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AUGH.
I hate Wells Fargo (fka in MN as Norwest). Scumsucking bastards are just out to take whatever they can get their hands on. They change their proceedures without bothering to notify anyone- and of course you don't find out about these things until you need them. So you're screwed.
Phone transfers: no longer available unless you've filled out paper forms and mailed them in approving YOUR OWN RIGHT to transfer from your account to one not in your name. You don't hear about this until the first time you try to transfer funds.
Oh- and no one seems to know exactly what the cutoff time for phone transfers is. Used to be 11pm CST, then 9pm- though the website showed that was supposed to be 9pm PST (so 11pm CST); according to a friend who called last night it's now 7:30pm, though a few weeks ago when I tried calling it was 7:30 PST/9:30 CST.
They also changed it so that your debits are credited to your account BEFORE your deposits- so you can deposit $1500 and have a check for $15 go through the same day, and get an overdraft charge. And of course, they use the banking trick of putting the largest debits through first, so while you might find yourself $20 short for a day's debits (due to, say, the bank not crediting local deposits according to their published timeline), if you have a large debit and a few smaller checks (say 12, 17, and 5) they can hit you with three overdraft charges instead of one.
Be careful if you use their web banking and are a primary in a business with an account with them, and have a personal account with them. Contrary to regulations, they put businesses in under primary partner's SS#'s, instead of the business' TIN. So, again contrary to regulations, funds could be swapped between personal and business accounts- or an accountant could pull things out of a business owner's personal account into the business account.
In the past couple months, more that half the times I've gone to an ATM it's been out of order. Even the ones AT the bank, during business hours- often without a sign, so there's a line of cars waiting, and each person gets to find out for themself that it's not working! There are times you can go to three ATMs in the area, and they're all down.
If I didn't have an active ready reserve account with them (and if most other banks weren't just as bad) I'd be out of there so fast their heads would spin.
I hate Wells Fargo (fka in MN as Norwest). Scumsucking bastards are just out to take whatever they can get their hands on. They change their proceedures without bothering to notify anyone- and of course you don't find out about these things until you need them. So you're screwed.
Phone transfers: no longer available unless you've filled out paper forms and mailed them in approving YOUR OWN RIGHT to transfer from your account to one not in your name. You don't hear about this until the first time you try to transfer funds.
Oh- and no one seems to know exactly what the cutoff time for phone transfers is. Used to be 11pm CST, then 9pm- though the website showed that was supposed to be 9pm PST (so 11pm CST); according to a friend who called last night it's now 7:30pm, though a few weeks ago when I tried calling it was 7:30 PST/9:30 CST.
They also changed it so that your debits are credited to your account BEFORE your deposits- so you can deposit $1500 and have a check for $15 go through the same day, and get an overdraft charge. And of course, they use the banking trick of putting the largest debits through first, so while you might find yourself $20 short for a day's debits (due to, say, the bank not crediting local deposits according to their published timeline), if you have a large debit and a few smaller checks (say 12, 17, and 5) they can hit you with three overdraft charges instead of one.
Be careful if you use their web banking and are a primary in a business with an account with them, and have a personal account with them. Contrary to regulations, they put businesses in under primary partner's SS#'s, instead of the business' TIN. So, again contrary to regulations, funds could be swapped between personal and business accounts- or an accountant could pull things out of a business owner's personal account into the business account.
In the past couple months, more that half the times I've gone to an ATM it's been out of order. Even the ones AT the bank, during business hours- often without a sign, so there's a line of cars waiting, and each person gets to find out for themself that it's not working! There are times you can go to three ATMs in the area, and they're all down.
If I didn't have an active ready reserve account with them (and if most other banks weren't just as bad) I'd be out of there so fast their heads would spin.
no subject
Sounds like Fleet (http://www.fleet.com/), the bank that even goes so far as to name itself after an instant enema (http://www.brucemedical.com/ph201.html).
no subject