I saw a number of complaints along these lines on the Boggleheads fora.
A reminder that Connecticut and New York will convert on March 12. Pennsylvania has been announced for April 16.
SubaruWRX
New Member
posted: Mar. 15, 2011 @ 9:40p
I have a question I've been with my bank since 1999 (First Union, Wachovia and now Wells Fargo) I have a question I went to check online and I made two deposits at the ATM but both say "PERC DELAYED CREDIT" What does that mean?
Yes but depends on the card and your banking relationship. My wf cc has free cell phone insurance , and when I upgraded my bank account to the pma package they expands my cc benefits to include price guarantee and some other benefits.
Their rewards cards aren't that great so I basically just charge my cell phone bill to it
No differences on the Wells Fargo card except for higher fees for usage and legal terms and mumbo jumbo. In other words, no advantages to me. Only advantageous to Wells Fargo so they can get a larger credit card base and generate more potential revenue.
Sure Wells Fargo has more branches and a larger marketshare. But it also comes at a detriment to Card Holders as competition gets thwarted and higher usage fees occur.
I did notice however that Wells Fargo did pass at me a no interest promotion for purchases for a short time period which I never used however.
Does anyone know what happens to these accounts now that they have "matured?" Does the bonus interest rate go away, and they become regular savings accounts with a fancy name?
kaneohe
Senior Member
posted: May. 29, 2011 @ 6:43p
sechs said: Well, I got exactly the 3% promised.
Does anyone know what happens to these accounts now that they have "matured?" Does the bonus interest rate go away, and they become regular savings accounts with a fancy name?
You'll probably want to check it out yourself to be sure but I got the impression from the rep (while I was closing the account) that the bonus would still apply but only on a max of $500 with some minimal % on any excess and no bonus on transfers in like W2S. You'd probably also want to check on any fees that would apply if the account was not active.
Based upon the the information from the banker with whom I spoke, and the message on my statement, it looks like there's no bonus rate after the thirteen months is up.
I will hold on for a month to see if this is incorrect, but I'm expecting only pennies in interest.
AdrianaGut
New Member
posted: Jun. 14, 2011 @ 5:00p
I am disgusted with the clumsy Wachovia -> Wells Fargo conversion! I have banked with Wachovia and it's predecessor banks for 30 years, gone through a number of mergers/conversions and this is THE WORST!
Have you noticed that on the main Bill Pay screen they changed the Payee Name to whatever was your "nickname" for the account in Wachovia?. So you want to pay Georgia Power, oh no, it doesn't show up that way. You have to figure out what the nickname was and, oh, it is truncated so half of it is missing...or if you didn't have a nickname it shows up as an account number! Are they nuts? Or just very, very stupid and arrogant? Customer service says you can't edit this, you have to delete and re-enter all of the accounts. Take it or leave it. Guess what? I'm leaving it!
It's ridiculous to have to read a 100 page document to transition to a different bank. I'm taking my business elsewhere and I'll bet I don't have too read 100 pages. And the extra 5 day lead time is the icing on the cake.
sechs said: North and Central Florida done. South Florida up next.
Date for Virginia is August 6.The conversion is upon us (in VA). We have received some information, and WF is not grandfathering our free checks, free safe deposit box, and who knows what else (Crown Classic). We've been with an iteration of Wachovia since the very early '60s. All other conversions were very customer-friendly (and grandfathered) compared to this change. I'm very sad, and angry.
Where in Northern VA is an acceptable bank? Alliant, NWFCU, TD, BOA(?), or some other suggestion?
Some of the tellers were not happy, either. Their concerns seemed to be that the bank was so large, it made it difficult for the customer service personnel to be able to offer local decisions for their customer. Very, very sad.
petergrant
New Member
posted: Jul. 10, 2011 @ 4:35p
Wachovia customer since 1989...my custom to manually downloaded all accounts every 4-6 weeks...got an email from Wells Fargo in May telling me of transition in June with NO mention of a HUGE issue...after June 11 transition it is IMPOSSIBLE to download Wachovia transactions previous to June 11 (I still had April/May to download). This despite directions on how to do that very thing on Wells Fargo website (the process described ends in an error message). On the phone for 1 hour, 2 reps, 1 supervisor, 2 dropped calls, 25 mins waiting...they think that manually copying all these transactions is an alternative and that they had no need to forewarn anyone it would be impossible to download after June 12!!!! No apology, no consideration, nothing except "you should have known"!!! This is the end of the road for my family and the banksters...we are closing ALL our accounts with Wells Fargo and joining a small local bank or credit union
Jorovi
New Member
posted: Jul. 15, 2011 @ 9:30a
Same thing is happening in Florida. Their system is absolutely the worst. They shouldhave just continued using the Wachovia system and changed the logo. They are also charging ones account 5 days before the checks reach the payee. Consequently they are making interest on the customers money. They have a take it or leave attitude whoch is going to cost them dearly.
Medikit
Member
posted: Jul. 17, 2011 @ 1:53a
I'm now seeing advertising for Wells Fargo Way2Save: https://www.wellsfargo.com/jump/enterprise/habits
I see what you all mean. I was just converted - and am quite dissatisfied. Mangled account names /nick names. No way to update the information about the bill I want to pay - other than a delete - re-add.
