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Thread: Banks !!!!

  1. #16
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    Quote Originally Posted by Jim Becker View Post
    Yes, an acquiring bank needs to honor a contract that is written in a way that it can't be discarded. But what I was referring to was "negotiation"...not likely going to happen successfully for the consumer.
    One of my credit cards with a major bank had an interest rate on the high end. A call to them about all the offers arriving in the mail offering a better rate for transferred accounts got them to lower my rate. The lower rate was only good for six months. So every six months another call to them got me back to the lower rate. After about two years of this the representative said the rate could not be lowered again. The next day my account was changed to a bank offering a low rate. This bank has not tried to raise my rate. We currently still have that credit card and the balance owed is at zero.

    Though there always seems to be a problem with banks. The bank for our credit card transposed the oe to eo in our last name on my wife's card. We never noticed this. One day a very sharp eyed cashier did. We have "please ask for ID" written on the back of our cards. This is one of the few cashiers that actually payed attention to what is written on the back of the card. It took over a year and about five attempts to get this corrected. The crazy part was on the day it finally took place was when a new computer system was being purchased. While sitting on a bench outside of the store as they were putting my purchase together, my wife called and told me the bank decided the way to correct the problem was to close the account and transfer the balance to a new account. She was on another line with the bank and told them of my charge at the computer store. Everything was in order so we closed the account and were going to receive our new cards in a few days. After hanging up, the sales person came out of the store to tell me they made a mistake on the invoice and would need to run it through again. After telling them of my credit card woes and that if they wanted to make the sale they would have to make the original invoice work. It was amazing how quickly my new system came out of the store on a hand truck and was loaded into my car within about twenty minutes.

    jtk
    Last edited by Jim Koepke; 06-20-2019 at 1:22 PM. Reason: Added detail and changed some wording
    "A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty."
    - Sir Winston Churchill (1874-1965)

  2. #17
    I remember the way Wells Fargo treated their employees who wouldn't cheat and open fake accounts - they fired them for missing their goals. I still think of the employee who had to go home and tell his wife or husband, "Honey, they fired me because I wouldn't open those fake accounts. What are we going to do now?"

    And when it was all over, the executive who ordered those "goals" retired with a big bonus.

    Mike
    Go into the world and do well. But more importantly, go into the world and do good.

  3. #18
    I've been with the same bank since the 1970's, about a year ago I got an email from them apologizing that they had overlooked giving me the senior's discount on our monthly account fee and advising that starting next month I would be charged to reduced fee and advising that they had deposited a year's worth of the discount to my account.

  4. #19
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    Quote Originally Posted by Scott Donley View Post
    Yes WF also tried to start charging me for Quicken, called them up and they agreed to not charging. I won ! It was all funny because when they first started online banking you could use Microsoft Money or Quicken, They even gave you a copy of Money if you wanted it. At the time I had already been a many year user of Quicken having used it to print all my checks ( dot matrix ). I am glad I did as MS Money is no more.
    Yea, I tried to get them to waive the fee, but despite the number of accounts including the nice HELOC, they pretty much told me to pound sand. Within a few days, we were banking at TD Bank, which to date now has about 8 accounts across all family members plus my business plus my business VISA. Meanwhile, WF is earning about 4% on the HELOC at current rates.
    --

    The most expensive tool is the one you buy "cheaply" and often...

  5. #20
    Quote Originally Posted by Scott Donley View Post
    By the way, the bank is Wells Fargo. I will say this is the first problem I have had and I have been with them since 1983.
    I'm reminded of the famous cartoon, depicting two executives from WF, 100 feet tall, striding down the street with hundreds of normal-sized people running screaming from their strides. One exec says to the other, "Careful, you don't want to get any on your shoes."

  6. #21
    Join Date
    Aug 2010
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    USA
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    Quote Originally Posted by Scott Donley View Post
    Money is back!
    I will say my original bank (First interstate) was bought out by WF and that is how I ended up with them in the first place. I do most of my banking, savings, IRA, CD's at USAA. The nice thing about WF is they are local (3 blocks) charge me no fees, and allow bill pay using Quicken.
    Cool.

