I have my checking and savings accounts with Wells Fargo and lately every time I have gone in to make a deposit, they start pestering me about adding overdraft protection on my account. Does anyone bank with them and know if they check your credit for this or what their application for overdraft protection entails??
If you have CHECKING and SAVINGS...I would ask if they can be "LINKED" so they AUTOMATICALLY TRANSFER FROM THE SAVINGS TO CHECKING TO PREVENT A BOUNCED CHECK... If you get OVER-DRAFT it would be a "LOAN" and they would check your credit...
They definitely check for non-linked OD protection. It's just like getting a cc from them. BTW they have also taken to regularly pestering about helocs.
I've started banking with Norwest Bank in 1978. Norwest purchased Wells Fargo and kept the Wells Fargo name a few years ago. Many people don't like Wells, but Norwest was pretty nice to me. I used my Wells credit card for overdraft protection, but they've never "pestered" me. I know they try to get people to have more than one or two "products" with them. An atm card, account, loan, etc is considered a "product". Their reasoning goes...the more products you have with them the longer you'll bank with them. Their locations are really convenient, especially here in Texas with 7 day a week supermarket banking!
I have a checking account at Washington Mutual not Wells Fargo..but they give me a $1,000 OD limit ..it shows on my Statement each Month...I only have the Free Checking w/them..no other accounts.....They DID NOT check my CRA's....I didnt apply for a loan!..... Tony V. San Diego
