Premier banking w/ Wells Fargo?

[BronzeTrader]

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@Gregory1776 wrote:

I had been wanting to leave PenFed behind for years now, opened a checking account with Wells Fargo whom gave me a better limit on my AC, and for the bonus. 

what kind of benefits other than advertised do they give you with the premier checking tier? Customer service/ care wise, short wait times if I have to call, that's usually what I look for with my banking and don't feel like I got any of at PenFed. 

I vastly prefer smaller especially local credit unions but there aren't any near me so some kind of big bank will be my option. Chase, Bank of America, PNC are other options I am considering. US BANK too with this new CC coming out.

Edit: i am also considering the 20,000 balance tier, with 50-60% of my balance in a CD or something and the rest in checking for expenses. I can't not earn $0 a month. And I am not close to 6 figures at this time.

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Wells Fargo has two top tiers.  One is the Prime relationship with $20k+.  The other one is Premier with $250k+.  Its Private banking is a different tier.  Not sure how much the minimum is.  Maybe $1MM+.  All those can be combination of banking and investments.

To a lot of people with some IRA assets, it is very easy to move $$$ from Fidelity and Charles Schwab to WF.  WF WellsTrade is very under-rated.  It is not for active trading, but it is more robust than Chase YouTrade and Citi self directed investment.  You can park your investment and enjoy the WF banking relationship.

WF Premier is at the same level with Chase Private Client and Citigold relationship.  But WF's strength is on its WellsTrade.  It has few limitations as the other two.

To me, BofA Preferred Rewards and WF Premier banking are the top two premier banking offers.

[Gregory1776]

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@BronzeTrader wrote:

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@Varsity_Lu wrote:

I am genuinely curious as to why anyone would do business with Wells Fargo. They made the news again this week with a hefty fine for their corrupt behavior. For most of my adult life (25+ years) they have shown time and time again that they have no interest in acting ethically. With literally hundreds of other options out there, what is it about WF that attracts customers?

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I've been a Wells Fargo customer for more than 20 years.  It is one of the best banks I've banked with.  I do not read all the headline news.  And all the junk people threw at WF.  Sure WF has some problem here and there.  Other people's experience does not affect me.  I'd advise people not to get carried away by all the headline news.  

To me, WF always does ethically.  And professionally.  I'll continue to bank with them.  If things do not break, just continue.

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Yeah i honestly dont care about the news. the only time something good happens is something something luigi. theyre all evil at the top. fill in the blanks; i dont want to get kicked off here. The app works. thats so much better than penfed (7-8 years with them)

[creditrizz]

Wondering what kind of perks you get w wells fargo premier 250k in assets?  I saw you received some credit card reward upgrades but couldn't find any details on exactly what. 

The recent increase in bank loyalty program competition for the "mass affluence" customers is great

[BronzeTrader]

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@creditrizz wrote:

Wondering what kind of perks you get w wells fargo premier 250k in assets?  I saw you received some credit card reward upgrades but couldn't find any details on exactly what. 

The recent increase in bank loyalty program competition for the "mass affluence" customers is great

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The "perks" we receive as a premier customer are mainly the personal touch.  Basically you are assigned a "advisor" and get more premium services.  You do not have to wait for 30 minutes to reach a human to take your call.  You can just call your personal bankers or even send an email.  Then they do their work.  Much faster.  

This is the same with BofA/Merrill, Chase Private Client.  Not sure about Citgold since there is no local branches.  That defeats the whole purpose of personal services.

A lot of people have money parked at Fidelity and Schwabs.  They hardly offer anything.  There is not much local branch.  That is the main catch.