did it! I wrote myself a check for the balance with "Goodbye Wells Fargo" in the memo and then closed it over the phone this morning. I was worried they might put up some resistance, but they must be used to it by now.

I never personally had any major issues with them, but as a Financial Institute, they brought NOTHING to the table except they have many locations. But with the advent of online banking and HYSA, they no longer serve their purpose for me.