Rate Your Bank!


By Dan8267   Follow   Mon, 19 Nov 2012, 11:20pm   1,887 views   25 comments
In Boca Raton FL 33433   Watch (1)   Share   Quote   Permalink   Like   Dislike (2)  

It seems that WellsFargo is forcing it's customers to give up paper statements if they want to keep using online banking. Hell, I never even signed up for a WellsFargo account. I ended up with one after several bank mergers over the past ten years.

Well, I'm considering moving to a new bank. So I thought I'd gather people's opinions on banks. So, everyone rate your bank. Rate brick'n'mortar banks and online-only banks and banks that do both.

Want to bitch about fees or praise an honest bank? Here's your chance. I guess I'll start so as to set the tone.

Wachovia, a bank that was bought out by Wells Fargo, had a pretty decent online banking system. Not nearly as good as what I would write if given the chance, but better than most I've seen. Wells Fargo's online banking is a bit lower quality but gets the job done. I'd be fine sticking with them if it weren't for the annoying splash page constantly nagging me to go paperless and now being forced to go paperless to keep using the website.

Wachovia (formally First Union) had a lot of ATMs that are now Wells Fargo ATMs in South Florida, but that's not terribly essential since you can withdraw cash at the grocery store for free.

No decent short-term saving options at the bank though. What few interest baring accounts they have are all negative interest in real terms (after inflation).

No real accounting software either. Just basic bill pay and transfers.

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  1. EBGuy


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    1   11:48pm Mon 19 Nov 2012   Share   Quote   Permalink   Like   Dislike (1)  

    Weasels! That's why I own their stock; however, they may lose me as a customer if they try that with me. Hopefully there is some CA law requiring them to send printed statements. I have to admit, they haven't done anything to tick me off in over a decade. We use online bill pay and have a credit card with them (1% back). They also own our mortgage.
    No real accounting software either.
    They do have expense tracking that allows you to classify payments and charges on a CC. Somewhat rudimentary, but it makes keep track of these types of things pretty easy.

  2. CaptainShuddup


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    2   6:53am Tue 20 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike  

    Dan8267 says

    (formally First Union)

    ...formerly Barnett.

    btw I'm in the same boat.

  3. coriacci1


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    3   6:59am Tue 20 Nov 2012   Share   Quote   Permalink   Like (3)   Dislike  

    credit union, credit union, credit union, credit union.

  4. Dan8267


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    4   3:40pm Tue 20 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike (1)  

  5. Dan8267


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    5   3:41pm Tue 20 Nov 2012   Share   Quote   Permalink   Like   Dislike (1)  

    coriacci1 says

    credit union, credit union, credit union, credit union.

    Which credit unions have good online banking? And how does it compare to the big banks?

  6. CaptainShuddup


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    6   4:32pm Tue 20 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike  

    I went to a Credit Union during the height of the OWS movement
    I figured there was so much buzz about it, that it must be worth checking into.

    I went to Morning Star and it was too much like joining Cost Co or something. It seemed less like a bank, and more like a place I pay for the privilege of keeping my money. Now I suppose, if I were one that liked to finance everything I do, it would have been good for the credit.

    But at the time Wachovia as it was then, seemed to be a better deal going. And for what I remember, so is Wels Fargo.

  7. CL


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    7   4:36pm Tue 20 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike  

    I'm with USAA. They're for military people, their families, and some extended members.

    They've been great. They are very pro-consumer, more like a credit-union in their demeanor. They give you all kinds of financial benefits, some are only great, but they also give you loads of free advice and refunds/rebates.

    They also do brokerage accounts, insurance, auto purchase discounts, etc.

  8. leo707


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    8   5:33pm Tue 20 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike (1)  

    CL says

    I'm with USAA. They're for military people, their families, and some extended members.

    I have a USAA account that I am happy with as well.

    I have a US Bank account that I hate.

    Dan8267 says

    Which credit unions have good online banking?

    I would like to move to a credit union, but good online banking has always been the rub.

  9. Dan8267


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    9   6:02pm Tue 20 Nov 2012   Share   Quote   Permalink   Like   Dislike (1)  

    Here's what I originally sent to Wells Fargo to clarify their ESign-2012 Consent form.

    I was reading the 'ESign-2012" consent form that Wells Fargo says I have to agree to in order to keep using online banking. That form can be downloaded at https://online.wellsfargo.com/das/common/pdfs/esign2012/ESign2012.pdf

    If I am understanding the form correctly, it states that if I want to use online banking I must give up my right to receive paper statements or pay a fee for paper statements. Is that true? Must I give up receiving paper statements to continue using electronic banking through the wellsfargo.com website?

    Well, that's pretty clear. How they could screw up a response is beyond me. Here's what Wells Fargo sent back, or more particularly, what some mindless drone in their bureaucracy sent back.

