Wells Fargo

[Blue2010]

This is just getting crazy.

http://money.cnn.com/2016/09/21/inv...-workers-retaliation-fake-accounts/index.html

I used to be a Wells Fargo customer, grandfathered in when they bought out Wachovia. They botched the conversion to WF for my account personally, but I was lazy and never switched. But earlier this year, I had financed a new purchase, with WF being the bank that backed the financing. Wanting to lower the amount of overall debt I had, this past May, I went into the branch and worked with one of the managers to pay off the balance -- she literally called the finance department to confirm the amount due. I wrote a check on the spot, got confirmation that it was zeroed out, and even confirmation that the account was closed.

Fast forward to literally just 4 weeks ago, I get a notice in the mail that my account is 60-days past due with a $400 balance owed. After properly "putting them into their place" this was rescinded and they updated my credit report, but I felt even then that there was some shadiness going on. And now this story breaks...

Needless to say, will never do business with them again.

 

[Hark_The_Sound_2010]

The only time I've had an account with them was, similar to you, when financing a purchase. I bought some furniture a few years ago, and the place offered interest free financing through wells fargo for 12 months. I could have paid it off when I made the purchase, but figured I'd take the interest free period. I did the same thing with another furniture purchase from the same place last year. Luckily I (at least to my knowledge) haven't had any issues like this with them though. But I was never really a fan because their web interface sucked, and they also never properly notified me of due dates and things of that nature so I had to make sure to keep track of the details myself.

 

[Louigi]

Their head of investments call me at least 3 times a week trying to recruit me. I spoke to him yesterday and ribbed him a little about the congressional testimony yesterday that was gold. I would never go to work for that firm.

 

[tarheel0910]

I would never go to work for that firm.

I worked over there for eight years. You're making the right decision by not going over there.

 

[gunslingerdick]

They give my organization over $10k a year. I have no beef with them.

 

[tarheel0910]

They give my organization over $10k a year. I have no beef with them.

They are good about donations, but unless you are looking at a huge paycheck I don't recommend it as a place to work.

 

[Blue2010]

Trying to keep this as general as possible, here's my issue:

I had my personal account with Wachovia, which Wells Fargo bought out years ago. When I financed a purchase for the 12-month, 0% option (like Hark mentioned), I just set up the automatic transfer to occur every month, evenly over the 12 months.

I started noticing a major lag in the time it took for payments to post. For example, let's say I set up the transfer on the 1st each month. Those funds would correctly pull from my checking account on the 1st every month...but it usually took 2-3 weeks (yes WEEKS) to post on the credit account side. It was very odd, to me, given both accounts are Wells Fargo-owned.

We are in the process of buying a new house, so I wanted to lower my debt:equity ratio, and went in to just pay off the balance on the account. So, rather than "trust" their systems to give me an accurate number, I physically had the branch manager call their credit department to confirm the amount owed. I paid the entire balance off, and had them close the entire account on the spot.

Thinking everything was done, I wiped my hands of it. This was in May. I hear NOTHING from them further. Fast forward to earlier this month (September)...my wife (who has no connection with this account at all -- she was not joint on it, ever) gets a call from Wells Fargo with an "urgent message regarding a personal matter." Bear in mind, we have received no mail, and to this point, no calls either. Completely out of the blue.

So, I simply go back to the same branch manager who I worked with before, and she has the full "deer in the headlights" look, completely dumbfounded. We call the finance department on the spot again, and they claim that another $400 is due, but "as a courtesy they will waive the late fee." By now, my credit score has been docked 80 points by these assholes, right as I'm trying to get funding for a house.

So...we had a nice heart-to-heart and the issue was resolved. But it scares me to think how much "free money" they get from scare tactics like this against people who don't have a backbone. I'm sure they rob the elderly blind with this crap. I will never do business with them again. Trust = Gone.