Its OFFICIAL. I moved my money out of Wells Fargo today.

[Firebrand Gary]

I hade four accounts including a checking, savings, retirement and a way 2 save account and I have closed all four of them. When I approached the teller and advised him of my transaction he brought me over to the branch manager where she proceeded to close my accounts. Never before in my life have I received such an incredible guest service experience at Wells Fargo? She was polite, courteous and asked me if there was anything else that she could do to get me to stay to which I replied, "Thank you but no, my place is with the people of Main St."

[badtoworse]

1. What's wrong with Wells Fargo?

They gave us a great deal on refinancing our mortgage and they always treat us nice when we're in the bank

[midnight]

3. Was your mortgage underwater? They treat those with underwater mortgages to higher rates

not lower. I think that is one reason that there is something wrong with them...

[badtoworse]

11. No, it was not underwater

I wouldn't think they would refinance an underwater mortgage at all, let alone at a lower rate. The risk is much higher on underwater property.

[EFerrari]

13. Go search Wells Fargo foreclosure fraud. nt

[badtoworse]

20. Are they any worse than the other banks? It appears they're not alone in that department.

[girl gone mad]

21. And?

[expatriate2mex]

26. And is it better to keep your money under a mattress?

I do my banking with Navy Federal Credit Union before you ask.

[Selatius]

28. A credit union is a far better alternative at any rate. The depositors are the owners.

In a traditional bank, the interests of the depositors are subordinate to the driving goal of profits first for the shareholders of the bank.

[expatriate2mex]

40. Absolutely right, I highly recommend anyone

that can to use one.

[Dawgs]

42. Navy is no better than a bank. They shouldn't be allowed to call themselves a CU. n/t

[expatriate2mex]

43. You are very wrong and they are a credit union.nt

[Firebrand Gary]

7. I refuse to support Wall St.

It was just a decision that I made.

[Thegonagle]

14. Polite customer service doesn't make up for cruddy policies.

They still have little signs they put out at about 2 PM that say "Teller on Next Business Day."

WTF is that about? I've never even seen that in a credit union, so I know it's total bullshit. It might not have been bullshit in the 50's, when banks had to reconcile everything by hand, but in 2011, when the computers can do everything instantly, it's clearly a ploy to get more fees.

Do the other big banks still do that? If so, they can all fuck the fuck off.

[Selatius]

15. They engaged in systemic document fraud with respect to foreclosing on homeowners.

Google the term robo-signing. Wells Fargo, Bank of America, Citibank, etc. have been notorious for this.

[bbinacan]

2. Where did you move it to. n/t

[Firebrand Gary]

5. To a local Credit Union.

They are superior to Wells. I actually opened two of the accounts about eight months ago, I wanted to essentially "put them to the test" before moving my retirement account. Best move that I have made in a long time.

[expatriate2mex]

27. Yep, or even non local. NFCU and USAA are both easy to deal with long distance.

I do it from Mexico. I know everyone can't belong to these though.

[Firebrand Gary]

31. NFCU is who I went with. Good call!

[expatriate2mex]

39. Excellent, I have been a member there since the 70's.NT

[Name removed]

4. Deleted message

Sub-thread removed by moderator. Click here to review the message board rules.

[LuvNewcastle]

6. That's a good thing.

I hope a lot more of their customers do the same thing.:toast:

[stevedeshazer]

8. As a former Wells Fargo agent,

I approve your message.

I really needed the job, so I took it.

Two years later, I had to throw up every morning before I went to work because I had figured out what a ripoff of consumers this racket was/is.

Credit unions rule.

[Firebrand Gary]

16. Thanks Steve, I should have done it long ago.

You and I share a similar story.

I took a job a few years back with World Savings. It was great in the beginning, I was happy, the people were great, life was good. After about a year it started to become a very different story. I was on the savings side and the only direction that was coming down from our corporate offices were to push the loan "products". We were always expected to offer loan "products" but it was not our focus, we were the savings side. It got to the point to where all that we were expected to do was offer loans? That was not why I took the job.

I got to the point to where I was miserable, also throwing up before work, depression, I started to gain weight which triggered hypertension. I was in hell.

Never again! Some lessons you only have to learn once.

[stevedeshazer]

19. I didn't even mention the depression and weight gain.

I now weigh 40 pounds less and make 40% less.

And I'm happy and my blood pressure is down. I drive a delivery truck. I set my own schedule, more or less.

