its been good experience
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First, you can likely get better rates elsewhere, which is probably most important.
Secondly, their approval process takes longer than most other places.
I only went with the loan through Wells Fargo because I have 4 other accounts with them, have had accounts with them for more than 20 years, and they offered me an upgraded account based on my cumulative deposits/account balances.
Ironically, as I paid down the balance on the loan those cumulative deposits expired and I was charge additional money for those upgraded accounts, which I could only cancel by visiting a Wells Fargo location.
More inferiating, I used their online bill pay to make my payments. One of those payments were somehow lost. They still deducted the money from my checking account but sent me to collections for the actual payment.
Collections then called to ask me for money 3 days in a row. I explained the situation each time and was told they were looking into it. It finally escelated up the collections chain. They called me today saying it would go to external collections if I did not pay soon. I explained the situation, they reviewed the notes, reviewed my accounts and could see that the money had been deducted but indicated that I would have to call their online bill pay to sort this out myself.
Their customer service rep did offer to wave the late penalties but only after speaking with their manager... and he phrased it as if he was doing me a favor. :-/
I called online bill pay. They canceled the payment and explained that it was somehow sent out as a check so maybe "online" wasn't the best description of their service. They again "offered" to wave the check cancel fee and refund my account in 3-7 business days.
I was still required to then visit a Wells Fargo location to make an immediate payment on the loan balance.
I gave Wells Fargo money for a loan payment, they deducted that money from my account immediately, sent me to collections 7 days later, admitted to receiving that money, yet made me talk to 4 different people over 3 days waiting on hold for a cumulative ~90 minutes and still visit a physical location after using their conveinent "not-so-online" bill pay system. And they now have double the payment amount for this month until I get credited the original payment back in the next 3-7 days.
But hey... they did wave the fees so I have that going for me, which is nice!
If every bank didn't suck I would swtich. Instead I will just never apply for a Wells Fargo Loan for the rest of my life and recommend others do the same.
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