Got my Wells Fargo Visa Check Card.. it states that is has a daily limit of 500 dollars in transactions.... Is this normal? Or did I get the 'ghetto' check card?? $310 ATM, $500 Purchases... bummer, I was hoping to use this for large online purchases.
I never never NEVER use my Visa debit card for online purchases. In fact I rarely use it at all. If your credit card number gets stolen and used there are laws that protect your liability. If your Visa DEBIT card number gets stolen and used, then you're out real money. Until there are more consumer-friendly regulations about Visa/MC debit cards, I think they are too dangerous to use.
Does it state how soon they are required to credit your account? Could you live for two to four weeks without the money in your checking account? Actually, if Wells Fargo has enlightened policies on their Visa debit cards, I'd love to go open an account.
This is normal procedure. When I had my checking with WF I had same terms. Something about protecting the consumer. Don't remember the exact reason. Anyway, remember its not a credit card, it won't report no matter what type of purchases you make.
Wells Fargo does have enlightened fraud protection on their Visa cards. Their customer service is 24 hours, you are not liable for fraudulent charges, and they are extremely helpful. They can give you an instant credit (including any resulting bank fees)even before they send you the paperwork to fill out. I've had to deal with them before, and they were so helpful and it was so easy, I now use my check card exclusively when I purchase online. As for the $500 daily limit, yes that's completely normal. Virtually all Wells Fargo customers have the exact same check card. If you need to spend more in one day, you can call the number on the back of the card (1-800-TO-WELLS) and they can/will immediately authorize an increased daily limit. I had to do this when I bought my washer and dryer, and it worked like a charm. Last year I got their Gold check card, which offers a $5000 daily spending limit, and includes some nice features like automatic warranty extension on anything purchased with the card, travel assistance, and emergency card/cash replacement. There's normally like a $5 fee with this card, but after you have a certain amount on deposit with them, they give it to you for free. You might ask about it if you're planning on making a lot of purchases over $500. Any other questions about Wells Fargo, let me know. All I can say about them is that the phone customer service (not the fraud people, though) can be really snotty, and I've had a lot of problems with them. However, the bankers in the branches have managed to solve any problems I've had so well, it's made up for any shortcomings. -- cnswift PS- By the way, if you ever accidentally over draft your account, you can call in and give 'em a sob story and the front line phone people can refund them right then and there.
Having a limit of $500-$100 per day on a check card is very normal. Say you had $10k in your account. If someone got your card, would you want them wiping out your entire balance? At least this way they are limit as to the damage they can do. You'll only be out the $500. Even if the bank refunds this to you, it probably would not be right away. They would want to do some investigation first I would imagine.
I have $10,000 in my account...I want to spend $8,000 on it for some stupid reason... I CAN'T!!! I guess it isn't MY MONEY???
I believe you can request Wells Fargo to unsecure more funds. Or you could always just go to the teller themselves, and withdraw.
My debit card has a $500 daily limit on ATM withdrawals, but if I use it at a store I think I can go up to $2500. Anything over that, they make me call the bank before they will approve the purchase. Are you sure the $500 isn't just the limit for ATM transactions?
It was for me when renting a vehicle while mine was being worked on. However, a simple call to customer service opened up more funds.
