The Final Straw

[BigBoy99]

The Final Straw which caused me to leave Wells Fargo Bank and open my banking account elsewhere was when Wells Fargo said the I must have a cell phone.

I was trying to transfer money online from one account to another and before Wells Fargo would do the movement of money, they would send me a text message with a code number to my cell phone and when I entered the code into the appropriate online box, they would do the funds transfer.

I called the HELP desk and was told that I MUST have a cell phone to receive the text message with the code which would be sent. The only way the transfer would occur is if the code would be entered.

I do not text because a phone is for talking - is it not a TYPEWRITER! Secondly, I do not own a cell phone and I have absolutely no desire to get one.

Since you need a cell phone to do business with Wells Fargo, they will no longer have my business!

 

[Mike SC Hunter]

Sounds like a plan.

 

[grover99]

Technology is both a curse and a blessing. How one views it is up to each person.

 

[johngross]

Since you need a cell phone to do business with Wells Fargo, they will no longer have my business!

The "code number" you mentioned is becoming more and more common, and is an extra step to help prevent someone from hacking your account. I personally am thankful for it.

I do believe, at least the companies I have which use the "code number", I have the option to either receive the number via text on the phone or from an email. You may want to ask them if they can send you an email instead.

Changing banks may help for now, but I think eventually all banks will be doing this. We are after all, fast approaching the third decade of the 21st century .

 

[Geronimo Jim]

I don't like computers.........Or people who like computers.

 

[swsig]

You may be paddling upstream against Niagara Falls. Increasingly, banks are requiring "two-factor authentication" before you conduct any financial transactions online. By sending you a code to your personal cell phone after login, they make it virtually impossible for someone who has stolen your login ID and password to mess with your account. This trend is only going to become more prevalent. If you are permanently dead-set against having a cell phone, you may have to resign yourself to conducting all of your banking in person in an actual bank. Of course, that's assuming that there still will be brick-and-mortar banks to conduct business in.

 

[biku324]

I quit Wells Fargo after 25 years with them because a counter teller pulled $100 out of my account when I purchased a $100 money order with cash. It took a half dozen calls to the manager to get her to agree to check the video; she didn't, so I called the Phoenix WF security office. They couldn't get her to return their phone calls!

Finally someone got her attention and she found I was right; she and WF security agreed to put the $100 back 'immediately.' A week later it still wasn't done, so I got WF security involved again and the money finally got deposited. Once we were square, I pulled out checking, savings, and investment accounts.

 

[CAJUNLAWYER]

You think that's bad???? MY bank will not let me write checks unless I have money in the account
Hate to say it, but the only reason banks put up with individual depositors is because the regulators make them. They pretty much loose money on all the small accounts. I know several bank directors and that is pretty much the way it is. Banks make money on loans and float. Small accounts like yours and mine are a cost of doing business. It has gotten to the point that a lot of banks will not let an individual open account with a bad credit history. I've got clients getting pay checks through pay pal or pre loaded debit cards. You think your bank charges are bad, you ought to see how they rape the really poor people who have to go that route!
Brave new world out there amigo and it's either adapt or die.
I'm not yet ready to die

 

[rbmac52]

Wells Fargo is as crooked as they come. I quit them decades ago and they've simply gotten worse since then. The only thing I can say good about them is the stagecoach.

 

[RGNewell]

Wells Fargo Mortgage

I got a construction loan from WF in 2004 with a commitment from WF Mortgage for the mortgage. I bailed and will never do business with them since the loan officer tried to get me to commit bank fraud.

 

[old bear]

Caj, can't give ya a like on your post, but your comments, sadly are spot on. It's a brave new world and I'm not sure it's always for the better.

 

[Absalom]

Since you need a cell phone to do business with Wells Fargo, they will no longer have my business!

I suspect that Wells Fargo has calculated that the money they can save by the added security is more than what they risk losing through a few determined customers like you becoming ex-customers.

I still remember deciding back in the 90s not to become an Amazon customer since you needed a computer to order books and I didn’t have one at home. And who the heck needed Amazon?

In hindsight, I can only chortle about that.

