As soon as you are laid off, send a strong message by closing your Wells accounts and have your families do it to. If 50,000 employees do this, they WILL feel the sting. There are better banks and credit unions to do business with. Other banks in the Wells footprint would be smart to run a free checking account campaign, etc right now. They are in a great position to gain a lot of customers who want out of Wells.
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lol @ their kind soul, or maybe that is because as part of their agreement with the gov’t they were not allowed to profit from the ppp loans...
And they just announced they are donating all 100%, or $400,000,000. Are the laid off workers eligible?
@2aqf: The firm regrets that you are angry with the firm and apparently anyone that works for the firm. The firm thinks you are just angry in general. Pitiful, really. But the firm wishes you well.
Angry and insecure: quite a catch.
“The firm”. LOL
This is not Goldman Sachs douchebag. It’s a criminal enterprise that refers to branches as “stores”.
The convo is regarding pulling money and accounts from the firm, not owning or not owning the stock.
why wait?
and why do you still own wfc in your 401k account for that matter?
the only growth this olace has is to cut.
By holding stock in this sh– company your encouraging it.
I would totally and proudly support pulling my money out of WFC, but I do love my FA and he does a good job for me.
Having said that, I have always kept my cash at Ally or Discover online. Currently 1.10% at Ally vs .01% at Wells Fargo. It adds up over the years. I have absolutely no idea why anyone would ever keep their cash at Wells. That interest rate, though in line with other major banks is insulting. Pay me .01% and then turn around and lend it out at 3%. Uhhh.... no thank you. Just another example of “Wells Fargo: We want to satisfy our customers’ financial needs.”
When friends and families ask if they should bank at Wells Fargo. My answer is always No. I can’t think of one reason why anyone should.
Make sure to pull your 401k, cash balance plan, cash out any RSR or RSUs. That will send a bigger message.
If you have money invested through advisors and the private bank and decide to pull your funds, you may want to consider sending a message to the head of the group explaining why. The reason is if you pull funds away without explanation, then the advisor that was on your account looks like they did a poor job. If they’ve done a great job, it would be helpful to let senior managers know that pulling your funds should not reflect in the advisors ability. It also lets management know you are pulling money because of their dumb decisions.
You guys left your account with wells? I pulled mine years ago when I realized wells was paying me per year in interest what my credit union pays me monthly.
Unless these people all have $250,000+ in personal or business accounts, this won’t make a dent. The bank has $1.3 trillion on deposit, so this would represent .09% run off if all 50,000 had $250,000 which seems pretty unlikely.
Getting multiple big businesses and governments to leave WF would make a big dent.