Author Topic: Wells Fargo Bank Fees  (Read 99 times)

Offline Patricio

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Wells Fargo Bank Fees
« on: October 30, 2012, 11:15:48 PM »
 :tickedoff:   Took a business check from a customer for repairs to his Refrigerator.  Gave him a 10% discount amounting to $20.  Never mind the repairs were for his personal home fridge.  ::)
  Where this story is leading to is that the check was made out to me personally.  I took it to the local Wells Fargo (a national chain of banks) outlet to cash.   Because I don't have an account with them they told me I had to pay a $7.50 service fee to get my money.   :tickedoff:
The person pays fees to put his money into an account that he can write checks on so he does not have to carry cash.  The bank wants a fee to give me cash that an account holder writes a check to pay for his services/goods.   This is bank robbery in my opinion except instead of robbing the bank, the bank robs you.  >:(
I now have a policy that if a customer wants to pay me from a Wells Fargo account I am charging a fee of $15 to accept the check. 
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Offline tgoods

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Re: Wells Fargo Bank Fees
« Reply #1 on: October 30, 2012, 11:37:11 PM »
I didn't know this so I just checked and it seems pretty common.  Why don't you cash it at your own bank and avoid the fee altogether? 

I've accepted a couple of checks for craigslist sales even though I know it's a bad idea. I cashed them at their bank because I didn't want an NSF fee in case the check was bad. Not only would I be out the money for the sale, I would be out another $20 if the check bounced.  Neither bank charged me a fee, they just wanted my thumb print on the check.

Offline Patricio

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Re: Wells Fargo Bank Fees
« Reply #2 on: October 31, 2012, 12:23:55 AM »
That's why I go to the bank.  Been doing it for 30 years.  If there is not enough money in the account when your bank processes the check you have a check that is stamped insufficient funds & is no good any more plus your banks charges for returned check.   When yo go to the bank it is written on, a litle inconvienent, they tell you there is no funds available that day. But you have a check that is still processable, & no returned check fee.  You can go another day to get your money when funds might be available.

I am bring Wells Fargo up cause I have heard hooror stories from there customers about fees & charges they knew nothing about.   I have never had a problem with any other bank that I take the checks to.   Also I did not note that I took 2 checks today.  They cashed the one for $65 no problem, They wanted a fee on the $175 check because it was "over $100".   I am depositing the check into my Credit union account to be processed.   I have been a member of several credit unions, there member owned...no fees, you only pay for your printed checks & the fee for having a business account is only $5 per month.   No bank can touch that,  they are owned by stock holders who are greedy.
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Offline dentdaddy

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Re: Wells Fargo Bank Fees
« Reply #3 on: October 31, 2012, 08:00:03 AM »
I've mentioned it before, but it is still relevant. I use a check collection company www.northstargt.com . I deposit a check in my account, if it is NSF the bank sends it straight to Northstar and I never have to deal with it. I see the reversal on the account but I know that Northstar is taking care of it. Their fee in "phase 1" collections is the state allowance for returned checks and the check writer is responsible for this fee. "Phase 2" fees are 50% face value and they will report the check writer to national credit bureau and ruin their credit.

Check them out, it's worth not having to try to collect from your customer.
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Offline AJ

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Re: Wells Fargo Bank Fees
« Reply #4 on: October 31, 2012, 08:20:05 AM »
Some of the banking fee's are getting crazy. I have a personal accounts and a business account at Wells Fargo.

I don't get charged any monthly fee's at Wells Fargo for either account at this time.

But when my son and I went through Wells Fargo drive-through to cash his first paycheck this last summer I got asked if he had a account there.

I told the teller no, it was his first paycheck and also told her that I had a number of accounts. She looked up my info in the computer and then told me that they would not charge a fee this time, but if he was going to cash checks there on a regular bases he would need a account or they would have to charge him a fee.

My son has a saving account at another bank in town so after we got his paycheck cashed at Wells Fargo I told him to just go to the other bank next time.

When he decided to open a checking account he opened it with the other bank instead of Wells Fargo. I'm sure Wells Fargo gets a lot of new customers nation wide every day, but the day they cashed my sons first paycheck they seem to have lost one.

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Offline Patricio

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Re: Wells Fargo Bank Fees
« Reply #5 on: October 31, 2012, 08:50:00 AM »
My point is that they have a customer that pays the fee to keep an account so they may dispearse their money.  A person who takes a check instead of cash should have access to the money without fees.   The bank manager told me that I should not take a check from there bank if I don't want to open an account with them or pay a fee.   Just is not right the way I see it.
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Offline LowSL2

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Re: Wells Fargo Bank Fees
« Reply #6 on: October 31, 2012, 01:07:02 PM »
Wells Fargo is an evil company. Their local managers prey on the elderly by doing predatory loans. They preyed on my grandfather just before he died. Convinced him to put the house up for a line of credit. Then told him to use the money he borrowed to pay the loan. When he needed more money because the loan was costing so much, they had him open a credit card. He didn't know better and trusted them. They took advantage of an old man and the guy that took the loan got a big commission.

I hate Wells Fargo with a passion.

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Offline AJ

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Re: Wells Fargo Bank Fees
« Reply #7 on: October 31, 2012, 01:13:03 PM »
Just read about this in the paper when I stopped to eat lunch today.

Wells Fargo quietly sends refunds to some mortgage customers
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Offline andersenappliance

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Re: Wells Fargo Bank Fees
« Reply #8 on: November 01, 2012, 06:35:23 PM »
Actually, I should think that this is illegal.  It probably isn't, knowing the state of the law these days, but if not, it should be.

Someone contracts with a bank to hold funds and to disperse those funds with the proper document - "Pay to the order of..."

The said bank refuses to uphold the contract, in effect denying the account holder of these services, or demanding that the payee enter into another transaction in order to have the bank execute the previously contracted transaction.

It strikes me as a failure of fiduciary responsibility.  I would think that they could be sued for this. 

Perhaps they have, and won.

At any rate, I won't bank with Wells Fargo.  Although I have thought about opening minimal savings accounts with a variety of banks, just so I could cash customer checks without them going through my bank.

But somehow, I don't want to do any business with these types of people. 

It seems that NorthStar would be worth avoiding the hassle.

Offline wildimaginations

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Re: Wells Fargo Bank Fees
« Reply #9 on: November 01, 2012, 06:47:36 PM »
Seriously consider cash or credit card as the only form of payment.  Less hassles going to the bank and everyone should have a credit or debit card by now.
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