Man, that was hell.

We have something in common, brother Gary.

[FarCenter]

23. World Savings is now part of Wells Fargo

World Savings was acquired by Golden West Financial in 1975. http://en.wikipedia.org/wiki/Golden_West_Financial

Herb and Marion Sandler, CEOs of Golden West were mortgage "innovaters". Under their leadership, Golden West invented the Adjustable Rate Mortgage (essentially a bait and switch fraud opportunity on interest rates) as well as the even more destructive Pick-a-Pay mortgage, where any shortages in the borrowers payment were simply tacked onto a growing principle amount.

They should be in prison in orange jump suits making small rocks out of large rocks in the hot sun.

Wachovia (actually First Union which had taken Wachovia's name when it acquired Wachovia in 2001), in a stroke of mergers and acquisitions genius, acquired Golden West as announced in 2006, closing in 2008 at the height of the mortgage bubble.

Ingesting the poisonous Golden West caused Wachovia to fail, and it was rescued by an arranged acquisition by Wells Fargo in late 2008.

[dkf]

36. Exactly what did you do that was wrong?

[Fuddnik]

9. I dumped them about 8 months ago.

Two checking accounts, a savings account, Way to Save.

I love the former Wachovia local staff. They've always been great. But, corporate has screwed with my mortgage, three times in three years, and it's taken me months to straighten out their screw ups, and they're a nightmare to deal with.

I went with a local credit union too.

[EFerrari]

10. Thank you, Gary.

:applause:

[Firebrand Gary]

17. Thanks EFerrari, I am committed to doing every single thing in my power.

I hope many people realize that they can no longer afford to sit on the sidelines.

[EFerrari]

24. Yes, this is the jumping off place.

We need to remember how well divestment worked to end apartheid in South Africa and consider if we, too, deserve to be freed from oppressive misused capital. :hi:

[Kaleko]

29. Yes, by all means, let's consider that...

Might even get contemplative for a moment here. :D

[Iwillnevergiveup]

12. Mass closures like this

go hand-in-hand with the Occupy movement.

Congratulations on moving your money. I just re-fi'd yesterday at Chase. Cost me $395 with an interest rate of 4% from 5.5, but I'm not underwater. Noticed the same thing about the service - 3 people fell all over me to help - even brought me water! After awhile, I'm gonna see what my credit union can do, but am happy enough with the reduced interest rate for now.

[Huey P. Long]

18. I will be participating as well. -eom

[Firebrand Gary]

41. We need to take as much power away from the 1% as possible.

I pray that people are finally waking up.

[Fire Walk With Me]

22. Good on you!

[glinda]

25. Congratulations. We are free from them on the 1st. Started moving

our mortgage and husband's retirements stuffs all over to our CU. They refinanced us so we pay less. Another thing is that Wells gave us a mortgage HOPING we would fail. We kept making payments even though it has been tight. We hope our future will be brighter. And yours also!

[Firebrand Gary]

33. Thanks glinda

Congratulations as well! Your future will be bright, I believe that. I think you and your husband are going to be much happier. =) I weighed the decision for a while and realized that there is nothing to be cautious about, so I just did.

Heads up, when you are finished moving all of your accounts you are going to feel like a MILLION BUCKS!

[nilram]

30. Right ON, K&R

I'm not in a good spot to refinance my Chase mortgage, but everything else is with my credit union. I'm about to get a credit card with them, then I'll toss my BofA one.

[Bozita]

32. "Thank you but no, my place is with the people of Main St." - BEST line today!

Just beautiful!

[burrowowl]

34. Good on you!

Wells Fargo, Bank of America are GANGSTERS and should be PROSECUTED!

[KharmaTrain]

35. They Lost My Mortgage Earlier This Year...

I had been with Wells Fargo since '94 and decided it was time to refinance. Over the years we never missed a payment and had a substantial amount paid off. All I wanted was a lower rate and we'd pay fees and save a bunch of money in the long run. Instead we got a runaround...as if we were applying for the first time. Screw 'em. I went with another lender, got a better rate and Wells Fargo lost the account.

[dogknob]

37. Yay!

:bounce:

[Firebrand Gary]

38. Thank you! Welcome to DU my friend!

[liam_laddie]

44. Moved my account to a local S&L

Last week, I moved my account from the tenth-largest bank in the USA to a 6500-member S&L.
Feels good! I told both that this was primarily a political statement, that the bank's loss
is "collateral damage."