Home Forums Hunting & Shooting Hunter's Campfire F U K Chase Bank

Yeah Wells Fargo was/is notorious for the way they payout funds-owed from their account holders.

I had one client who's Wells Fargo checks always took several weeks to clear. I blamed it on my bank at first until my bank told me it was Wells Fargo floating the funds via some fine print exception in the system. (I believe they were later busted for doing it along with some other unscrupulous practices of theirs ... and fined.)

So anyways, I told my client what they were doing and he offered me the idea of simply taking his checks directly to the tellers and cashing them when he cut them ... usually between the $10k-$20k range occasionally more but because of the float there were times when he had $50k or more floating in the system for weeks rather than being in my operating account. I retired from the construction industry.

We tried that, me cashing the checks written directly to me ... didn't work. Wells Fargo wanted a substantial fee to cash the checks, actually fees on top of fees that totaled almost 5%. My client came down and actually withdrew cash and gave it to me in front of the bank VP then told him he would be moving his account elsewhere ... the VP didn't care, said it was out of his hands and they were having to deal with complaints about it every day.

That branch in my town is now defunct, out of business and gone.

Wells Fargo is a shyster operation imho.