Wells Fargobait and switch

Late last year, I went into a local Wells Fargo branch to speak to a "personal banker". WF holds my home mortgage, and to simplify things in the new year, I wanted to consolidate all of my accounts - business checking, personal checking, savings, and a substantial 401K. Since WF held my mortgage, I thought it would make sense to put everything there. Capital city Bank had my business account 10 years. I was satisfied with their service. My retirement was with a private firm, and I had the same adviser for over 10 years. I liked and trusted him.

The personal banker I saw that day promised me the moon if I transferred all accounts to WF. Retirement, business checking, a charge card with a small balance, and a small business loan. He said he could consolidate my debt with a 0% 15 month balance transfer, since my mortgage was already there. There were also many other offers and perks on the table, including refinancing my home.

To make a very long story short, once my 401K was transferred, all other offers were off the table. Applications and appeals were denied. I never did find out why. My "personal banker" could not or would not tell me what the problem was. I have a good credit rating, a stable work history, and have never had a late payment with my Wells Fargo mortgage. And yet, the "underwriters" didn't want me. They sure were happy with the $175, 000 401K I transferred, though.

After two months, I gave up. I am still upset, however, because I never did get an answer.

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