nklr: wells fargo bank --> credit union

[revmaaatin]

List, Yeah, This is way over the top NKLR, but if you do business at Wells Fargo Bank, it may save you $180/year in fees. I share this as MY personal experience. This specifically pertains to Wells Fargo (WF) but may apply to your bank as well; Recently, I received an email notice (and their minimal email explanations) that free checking would end in May if I did not have a checking account balance of $7500. WHAT! You have got to be kidding me. Read the email: That would be waived I had a home mortgage, debit card, credit card balance of $7500 and a couple of other reiterations that I did not qualify. Their answer was a $15/month fee to keep my money at WF. I ride a KLR, not an ORANGE or BMW; so $15/month = $180/year is not my idea of service. Fast forward to last Friday. Investigated another bank; required average min balance of $750 for free checking, I picked up an application to begin the paperwork if WF did indeed require $7500 balance. So, I was pre-disposed to switch banks; desiring to keep Wells Fargo due to their number of local as well as National outlets, but nevertheless, the fees were not reasonable IMO. The justice side of this issue is that many people of lower income will not have a choice and will have a wallet biopsy of $180. A chance comment my wife made on Friday to a different WF teller ("we might be moving our accounts") brought the response, "You should come in and see if there is anything we can do to make you change your mind." WHAT! You think I can't read the email? So, I/we went in; fully prepared to withdraw our funds. Today, I asked a WF middle manager a couple of questions, "Why is this balance requirement so high and why should I keeping doing business here?" The nice lady made sure I did not have a mortgage, or would transfer a mortgage to them and then suggested, "For a direct deposit of $1000/month, you will receive free checking" We qualified. We were already doing that. That offer was completely unexpected--not anywhere in the email explanation did they suggest you had that option as well. My brilliant wife understood immediately: They expected the average person to roll over and take the $15 hit without a whimper, without investigation, without a question. Now here is the kicker. They knew we qualified for their program that offered free checking, that we qualified but if we did not initiate the conversation, we would be dunned $15/month. Now I have told you, and very soon, I am going to send this email to Wells Fargo as well. If you are banking at Wells Fargo, you have 'fees' options that are not clearly stated in your email notification that you must ask about or they will do a wallet biopsy on you as well. I would imagine other banks are following similar practices as well. revmaaatin.

[Fred Hink]

Watch out for Bank of America. http://www.youtube.com/watch?v=xd96uw8FeD0&feature=player_embedded Fred www.arrowheadmotorsports.com From: revmaaatin Sent: Monday, April 30, 2012 10:58 PM To: DSN_KLR650@yahoogroups.com Subject: [DSN_KLR650] NKLR: Wells Fargo Bank List, Yeah, This is way over the top NKLR, but if you do business at Wells Fargo Bank, it may save you $180/year in fees. I share this as MY personal experience. This specifically pertains to Wells Fargo (WF) but may apply to your bank as well; Recently, I received an email notice (and their minimal email explanations) that free checking would end in May if I did not have a checking account balance of $7500. WHAT! You have got to be kidding me. Read the email: That would be waived I had a home mortgage, debit card, credit card balance of $7500 and a couple of other reiterations that I did not qualify. Their answer was a $15/month fee to keep my money at WF. I ride a KLR, not an ORANGE or BMW; so $15/month = $180/year is not my idea of service. Fast forward to last Friday. Investigated another bank; required average min balance of $750 for free checking, I picked up an application to begin the paperwork if WF did indeed require $7500 balance. So, I was pre-disposed to switch banks; desiring to keep Wells Fargo due to their number of local as well as National outlets, but nevertheless, the fees were not reasonable IMO. The justice side of this issue is that many people of lower income will not have a choice and will have a wallet biopsy of $180. A chance comment my wife made on Friday to a different WF teller ("we might be moving our accounts") brought the response, "You should come in and see if there is anything we can do to make you change your mind." WHAT! You think I can't read the email? So, I/we went in; fully prepared to withdraw our funds. Today, I asked a WF middle manager a couple of questions, "Why is this balance requirement so high and why should I keeping doing business here?" The nice lady made sure I did not have a mortgage, or would transfer a mortgage to them and then suggested, "For a direct deposit of $1000/month, you will receive free checking" We qualified. We were already doing that. That offer was completely unexpected--not anywhere in the email explanation did they suggest you had that option as well. My brilliant wife understood immediately: They expected the average person to roll over and take the $15 hit without a whimper, without investigation, without a question. Now here is the kicker. They knew we qualified for their program that offered free checking, that we qualified but if we did not initiate the conversation, we would be dunned $15/month. Now I have told you, and very soon, I am going to send this email to Wells Fargo as well. If you are banking at Wells Fargo, you have 'fees' options that are not clearly stated in your email notification that you must ask about or they will do a wallet biopsy on you as well. I would imagine other banks are following similar practices as well. revmaaatin. [Non-text portions of this message have been removed]

[Sniper One]

For those really want to better understand what's happening with the banks (it has all happened before), you might read the short book here: http://www.constitution.org/gb/gb-plea.htm It recounts the history of banking in our colonies and why the framers of the constitution were explicit that all legal tender was to be gold or silver and mented by the government. Anytime the banks have the ability to produce their own money (coin, paper, etc) they eventually manipulate it enough to make billions in margin at the expense of destabilizing the nation. Current banking strategy which offers credit, debit, and ATM cards is essentually them printing or menting their own money, and they are making margin on all sides of every transaction. While Credit Unions are structured a little differently, they have still embraced the electronic money system so they too can make margin off every transaction. In most all cases, the driving force in one form or another would be called greed. IMHO Just my 2 cents, Randy

--- On Wed, 5/2/12, Lourd Baltimore wrote: > From: Lourd Baltimore > Subject: Re: [DSN_KLR650] NKLR: Wells Fargo Bank --> Credit Union > To: "DSN_KLR650@yahoogroups.com" DSN_KLR650@yahoogroups.com> > Date: Wednesday, May 2, 2012, 12:33 AM > > > > > > > > > > > > > > > > > > > > > > > > > > Mark, > > > > Thinking back about my comments, yes I'd agree with your > sentiments and revise my own. > > Go for a smaller bank/credit union if it meets your > requirements. They have less "overhead". > > (Although they may get bought by a big bank in the future). > > > > Just to be clear, I am recounting my experience with my > credit union. > > > > I've have nothing but joy and simplicity in my 30 years > of dealing with them. > > As for folks in the top making the big bucks, my father was > on the board of that credit union. Board members received > no pay for the positions. It was on your own time. > > > > Not all banks are too big to fail and not all credit unions > are run with the best intentions.... > > > > Josh > > . > > > > ________________________________ > > From: mark ward > > To: "DSN_KLR650@yahoogroups.com" > DSN_KLR650@yahoogroups.com>; > Lourd Baltimore > > > Sent: Tuesday, 1 May 2012, 13:39 > > Subject: Re: [DSN_KLR650] NKLR: Wells Fargo Bank --> > Credit Union > > > > > > > > WARNING WARNING WILL ROBINSON. (If you are OLD enough to > remember, L.I.S.) > > > > My credit union WAS like taht but slowing changing, Creeking > up on us like......."THE BLOB". > > (ok enough old Syfy) > > > > C.U.'s are slowing doing the same thing as they get BIG > ENOUGH, to NOT NEED US. > > > > I think Small CU's like any other BUSINESS, take care of > "members" when they need to grow, then WATCH OUT. > > > > ..... > > > > [Non-text portions of this message have been removed] > > > > > > > > > > > > > > > > > > > > > > > > > >