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Rumor had it that Wells Fargo was foul and this confirms it.
How does this make them foul? They are a business and they do what they can to turn a profit for their investors and grow their business. What did you hear rumors somewhere that Wells Fargo was trying to make money off customers? I could have confirmed that for you without the rumors. So is your grocery store.
The OP is in a tough spot with no credit unions available, and even some of the online banks that offer free checking might be hard to deal with if you don't have direct deposit.
I found a wonderful credit union that I would love to bank with. However, they are 25 minutes away and their hours are when I am at work. If my company offered direct deposit at least I could go on off hours and get money out.
*Out of the ATM
My credit union has branches all over the DC area. I moved to NC a few years back and their closest branch is now about 100 miles from where I live - and it is a total non-issue. They are on a system of ATMs that allow free withdrawals and there are several within 5 minutes of both my home and office. I handle most of my banking with them on-line. While I do have direct deposit at work, on those occasions when I am given a paper check, I just fill out a deposit slip and deposit it in my account via mail.
Quote:
Originally Posted by slackjaw
How does this make them foul? They are a business and they do what they can to turn a profit for their investors and grow their business. What did you hear rumors somewhere that Wells Fargo was trying to make money off customers? I could have confirmed that for you without the rumors. So is your grocery store.
Come on Slackjaw...how dare a company try and make a profit. Stop being logical.
I would actually love to go to a credit union, but the only one around here is for teachers.
The question you have to ask yourself is, do you need a physical branch? If not, I highly recommend Alliant Credit Union. You don't need direct deposit, you can scan checks at home and have the money available instantly. They have 80,000 free to use ATMs nationwide.
You can also try Welcome to CU National Finder to see if there are credit unions near you that you don't know about.
I still have a Wells Fargo account and have not received this notice yet. I only keep it because it was my original checking account and there is some emotional attachment.
Correct me if I'm wrong, but according to WF.com, they charge $10 on the regular Custom Management Account per month. This is being waived by either direct deposit or a minimum $25 automatic transfer to your Savings Account per month.
Just wondering because I picked WF as our soon to be primary bank when we move over The Pond. Their int'l wire transfer fee is unbeatable in price ($15 for repetetive non-$ transfers) and since the Checking Account fee is waived so easily, why should I pay any CU $5 or so per month for the same account with much higher int'l wire fees?
Just curious how small your company is, because it seems a bit odd to me that they wouldn't offer direct deposit. The security and convenience of direct deposit are really terrific; the only people I've known who didn't like it were very old people who didn't like any sort of changes - my mother was one.
I'd think most people with a checking account either would have the $1500 or direct deposit.
If that person was unemployed then he would ( likely ) not have direct deposit with that bank, nor would he likely have $ 1,500 in the bank...just saying...
( And I realize it may not apply to all unemployed persons, as some might have some savings accrued prior to their layoff....)
Just curious how small your company is, because it seems a bit odd to me that they wouldn't offer direct deposit. The security and convenience of direct deposit are really terrific; the only people I've known who didn't like it were very old people who didn't like any sort of changes - my mother was one.
Lots and lots of small to medium (2 to 49 employees) still don't use direct deposit. I've audited the books of several places locally. Think liquor stores. Independent restaurants. Small landscaping businesses. Mom 'n Pop small town grocery stores. Even chicken farms
Good lord, it's been around for, what, 40 years? They would save so much money if they *would* switch!
I can't find a percentage of how many companies use it, only how many employees use it - - 75% of working Americans who have Direct Deposit available for their paycheck use it.
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