Hello Sophisticated Spenders!
Here’s the (almost) conclusion of Part 1 of the Wells Fargo Fiasco (Click here to read part 1).
Long story short.
I received a $500 check from Wells Fargo that reminded me why I’m not their biggest fan.
The wording of the accompanying letter said, “Looks like you overpaid!”
Who would overpay for ANYTHING?
Every fee that I paid was paid because I was TOLD to pay it.
This refund represents what’s wrong with how they do business and I am happy that over 5 years later they’re trying to clean up their name (and ugly reputation).
They’ve been in the news a lot lately for fraud and this refund is likely the result of that.
The first time they denied my refinance application for a property on the south side of Chicago, I thought the issue was with me. And I worked hard to fix any and all potential issues on my record.
When they denied my refinance application for said property for a SECOND time, that’s why I realized I can no longer do business with a company who wouldn’t invest in ME.
I grew up in that home and they sent a loud and clear message.
Have I closed my Wells Fargo accounts since this incident?
When I’m in my comfort zone, it’s damn near impossible for me to step out. Like my dad used to say, “I’m in a rut.”
All of my bills are on autopay and I’ve been afraid of disrupting my system.
However, when their latest fraud issues resurfaced earlier this year, I actually took a few steps to move a few of my accounts elsewhere.
Right now I’d say 60% of my accounts have been moved. And thanks to this letter I’m giving myself a due date of December 31, 2016 to get everything moved and my account closed for good.
And now that I’ve written this blog post, you guys will hold me accountable on that promise.
Oh, and after I posted part 1 of this story, someone (who was clearly an auto-responder in another country) sent me a tweet that was confusing.
I replied to their tweet saying, “It’s all in this post.” And I haven’t heard anything back.
I am not surprised.
Matter of fact, my goal is to make sure ALL of my auto payments are directed elsewhere TODAY!
I’d LOVE to hear from you and if you’ve had any crazy bank issues!