Loss of all transaction history other than in statements. Extended time to pay, but early withdrawals of monies
I'm trying to get my now-converted east coast W2S setup to get out what I can and am looking for some confirmation, since it's different than the west coast account.
As I understand it, there's no bonus, but the account will give a premium interest rate of 3% (which is, sadly, a good rate these days) on the first $500. The monthly fee is waived with a $300 daily balance, but, to get the premium rate, you need a recurring automatic transfer (monthly or daily) or a Save As You Go transfer each statement.
Does this sound right?
Medikit
Member
posted: Oct. 2, 2011 @ 10:19p
sechs said: I'm trying to get my now-converted east coast W2S setup to get out what I can and am looking for some confirmation, since it's different than the west coast account.
As I understand it, there's no bonus, but the account will give a premium interest rate of 3% (which is, sadly, a good rate these days) on the first $500. The monthly fee is waived with a $300 daily balance, but, to get the premium rate, you need a recurring automatic transfer (monthly or daily) or a Save As You Go transfer each statement.
I'm currently in the process of migrating all my billpay to an online bank, not sure what to do with my wachovia accounts after they convert. I might hang on to them for a while since they are looking better and better compared to most national chains.
Wells Fargo will keep the way to save that Wachovia had but not the free charges from savings to checking !! Very upset !! How r u goin to charge me to use my money !!! Thumbs Down for wells Fargo
denise08
New Member
posted: Nov. 10, 2011 @ 9:39a
Yes no advantage s to becoming a wells Fargo holder they make changes and dont fully explain also representatives say this is not Wachovia when u try to explain your problems wells Fargo definitely sucks
denise08
New Member
posted: Nov. 10, 2011 @ 10:09a
Wells Fargo will keep the way to save that Wachovia had but not the free charges from savings to checking !! Very upset !! How r u goin to charge me to use my money !!! Thumbs Down for wells Fargo
zazahan
Member
posted: Dec. 9, 2011 @ 6:29a
Medikit said: sechs said: I'm trying to get my now-converted east coast W2S setup to get out what I can and am looking for some confirmation, since it's different than the west coast account.
As I understand it, there's no bonus, but the account will give a premium interest rate of 3% (which is, sadly, a good rate these days) on the first $500. The monthly fee is waived with a $300 daily balance, but, to get the premium rate, you need a recurring automatic transfer (monthly or daily) or a Save As You Go transfer each statement.
I'm currently in the process of migrating all my billpay to an online bank, not sure what to do with my wachovia accounts after they convert. I might hang on to them for a while since they are looking better and better compared to most national chains.
I hope you are right. I got nothing from my email to the customer service. I don't know what is the current interest rate.
billolsen
New Member
posted: Feb. 2, 2012 @ 3:00p
Can anyone tell me what is in it for WF they keep calling me to get me to sign up for a PMA account, is it better than the crown accounts from wachoiva I went in today and the P.B. was pushing like crazy for me to put 100. into an account to start a relationship and start a PMA account just seems like theres a reason for the push will I be giving somthing up
billolsen said: Can anyone tell me what is in it for WF they keep calling me to get me to sign up for a PMA account, is it better than the crown accounts from wachoiva I went in today and the P.B. was pushing like crazy for me to put 100. into an account to start a relationship and start a PMA account just seems like theres a reason for the push will I be giving somthing up
PMA is Wells Fargo full featured account, but it requires 25K assets (10% of debt considered assets) to be free, otherwise it has a ridiculously high monthly fee. It does have some decent benefits though, if you qualify. At most banks, the customer service agents get paid, or need to maintain quota based on product count and upselling to higher accounts, so no doubt the sales rep is pushing the PMA accounts to meet his/her incentives.
TMaG82
Member
posted: Feb. 3, 2012 @ 6:51a
novocane said: billolsen said: Can anyone tell me what is in it for WF they keep calling me to get me to sign up for a PMA account, is it better than the crown accounts from wachoiva I went in today and the P.B. was pushing like crazy for me to put 100. into an account to start a relationship and start a PMA account just seems like theres a reason for the push will I be giving somthing up
PMA is Wells Fargo full featured account, but it requires 25K assets (10% of debt considered assets) to be free, otherwise it has a ridiculously high monthly fee. It does have some decent benefits though, if you qualify. At most banks, the customer service agents get paid, or need to maintain quota based on product count and upselling to higher accounts, so no doubt the sales rep is pushing the PMA accounts to meet his/her incentives.
It's 50k in some states. 10% can be mortgage balances. It's a great account if you're an investor as it offers 100 free trades per account, per year. But if you're not an investor, you can find better. Though if you're an active trader, 100 trades on most discount brokers would end up costing you anywhere from $4-10 per trade, whereas with the PMA package if you got dinged with the $30 monthly service fee but maximized your trades, it would end up being $360 for 100 trades, or $3.60 per trade. Even less if you add in an IRA which also gives you free trades.
billolsen said: Can anyone tell me what is in it for WF they keep calling me to get me to sign up for a PMA account, is it better than the crown accounts from wachoiva I went in today and the P.B. was pushing like crazy for me to put 100. into an account to start a relationship and start a PMA account just seems like theres a reason for the push will I be giving somthing upYou can have both accounts.
If you have a Crown Checking account, then, it seems to me, the only reason to open a PMA checking account is if you can qualify for the fee waiver *and* use the free WellsTrade trades.
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