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So I went into Wells Fargo yesterday to cancel my checking and savings account. When asked a reason I cited the story in the news and how I am not interested in doing business with a company like this. You should have heard the speech I had to endure. They begged and pleaded and brought out graphs and charts. In the end I said, there is NOTHING you can do. Please close them. Then the closer (manager) came in and tried again! And they wonder why people hate them.
Good Riddance Wells Fargo.
Ha nice. You should asked for the chart that shows the executive bonus money that would be "clawed" back as part of the scandal.
I don't understand how they could make all these accounts that have all these extra fees and most of the customers paying these fees never figured out they were paying extra!!??
I don't understand how they could make all these accounts that have all these extra fees and most of the customers paying these fees never figured out they were paying extra!!??
I don get that either. Perhaps the employees chose customers with substantial balances and accounts. People they felt were less likely to notice another acct or added fees.
I don't understand how they could make all these accounts that have all these extra fees and most of the customers paying these fees never figured out they were paying extra!!??
The people doing it were call-center types making $12/hour or less and figured they wouldn't be there more than a few years anyway and would make quotas.
Yeah, when this impacts wells fargo divisional revenues by a roughly estimated 0.04% (not 4%, 1/100th of that) and was certainly going to be discovered it kinda tells you it was some cunning plan masterminded by senior management lol....because it was never going to go undiscovered and it had ZERO impact on their financials.
I don get that either. Perhaps the employees chose customers with substantial balances and accounts. People they felt were less likely to notice another acct or added fees.
It was 5300 employees so whomever they chose were selected by whatever criteria each of them decided. Some may have used thought, some may have just tagged whomever crossed their path.
So I went into Wells Fargo yesterday to cancel my checking and savings account. When asked a reason I cited the story in the news and how I am not interested in doing business with a company like this. You should have heard the speech I had to endure. They begged and pleaded and brought out graphs and charts. In the end I said, there is NOTHING you can do. Please close them. Then the closer (manager) came in and tried again! And they wonder why people hate them.
Good Riddance Wells Fargo.
Good for you.
My mom worked for Bank of America as a low level employee for 15 years......they tried to screw her over when they first bought out the previous bank she worked during her 401k roll-over.
Yep, that's what they do their their OWN EMPLOYEES.
For those curious, they sent a sales rep in there to talk them into moving their 401ks into a fund with an 8% up front load...under the guise of helping them convert their 401ks to the new system. She called me up confused and asking my advice....I don't swear in front of her and that took a lot of effort not to.
I don get that either. Perhaps the employees chose customers with substantial balances and accounts. People they felt were less likely to notice another acct or added fees.
People with substantial balances don't generally pay any fees. So they would probably be the first to notice.
This has been happening in Britain for the last number of years.Same idea,sell people things they do not need,do not want,and,do not tell them you have sold them these products.Priceless.All to meet"targets".Guess who will eventually pay for all the fines,compensation,and re-embursment of monies.Yes you got it.And of course no one has so far gone to jail. Years before PPI scandal is over, says Financial Ombudsman - BBC News
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