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Wells Fargo Customer Review

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vickid's Profile Image

2 out of 5 marks

Reviewed by vickid

Feb 23rd 2013

Not good

I work for a small business and rcently the owner was in this branch. We had been paying our employees via the "send/receive money" on the website which we had no problems until our owner had gone to this branch and changed products (all that was changed was she added a new account- no change to the existing account). Now we have a 'limit' per month for our transfers and this is causing a HUGE problem with our employees getting paid on a timely basis- many phone calls to this branch were referred to on-line business support with NO RESOLUTION. They even told us that it was our employees problem- that they must have a "limit" on what gets transferred into their accounts... really?? Who would put a limit on what is transferred INTO your account??? Then we were told the account "reset itself" and we would just have to wait until the "limits" were released..noone can tell us how many months this will take... very disappointed and we are thinking of taking our business to Bank of America.

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Andrew L's Profile Image

Reviewed by Andrew L

Aug 22nd 2008

4 out of 5 marks

Wachovia

Great bank with a multiplicity of options. As a student, I appreciated the overdraft program which gives you a 'cushion' of credit for overdraft protection instead of innumerable fees.

There are definitely other reasons to use Wachovia, such as availability of ATMs, (almost) free-checking, etc. But these are the main benefits.

Is this review helpful? ▲ Yes 5 ▼ No 3

chrisdsl's Profile Image

Reviewed by chrisdsl

Apr 1st 2014

1 out of 5 marks

So bad I would have laughed but I was too pissed off!

My boyfriend and I applied for a mortgage on a $225K townhome in Tucson. My credit score is 798 and his is over 800. We're both in our 60's, retired, never had a bad debt in our lives. I own free and clear approx. $2.5M of real estate and have liquid assets of over $1M. My only debt is $258K on a condo worth $345K that my son lives in - I financed it at 3.45% because I could do better in the stock market. My boyfriend owned a home worth $215K that he had a $30K heloc out on and was planning to take out another $22.5K to pay his half of the down pmt. His house was on the market at the time and he told them the heloc would be paid off when it sold (which it did last month).

Our loan officer said we would have no problem qualifying with a 20% down payment. 5 days before closing, he said that underwriting was "concerned" that our income wouldn't support our debt and that we would have to put 25% down. Other than the condo and the heloc mentioned above, we have no debt. We each have a couple credit cards that we pay off each month. The loan officer said monthly bills count and I pointed out that my approx. $10K of monthly bills are paid on time every month. We delayed the closing a week.

A few days before the 2nd scheduled closing, he called and explained that underwriting wasn't "happy" with my boyfriend's share of the down pmt coming from his heloc and that we would have to put 35% down, submit copies of all of our credit card statements for the past 6 months (because I disputed that we were ever late paying them off) and that we would have to delay closing for about 10 more days. I told him to stick it. We paid cash.

I work for a realtor who had WF as their in-house lender until last year when they switched to a broker because WF couldn't close consistently on time.

Why anyone would work with Wells Fargo is a mystery to me. A good rate and reasonable loan costs aren't good for anything if you don't get the loan. Ridiculous.

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