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Wells Fargo Second Chance Checking Account

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Anonymous
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Wells Fargo Second Chance Checking Account

Morning All =-)

 

Alright, so last year, I opened a Wells Fargo Second Chance Checking Account. Fast forward the beginning of this year, before deciding to work on my finances, I was over-drawn on my account... Like $330ish..... Around July, they ended up closing my account (checking and savings). I made payment arrangements (on phone), was looking forward to getting arrangment info in the mail.... never came. I have gone this whole time without taking care of the matter and plan on doing so next month (Nov). 

 

During the past few months, I initially trying to bank with Capital One 360, was denied. Just read a post, on here, about people freezing their Checksys then reapplying, after being denied, and being approved. Do you think if I do the same thing it will work?

 

For the time being, I have been using Gobank and Simple for my banking needs. I also plan on opening a money management account with TD Ameritrade next month. 

 

Ultimately, I would like to be able to bank again with Wells Fargo, absolutely LOVED THEM. I expect, if given the chance, I will have to do a Second Chance Account again... Do you think they will even give me another chance once the debt is paid?

 

THANKS IN ADVANCE FOR ANSWERING MY QUESTIONS... EVEN IF YOU CAN ONLY ANSWER ONE OF THE MANY, I SINCERELY APPRECIATE IT. 

Message 1 of 16
15 REPLIES 15
Anonymous
Not applicable

Re: Wells Fargo Second Chance Checking Account

Looking at your own track record ... as Wells Fargo, would you do it again?
Message 2 of 16
Anonymous
Not applicable

Re: Wells Fargo Second Chance Checking Account

#Understood 

Message 3 of 16
Anonymous
Not applicable

Re: Wells Fargo Second Chance Checking Account

For reference ... I had a Wells Fargo set of accounts and loved them too. They would not extend me credit no matter what so I moved on and closed everything (checking, savings, investments, CD's secured, loans, insurances and secured credit cards). Faced with what to do. Obtained and online banking relationship for earning more money and to make it less tempting to grab the funds whenever (Emergency Fund) and went to a credit union and got a restart. Yes, I lost everything in a business failure and had a BK7. In summary Wells Fargo did not like my profile (took me a couple of years but I finally figured it out).

Message 4 of 16
Anonymous
Not applicable

Re: Wells Fargo Second Chance Checking Account

Thanks for sharing. I had YEARS AND YEARS before been with BoA, (checking, savings, CD)... But due to horrible customer service, closed everything. Had no accoutn for YEARS (like 8), then went with Wells Fargo. I believe the gave me a Second Chance Account, instead of a regular account, because of my credit, as well as the fact that I had not had an account for so long (nothing in chexsys, etc.). 

Message 5 of 16
Anonymous
Not applicable

Re: Wells Fargo Second Chance Checking Account

My question is...? How do people who are "unbanked" suppose to get into a bank? Re-start or new start ... after reading your post it struck home and with all the credit bureaus and others watching our lives, how do we even know where to go to do what may need to do? myfico is where I learned so much and then I turned into a mail person biting dog and went after six bureaus. Took lots of patience and time but ultimately everything was set right and my scores took huge jumps. Also, I could obtain banking where I felt it worked for me. Do understand your situation. Some posters have had quick luck on recovery ... for me it took from 2001 to 2009 to even qualify for lower tier credit cards by major banks. A hard road to hoe. Today, I am all over my credit and check my reports with the result that it has worked. Oh. almost forgot, Wells Fargo is very strict and in my experience unforgiving so I moved on. In your case I can only speculate that it may be difficult (not impossible) but you may need to try many different ventures to re-establish yourself.

Message 6 of 16
Anonymous
Not applicable

Re: Wells Fargo Second Chance Checking Account

Thanks Spider =-)

Message 7 of 16
UncleB
Credit Mentor

Re: Wells Fargo Second Chance Checking Account

Here's what I would do... since it's a relatively small amount and you agree that the money is owed, I would go ahead and pay it.  Once the old account is settled, it's possible they will give you another chance with a 'Second Chance' account - there's nothing to lose by trying, and you can even try online when the time comes if you're not comfortable applying in a branch.

 

Even if Wells Fargo doesn't give you a new account, by paying the past fees you'll clear up that entry on the various bureaus (ChexSystems and EWS), which will help your chances elsewhere.  There are banks that will consider you with past negative history as long as you made the previous bank 'whole' and your fees were related to NSFs.  If your problem was 'fraud' related that could continue to be an issue for other banks even after paying, though.

 

Good luck! 

Message 8 of 16
Anonymous
Not applicable

Re: Wells Fargo Second Chance Checking Account

Thanks UncleB. I plan on paying the balance this month and talking to a branch manager (as instructed by the WF Overdraft Department Rep). I was told they can override any system denials, if they feel it's acceptable. I hope that with the payment and an increased credit score (was below 500 when I originally applied), they will grant me another chance with their second chance account. Finger crossed... Will post when the time comes. 

 

Thanks again for the advice everyone. You all are, and this forum is, an invaluable resource in my efforts to take financial responsibility for my life and improve my financial health. 

 

Happy Monday from Brittney from Cali (Currently visiting NV). 

Message 9 of 16
Creditfan1234
Contributor

Re: Wells Fargo Second Chance Checking Account

Good luck! Wells Fargo is a good bank and with their DDA accounts are more forgiving then when it comes to credit when you owe them money.

One thing I will let you know, don't be disappointed when the store manager can't override the account denial. That normally has to be escalated past the store manager now days to get approved.

Message 10 of 16
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