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I would do this in a heartbeat if it was any other bank. WF made me feel like a criminal for trying to get access to my own money. Coupled with a long string of bad customer service incidents, I had to get away from them.
It's been difficult, because everyone I know banks with them, so transferring money used to be super quick and easy. Now, I have to educate people on how to associate an email address with their accounts, so I can send via email for free.
BoA has been a much better experience overall. Even though I didn't get any bonuses for opening my checking account with them, I'm happier with the free-er access to my funds.
The only thing I don't like about BoA is they are charging me a $5 fee for a replacement debit card. I might request a few free BBR replacements to get back at them.
@DaveInAZ wrote:@wasCB14 wrote:Good point about limiting what rogue employees can open. I chase banking/brokerage promotions, though, and often haven't needed to sign anything. For WF, it could be internal controls or a stricter adherence to regulations.Yeah, I tend to chase banking promos as well, this will be my 4th within 2 years, netting me $1K total with this one. But I've kept all the accounts open except for Chase, I had an axe to grind with them and closed the account right after the 90 day requirement.
I'm not sure I'll keep WF open after the promo, I don't see any minimum requirement for keeping the account open. Wells Fargo is very hard to like, I banked with them from 1999-2010, closed after repeated issues. The worst was when I lived in Las Vegas. I was rolling over an old 401k and ran it through my WF account. I go into my regular branch with a check for $42k. The teller looked at me like I was trying to rob her, and walks over to the manager without saying a word. They talk & keep looking up at me like they were trying to decide whether to call the cops. Teller comes back, doesn't say a word, and starts to make a phone call. I ask her what's going on & she tells me she's calling the other bank to make sure the check is good. I tell her I'm not cashing the check, just depositing it, and I expect there to be a hold on the funds, and my account has been open for 7 years with never any returned items or any other issues. She says the manager told her to call & make sure the check was good before she could accept it & give me a deposit receipt. The other bank apparently tells her it is fine, and she hands me a receipt with a 10 business day hold on all funds. I question the 10 day hold, and she says it's a "special hold" for "suspicious activity". I ask "So, everyone depositing a sizable check is automatically suspicious?" She shrugs and looks past me at the person next in line, obviously wanting me to go away. Oh, and I don't know if all WF branches have this, but in Vegas tellers are behind a 1" thick obviously bullet proof Plexiglas barrier, not terribly inviting.
I imagine Vegas has more Bernie Maddoff wannabes than other cities, but not exactly the way to make your customers feel appreciated. I was going to roll the $$$ into a WF retirement account, I decided to roll it over elsewhere.
I can corroborate your Vegas experiences. Rude customer service, treated like a criminal, plexiglass windows - all very unwelcoming! My least favorite branch was on Green Valley and Sunset. An obviously-reformed drug user was the teller I usually got stuck with. She would treat everything I did as suspicious, like I was holding out on her
If that's how they treat customers who walk in with $42k checks, it's no wonder they don't get a lot of them!
That would probably be enough to drive me away as a customer. I've deposited comparable checks at Chase without a word or funny look. They were happy to let me deposit that kind of money into an account that paid virtually no interest!
I closed the account at Chase (I had enough accounts and promotions going on) but may go back.
Does anyone know if WF will accept the opening deposit from a credit card?
@Anonymous wrote:Does anyone know if WF will accept the opening deposit from a credit card?
Yes, they will.
@Hokies2379 wrote:
@Anonymous wrote:Does anyone know if WF will accept the opening deposit from a credit card?
Yes, they will.
FYI, maximum of $50 via credit or debit card. As I recall, max was $100 for ACH from a bank account (minimum of $25 to open account from any source). I wasn't sure if it would be charged as a cash advance on a CC & incure a fee & interest, so I used the debit card from my BoA account.
I hate banking with the big banks after my own problems with how they handled accounts and charged fees for everything. I do take some responsibility for being less informed though. However, with WF and Chase both giving these sign-up bonuses I'm going to open some new accounts and take their free money. ha
deebee, why are you not with a Credit Union paying for a debit card is absurd!! I just completed my 10 debit card transactions by reloading my amazon gift card balance with $1.01, $1.02, etc so it was a different amount in case their system tracked that too. Hoping that they credit me the $250 sooner than 45 days! I am gonna close this account as soon as I can without a penalty. Also I did get the paperwork in the mail to sign and mail back today too, super easy not a big deal. I already had online access and initiated an ACH transfer to hopefully get the Chase Bonus as well $550 here I come!
@Anonymous wrote:deebee, why are you not with a Credit Union paying for a debit card is absurd!! I just completed my 10 debit card transactions by reloading my amazon gift card balance with $1.01, $1.02, etc so it was a different amount in case their system tracked that too. Hoping that they credit me the $250 sooner than 45 days! I am gonna close this account as soon as I can without a penalty. Also I did get the paperwork in the mail to sign and mail back today too, super easy not a big deal. I already had online access and initiated an ACH transfer to hopefully get the Chase Bonus as well $550 here I come!
I am a sucker for being able to deposit cash. There are only a few local credit unions here in Reno, NV, and none of them have great products.
Nationwide big-business banks have their pitfalls, but for the most part I've been very satisfied with BoA.
Just a quick update for everybody with a DP confirming that this does work and it is not exclusively targeted, I just got credited $250!! Will be closing the account out in a few days.