Stoopid Wells Fargo!

[nunzia]

Another bank sneaks in yet more fees...OK..just dumped $1,500 into my WF checking account to avoid $7.00 month fees, and NOW when I got some cash out (to buy a Disney GC to go to DLR) I get a NEW little wrinkle print out..any use of the debit card triggers a $3.00 month fee..so I called and found out my auto transfers and stuff won't do this (or so they say), so I guess we won't be using the debit card anymore...cash checks or charge from now on..if you don't watch it or jump through hoops..you are out an easy $10 a month..

 

[carymomof3]

Another bank sneaks in yet more fees...OK..just dumped $1,500 into my WF checking account to avoid $7.00 month fees, and NOW when I got some cash out (to buy a Disney GC to go to DLR) I get a NEW little wrinkle print out..any use of the debit card triggers a $3.00 month fee..so I called and found out my auto transfers and stuff won't do this (or so they say), so I guess we won't be using the debit card anymore...cash checks or charge from now on..if you don't watch it or jump through hoops..you are out an easy $10 a month..

Exactly why we've just switched from WF to a credit union. No fees and they pay us for using our debit card!

 

[jcano]

I'm too attached to my debit card. Checking into the local credit union next week.

 

[Swimalie]

I'm too attached to my debit card. Checking into the local credit union next week.

My husband closed his credit union account when they started charging him a monthly fee just for having the account. So not all credit unions are the same.

As for Wells Fargo, so far I haven't had any fees. I keep well more than $1500 in one of my accounts there and I don't use a debit card. I'm just waiting for them to find some way to charge me for something soon. And when they do, I'm leaving them as well.

 

[Alsobrook]

FYI

Every big bank will start charging a fee on a monthly basis for your using a debit card. If you only use it as an ATM, no charge..... the reason is, and this is in no way meant to be a political post..... the Dodd/Frank bill which capped the amount that banks can charge for debit card transactions. They used to make HUGE fees with every swipe of your card (they charge the merchant a percentage, and it was slightly less than a credit card percentage). With teh Dodd/Frank Bill that was passed, these fees are capped at something like 12 cents per swipe.

So, to recoup the fees, the banks now charge a flat monthly fee for the privilege of using the card.

As a minor little rant here.... lots of banks, including Wells Fargo, have student accounts that do not charge this fee. The idea is......suck you in as a student....get you used to using a debit card, and then you'll roll over and accept the fee later on.

 

[SaraJayne]

My DH just pulled a substantial amount of money from one of our banks due to an $11 a month charge, just to have an account.

A $9 maintenance fee, as well as a $2 service fee. So basically, they were charging us $2 to take out the $9.

He's taking it all to our credit union, that has no fees.

 

[furb & dez]

This fee is only in certain states... no fees here in AZ!

 

[carymomof3]

This fee is only in certain states... no fees here in AZ!

The fees are coming everywhere They're "testing" them in certain states, but I don't doubt the test will become the rule.

 

[cbg1027]

I know it's not exactly easy....but I don't understand why people aren't switching banks to places that don't charge to use a debit card.
That's the only thing that is really going to send a message to these companies that people are unhappy and not willing to put up with it. It doesn't matter how much we complain about the fees if we keep using the service anyway. What do they care if we're happy or not as long as they're getting paid?

I use a local bank and they don't charge me for using my debit card. If they did, then I'd switch somewhere else!

 

[Alsobrook]

People are switching. Just wait until November through January when most of the fees start to hit.

 

[nunzia]

This fee is only in certain states... no fees here in AZ!

oh,just wait. It seems that since I OPENED my account in Nevada, even though I no longer live there..I get hit.

 

[nunzia]

I know it's not exactly easy....but I don't understand why people aren't switching banks to places that don't charge to use a debit card.
That's the only thing that is really going to send a message to these companies that people are unhappy and not willing to put up with it. It doesn't matter how much we complain about the fees if we keep using the service anyway. What do they care if we're happy or not as long as they're getting paid?