    Thank you for contacting Wells Fargo. It is my pleasure to assist you
    today.

    I received your email inquiring about the ESIGN Consent.

    The updated ESIGN Consent is based primarily on the versions that you
    reviewed and accepted when you first enrolled with Wells Fargo Online or
    Wells Fargo Business Online Banking.

    - The revised ESIGN Consent now covers electronic information delivered
    to you by any Wells Fargo affiliate through any of our electronic
    services.

    - It also reflects our preference to deliver account information and
    statements online to Wells Fargo Online customers, while continuing to
    give customers who prefer paper documents the option to receive those in
    the mail.

    Note: We will not change your delivery preferences without notifying you
    first.

    After reviewing this consent, you will need to accept in order to
    continue to use Wells Fargo Online and Wells Fargo Business Online
    Banking services.

    If you have any further questions, please call us anytime at
    1-800-956-4442.

    On behalf of Wells Fargo, thank you for your business. We are happy to
    have you as our customer and appreciate the opportunity to assist you
    today.

    Sincerely,
    Wells Fargo Online Customer Service

    Here's my reply to that...

    The marketing text you copy and pasted did not answer my question. When I "accept" the ESign "consent" that is being forced on me, will I no longer receive paper statements? A simple "yes" or "no" is all that is required. If you feel the need to make yourself "look better" after giving the yes or no, then fine, but say yes or no clearly at the beginning of the response.

    Also, Wells Fargo has a very weird interpretation of "consent". Forcing someone to accept terms is hardly consent. That's why I won't let Wells Fargo date my daughter.

    I have little patience for companies that waste my time.

  10. New Renter


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    10   7:09pm Tue 20 Nov 2012   Share   Quote   Permalink   Like   Dislike (1)  

    I'd be happy to recommend my CU but they are limited to the south BA. Excellent online banking though.

  11. woppa


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    11   7:47pm Tue 20 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike (1)  

    I have to ask why you value paper statements so highly? I feel they are a bother as is most of the crap mail I receive, a security risk when I rip them up and throw them in the trash, and a terribly environmentally unfriendly practice. What's worse are the cable and satellite companies who send me the same junk mail every 2 weeks. I can't even imagine how many trees are cut down when you add it all up.

  12. Dan8267


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    12   8:11pm Tue 20 Nov 2012   Share   Quote   Permalink   Like   Dislike  

    woppa says

    I have to ask why you value paper statements so highly?

    I don't trust the bank not spamming the hell out of me if I rely on email. Besides, if it's cheap enough to send me all that junk mail, then it's cheap enough to send paper statements.

    I supposed I'd be willing to go paperless if banks were willing to agree in writing to never put ads for their products on the online banking site and never to give out my email address or other contact or personal information. But since they aren't, I have to be able to shut down the email address I gave the bank at any microsecond to turn off spam, and that means paper statements are a fallback.

  13. Bigsby


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    13   8:17pm Tue 20 Nov 2012   Share   Quote   Permalink   Like   Dislike  

    Dan8267 says

    I don't trust the bank not spamming the hell out of me if I rely on email. Besides, if it's cheap enough to send me all that junk mail, then it's cheap enough to send paper statements.

    I'm paperless with 4 banks and have never received junk mail from them. They seem to prefer hitting you with the spam when you log on.

  14. woppa


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    14   8:17pm Tue 20 Nov 2012   Share   Quote   Permalink   Like   Dislike  

    I use my primary email address and haven't been spammed very badly with chase and Citibank. The trees man! Your kids will appreciate the clean air!

  15. Dan8267


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    15   8:28pm Tue 20 Nov 2012   Share   Quote   Permalink   Like   Dislike  

    woppa says

    I use my primary email address and haven't been spammed very badly with chase and Citibank. The trees man! Your kids will appreciate the clean air!

    99% of the paper waste in my trash is junk mail. How do I save the trees?

  16. woppa


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    16   9:04pm Tue 20 Nov 2012   Share   Quote   Permalink   Like   Dislike  

    Here's 8 tips to start...it takes a small amount of effort but it's absolutely worth it.

    http://earth911.com/news/2011/08/18/8-ways-to-reduce-your-junk-mail/

  17. Dan8267


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    17   8:56am Wed 21 Nov 2012   Share   Quote   Permalink   Like   Dislike  

    woppa says

    Here's 8 tips to start...it takes a small amount of effort but it's absolutely worth it.

    http://earth911.com/news/2011/08/18/8-ways-to-reduce-your-junk-mail/

    1. Choose your catalogs
    I never sign up for catalogs

    2. Cut down on credit card offers
    I never respond to those credit card offers.

    3. Ditch the direct mail
    Did that. It does nothing to reduce junk mail. Spammers don't care about your consent.

    4. Put the phone book on hold
    Not relevant to junk mail.

    5. Charity, not clutter
    Not relevant to junk mail.

    6. Return to sender
    Did that, doesn't work.

    7. Hire others to reduce your junk mail for you
    I refuse to pay extortion fees. Now if they assassinated the spammers, I'd consider paying the fee.

