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 Wells Fargo Failed to Open My Account
Posted Wed April 23, 2008 12:00 pm, by Juan F. written to Wells Fargo
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Have been looking for a company for some time to establish a small business checking account. After some exhaustive online research, I decided to give Wells Fargo a try, based on the fact that they promote that a business account could be opened online provided you had an established EIN, and Dun's number.
I went through the application, completing all sections as requested, and then submitted my request to fund the account with the maximum amount - $300.
A day later, I got an email, indicating that my account would not be opened.
I asked why, and recieved a response from someone in the small business unit (2 days later) indicating that my account could not be opened because Wells Fargo doesn't have any branches in my state.
I am disappointed. I tried to open this account based on the online convenience of the process.
I would like Wells Fargo to accept my application, and open my account.
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by KenPC Posted Fri April 25, 2008 @ 11:14 AM
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Just to undersore what some of the others have said: WF probably did
you a favor. They are not real friendly to small businesses. You will
be a great deal happier if you go to a local institution. More
specifically, a credit union. And very specifically, in your area I
reccommend Sharon Credit Union.
The big difference is that they really WANT your business, and will go
to great lengths to keep you happy.
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by Just Brenda Posted Wed April 23, 2008 @ 9:55 PM
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Juan:
I agree, if they don't offer accounts in a certain state or area they
definitely should alert you before you submit the whole application.
I suggest opening your accounts at a small local bank or credit union
that will appreciate your business and give you the customer service
that you deserve. Many of them have the same conveniences as the
larger banks nowadays and they give better interest rates and perks!
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by Donno Posted Wed April 23, 2008 @ 7:35 PM
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If their policy is to not issue an account if you do not have access
to a branch, that is their policy. Why should they go against it for
you?
Looking at the Wells Fargo site, it looks like many states on the East
coast do not have branches. You should choose a bank that does. You
usually can't do everything online when it comes to a checking
account, which probably accounts for WF's policy.
I use ING Direct for savings and CD's.
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