 

[JcMack]

Generally the bank will give you a couple options of receiving "the code". Cell phone, email to your on line device or call customer service and have them read it to you. Another thing. Remember when you log off your banks website, close your browser for securities sake and restart if you have more work to do on your device,

 

[mckenney99]

My home mortgage is through Wells Fargo. It wasn't my choice, they bought the mortgage from the original mortgage company after I bought the house. Everything was going smoothly, I am NEVER late with my payments and earlier this year I had not gotten my monthly mortgage billing so I tried to go online to access my account, so I could print out a statement/payment coupon to go with my payment. I had accessed my account on-line previously to get some tax payment info but now I could not access my account. Called the HELP number and was told that they had instituted a new system and they had to have my cell phone number on file before I could re-activate internet access to my account and there was none listed on my account.
No problem, "let me give you the cell phone number".
"Oh no sir, we can't take that info over the phone, you have to go to one of our offices with your cell phone, bill and (2) photo IDs to verify your identity".
"OK where is the nearest office, I live in west central Ohio"
"We don't have any offices in your state or in any of the surrounding states."
"How do you propose that I comply with your requirements then? I am not travelling across the country to find one of your branches?"
"I don't know".
"LADY DO YOU UNDERSTAND I ALL I WANT TO DO, IS PAY MY DA%&, MORTGAGE ON TIME?"
I felt like I was talking into a long hollow pipe that just went around in circles to no where. After approximately 30 minutes of basically running into one brick wall after another, I was finally transferred to a lady that was very apologetic about the 'new' policy and she agreed to just e-mail me a copy of my monthly billing statement so I could mail out my payment.
I am stuck dealing with Wells Fargo as a mortgage holder until they decide to sell the mortgage or I die. Otherwise I would NEVER deal with them, they are idiots.
Sorry for the long winded rant, kind of hit a nerve that is still raw.

 

[pharmer]

You think that's bad???? MY bank will not let me write checks unless I have money in the account

I had a big argument with the bank: "How can I be out of money when I still have checks !?!" Joe

 

[NYlakesider]

More not so good stuff about that bank. They seem to have a serious habit of getting their customers P.O.

So glad I do my banking business with a good local bank. Just checked have been with them since the mid 1970s!

 

[biku324]

I've been using a local credit Union with 99% satisfaction since leaving WF.

 

[Ole Joe Clark]

Generally the bank will give you a couple options of receiving "the code". Cell phone, email to your on line device or call customer service and have them read it to you. Another thing. Remember when log off your banks website, close your browser for securities sake and restart if you have more work to do on your device,

I got in the habit of closing my browser after looking at the account years ago. It is a good habit to have.

Have a blessed day,

Leon

 

[rwsmith]

I did business with Wells Fargo...

... for a while, but they got somewhat underhanded and i quit them and haven't messed with them since.

Anything with 'bank' is an anathema to me.

Credit Union all the way.

 

[CAJUNLAWYER]

My home mortgage is through Wells Fargo. It wasn't my choice, they bought the mortgage from the original mortgage company after I bought the house. Everything was going smoothly, I am NEVER late with my payments and earlier this year I had not gotten my monthly mortgage billing so I tried to go online to access my account, so I could print out a statement/payment coupon to go with my payment. I had accessed my account on-line previously to get some tax payment info but now I could not access my account. Called the HELP number and was told that they had instituted a new system and they had to have my cell phone number on file before I could re-activate internet access to my account and there was none listed on my account.
No problem, "let me give you the cell phone number".
"Oh no sir, we can't take that info over the phone, you have to go to one of our offices with your cell phone, bill and (2) photo IDs to verify your identity".
"OK where is the nearest office, I live in west central Ohio"
"We don't have any offices in your state or in any of the surrounding states."
"How do you propose that I comply with your requirements then? I am not travelling across the country to find one of your branches?"
"I don't know".
"LADY DO YOU UNDERSTAND I ALL I WANT TO DO, IS PAY MY DA%&, MORTGAGE ON TIME?"
I felt like I was talking into a long hollow pipe that just went around in circles to no where. After approximately 30 minutes of basically running into one brick wall after another, I was finally transferred to a lady that was very apologetic about the 'new' policy and she agreed to just e-mail me a copy of my monthly billing statement so I could mail out my payment.
I am stuck dealing with Wells Fargo as a mortgage holder until they decide to sell the mortgage or I die. Otherwise I would NEVER deal with them, they are idiots.
Sorry for the long winded rant, kind of hit a nerve that is still raw.

