Anonymous
Anonymous asked in Business & FinanceOther - Business & Finance · 1 decade ago

Wells Fargo, the worst?

I've opened a checking and a saving account with Wells Fargo a couple weeks ago. And on the statement, they charged me for the checkbook! Has anyone else has the same experience? That's MEAN!!!

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  • 1 decade ago
    Best Answer

    Most banks do charge you for checks. That's because the banks don't print the checks themselves, they have to hire an outside company to print the checks. They of course charge the bank, and the bank has to charge you.

    By the way, you aren't talking about that little plastic thing that they put the checks in are you? If that's what you meant, then yes, that is kind of mean.

  • 1 decade ago

    I don't know about their checking and savings but I do know, in general they charge, HIGH interest, and earn their money charging you to pieces. Many places offer free checking and savings. I suggest when you can, try one of those instead. Please note that usually if you close a new checking account before (normally) 90 days you will pay a hefty fee and with Wells Fargo, I'm sure you will.

  • 1 decade ago

    Skip the bank--go find yourself a well-established credit union. That does stink, but unfortunately, it's very common in the banking world.

    Here are some of the fees which friends of mine who use banks have been subjected to: $25 for a box of 200 checks (and they don't allow you to order checks from a private company, you have to go through them); $1.25 deducted from your account automatically if you go in the bank and deal with a teller; $0.75 deducted from your account automatically if you have to call customer service for some reason; $37 charge if you are overdrawn, and they don't even cover the bad check--they return it to you so you still have to deal with the merchant and pay his fees, as well; $50 if your balance accidentally drops below their minimum balance standards. Unfortunately I could go on and on.

    What many people don't know is that banks have investors and need to show a profit, so it is becoming more expensive to deal with them every day. Credit unions, on the other hand, are owned by the members themselves. Most of them are considered non-profit organizations, but the ones that don't qualify for that status still are chartered to only make money for their owners, the members. Another benefit is that interest rates on deposit accounts are generally higher and interest charged on loans are generally lower than those charged at banks.

    Large reputable credit-unions are insured by the Federal government just as banks are, so you are protected if something disastrous should happen, but those chances are lessened because the board of directors of any credit union are members themselves who serve in volunteer positions. Your charges and fees are much lower, the interest you earn is higher, and it's easier to get a loan. What's not to love?

    (My husband and I handle our finances through a credit union and have for nearly 20 years. We are charged $10 a year for our Visa credit card, and we pay $17 if we are overdrawn, and even then, our credit union covers the amount of the check and pays the merchant. We will never go back to a bank.)

    **Edit**

    I forgot to mention that Wells Fargo has an absolutely rotten reputation in the financial industry in the US. They bought our mortgage loan from someone else, and we had no control over that, but when it happened people told me to be extra cautious as they are notoriously bad in the customer service area, and they also tend to "lose" things like payments and credits to your account. If you stick with them, document everything and keep your receipts carefully organized so you have ammo if you need to dispute something!)

  • Anonymous
    1 decade ago

    I got so fed up with wells fargo i shut down all my accounts.... no body there would get off thier duff to help me when i got ill . 13 years a customer and no bad chks....these bankers are very lazy bunch. plus they chg a serv charge if you do nothing.

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  • 4 years ago

    You should work on getting your score up first. Some times very simple things will help. Look at Lexington Law if you need help they have been around for a long time and have a solid record.

  • 1 decade ago

    They will try to charge you to close the account. Get away from them as they will ruin your finances. Go with Credit Unions.

  • wells Fargo charges you for everything...bank of America is better with no fees

    we use a credit union

  • 1 decade ago

    I know how you feel, Imagine my surprise when I opened my statment and I saw a $2.00 charge on there for a phone call lol

  • 1 decade ago

    OMG I have wells fargo for my car loan....I hate them... they are always saying that i dont pay them, when i have the confirmation in front of me. or they are calling me at all kinds of hours in the middle of the night. they claim that i dont have any insurance when i have faxed them my stuff Multiple times and have the confirmations,,, i have pages and pages of names that i have talked to ..... they are the worst,,, i cant wait until my car is paid off!

  • 1 decade ago

    ya I dislike them

    I use washington mutual now

    they are courtias,kid friendly(even a play area)

    really great bank and everythings

    free.

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