Loyal Customer treated POORLY!!!!!

Posted Sun August 23, 2009 6:37 pm, by Colleen S. written to Wells Fargo

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I am Wells Fargo customer: Home Mortgage at Wells Fargo, have a personal brokerage account at Wells, two checking accounts, one is PMA. I recently established a self-directed LLC, Pensco Trust is the custodian. The LLC is in California. Last Friday I went into the Wells Fargo Branch in Merced CA, G Street and Yosemite, to establish a checking and savings account for my LLC. My plan was to transfer 150,000 into the checking account. For some reason my credit was run and I was DENIED the opportunity to pen checking account and made the deposit. I provided all necessary paperwork to the banker that I received from the state of California for the LLC and Pensco. I personally am not owner of the LLC, but rather the manager. My IRA will be the owner of the LLC once the money can be transfered into a checking account. I am SHOCKED that I was denied a business checking account...even though earlier in the week I was able to upgrade my checking account to a PMA account and open a brokerage account online. I was also told that they would look into at the bank and call me back within an hour. I didn't hear one word from anyone at the bank. I did apply for a checking account for my LLC on line on Saturday and am waiting to hear....wasn't denied outright on line.

I LOVE Wells Fargo bank...always have. One of my sons even works for one of your competitors but I haven't moved my business to his bank due to my loyalty to Wells Fargo. I didn't feel I was treated very well at the Branch in Merced, CA when I went in to open the account.

I would love to have a checking account opened at Wells Fargo for my LLC.

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Re: Loyal Customer treated POORLY!!!!! by RedheadwGlasses Posted Mon August 24, 2009 @ 1:52 PM Is it possible that it's not legal for an IRA to "own" a checking account? If that's the case, they should be able to tell you that, not leave you wondering what the problem is. Reply