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Thread: Wells Fargo To Charge You 3 Bucks To Spend Your Own Money

  1. #11
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    Re: Wells Fargo To Charge You 3 Bucks To Spend Your Own Money

    Quote Originally Posted by Erod View Post
    $3 today, $10 tomorrow, $100 ten years from now. The government will figure out a way to get its hands on this, too.

    Notice how "comfortable" people have gotten with $3 gas. Once you've been to $4, it doesn't seem like that big of a deal to pay $3.

    Such is the subtle psychology of conditioning the human mind.
    I don't know a single person who is "comfortable" with $3 gas. In fact, it's taken quite a toll on many people's financial situations. What can you do when you rely on gas to get to and from your job? Doing something because there are no other options doesn't necessarily mean that you are okay or comfortable with it.

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    Re: Wells Fargo To Charge You 3 Bucks To Spend Your Own Money

    Quote Originally Posted by Dr_Patrick View Post
    I don't know a single person who is "comfortable" with $3 gas. In fact, it's taken quite a toll on many people's financial situations. What can you do when you rely on gas to get to and from your job? Doing something because there are no other options doesn't necessarily mean that you are okay or comfortable with it.
    Heck, $3 gas is why I am looking at buying a Hyundai Accent as my next car due to its gas mileage.

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    Re: Wells Fargo To Charge You 3 Bucks To Spend Your Own Money

    Quote Originally Posted by megaprogman View Post
    Heck, $3 gas is why I am looking at buying a Hyundai Accent as my next car due to its gas mileage.
    I would love to get a car like that. Unfortunately, I live in an area where there is a lot of mountainous terrain the winters here are kind of brutal, so one kind of needs 4wd.

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    Re: Wells Fargo To Charge You 3 Bucks To Spend Your Own Money

    Quote Originally Posted by Dr_Patrick View Post
    I would love to get a car like that. Unfortunately, I live in an area where there is a lot of mountainous terrain the winters here are kind of brutal, so one kind of needs 4wd.
    That reminds me of my trip to Michigan one January. They were in the middle of a milder blizzard, but the straight-a-way from Detroit to Battle Creek was pretty much in white-out conditions. I asked Enterprise to bump me up to the next level so that I could get a car with a little bit of weight, maybe an AWD...they stuck me in a Chevy Aveo and I barely made it the 90 miles to BC. That car was all over the place everytime the wind would blow. I don't know how people in northern states get by with little cars.
    "Hmmm...Can't decide if I want to watch "Four Houses" or give myself an Icy Hot pee hole enema..." - Blake Shelton


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    Re: Wells Fargo To Charge You 3 Bucks To Spend Your Own Money

    Quote Originally Posted by PerfectStorm View Post
    I'm unclear as to why the bank is holding your check. What's that all about?
    Most banks have a policy that for checks over $y they don't make funds available to you to use until x days after you deposit the check. The idea is that that way if the check bounces they have time to reverse it before you went and spent it. But, in practice, they seem to sometimes let it go through immediately and some times not. In my experience when I had a paycheck that was regularly deposited and for a consistent amount, and the check was printed out by a computer, they would hold the first one, but not subsequent ones. But if it was hand written, if the amount varied dramatically, or if they were deposited at irregular intervals, they were more likely to hold it... They must have some kind of program that looks for certain patterns and decides whether it is risky or not to put the cash in your account immediately. That's all speculation though. If you call them up, they'll say "we hold all checks over $x for y days" even though they don't really.

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    Re: Wells Fargo To Charge You 3 Bucks To Spend Your Own Money

    Quote Originally Posted by Dr_Patrick View Post
    I would love to get a car like that. Unfortunately, I live in an area where there is a lot of mountainous terrain the winters here are kind of brutal, so one kind of needs 4wd.
    We are going to check one out this weekend to see how well the kids fit in it. But it will be a nice "to and back from work" car for my wife.

    We will keep the minivan for long trips, but it hit 150k miles last week and I want to take it out of regular rotation.

    But with my wife's monthly income going up 2k next month, I agreed to get her a new car for a change.
    Last edited by tacomancer; 08-17-11 at 05:56 PM.

