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by jermaustin1 2130 days ago
A similar thing happened to my wife, from the age of like 12 she had a wells fargo savings account, her mother would deposit $50 each time her father paid child support. It was supposed to be an account that when she graduated highschool and went off to college she would have some money for random things. She and I met during Junior year of high school, and moved in to a shitty apartment near her college at 18, thinking that she had some money to help with the deposit. I paid everything first, then she was going to pay me back.

Turns out her mother had been depositing the $50 each week automatically until she was about 17, but was also randomly over the years withdrawing nearly all of it. And at the time she went in, she was -$240 on the account, and they wouldn't allow her to close it until that was paid off, and they were going to continue feeing her $20 each month for having less than the required amount. By the time we finally had the income available to close the account it had accrued around $1000 in fees.

And yet, for some stupid reason, I am still with Wells Fargo today, 15 years on...

2 comments

> And yet, for some stupid reason, I am still with Wells Fargo today, 15 years on...

Why?

I hate to rub salt in your wounds, but they have demonstrated that they are unworthy of your business. Acting on this would play a small part in forcing them to either change, or else go out of business.

When I was younger I worked for a wells fargo joint venture that did credit investigations related to mortgages. To this day I'm convinced that the way they set up their QA policy was deliberately designed to enable fraud. I most definitely would not do business with them.
Can we help you get out? I've personally opened accounts with all the popular online banks like Ally, SoFi, Simple, Schwab, Marcus, etc. If you have any questions I'd be very happy to help you leave WF. At the very least you'll have no account fees, way better customer service, and a decent interest rate.
I have bank accounts at almost every major bank in the US, including online banks, but WF is still my primary account. There are just so many services that do a direct debit that make it hard to switch off of. I use privacy for a lot of things now, but the handful of things that need direct debit I just use my wells fargo account.