Amid record profits, Wells Fargo to "test" debit card fee.

Wells Fargo posts $3.9 billion in profits for 2nd quarter of 2011, then "tests" it's customers to see if they'll bend over a bit farther.

All's Well With Wells Fargo: Profits Up 29% To $3.9B

The bank reported net income of $3.9 billion on $20.4 billion in revenue during the April-June period,
and CEO John Stumpf said the increase from the prior year and quarter touted increased “loans and deposits, lower operating costs, improved credit quality and higher capital levels.

While touting record profits, CEO John Stumpf shows his soft side and empathizes with his customers, saying:

While the economic recovery continues to be slower than expected, there are signs that businesses are investing for growth, and we’re here to help them.
We’re enjoying strong loyalty and market share growth as we continue to focus on helping our customers emerge from the economic downturn.

forbes.com

This is an odd way to help your customers emerge from the economic downturn, John.

Wells Fargo to test monthly fee for debit card

Wells Fargo plans to test a $3 monthly fee for its debit cards starting this fall.

The San Francisco-based bank said the fee will be applied to checking accounts opened in five states starting in October.

The fee would be in addition to monthly service fees ranging from $5 to $30 that Wells Fargo already charges.

mercurynews.com

If I were a customer of Wells Fargo, I'd be fuming that they would "test" this.
It's like a freakin' child testing his parents.

I can't wait for all banks to do this. It will fail miserably, and the Credit Unions will have a lot more customers.

You're missing out if you use regular banks.

reply to post by Oaktree


I love it!!!
I have been whining about people using debit cards for years now.
That extra time i have to spend in line because they won't use cash and can't have their card ready without digging it out at the cash and can't push a few buttons correctly without having to start over and taking more of my time....I am glad they have to pay now to make me wait.
Looks good on them.

I hope people will just start using cash as an alternative.
While this might be bad news for some...its great news to me.

I went in to a Wells Fargo once to cash a check issued by them. They wanted me to open an account or be charged 5 dollars. The business from which the check came has a deal with Wells Fargo that they will not charge a cashing fee. I had to talk to 3 different people, each of which practically begged me to open an account or be charged a cashing fee...

I eventually got out of there without a new bank account and a cashed check...but, man, those guys are persistent. I would never bank there.

They're addicted to greed. They can't stop by themselves and if nobody stops
them they sure as hell aren't going to stop themselves. When will they have
enough? When they've taken everything you and I have.

Originally posted by DrumsRfun
reply to post by Oaktree

 

I love it!!!
I have been whining about people using debit cards for years now.
That extra time i have to spend in line because they won't use cash and can't have their card ready without digging it out at the cash and can't push a few buttons correctly without having to start over and taking more of my time....I am glad they have to pay now to make me wait.
Looks good on them.

I hope people will just start using cash as an alternative.
While this might be bad news for some...its great news to me.

Plastic gives people a sense of security as well as convenience.

And we already know the lengths people will go for security and convenience.

Don't get your hopes up.

Banking is dirt cheap in Europe.

Except rip off Britain.

reply to post by DrumsRfun


In August of 2007, I gave myself a birthday gift of a debt-free life by closing all credit cards and bank accounts.
I opened a savings account at a community bank, and leave just above the minimum amount required to keep it open.

I am cash only (and cashiers check when needed) and I have never felt freer or richer!

reply to post by BeyondPerception


A boy can dream.
I know its wishful thinking but dammit I hate those damn cards.

Originally posted by Oaktree
reply to post by DrumsRfun

 

In August of 2007, I gave myself a birthday gift of a debt-free life by closing all credit cards and bank accounts.
I opened a savings account at a community bank, and leave just above the minimum amount required to keep it open.

I am cash only (and cashiers check when needed) and I have never felt freer or richer!

Buying online must be a breeze for you.

reply to post by Oaktree


I also have no debts and only use cash.
The bank today told me when i was taking my money out that I am such a great customer and have options available.
I said "no debts,no credit cards and no overdrafts...I don't need financing or the debt you guys want me to have...thanks but no thanks".
I don't write cheques,don't use credit and don't use debit and don't need financing.
Screw the banks!!!

Nice to see someone else live debt free!!

reply to post by BeyondPerception


Who NEEDS to buy online?
Never have and never will.

Originally posted by DrumsRfun
reply to post by Oaktree

 

I love it!!!
I have been whining about people using debit cards for years now.
That extra time i have to spend in line because they won't use cash and can't have their card ready without digging it out at the cash and can't push a few buttons correctly without having to start over and taking more of my time....I am glad they have to pay now to make me wait.
Looks good on them.

I hope people will just start using cash as an alternative.
While this might be bad news for some...its great news to me.

*snip*

Pay with cash: get wallet, search for the correct dollar amount, hand to cashier, cashier counts money, cashier enters dollar amount in register, cashier pulls out change and hands the money to customer.

Pay with debit: Get wallet, pull out card, swipe, enter 4 digits, cashier hands customer receipt.

Paying with cash is nearly as bad as writing a damn check lol, plastic is MUCH quicker.

Originally posted by DrumsRfun
reply to post by BeyondPerception

 

Who NEEDS to buy online?
Never have and never will.

Who NEEDS to spend more money than they have to ^^^^^^that guy. Buying products online not only saves money it means you don't have to drive around to different stores or put wear and tear on your car.

reply to post by Fitch303


Don't drive either!
LOL nice try though.

Credit cards are not my thing and neither is debit or cheques or cars.
You make your choices and I make mine.

How much are you in debt?

Don't get me started on Wells Fargo

I'll just leave it at that.

Have a nice day!

Originally posted by DrumsRfun
Who NEEDS to buy online?
Never have and never will.

Never claimed it to be a necessity, it's just more logical under certain circumstances.

Bought a 55" tv last month. Major retailers wanted $1800 plus tax and a delivery cost.

If I had cash, I'd be spending about $1950.

Through Amazon, I paid $1300 with zero tax and got it delivered into my living room at no cost.

And I'm not saying it's impossible to buy online without plastic, it's just a pain in the ass.

Originally posted by DrumsRfun
reply to post by Fitch303

 

Don't drive either!
LOL nice try though.

Credit cards are not my thing and neither is debit or cheques or cars.
You make your choices and I make mine.

How much are you in debt?

edit on 17-8-2011 by DrumsRfun because: (no reason given)

How do you pay bills?

reply to post by BeyondPerception


No warranty though.
I'll buy at the stores with cash and know what I am getting and what services i get with my warranty.

reply to post by CastleMadeOfSand


Cash!!!
How do you pay bills??