I opened an account with Wachovia few years ago. Wachovia
is now Wells Fargo so I am a customer of Wells Fargo.
Earlier in 2011, I walked into a Wells Fargo branch. As I
was talking to a representative there, he was offering me some services. During
our conversation, I mentioned that I am interested in opening a PMA account
within a couple months. It was my understanding that PMA package came with a $30
monthly service fees if eligible balance is less than $25,000. At that time I needed
a couple of months to have $25,000 and I did not want to pay $30 monthly
service fees. I told banker that because of this reason I am going to open PMA
account after a couple of months.
To my surprise banker told me that my understanding was
not correct. You don’t need to maintain a balance of $25,000 for first three
months in order to avoid $30 monthly service fees. He told me that I can open
the account now and I won’t be charged $30 monthly service fees for first three
months. I was pleasantly surprised and I asked him to open the account.
In the process of opening PMA account, he asked me to
open a Debit Card. I said don’t need Debit Card. He told me that I need to open
PIN for security reasons and in order to have a PIN I need to have a Debit
Card. So I said okay.
So he went ahead and opened accounts. After he was done
opening accounts through his system, he gave me papers to sign to confirm
account opening process. To my surprise he opened two accounts: PMA account and
High Yield Savings account. I told him
that I did not ask you to open a High Yield Savings account. Why did you open
that account? He mentioned that because it pays higher interest with the
balance of $25,000 or more and since I am going to come up with $25,000, I should
have High Yield Savings. At this point I was tired of sitting with him for long
time and I did not want to argue with him and wanted to leave bank as soon as
possible, so I did not say much. So I agreed to open High Yield Savings account
and I left bank.
A couple of weeks after this, I received Debit card in
the mail. There were 4 Debit cards! I had two checking accounts and I am joint
owner on these accounts with my spouse. He opened a card per checking account per
account owner and that is how we got four Debit cards in the mail. That made me
angry. I did some research and I came to know that customer does not need to
have PIN for security reasons, but banker told me so. #1. I also found out that PIN that I
opened at bank was different than PIN that we have for our Debit cards. #2. I got
4 Debit cards when I asked for one. #3.
I called customer service # and expressed my frustration.
Phone representative told me that she wrote my incident down and I should go
talk to bank manager about this. So I went to bank to meet manager to talk
about this. As I am sitting with manager and explaining everything that I experienced,
she told me that PMA account does not have three months grace period. The reason
I am not going to be charged $30 monthly service fees is because banker that
helped me was second to the bank manager (herself) in authority and he made a
note on my account mentioning that my accounts needs to be checked every month
for first three months and $30 monthly service fees should be removed if it was
charged for having balance of less than $25,000. I was not given this
information before. #4.
When I was talking to bank manager about PIN and Debit
card experience I had, she told me that it is good to have one Debit Card per
each account per each owner. She told me that she takes care of her mother and
put the money into separate checking account and gives a Debit card to her
mother so that she can manage her mother’s finances. She mentioned that banker
might have thought about it and issued four Debit cards for my benefit! #5. I told
her that I did not come to her or banker for getting personal finance advice
and I would appreciate if I should not given products that I don’t ask for. This
conversation with bank manager was very disappointing as I felt that I was not
being heard and I just wasted time by going to bank manager. I asked her to
close all Debits cards and High Saving account. And I asked her to put a note
on my profile clearly stating that I should not receive any product that I did
not ask for. This was my last visit to this particular branch and I decided not
to go to this branch again.
Fast forward to today (mid 2012). We got 4 Debit Cards in
the mail. One per each checking account per each account owner! This time I did
not get angry, but I smiled as I know it was Debit Card and Wells Fargo! I
called phone representative to ask about these cards. I asked him to verify why
did I get these cards and who opened them. He said he is not able to find any
trace. He also mentioned that only a representative from a physical bank can opened
Debit cards. I did not care much and I asked him to close all my Debits cards.
He closed mine and said my spouse needs to call them back in order to close her
cards. A week after that I went to bank as I had to deposit a check. (I always go
to bank to deposit checks and don’t do it via ATM because I think that it gives
teller to do something and may be few tellers would loose their job if more
people start doing the same.) While depositing my check, I asked teller about
Debit cards that I got recently. He was not able to answer my question so he
grabbed someone quickly. Other representative told me that I should have Debit
card for security reason and I told him that I had unpleasant experience with Wells
Fargo regarding Debit card in the past and I don’t want to have Debit card for
now. The representative asked me if I went to other branch. I told him that
this is the only branch that I go to for last year or so. He told me that for
sure no one from his branch opened Debit cards and it must be phone banker. #6. I asked
him to make a note on my profile saying I should not be given any product if I did
not ask for. He said he can make a note, but there is no guarantee that a
banker would read it before sending me Debit cards again in future. I smiled
and said okay make the note anyway!