I use a local bank and they don't charge me for using my debit card. If they did, then I'd switch somewhere else!

that is why I'm doing things to NOT get hit with the fees..if that becomes impossible I'll switch. I have so many things set up through my bank that it would be a real pain to switch. As long as I can avoid the fees, I'll stay. What gets me, is, since I won't use my debit card AT ALL they won't get even the reduced amount per transaction from the business that the gov't is allowing..now they will get nothing. I'd love if everyone just quit using all debit cards from banks that charge..they'll lose alot more than that new fee..they lose all the transactions fees they get from each business at each swipe.

 

[superme80]

DH has been researching the fees and is now open to changing banks! Can't wait to go shopping!!!!!

 

[Swimalie]

I know it's not exactly easy....but I don't understand why people aren't switching banks to places that don't charge to use a debit card.
That's the only thing that is really going to send a message to these companies that people are unhappy and not willing to put up with it. It doesn't matter how much we complain about the fees if we keep using the service anyway. What do they care if we're happy or not as long as they're getting paid?

I use a local bank and they don't charge me for using my debit card. If they did, then I'd switch somewhere else!

In addition to switching another option is to just stop using a debit card. Cancel it and get an ATM only card. It's another way the banks won't get their added fee.

 

[karice2]

This could also be why certain stores started offering a debit card instead of a credit card. I know for sure that Target and Nordstrom have their own debit cards. It is linked to your account but you swipe their card instead of your debit card. They also give a decent type of discount for using their card.

 

[DawnM]

When I went in to BofA I was told that you will not be charged a fee if you:

1. have your mortgage with them
2. have direct deposit of over $1,200
3. have a balance of $5,000 or more


We have 2 of the 3 and I was told I will not get charged when they start the fees.

However, the day I do pay anything for my account, we will pull out our $$.

Dawn

 

[Janepod]

We also have a large enough balance with our bank (Citi) to avoid fees. But if everyone starts switching over to checks, and every time I run into the grocery store I'm behind someone writing a check ... oh, I don't want to go there.

 

[mbf]

I stopped writing checks altogether. I found that between the stores that voided them at the register (and I would end up with a purse full of voided checks) and the stores that just stopped taking checks altogether it became a waste. I only have occasion to actually write a check maybe two times a year now and for that I can always get a postal money order. I love that my DD's dance teacher takes Pay Pal now lol. Makes paying her very easy because I can pay ahead if I want and she doesn't have to write any receipts!

I am at a credit union now and while they have a charge for each debit card transaction they encourage and advise all of their members to swipe their cards as a "credit" which causes no fee. This only is an issue at stores like Aldi where they do not have the option of using "credit". Other than that there are no fees (yet) except to have a savings account with a minimum $5 balance which is your "stock" in the CU.

I also have a Key Bank account that I use as a Disney/Christmas savings account and this year they started charging a $20 a year fee for their Rewards program. I neglected to opt out (which I could have but got lax on letting them know) so shame on me. I am waiting to see where that bank goes with the fees though and if they do go any farther I will be leaving them. I just like having a separate debit card for certain things like reserving hotel rooms etc. Kind of a compartmentalized thinking thing on my part.

 

[ScottOKW2K]

Don't put all the blame on Wells Fargo and others. Some if it belongs to the two whom the bill is named after. Consider it yet another case of the "Law of Unintended Consequences".

 

[funnygarcia]

oh,just wait. It seems that since I OPENED my account in Nevada, even though I no longer live there..I get hit.

I opened my account in CA, read the fee changes coming in November. and was pissed! I asked at a local branch here in MN... no fees as long as I have a monthly direct deposit or savings account transfer of $25 per month. The bank rep was able to switch the account so now I am under MN rules. I prefer having an account of my own, but I don't have direct deposit on a routine basis.


If.. when?.. the rules change again, I might need to say goodbye to my account. booooooooo!

Also if you are a teacher, Wells Fargo will offer you a premium account, you show them your teacher association card to sign up. No fees, free check printing, free money orders.