    So Wells Fargo made it right, and in a timely manner. Sounds fair to me. I've had checking, savings, credit cards, mortgages with them for over 30 years without anything negative to report. In fact they have actively prevented fraudulent transactions against my account several times, so count me as a Happy Wells Fargo customer.

  7. #22
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    Quote Originally Posted by Jim Koepke View Post
    One of my credit cards with a major bank had an interest rate on the high end. A call to them about all the offers arriving in the mail offering a better rate for transferred accounts got them to lower my rate. The lower rate was only good for six months. So every six months another call to them got me back to the lower rate. After about two years of this the representative said the rate could not be lowered again. The next day my account was changed to a bank offering a low rate. This bank has not tried to raise my rate. We currently still have that credit card and the balance owed is at zero.

    Though there always seems to be a problem with banks. The bank for our credit card transposed the oe to eo in our last name on my wife's card. We never noticed this. One day a very sharp eyed cashier did. We have "please ask for ID" written on the back of our cards. This is one of the few cashiers that actually payed attention to what is written on the back of the card. It took over a year and about five attempts to get this corrected. The crazy part was on the day it finally took place was when a new computer system was being purchased. While sitting on a bench outside of the store as they were putting my purchase together, my wife called and told me the bank decided the way to correct the problem was to close the account and transfer the balance to a new account. She was on another line with the bank and told them of my charge at the computer store. Everything was in order so we closed the account and were going to receive our new cards in a few days. After hanging up, the sales person came out of the store to tell me they made a mistake on the invoice and would need to run it through again. After telling them of my credit card woes and that if they wanted to make the sale they would have to make the original invoice work. It was amazing how quickly my new system came out of the store on a hand truck and was loaded into my car within about twenty minutes.

    jtk
    Yesterday brought an update to this card. We haven't used it in a couple of years. Recently we decided to rebuild the two decks that serve as our porches. This card was used to charge materials. My wife was paying the bills. She didn't recall the password for this account and asked me to login and change the password to something that would work better for her system of making up passwords. The site wouldn't let me login with the old password. The forgotten password system didn't work. It wanted my name, SS# and date of birth to get started. Working with the online chat service it turns out they had my date of birth wrong. After a couple of phone calls to customer service while staying online with the chat service we finally changed their record instead of me having to adopt a new date of birth. All this just to make a payment.

    If you are in a slow moving line at Home Depot, it may be because they have recently been asking customers to sign up for their credit card. On my purchase of building materials they knocked ~$100 off the purchase and it didn't even require me to use their card.

    A few days later when my grandson was with me to buy a new cordless drill, so we could both be driving screws on the new deck, the cashier said she could give me $50 off by me applying for a HD credit card. After telling her of my earlier discount for signing up, she said that didn't matter that many people have multiple HD credit cards. So signing up for another one gave me the drill at half price.

    Of course the cashiers get a bit of a spiff for signing up customers. The interest rate for someone with a good credit score is 21.99%. This one will be paid off at the customer service counter next time there is a need to go into the HD store.

    jtk
    "A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty."
    - Sir Winston Churchill (1874-1965)

  8. #23
    Quote Originally Posted by Jim Koepke View Post
    If you are in a slow moving line at Home Depot, it may be because they have recently been asking customers to sign up for their credit card. On my purchase of building materials they knocked ~$100 off the purchase and it didn't even require me to use their card.
    "Recently"? I can't remember the last time I didn't get asked to sign up!

    Lowes does exactly the same thing. Sometimes I think Lowes & HD are just the same company with different names...
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  9. #24
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    This one will be paid off at the customer service counter next time there is a need to go into the HD store.
    A couple days ago while purchasing a few items at the HD, the cashier told me the card could be paid off at check out. Now my balance at HD is zero.

    jtk
    "A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty."
    - Sir Winston Churchill (1874-1965)

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