When Wells Fargo took over Wachovia, I had a number of five year Wachovia CD's at 5.35 APY. I bought them not too long before the takeover, when Wachovia was offering above market interest rates on CD's to survive. A couple of years ago, I started getting letters from Wells Fargo offering to cash them in with no penalty. Of course, the market interest rates on new 5 year CD's were 2 percent or less by then. The letters went to the recycling bin. Sadly, the last of those CD's matured a few months ago. I was careful to redeem them before they could renew them at their paltry rates.
As banks go, Wells Fargo is shrewdly managed. Can't blame them for trying. However, they haven't bugged me about refinancing my 30 year 3.125 percent mortgage yet.