nklr: wells fargo bank

[revmaaatin]

Thanks Fred. TILT- To have the maximum effect of doing business elsewhere, Anyone that changes business/banks, etc need to send a letter to the bank/institution and explain why they are moving; otherwise they have no idea why we have left. I remained at Wells Fargo because it is advantageous (at this time) to remain there. One suggested using the credit union, which I whole heartedly agree. I have been a credit union member since 1979, (Navy Federal Credit Union), unfortunately in is near naval bases = oceans, etc. South Dakota is a little far from either the A or the P Oceans.... To the NFCU's credit, they now make (as I am sure others do as well) scanning and e-deposits possible. Still the unfortunate aspect of this great institution are local 'fees' to extract cash because there are no NFCU ATM's locally; --not exorbitant, more annoying than anything else. Yes, it is a cost of doing business and a cost to me for the choice I have made to do business at a non-local institution. I don't begrudge anyone sic Wells Fargo making a profit; what tipped me over was the blatant 'hiding' of information that was easily made available but was deliberately hidden requiring the customer to literally say, ME: "You got to be kidding." ( WF `Oh, no, there are other options.') ME: unspoken, --wow, I am impressed. Yeah, I am still on tilt that the 'target' is those that can least afford to fees. Thank you to the one suggesting the Credit Union Option. That one is now at the front of my 'suggestions'. The shoe on the other foot-- One friend has a 'C' store with his own ATM; "It is the #1 profit making device in the store per square ft" compared to anything else he 'sells'. He comments it is amazing how many will 'quick' cash for $20 with a $1.50 transaction fee. Even he shakes his head at that logic of the customer. He also commented on his gas sales, "I make more money on the cash sale of two bottles of pop ($1.49 each) than I do on 10 gallons of gas paid for with a credit card." His words, not mine; which I believe to be true. unTILT On a consumer note: I will spend more to do business with someone who still has and exhibits the ethics to treat a customer with respect and who will never sell me/them something that I don't need (without warning me that I don't need it); and also listens to my needs/wants and then recommends what would work best for the application. Shameless plug: that would be Fred at Arrowhead. Now, I am going to go ride my KLR and spend $20 to fill up the tank; not happy about the price but glad I can still buy gas. remvaaatin.

--- In DSN_KLR650@yahoogroups.com, "Fred Hink" wrote: > >tch 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] >