Wells Fargo to charge $7 fee on more checking accounts

[truedelphi]

22. This is the least note worthy and least nefarious of the practices that WF uses

To separate the working poor from her money.

Last April 24th, while doing business at WF, I watched from my chair outside the cubicle where a young woman was opening her checking account.

The financial officer opening the account gave a pitch for this woman to 'do the smart thing" and to open up a checking account that "encourages savings."

And the whole sad deal is that what this "checking account to encourage a person to save money" does is that once a month, it throws $ 75 from your checking into a savings account.

The woman in question was wearing a thread bare bare of jeans and a stained teeshirt. She looked like someone who works two jobs, or one job and then care gives others (kids, a sick parent, who knows.)

How in the heck is she going to compensate for the fact that she doesn't make enough money to afford to have the seventy five dollar a month roll over from checking over to somewhere else/.

She will end up spending more than $ 75 on the NSF fees.