Complaint Review: Wells Fargo Bank - Phila Pennsylvania

There were at least two situations in your original post that you were wrong on, the sales credit & whether an account should be closed for a lost check. And while your credibility doesn't matter to you, it matters to the people that read these reports. If someone has destroyed their own credibility then their complaints can't be taken seriously. Since you name yourself a previous branch manager, it comes across as a case of sour grapes.

And as far as me not having any idea about this situation, I worked in the Customer Service call center for Wachovia. I saw the policies that Wells Fargo was changing and instituting and decided I didn't want to be employed by Wells. So, yes actually I do know something about the topics under discussion. But that's okay, since you obviously feel that you can't defend your original claims I understand why you're willing to drop this report.

Now you are just being shockingly childish. I'm not one bit worried about my credibility, but I thank you for your concern. Although, it seem, however, you have made a name for yourself. You obviously have no clue as to what your talking about and I'm not about to hold an email debate with you, as you have no clue. I will not stoop any further than what I just did with you.

I do actually feel sorry for you for being so naive. You picked one point out in the original post and are trying to argue about it. However, what you fail to understand is; you have no idea what the procedures are and I will not list every policy and procedure with you on what to do in a stop payment situation, as there are many. Why, in your opinion, would banks still be able to issue stops?

 Don't you think there would still be reasons? There are. I'm sure you also didn't take a look at the links stating many other unethical behavior, which is the real point here. I am finished with you, although, you seem to be the type of person to have the last word in, so go ahead, if it makes you feel better by talking about my credibility, feel free. I'm not playing your game anymore.

P.S. That was a rhetorical question, I'm actually not interested in your opinions. Brains were not given for one to forego their use.

There's two points about the stop payment. The first that your "solution" is NOT what's best for the account holder. Nor is it good for the bank. By allowing the account holder to keep the same account open after the number has been compromised opens the bank up to liability. Unless there's an Affidavit of Liability (or similar form) completed to cover the bank.

Second: you presented the idea has the way the bank was operating, not as an example of what you saw wrong with the bank. Then when called on it, you backed off your statement. You have done the same thing with the account openings. First claiming that sales credit would be given and now saying none given if accounts are closed/opened within a certain time frame. But you're also "adding" more information in an effort to bolster your point. The problem is, by doing this you have destroyed your credibility and argument. 

Striderq still up to no good with his insulting rebuttals.

Yes, you would think all banks and departments have the same policy and it's hard to believe they get credits for closing and opening new accounts, but it happens. If the accounts are within a time frame and they wouldn't get a sale, there is a way around that too. Bankers are having to beg clients, friends and family to open accounts they don't even need in order to get the sale. Employees themselves have so many accounts and before they placed a limit on how many way to save accounts there could be, employees each had 4 going at one time and then more with changing account title. And like I said before, what does a child need with a checking account or a debit card? They put them in a package deal. Im not going to argue with you over the rules of stop payments on lost or stolen checks. Each clients situation is different and I'm sorry you didn't think that was a good example. The complaint is about promoting shady sales practices. Not just one specific way. I didn't mean for it to sound like I was upset about that one practice, but many.

See more examples

http://www.topix.com/forum/com/wb/TDNUJ1F62LG56T3EF http://www.vaughns-1-pagers.com/economics/wells-fargo-sucks.htms

The procedure should be the same. Closing the account and opening a new one. If the bank is encouraging people who have lost a check to just do a stop pay, it's bad customer service. Because only that check number would be stopped. Any ACH transactions done with routing/account number would be processed. If the bank I had my account with suggested only a stop pay for a lost check I would find a different bank. In addition, most stop pays are only for a 6 month period and then you'd have to pay again for another 6 months. It's a hassle to change account numbers and direct deposits, auto debits, etc but the account holder is far safer to do so than to just do a stop pay.

I still have doubts that WF would give sales credit for an account that is opened to replace one that's been compromised. When they first took over Wachovia, they gave sales credit for a replacement debit card when one was lost/stolen. That ended real quick. WF wants more accounts/business. When a person has an account closed and an account opened the bank is not gaining anything. And WF is definitely about business, so I don't believe they'd give sales credit for this situation. 

And I really like the way you stated how things were in your OP and then walked it back after my post. You kind of lose credibility when you do that. "This is the way it is. Well sometimes it's that way but I was just doing an example as a blanket statement." Meaning that you were intentionally slanting the reaction you wanted people to have.

Some of what you say is correct. If the client thought it was a stolen check, then they would/should go through he fraud department and a new account would be opened and no sale credit would be issued. This is the proper thing to do. I was stating just a simple example, for instance, a client just lost a check. He may have thought he misplaced it or something simple. Thats when a stop should be placed on it instead of going through the mess of getting a new acctstow topping auto deducts, etc...

The bankers do indeed get credit for any account opened and they push even when not in the clients best interest. And, any crook could get a check from anywhere, even working at any retail store even. We shouldnt take simple things to an extreme. Another example, they get more credit for opening higher balance checking accounts. So if a client comes in with a check for 5k and the banker knows the balance will drop in a few days or weeks they will still open the higher limit account to get more sales credit knowing the client will be charged fees as soon as the balance drops.

If the client sees the fees for lower balances then the banker will apoligize and simply change the code later, or on the extreme apologize to the client that the wrong acct was open, then close it and reopen yet another account along with all the other supporting widgets. It's a shame really... The list just goes on and on. There isn't enough room to list all the unfair shady practices that are done to unknowing clients. Most banks are the same. I now hold my money in a very small credit union. I feel bad for the customers, but also the employees who really don't want to do these things, but are afraid to loose their jobs.

"You see, the ethical thing for the banker to do would be to just put a stop payment on that check for the client."

The bad guys figured out that stop payments could be placed on the check number they stole. So they started using the routing number & account number to either print checks with other numbers or just use that information to schedule payments from the stolen account. Bank policy (for all banks I know of) for years has been to encourage the customer to close the account and open a new one. Wachovia even sent out a Letter of Indemnification that the customer had to sign that stated if the account info was stolen & the customer refused to close the account that the bank would not be held liable for any loss due to fraudulent activity.

My friend who works for Wells Fargo told me that this scenario would not generate sales credit. They get credit for completely new sales but not for opening an account to protect the customer from loss.

Although you're right that' there's a lot of other stuff that Wells does wrong, this isn't one of them.