What outrageous fees can I expect when I no longer receive the employee benefits from banking with WF? Wondering if I should be proactive & withdraw all my money now.
12 replies (most recent on top)
never, ever, bank where you work. not specific to WF. your personal finances and where your money comes from and goes to should not be knowable to your employer.
I still have a free safe deposit box, from an old legacy employee benefit. Other than that, I think the other accounts I have are if no value being still employed.
Credit Union.....all day long.
Also, had a co-worker that was probably "double dipping" with a mortgage serviced by WF. He got a call from employee conduct when he made several doubled mortgage payments. They claimed it needed to be investigated for bank secrecy act (more than $10), but it was the conduct people calling. He resigned shortly after that.
Just as one should never sleep with a coworker, one should never bank with their employer.
Why would you continue to keep your money in a bank that hates you? Move accounts to another bank and be done with Wells altogether.
If you are legacy WB then your payroll account was switched to a Command account many years ago. You will be hit with a $150 fee one month after you leave like I did. I had never paid a fee for that account so did not have the appropriate sense of urgency when I retired. No amount of talk was able to void the fee. If you leave your 401k with Empower you will get an annual fee next time it comes up as well.
my checking is 'free'. I keep a lot of my 'pension' direct deposited, and write roughly 8 checks a year.
Cheers!
The day I leave, every penny comes out.
I pulled out everything (other than mortgage which is unaffected by not being a TEAM MEMBER after origination) after I left because I know how this place is run. Zero regrets. My banking is free with another bank because I meet the criteria for fee waiver.
Just don’t be a broke a$$ and everything will be free. Get it together @OP
How many cashier’s checks do you get per decade? And how often do you order checks? If you convert your team member checking to everyday checking, you’ll maintain no monthly service fee if you have a direct deposit go into the account.
You will however start paying 18 for a book of checks, and 10 bucks for a cashiers check. So in my case, I wrote about 4 checks a year, and have gotten one cashiers check in the last decade. So over the course of a decade it costs me 28 bucks by that logic, or 2.80 per year, which is a little over .20 cents a month.
Yeah, banking fees are horrific and you’re about to get ripped off.
Why would you ever bank with WF. . . .