Charlie better be paying attention. Apple stepping up to the plate to serve our customers where Charlie won’t, I’m surprised customers don’t pull all of their cash out. There are so many better options out there to keep your cash than WFC.
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@1fn+ How’s that boot taste?
The sucking sound you hear is my money leaving. Bye, bye baby.
Customers are only a necessary nuisance to WF. We think so little of them, we give them SVB! Hahaa!
Wells Fargo is the bank for the financially- undereducated.
They capitalize on people’s ignorance: embarrassingly low interest on savings, high interest on credit cards, high fees on “managed money” and financial advice, fees for checking accounts which are free elsewhere, high fees for overdrafts.
Wells makes all their money off their customers failing. Nice business model.
Exiting branches and the mortgage business ended up being a lost opportunity with what's happening with regional banks. Truly infuriating.
Made more money in a month with Citi than I did with Wells in over a decade in interest.
Love my new apple account. Pulled my money out and left this s&$t hole. Bye bye Wells!!!!!!!!!!!
This is yet another perfect example of Wells Fargo failing to understand and serve their customer’s best interests.
Similar to Blockbuster mistakenly thinking Netflix was not going to challenge their business model.
The Apple HYSA is, of course, FDIC insured.
Be wary of any non-bank operating as a bank. No threat at all to WF.
Is Apple FDIC? Wf is.
Yes - Apple is not a bank and Wells Fargo has nothing to compete or compare with. As in all cases, comparisons lead to shame guilt and sadness. Looking within and being a better bank to serve the huge existing Customer base remains and will remain the Stagecoach Style of moving forward. Imagine how much interested would be folks to invest in any investment product of Apple. Personally I would not. Love Wells to the Moon and back.
That’s not how interest rates work. Interest rates are designed to “purchase” cash from consumers. Cash is a product to be bought and sold. Large banks don’t need more cash, so they pay lower rates knowing they can risk losing deposits and keep a healthy balance sheet. This is why small banks, online banks, or in this case Apple, have high rates. They are trying to purchase cash from consumers at 4.15%, or whatever the rate is. If Wells feels like they need more cash they will increase rates or offer promotions to bring an influx of deposits. They know what they’re doing.