Author Topic: Wells Fargo usage charges - should I switch?  (Read 2119 times)

Cole

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Wells Fargo usage charges - should I switch?
« on: May 09, 2015, 09:16:08 AM »
Recently my girlfriend has been hit with fees for not using her debit card tied to her checking account at Wells Fargo. It is a $5 dollar fee if she does not use it 15 times in one month. She also has a college credit card through Wells Fargo as well (Pays it off monthly). She likes to keep the credit card because it is currently the only way she is improving her credit score (besides college loans).

We have been thinking about switching her to Firstbank (where I bank) because it has no fees, but if we do this she might not be able to keep the credit card (seems like a packaged deal there). Any input would be highly valued!

Thanks!

seattlecyclone

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Re: Wells Fargo usage charges - should I switch?
« Reply #1 on: May 09, 2015, 11:47:44 AM »
Paying fees for a checking account is just silly when plenty of free options exist. Take your money elsewhere.

thingamabobs

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Re: Wells Fargo usage charges - should I switch?
« Reply #2 on: May 09, 2015, 12:46:03 PM »
If she is using her CC then they are making money, so she can keep the card. I would look into if there are any special plans at WF for say linking a cc to her account to avoid the maintenance fee. Banks will often offer these but not tell you about it.

Pylortes

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Re: Wells Fargo usage charges - should I switch?
« Reply #3 on: May 09, 2015, 01:25:52 PM »
I would switch.  In my experience the big national banks look at your business as a way to extract as much revenue as possible.   There are many more smaller banks and credit unions who will treat you respectfully as a customer without hitting you with loads of gotcha fees or trying to sell you 8 additional products (like Wells Fargo does).  I don't understand why people stay with these big banks that are constantly looking for new ways to extract fees out of you.

Calvawt

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Re: Wells Fargo usage charges - should I switch?
« Reply #4 on: May 09, 2015, 01:40:46 PM »
I have never seen someone losing a credit card account because of moving their checking account.  The credit card is almost assuredly a stand alone account that you can keep.  I say move it.  She could get a new card if she has too.

Cole

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Re: Wells Fargo usage charges - should I switch?
« Reply #5 on: May 09, 2015, 11:54:36 PM »
Thank you for the feedback! We moved her account today, no fees for 5 years!

-- The credit card turned out to be a non-issue
« Last Edit: May 09, 2015, 11:58:50 PM by Cole »