Homebrewers Association | AHA Forum

Other than Brewing => The Pub => Topic started by: oscarvan on March 25, 2011, 06:58:21 PM

Title: Attention Wachovia home bankers....
Post by: oscarvan on March 25, 2011, 06:58:21 PM
Wachovia is merging with Wells Fargo, and many if not all accounts are migrating over the middle of April. I have been getting messages about how to move my banking over to their web site, so far so good.

Buried deep in the fine print is the following statement:

Wells Fargo does things differently then Wachovia. Money scheduled for on line payment may be taken out of your account as many as five business days prior to the payment date.

I get paid on the 16th, and thus have a pile of payments scheduled for the 17th of every month.....if I hadn't noticed the crap would have hit the fan BIG TIME around the 11th, when I least need it.....

The good news is, many of my payees have agreed to move the due dates to the 24th/25th, so to a great extent I am able to pass the buck, so to speak....

I can only imagine how many people are going to fcuk this up and how many millions WF is going to make in late fees.....bastards.
Title: Re: Attention Wachovia home bankers....
Post by: Slowbrew on March 25, 2011, 07:12:10 PM
I've been using Wells Fargo online banking for many years now.  The policy about the 5 day thing is based on the policies (or lack of known policies, actually) of the payment recipient.  If they are able to be paid electronically then the money comes out the date you've scheduled it to.  The payment tool tries to give an idea of payment performance when you select the date to pay on. by estimating how long the transit time could be

I've never had funds withdrawn any day other than the one I scheduled.  YMMV as I am rarely considered "the normal case".   ;)

Paul
Title: Re: Attention Wachovia home bankers....
Post by: euge on March 25, 2011, 07:15:06 PM
I don't let anyone draw anything out of my account unless it's by hand-written check. I'm chary of the cascade of fees that might happen if funds were withdrawn early.

I believe the banks know that by giving us this "convenience" that they'll rake in a certain percentage in overdraft fees.
Title: Re: Attention Wachovia home bankers....
Post by: corkybstewart on March 25, 2011, 07:19:04 PM
I don't let anyone draw anything out of my account unless it's by hand-written check. I'm chary of the cascade of fees that might happen if funds were withdrawn early.

I believe the banks know that by giving us this "convenience" that they'll rake in a certain percentage in overdraft fees.
It's actually saved me lots of late fees-I used to travel constantly for work so bills would get unpaid until I got home.  Automatic payments have saved me lots of money.
Title: Re: Attention Wachovia home bankers....
Post by: oscarvan on March 25, 2011, 07:48:46 PM
I don't let anyone draw anything out of my account unless it's by hand-written check. I'm chary of the cascade of fees that might happen if funds were withdrawn early.

I believe the banks know that by giving us this "convenience" that they'll rake in a certain percentage in overdraft fees.
It's actually saved me lots of late fees-I used to travel constantly for work so bills would get unpaid until I got home.  Automatic payments have saved me lots of money.

That, and markedly improved my credit rating.
Title: Re: Attention Wachovia home bankers....
Post by: weazletoe on March 25, 2011, 11:03:35 PM
It's times like these I'm glad I'm flat a$$ broke!!  ;D
Title: Re: Attention Wachovia home bankers....
Post by: loopy on March 26, 2011, 06:30:22 PM
sounds like the best reason in the world not to have a checking account at the same bank you have your mortgage at. 

Other than that, honestly guys, how anyone can do business with the big 5 at this point is beyond me.  They are absolutely proven and openly admitted criminals in nearly every respect.  From fraud to drug money to outright criminal securities violations and open perjury.  Boa, Chase, JPM, WF, Citi.  If you continue to let them hold your money, you deserve everything they do to you.  And they will do it every chance they get. 

Why anyone "trusts" these guys is beyond me. 
Title: Re: Attention Wachovia home bankers....
Post by: tubercle on March 26, 2011, 06:51:14 PM
Been banking with a credit union for over 30 years. No problems, no fees, great rates.
Title: Re: Attention Wachovia home bankers....
Post by: punatic on March 26, 2011, 07:34:52 PM
I've been making electronic payments/deposits/transfers since 1996 with no problems.  I've gotten to the point of grumbling about the inconveniece when I have to cut a check.  My experience has been that the funds are moved on the date scheduled, or later.
Title: Re: Attention Wachovia home bankers....
Post by: beveragebob on March 26, 2011, 09:06:38 PM
I've decided to "move my money" I'm dropping BofA and switching over to my credit union. If we all "moved our money" maybe we can bankrupt those greedy worthless institutions. I'm sure their guvment will bail them out again.
Title: Re: Attention Wachovia home bankers....
Post by: corkybstewart on March 26, 2011, 09:52:02 PM
If my credit union had an ATM card that worked overseas I'd move my money also, but it doesn't so I'm sticking with WF for now.
Title: Re: Attention Wachovia home bankers....
Post by: maxieboy on March 26, 2011, 10:40:04 PM
Credit union for last 23 yrs. The big banks can go pound sand.
Title: Re: Attention Wachovia home bankers....
Post by: Hokerer on March 26, 2011, 11:17:31 PM
Credit union for last 23 yrs. The big banks can go pound sand.
+1, credit union for over 28 years here
Title: Re: Attention Wachovia home bankers....
Post by: dbeechum on March 29, 2011, 11:57:48 PM
Amen to the credit unions.

I think the only time I've dealt with any of the banks when I had a choice (aka not my mortgage) is when I had a small checking account in college with the local bank. The rest of my life it's been credit unions - when I got my first job as a wee lad (ok, 13, but hey) all the way through to today.
Title: Re: Attention Wachovia home bankers....
Post by: beveragebob on March 30, 2011, 06:04:21 AM
Speaking of mortgages, I just found out the translation a few weeks ago:

Death Pledge!
Title: Re: Attention Wachovia home bankers....
Post by: phillamb168 on March 30, 2011, 07:49:07 AM
I'm banking with La Poste (the "national" bank here) as well as HSBC. HSBC is freaking AWESOME. My business account in the US is with Citibank, and I will be switching over to HSBC as soon as I get the incorporation here in France. When I was a kid I banked with the local bank, and they were always great. College meant a big city and therefore big banks, and I've always hated them.

At least in France a lot of the predatory practices of US-based banks are illegal. Also banks don't issue credit cards, I think that's a rule for the entire EU. Much much less problems with debt here, at least for the average guy. Not including mortgage debt of course.