Tell ya a dirty little secret. What you are obligated to do, how you do it and what if any penalties you may have to pay are governed by your original mortgage document which is recorded at the courthouse. The original mortgage holder sells it, no problem. The new mortgage holder says now you have to do this this and this and there are penalties if you don't.....NOT SO FAST. All you have to change is where you mail the payment nothing else. The new mortgage holder, or more likely the new mortgage server, cannot impose new conditions of any kind upon you that are not contained in the original mortgage document unless you agree. Believe me on this one, I have done some serious ball cutting on this one with a lot of servicers and new mortgage holders. This is especially fertile ground in the bankruptcy (chapter 13) and fair debt arenas since a lot of times nobody can put their hands on the original source documents and the trustees are now denying claims and the Bankruptcy Judges are whacking the servicers with sanctions. Hell the threat of fair debt alone usually clears up things pretty quick with the servicers or their lawyers. My brother is a bank lawyer and he has many sleepless nights over these issues-he once told me that it has gotten so bad that he probably violates three or four provisions of the Fair debt law between the bed and bathroom each morning when he wakes up

 

[JcMack]

I had a big argument with the bank: "How can I be out of money when I still have checks !?!" Joe

My ex wife lived by that concept.

 

[mckenney99]

Caj.
I appreciate the info. Sorry I wasn't more clear. My rant was about their stupid, short sighted, idiotic policies for accessing my account via the internet. I realize it is their website, they get to set the terms for using their website and they are attempting to limit exposure to fraud. To their credit they have not attempted to change any of the terms of the mortgage. I just wanted to be able to print out a payment coupon to send in with my payment to avoid any confusion on their end as to where to apply the payment.

For my regular banking, I have given up using banks and I also depend on 2 member owned Credit Unions.

 

[Igiveup]

Quit WF back in the 80's, after they changed some loan policies to farmers. After a couple banks and moves, am now with a credit union and have no banking problems, except always need more money.

 

[4506517]

I gave up on Wells Fargo after they gobbled up Wachovia.

Marched in demanded all my money. They balked until I loudly began asking for the branch manager. Spoke with her and she seemed completely unconcerned.

Took my money and left.

 

[rubiranch]

Wells Fargo sucks.

 

[Farmer17]

Tell Wells Fargo that by requiring you read a text they are discriminating against blind people!! Ask them who to talk to that needs to be served the lawsuit papers and I bet someone will talk to you.

 

[Fishslayer]

I was phoneless for about 2 months... trying to get ANYTHING done without a phone in beer virus times was near impossible. "Text us when you get here" is how a lot of people are doing things now.

 

[LVSteve]

Banks like to think they can change the rules whenever they like, but the right push-back can get them running like Caj said.

In 2011 I took an attorney prepared power of attorney into Citibank to take control of my terminally ill first wife's accounts. This is in the aftermath of the banking crisis and the banks were playing major scaredy cats with little or no devolved authority to branches. Woman looks at it and says, "Oh, but it's not on one of our forms. That won't work, she'll have to come in here".

Me: "Yeah? Which part of her being bedridden did you not understand? I'll take you up there".

Mrs Citibank: "Oh no, it has to be done here with our notary."

Me, patience exhausted: "Is that so? Well, you are a business licensed in this state, and I wonder how the State Bar and the Nevada Attorney General will take the news that you won't take a POA prepared by a state approved attorney on the say so of some pencil neck in New York."

I thought she was going to puke. She still had to fax it to New York for approval. Bunch of idiots.

 

[Golddollar]

Caj, can't give ya a like on your post, but your comments, sadly are spot on. It's a brave new world and I'm not sure it's always for the better.

All change is not progress. I spent a half a day trying to find a living person to talk to on a matter with my CPAP machine. The company made no effort to make it easy for a customer to call the company to speak to a human being when no response is made through the email connection. Nowhere on the web page was there any reference to a phone number for calling the company.

 

[Golddollar]

Hate to say it, but the only reason banks put up with individual depositors is because the regulators make them. They pretty much loose money on all the small accounts. I know several bank directors and that is pretty much the way it is. Banks make money on loans and float. Small accounts like yours and mine are a cost of doing business.

Now I understand what happened when my regional bank got swallowed up by a Megabank. I had a savings account at the regional bank for several years, when I received the prospectus about how the Megabank was going to integrate the regional bank into the Megabank. The merger took place, and all of a sudden each month the Megabank was draining about five years worth of interest from my little savings account. I went to a branch of the Megabank to see what was going on. I was told that their regulations made my account subject to a monthly service charge. I very civilly told the Megabank's representative that their prospectus about the merger never said a word about imposing any services charges on an existing account, and I thereupon pulled out every dime I had there and have never had another account with them again. That was over 15 years ago. It sounds like they probably said, "Good riddance" after I closed my account.

And the sad thing is, this way of doing business doesn't have to be. Because of traveling, I felt that I needed a major bank to deal with. The major bank I deal with couldn't be a better company to deal with. Each branch I have dealt with has been a joy to deal with. It is like each branch of this major bank is like an old time community bank.