They apparently do NOT want money anymore as they've driven me to the brink with their stupid $10 charges. All mind you for items that takes no time so should not even cost a loyal customer $.01. But yet it does. Well, I'm just taking my money elsewhere. I've been a long term customer and allowed them to keep and use a fair amount of money but I'll be giving it to someone else now, I'm a customer not a punching bag. When will "old guard" business' wise up and take a cue from companies like Zappos that it's all about the customer. It's called Win-Win, why don't they get it?! sigh. Here's my ugly letter to them.
I am very annoyed in this current economic climate that Wells Fargo feels the need to charge me $10 to overdraft money from one WF account to another WF account. This happens automatically and costs you NO money but yet you continue to charge me. Transferring money myself is free so why is it not based on a trigger? That is just bad business. Also bad business is charging me another $10 for "excess use" on my savings account. My wife and I saved up enough to remodel our house and don't want to keep it in savings and you charge me $10 to use my own money? Since you don't like me withdrawing or using my own money how about I just move my mortgage, my savings, my credit card, and my checking account to another bank if this is how you feel that a longterm and loyal customer is to be treated. Good luck getting a bailout because you will need one once all of your customers leave you because you have insane and predatory business practices that are both poor customer service and bad business. Business can be win-win, you can make money and make me a happy and loyal customer at the same time. Those two ideas ARE NOT mutually exclusive.
I can understand your frustration, but I'm pretty sure the charge for more than 6 savings withdraws in a month is because they have to report that to the government. I suppose it is considered suspicious or something. At least, that is what Chase told me...
You might want to avoid them too, they charge $12 for these things and will eventually force-convert the account into a checking account.
Posted by: nekatreven | October 28, 2009 at 12:54 PM
Banks are kinda getting like the old cellphone plans that nickle and dimed you for every little thing. I expect that someday one of these banks is gonna get smart and charge like one monthly fee for everything.
Of course that will probably be the day I stop using banks, but that's just me.
Posted by: Aaron Salvo | December 11, 2009 at 10:07 AM
Why not simply move to the UK - our banks provide totally free banking for personal customers.
We also have a sophisticated electronic payment system, such that we rarely if ever use cheques (or checks as you call them).
Most people here run online bank accounts and rarely visit their bank. We have (free) 24 hour telephone banking, with real UK call centres.
Posted by: AlanFromTheUK | February 25, 2010 at 09:56 AM