I started at Wells Fargo Bank when they were called First Interstate 28 years ago. I have excellent credit and have never been late on a credit card payment in 32 years with well over $150,000.00 in lines of credit. I have a checking account, a savings account, and three Wells Fargo Credit cards, that, up until yesterday had $13,000.00 credit between them.
Three years ago, in January of 2009, I had a $20,000.00 credit line at Wells Fargo. I borrowed a cash advance of $14,000.00 for a business plan. I PAID THE FULL AMOUNT OFF IN SIX WEEKS TIME ! And, that is during a recession!
Their thank you was to send me a letter a month later and cut my credit line down to $7,500.00. Why? There was no reason given and when I called them, it got nowhere.
I, as a taxpayer, helped Wells Fargo get their $25 billion bailout in 2009, so how do they treat me when I am never late on a payment in 28 years? They chop my credit in half, the bunch of double-crossing idiotic jerks.
In 2010, I borrowed $4,000.00 once again against my Wells Fargo MarsterCard. Once again, in a recession, I paid the lump sum off a few weeks later. How did Wells Fargo thank me? A month later, they cut my credit in half again and made it $3,000.00.
This is the last straw. I borrowed a cash advance this year, in 2012, and paid it off in full, for $2,200.00, on Friday, June 22, 2012. I went online four days later to check my account, and, BAM!, I found that Wells Fargo chopped my credit card down to $1,000. This was so insulting that it is stupid. I am not staying with a bank where I borrow a total of $22,000.00 during a recession and pay it off each time within weeks of borrowing, just to watch them disrespect me. It is time to pull my money out and go elsewhere.
If they ever ask for another bailout from taxpayers again during my lifetime, then I will protest it at every turn. They are jerks and they do not deserve favors from American taxpayers and they don't deserve our business.
I opened a loan with Wells Fargo a little over 6 months ago.
It has been a nightmare experience from the beginning; my gut told me not get the loan through them when they couldn't even tell me if there was a fee for paying it off early. However, long story short, I did.
First, they made me open a checking AND savings account with them. When I asked about monthly fees, I was told that if I connected my loan with the checking account, all my fees would be waived. I also setup the loan to be automatically drafted out of my checking account they made me open with more than the minimum payment.
Each month since I opened it, the auto-draft has not occurred. The first couple of months I called to address the issue, they said it may take a few months to "kick in". When I asked them if they could double-check to make sure it had actually gotten setup, I was told they could not see that information. After that didn't work, I was told I had to go in to sign a paper to setup auto-draft, even though I had done that when I got the loan, so I went into a branch to setup the payment AGAIN. That was two months ago & it still is not auto-drafting.
Then, on top of that whole mess, they are charging me a monthly service fee. They charge me at the end of the month & then reverse it at the beginning of the next month. Weird? Yes. But, whatever. NOW, this month they charged me the fee, but didn't reverse it. I called to address THIS issue, and they told me they didn't know how I was getting it reversed, but they couldn't do it anymore.
Wells Fargo has been a huge headache from the start. I tell everyone not to bank with them. This loan can not get paid off fast enough...
I have had an account with Wells Fargo since they acquired Wachovia and my account at Wachovia. Recently they doubled their minimum daily account balance requirement on my grandfathered account. Notice of the change was buried in their terms and conditions. I did not receive an email or letter stating: Notice. Your Minimum Daily Account Balance has been doubled.
I dipped $10 below the new minimum daily account balance for a few days, and Wells Fargo assessed a $12 fee. I called their customer service number to request that the fee be reversed, since it was unfair to apply it without an obvious notice. The person with whom I spoke was a nasty, argumentative man. He said that the new minimum daily balance was in the terms on my account statement, that I had proper notice, and that he would not reverse the fee.
I also have accounts at Chase and Charles Schwab Bank. Charles Schwab has the best bank by far, with the fewest fees and hidden charges. Chase may not have the best terms, but their customer service is excellent. Wells Fargo is the worst of the three with terrible terms and terrible customer service -- but it is by far the most profitable for shareholders. (As a European visitor asked in the 1920s when seeing the lavish yachts of the leading Wall Street bankers, "Where are the customers's yachts?")