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    Re: Wells Fargo To Charge You 3 Bucks To Spend Your Own Money

    Quote Originally Posted by tessaesque View Post
    That reminds me of my trip to Michigan one January. They were in the middle of a milder blizzard, but the straight-a-way from Detroit to Battle Creek was pretty much in white-out conditions. I asked Enterprise to bump me up to the next level so that I could get a car with a little bit of weight, maybe an AWD...they stuck me in a Chevy Aveo and I barely made it the 90 miles to BC. That car was all over the place everytime the wind would blow. I don't know how people in northern states get by with little cars.
    We know how to drive in winter weather. You have to unless you're planning on staying home for 5 months.


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    Re: Wells Fargo To Charge You 3 Bucks To Spend Your Own Money

    Quote Originally Posted by megaprogman View Post
    We are going to check one out this weekend to see how well the kids fit in it. But it will be a nice "to and back from work" car for my wife.

    We will keep the minivan for long trips, but it hit 150k miles last week and I want to take it out of regular rotation.
    I had a great commute car -- a '98 Metro. The rust claimed it after 13 years (didn't even hit 100k on it). Replaced that with the minivan because of the kids, so now it's a Blazer and a van. So it goes.


    Quote Originally Posted by Jetboogieman View Post
    This issue has been plowed more times than Paris Hilton.
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    Too bad we have to observe human rights.

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    Re: Wells Fargo To Charge You 3 Bucks To Spend Your Own Money

    Quote Originally Posted by rocket88 View Post
    We know how to drive in winter weather. You have to unless you're planning on staying home for 5 months.
    For a Texan I'm not too shabby on the show and ice. But driving a car that weighs less than most weight lifters bench certainly doesn't help with the wind gusts go over 50mph and you can't see 10 feet in front of you.
    "Hmmm...Can't decide if I want to watch "Four Houses" or give myself an Icy Hot pee hole enema..." - Blake Shelton


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    Re: Wells Fargo To Charge You 3 Bucks To Spend Your Own Money

    Quote Originally Posted by tessaesque View Post
    1. I have a $250 buffer in my checking account at all times.
    2. I also have $1000 in savings which automatically transfers over to cover any unexpected overdrafts.
    My rent is $2,200/month, I live in SF where everything is overpriced... $1,250 of buffer wouldn't cut it for me. I have to keep about $4,000 of buffer to consistently avoid overdrafts. Which I do, but is wasteful.

    Quote Originally Posted by tessaesque View Post
    3. My bank credit card is linked to my account and charges can be billed to the card if the first two protections fail.
    Yeah, I have that too, but they charge me fees up the wang every time that kicks in. Same with the savings account too.

    Do you have Wells Fargo? They're known for being the biggest dicks with fees

    Quote Originally Posted by tessaesque View Post
    4. I track my expenditures in a log and double check the math. I deduct debits immediately, as soon as I've signed over or authorized the expenditure. I go by this log, not the call-in balance, text message balance, or website balance.
    Yeah, that I don't do and probably should... Although in this day and age I don't think you should have to. Computers ought to be able to handle that.

    Quote Originally Posted by tessaesque View Post
    5. I bill-pay through my checking account online. It is auto-deducted from my available balance immediately so no waiting 15-20 days for a check to show up.
    Yeah me too. That helps a lot.

    Quote Originally Posted by tessaesque View Post
    6. My check is direct deposited. When my company didn't offer that option I had an auto-post option added to my account for $5 month, where any check under $5,000 that was deposited into my account was immediately available for my to spend.
    Interesting. I don't think I knew about that auto-post option. When I was working in a salaried position I had direct deposit and the checks were for a predictable amount, so after the first one they always posted immediately. When I was working as an independant contractor it was way more chaotic where I might not have any checks to deposit for a month, then I'd suddenly deposit 3 from different clients, usually with at least one being a hand written personal check, totalling $20k, then another lull... That's when it got really unpredictable for me, when I was independant contracting. Sometimes I'd deposit a $15k personal check and it would be in my account in the morning. Other times a $3k check from a business wouldn't post for 3 weeks...

    Anyways, you're right generally that it is possible to avoid overdrafts. IMO it is more of a pain in the ass than it should be to avoid them though and the fees are disproportionate. At least at Wells Fargo. IMO they're taking advantage of folks with less money for buffer and placing a tax on the disorganized that isn't really justified by their actual costs.
    Last edited by teamosil; 08-17-11 at 06:01 PM.

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