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Wells Fargo / denied a bank account!

1 Albertsons Grocery StoreMorro Bay, CA, United States Review updated:

My wife and I have had a bank account with our local bank for 29 years. We recently bought a home in another county and our bank does not have a branch there so we had to switch banks. We have never bounced a check in fact were told we were platinum account holders in good standing. We closed our savings out received a cashiers check for a substantial amount and went to Wells Fargo. We also just bought our leased $43, ooo car with Nissan who financed it at 5% for the remaining $19, 000 owed after we put down $8, 000. 4 years ago my wife almost died and we had major medical bills. We paid much of what was owed until we spent all of my 401 savings. We had to go bankrupt. We however kept our American Express Card and owed very little other than medical we had no choice.

When we got to Wells Fargo the teller could barely speak English and we had a hard time understanding her. After taking all of our information she told us they could not give us a account because of our bankruptcy. We were not asking for a loan just a checking and savings account. And we did not authorize a credit check or was told they were going to do one. Our poor credit score since buying a home has taken a lot of hits with everyone checking it which I authorized who is Wells Fargo to not tell us the criteria before running our credit?

My wife started crying, and could barely breath here we had closed our account and now told that all banks will run this type of check. We went to Bank of America asked them first and they checked and we were not denied they said our name came up clear.

We also are concerned about when we applied they kept insisting we open a checking where they take $75 a month out of our checking and put it in our savings? We said we did not want this. They insisted it was there way to help us save>?? My wife finally said we just want a normal checking and savings account. They then said well we will just take out $25 and put in your savings. What on earth is this? Since we did not mind them we feel they ran our credit and saw the BK and made the decision that they have a rule that until the BK is 11 years old they do not allow accounts. I am looking for somewhere to find out if this is true. And also why they are pushing to take money out of our checking every month and put it in our savings. BTW we had a very substantial check to deposit why would we need them to help us save money?

Something is seriously wrong here. Plus my wife went through horrible embarrassment and physically distress over this.

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Comments

  • Wa
      29th of Mar, 2008
    0 Votes

    I went last week and closed a Cd at Fredmont Investments. for the sum of 270K took the money to Well Fargo to open an Saving account. we sat down they did all the input into the computer. the computer came back saying Equifax says you have bad credit and can not open account with us. I have two account there allready with over 160K. I was shocked I wanted to speak to the manager she was out to lunch. but he called her and said if it came back from equifz then there nothing I could do. I know I have good credit perfect infact. So now I have to contact Equifax to find out if I was a case of Idenidey fraud. But No that was not the case my credit report was perfect!!! So I sent the next two days on the phone with wells fargo noone could help me. So I holding a check for 270, 000.00 that's in a bank that mite be folding. so I take the money and put it in Wachovia. then I go back to work on wells fargo on the phone for almost 6 hour's talked to seven people. finaly at the end of the day the last person asked me for the tax id number I gave for that account. and the ### at the Bank when I was opening the account had put in the wrong tax Id number. So I called the branch back . and I got We are sorry. thats it after three days on the phone paying for credit reports I get I We are sorry. I was getting ready to pay cash for a house the check from fredmont Investment was on a Wells fargo check and would of cleared next day . but now I put it in wachovia. banks are not what they use to be.. your money is not even safe in banks anymore... I hate Wells fargo bank.. Always have they where good when they where crocker bank...

  • Al
      14th of Apr, 2008
    0 Votes

    just a bit of info that might help u .. wellsfargo charges a monthly fee of $10 for the saving account .. this can be avoided by regularly tranferring a certain amount from your checking account to your saving account ... i think this is around the amount that u mentioned ... if u are short on money, u can always recycle the amount, meaning, set up auto tranfer for the minimum amount to be transferred to the saving a/c say on the 10th of every month, then setup another autotransfer to transfer that amount back to ur checking account from ur saving account ...

  • St
      12th of May, 2009
    0 Votes

    I used to be a former banker at wells fargo. Wells fargo is a very good bank because they are not hurting or needing a loan from the government. However they are extremely strick on their policy and follow everything by the book. It is one of the few banks that I know that always goes by the book, associates or banker, employees at Wells Fargo cannot overwrite the system, customers information is just inputed and all the questions asked by the system. So the system does a check for chex systems, or bankrupt and if anything shows, then wells will deny the account. They will not go by your credit score or anything like that, but if chex systems shows something or bankruptcy then yes unfortunately an account will be denied. As far as the $75, it is just a way to avoid paying any monthtly service fees, more than likely they wanted to set u up with the complete advantage checking and savings. The checking has a $12 monthly service fee, but it comes with a lot of free products like checks, cashiers checks etc, and even interest paid on your money. The savings is also one of the best savings but it has a $1o monthly service fee, however if you have a scheduled reacurring transfer of $75 or more once a month which you set up the date and you could always transfer it back to your checking, then the system will recognize thats a package and you don't pay any service fees for either one and get benefit from all those free products. As far as bank of america to the best of my knowledge they do alot of fraud and scam that they even make up social security numbers for people that dont have any, and change information on the system just for you to get approved for them to get the credit for the product. I don't work at wells fargo, they are not a good bank to work due to them not letting us overwrite the system so yes too many complaints and people getting upset over fees, not our fault thats just the way everything is set up. So if they said no to you, your not the only one.

  • Ja
      28th of Sep, 2009
    0 Votes

    Please Stephanie...why dont you look at what your excellent by the book bank is doing to people who are doing everything by THEIR book and still getting screwed daily!!
    Wells Fargo SUCKS.

  • Ba
      20th of Dec, 2009
    0 Votes

    You cannot be mad at a bank because YOU have something reporting on Chexsystems or Equifax. This is no fault of the bank, and something that you should be aware of. To be upset is quite understandable, but to be mad is plain old ignorant. Stephanie was correct in describing what the monthly transfer is for. However, Wells Fargo has many options that are tailored to specific customer needs. The banker you were working with should have asked you a bunch of questions and made an informed reccomendation based on your answers.

  • Ma
      4th of May, 2016
    0 Votes

    Wells Fargo also denied my application for a business account. I went to bank of America and had no issues or problems (which means I opened 2 business accounts as well as a business savings and a personal checking and savings). Bank of America is A+ in my book!

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