    8. Proceed with caution
    I don't give out contact info to any corp I don't have to. But I have to give it out to my bank, and they sell it to everyone.

  18. HHF


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    18   3:24am Tue 5 Mar 2013   Share   Quote   Permalink   Like   Dislike  

    So did they ever clarify this with you?

  19. Dan8267


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    19   7:49am Tue 5 Mar 2013   Share   Quote   Permalink   Like   Dislike  

    HHF says

    So did they ever clarify this with you?

    Yeah, I sent them a few emails asking them for specifics. Eventually they said that you didn't have to forgo paper statements to use the website. But if you sign up for electronic statements, you do give up paper statements. The wording in their ESign document was very confusing.

  20. Dan8267


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    20   7:49am Tue 5 Mar 2013   Share   Quote   Permalink   Like   Dislike  

    donjumpsuit says

    Try that with BOA or Chase.

    BoA? I don't want to get shot while making a deposit.

  21. Jimbo in SF


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    21   8:57am Tue 5 Mar 2013   Share   Quote   Permalink   Like   Dislike  

    Dan8267 says

    I supposed I'd be willing to go paperless

    I don't quite understand ... if you really want a paper version, you can simply print any of your statements from the PDF's that are posted with your Wells Fargo account. I guess you might want to save the cost of paper & ink ?

    My experience with WF is that I get a 'welcome screen' ad when I log in, but I don't think I've received spam emails from them ... just notifications about statements or ATM withdrawals.

  22. Dan8267


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    22   4:24pm Tue 5 Mar 2013   Share   Quote   Permalink   Like   Dislike  

    I'm willing to go paperless for a guarantee of a few things including zero ads ever. I'm not so keen on going paperless for nothing.

    You used to get checks returned at the end of a cycle. Proof that you paid a bill and it was cashed. Then they said you wouldn't get the actual check back, but you could always get a PDF of it. Now you can only get the PDF for the current cycle unless you pay a fee. So you have to religiously download every PDF or you risk not being able to prove you paid something without paying a fee. Banks have a tendency to slowly atrophy your powers and slowly crank up fees.

    I'd trust banks more if they didn't have such an ample and recent history of totally fucking over their customers. As such, I'm a bit skeptical of their long-term plans.

  23. seaside


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    23   4:59pm Tue 5 Mar 2013   Share   Quote   Permalink   Like   Dislike  

    Dan8267 says

    Wachovia (formally First Union) had a lot of ATMs that are now Wells Fargo ATMs in South Florida, but that's not terribly essential since you can withdraw cash at the grocery store for free.

    I openned my accounts w/ first union, then later it become WF. My wife told me it was first virginia when she openned hers. They took 2 bucks per month out of my account for sending me a paper bill, and they won't offer me free box of checks any more. Wachovia used to temporarily raise my saving interest rate for 90 days from time to time upon request, but WF said no to that. This somewhat pisses us, but we are still on it because the ATMs are everywhere, right next to the metro station to her way to work.

  24. SASSYGIRL


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    24   8:48am Mon 18 Mar 2013   Share   Quote   Permalink   Like   Dislike  

    I AM NOT GOING TO SIGN THEIR ESIGN CONSENT. ALL I WANT TO DO IS LOOK AT MY ACCOUNTS TO SEE WHAT CHECKS HAVE CLEARED WHAT CHARGES HAVE BEEN POSTED TO MY CREDIT CARD ACCT. I DO NOT WANT TO TRANSFER MONEY ON LINE AND ETC. I FEEL AS A CUSTOMER THAT I HAVE NO VALUE WITH THEM. THE BANK EMPLOYEE TOLD ME I HAD NO CHOICE, I SAID YES I DO I CAN CLOSE MY 4 ACCOUNTS AND GO TO ANOTHER BANK. I HAVE BEEN WITH THIS BANK 45 YEARS. IT WAS NATIONAL CITY BACK THEN.
    (READ ALL THE DETAILS ABOUT WHAT SOFTWARE AND A SPECIFIC BRAND OR TYPE OF DEVICE THAT SUPPORTS A PARTICULAR SOFTWARE APPLICATIONS THAT YOU MIGHT NEED BEFORE YOU SIGN.) IF I GIVE SOMEONE MY BUSINESS I WANT THEM TO APPRECIATE IT .

  25. exflirt


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    25   10:28pm Mon 18 Mar 2013   Share   Quote   Permalink   Like   Dislike  

    USAA is the best manager of my money that I've ever had. I never pay a fee for anything. Their financial services are available to non-members. Everyone who has them, loves them.

    Look under "Other Individuals":

    https://www.usaa.com/inet/pages/why_choose_usaa_main?showtab=legacyPassDown

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