There are some truths that are self-evident:
- Wells Fargo=Archaic, Incompetent, and Unhelpful
Why? First, take a look at the struggle to get the Propel card. That should tell you all you need to know about the bank. That post describes the hoops I had to jump through for a simple credit card with a whopping limit of $2500 and a bland rewards program. To get the $400 sign up bonus customers have to spend $3000 in 3 months. From there the level of rewards depends on how much money you have in your checking account or something to that effect. But that’s not why Wells Fargo is the worst. Here is why:
I spent $2470 of my $2500 limit as quick as I could to reach the minimum spend and avoid their antiquated online banking system which they hype as a free feature for banking customers. I immediately paid my balance two days ago and was ready to top off the rest of my account. However, each transaction no matter how small kept getting declined. Frustrated, I called the bank to ask if there was a fraud alert on my account. They said there wasn’t but added that my available credit was only $30. I told them that the online system showed a payment for the balance so that doesn’t make sense.
“Although we see the payment, we cannot free up your credit until August 21st when the funds are cleared. Alternatively, you could fax (that’s right they said fax) proof from the institution that they released the funds.”
Has anyone ever heard of something so stupid? I paid my bill with my checking account and they want proof that the funds are on their way. Why are they acting like the year is 1985 and that I’m presenting an out-of-state check? This is a national bank not a mom and pop convenient store. Surely they cooperate with other banks on much larger transactions than this.
$530 more and I’m done with them forever.