‘I’m very disappointed in Wells Fargo,’ says retiree who had bank account with them for 20 years before sudden issue | 8Z45CU8 | 2024-04-28 17:08:01
'I'm very disappointed in Wells Fargo,' says retiree who had bank account with them for 20 years before sudden issue | 8Z45CU8 | 2024-04-28 17:08:01
PEOPLE are creatures of habit, which is why one banking customer is struggling after his bank of choice made a major change.
Zeke Armstrong has been a customer of Wells Fargo Bank for nearly 20 years and has enjoyed his tenure there.
Just a five-minute walk from his home, the New Haven, Connecticut, branch location is his go-to stop for all financial needs.
But that is all changing now that the 388 Whalley Ave. location announced its closing slated for May 15.
Armstrong is a retired aerospace technician who does his post-workforce financials at the bank.
"I'm going to miss the branch," Armstrong told the Middletown Press.
As he stood outside of the location he expressed his views on the company's decision.
"I'm very disappointed in Wells Fargo," said the retiree.
A STATE LOSING BANKS
Including this branch's closing, and another closing in the nearby town of Bethel, Connecticut, Wells Fargo has closed 20 locations in the state since 2019.
This leaves 50 Wells Fargo locations in Connecticut and over 5,000 locations nationwide.
"Branch closures are not easy decisions or ones that we take lightly, and we apologize for any inconvenience," Wells Fargo wrote in a statement.
"While branches continue to be important in serving our customers' needs, we're finding that customers are often using our wide range of digital capabilities for many of their banking needs."
<!-- End of Brightcove Player --> But the Wells Fargo closures point to a larger trend in the state.
Since 2019, around 170 national-level bank locations have closed in the state reports data from the federal Office of the Comptroller of the Currency.
Tracking since 2014, the state has experienced a total of 24% decrease in bank locations.
<!--googleoff: all--> <blockquote class="article__quote"> </blockquote> <!--googleon: all--> The New Haven Wells Fargo closure joins a growing list of locations that have shuttered their doors this year which includes:
- 1150 E. Vista Way, Vista, California
- 159 Greenwood Avenue, Bethel, Connecticut
- 14731 Biscayne Boulevard, North Miami, Florida
- 4285 US 1 Highway South, St. Augustine, Florida
- 200 South Broadway, Minot, North Dakota
- 2500 Morris Avenue, Union, New Jersey
- 12343 Barker Cypress Road, Cypress, Texas
ACCOUNTS CLOSING
In addition to closing locations, Wells Fargo is also facing customer backlash after a slew of account closures.
One Wells Fargo customer shared the details of their unfortunate banking experience in a Facebook post.
Wells Fargo had closed their only ministry bank account without notice or reasoning while they were traveling 600 miles away from home.
"We have spent 24 hours working on getting answers to no avail," they wrote.
According to the user, they were denied access to funds which prevented them from depositing or withdrawing money from the account.
They were informed that they would have to wait 10 to 14 days before hearing back from the bank regarding the situation.
Another customer took to a banking thread on Reddit to tell their story.
The customer claimed they had a regular savings account with the bank and a 1 dollar a day savings.
Wells Fargo will automatically transfer $1 from a user's linked Wells Fargo checking account to their Way2Save Savings account every time they perform certain transactions, according to the website.
They claimed they received an email without warning saying that both accounts were closed with a balance of zero dollars.
"Apparently I was under some limit? But I was never informed my account would be closed. My money is just gone then? There was no point in trying to build up savings?" they questioned.
The user described their year as "weird" financially and explained that they had "iffy jobs" and an uninsured medical emergency leading to some variable bank account levels.
"I really put effort into saving and could have used the money elsewhere, so this is really frustrating," they mourned.
The branch will close on May 15, as will another branch in Bethel, Connecticut[/caption]
More >> https://ift.tt/Ms8xt95 Source: MAG NEWS
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