Wells Fargo - How not to do Business

Penn · 12-01-2015, 08:13

Checking my balance I noticed this charge: CASH DEPOSITED FEE $12.60

A fee for making a cash deposit with a teller inside a Wells Fargo branch? YGTBSM

Closing the account today!

bandycpa · 12-01-2015, 09:35

Had a similar issue here with another large bank. From January-April, we make many more deposits than we do during the rest of the year. The bank started charging us for making too many deposits. Yep, we got charged for putting money "in" the bank...which they made interest off of I'm sure.

Needless to say, we changed banks too.

**Roguish Lawyer** · 12-01-2015, 15:18

The Federal Reserve created this problem, and many others, by artificially lowering interest rates to near-zero levels. Because of this and the Obama Administration's imposition of massive costs on banks through over-regulation, banks are LOSING money on your deposits, not making money as you assume.

JSMosby · 12-01-2015, 15:50

I closed both my business accounts with Wells Fargo. Too expensive across the board for what should be basic services. I do agree that the USG meddling in banking contributes to some very bad practices.

12-01-2015, 16:58

Fees for making deposits (cash or check) in Business Checking Accounts are nothing new...I remember paying them back in the '70s.

Bleed Green · 12-01-2015, 22:21

On a positive note, rest assured that is a small price to pay compared to the scam that they allowed to empty my accounts. Between them and my Discover being rung up and them paying off the card after it was maxed out several times by somebody who hacked Discover it was an eye opener. The Wells rep was rather shocked when they asked if I wanted to prosecute the perp if they were caught and I asked her if execute was an option.

1stindoor · 12-03-2015, 07:22

Quote:

Originally Posted by Bleed Green

... The Wells rep was rather shocked when they asked if I wanted to prosecute the perp if they were caught and I asked her if execute was an option.

Had to laugh at that as I had a similar incident two weeks ago. My credit card number was "stolen," and I had about $200.00 in charges in Texas while I was in VA. Talking to the bank they asked the same asinine question. I told them that they should prosecute before I can find them..."and put bullets through their knees and elbows."

Bleed Green · 12-03-2015, 11:52

That almost sent the morning coffee shooting out at the screen. I was kind of thinking in my execution strategy of walking 22 shorts up from the ankles myself. My whine with WF was that they tried to rob my account of 4,500 to partially pay off the 25K that they ran up and wells denied them 2 times in the first 2 hours of trying then WF just waved the red cape and started screaming Ole.