Do NOT bank with Wells Fargo
Written: Feb 05 '00 (Updated May 03 '00)
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Product Rating:
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Pros: your local banking branch next door to Wells Fargo
Cons: High fees, poor and unresponsive customer service
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| greenspj's Full Review: Wells Fargo |
The bank offers the customer a number of different options in terms of opening checking accounts. Some of these even claim to be 'free'. But look at a breakdown of the costs involved and compare them to smaller competitors in your neighborhood.
'Free' ATM use
For only $1 a month, Wells Fargo customers *get* to use Wells Fargo ATMs for free (yipee) as much as they want. Last time I checked $1/month does not equal free. Moreover, I have never, ever had an account with a bank where I had to pay to use my own bank's ATMs.
'Free' Checking
Their monthly fee on a standard checking account is $10/month, unless you maintain a certain balance and/or use direct deposit. HOWEVER, on any of their checking account options where there is no monthly fee, there is a plethora of other fees. Moreover, I have never, ever had a monthly fee on an account at any other bank.
Other Fees
No, one should never overdraw their account. And I never have. But these guys charge the highest fee in the industry, in my experience, for overdrafts, $30 per occasion!
Customer Service
You know - incurring fees by mistake, the banks or another party's, shouldn't normally be a problem. Because, typically, you call up customer service and they rectify the situation for you. However, the 1-800 number for Wells Fargo is either 1) eternally busy (where you get to talk to someone) or 2) entirely automated (where you talk to noone).
Additionally, when you do get to talk to someone in person, if your request is too difficult, or if you are a little irate due to problems caused by the bank, you are efficiently transferred to 'someone who might be able to help you better' which means either 1) eternal holding or 2) 'accidental' disconnection, followed by eternal holding when you call back.
Conclusion
Wells Fargo has the highest charges and the least responsive customer service I have ever experienced in the industry.
My recommendation is to go with your local small bank, than with this big boy.
Exception
You will occasionally encounter very helpful people here. But you will encounter them everywhere. Given the preponderence of evidence against banking with Wells Fargo, I would prefer to occasionally encounter helpful people elsewhere.
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New (Updated: 3/9)
See the new website about Wells Fargo www.rtd.com/~markh/wells_fargo_sucks.htm
This is not my website. It
was posted here for your further reference
convenience. I have no idea whose it is.
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Recommended:
No
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Epinions.com ID:
greenspj
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Location: Las Vegas, LV
Reviews written: 48
Trusted by: 60 members
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