Thread regarding Wells Fargo & Co. layoffs

Wells Fargo should have Late Pay Day, where your check isn't credited until 4 days later.

Put the TV advertising money into the credit card business. That is where the only profits may be now.

their not there typo

There is literally no benefit at all to getting one's paycheck deposited 2 days early. Unless it is a low paid worker, living paycheck to paycheck waiting to pay there maybe overdue bills. In which case they surely could not afford to cut out of their work week 2 days early just because their pay was already deposited early. SUCH a VERY VERY STUPID commercial. It does not make sense at all.

Saw that Wells Fargo commercial on TV today. Really STUPID main theme, cutting out of work early just because your paycheck is deposited two days early. As a former Wells Fargo employee, made to work many weekends and late nights, this concept of cutting out of work early would have likely gotten me fired. They need to cut that TV commercial from ever running again. Bad karma. Bad advice, cut out of work early just because they have their next paycheck deposited 2 days earlier. Id--tic.

You just fall into the same two week cycle for pay just two days earlier. Makes no difference after the first pay cycle

OP here. Thanks for the replies, guys. I merely meant to comment on the commercial, which I thought was obnoxious, even if only implying in a jokey manner that this “service”, “product”, “feature” - whatever you want to call it - meant folks could enjoy a 3-day workweek. OTOH, I’d rate WF’s ad agency about a B, maybe a B+ (I’ve seen the ad with the locked out lady in pink sweats who goes on a shopping spree a million times and I still don’t hate it), but Wells overall, D- at best.

Also, wow, soooo off base on some of your assumptions that it’s cringeworthy. I am the polar opposite of living paycheck to paycheck. I never check my pay voucher even though I know there could be errors, and I’d set up an auto-transfer of excess cash to my WF brokerage account until I wised up and found a gem of a non-WF advisor who’s a fiduciary and worth her weight in gold. And sorry, I’m not spending my precious time trolling Teamworks for whatever “news” the company chooses to push to us, so yeah, guess I missed the announcement. 🤷‍♀️

Mmm... My paychecks have been deposited on Fridays and I've been banking with Wells for years. I'm not seeing it Thursday or Wednesday.

Which is fine, I don't care. After the first paycheck there's no such thing as 'early'. You just get your check every 14 days. Which day doesn't matter.

Yes, WF employees who bank with WF are now getting paid on Wednesdays (evenings) to be exact. I always wondered why WF hung on to the payroll till Fridays As Payroll is ran Tuesday nights between 9-10 Central. Then All payroll and our paychecks (money) are sent to our banks for processing. Tts that your bank is holding on to those funds and earning interest off your deposit(s). You're Welcome.

It clearly says wouldn't it be nice if other things were two days early? or something like that. It’s a fantasy. WF is not implying we can have thurs and fri off. Good grief. This is just our effort to offer what non-banks are offering w early paydays. If you need this (living paycheck to paycheck or under water sometimes) it isn't going to help you in the long run. We’re just being competitive.

This started 1 to 2 months ago. If your direct deposit is set up with a WF account, funds will deposit Wed afternoon. External accounts are not eligible for the early pay.

@vyk+1kMg5jZ1 Yup. Classic WF.

Has been deposited for a few months into my WF account, but mine is Thursday not Wednesday.

I was automatically opted-in. You’ve gotta be careful because although it’s showing up as pending, it still doesn’t process until Friday, so you can potentially overdraft. I’ve gotten close because I moved my rent payment and excess reserves (I keep a $500 buffer in my WF just before payday) on Wednesday when it was showing available, so by end of day Thurs, the account only had $100 left.

The last few seconds of the commercial when the logo is center screen there is a disclaimer in tiny, light colored text that not all payments will qualify and the 2 day early delivery is not guaranteed.

I get my direct deposit on wednesdays now instead of fridays. So…already happening.

If funds are so tight that getting paid a day or two early makes a difference, then you're just going to get into a vicious cycle of running out of money sooner.

In other words, getting paid early will only help you the very first time. After that, you're just going to be broke two days earlier, until Wells cancels the program. Then you'll be broke for 4 days until payday.

The better solution is to change spending habits so that you're never uncomfortably broke the day before payday. Everyone buys things they don't need. Overpriced coffee, streaming services that rarely get used, other subscription services, etc. Cut for as long as you need to, and then resume later if you really want to.

@OP+1kMg5jZ1
go to teamworks and read about it

This has been in pace for employees for quite some time. How about if you go actually get a clue before rambling on… you look like an id--t.

Ummm...already happening. This was well communicated a couple months ago. I get my deposit in my Wells account on Wed, but my US Bank account is still Friday.