Off topic discussion on banking


Yes, off topic, feel free to move this to its own thread?

Either way, since I can not use my RW number to get into my WF account, calls and texts to it no longer work…I am changing bank, instead of changing phone companies.

Looking at their configurable compare banks table, Discover clearly wins on pretty much all points as far as account specs requirements go. I also have had a Credit Card with them for a few years now. They had an offer for current customers to open a Banking account with them and they deposit $200 after 30 days. Their Interest rate on Savings is 2.10% vs most others 0.01 - 0.03%. They are a bit new to the Banking field, but I am willing to give them a chance. Only is not much an issue for me. I have only ever gone into a WF location maybe a handful of time in my entire life. These days, checks can be sent through app. Cash, i just spend on things I normally would use my card for in person. Only issue I have had now, PayPal does not support linking a “Virtual” bank or prepaid banks, so I have learned. (Ally, Capital One 360…etc,)

I refuse to use a bank that has “Maintenance Fees”.

As far as local banks, TCF and US Bank are founded and headquartered in my local area actually, but again, their accounts charge fees or have balance requirements i do not agree to. My mother has had much issues and bad service from US Bank. Bank Of America, i have a Rewards Credit card with them and love it, best rewards rates etc, but their banking requirements are far less appealing than Discover, also, I have had multiple friends, and colleges advice to stay away from BoA. Many “horror stories” they passed on to me.

I am uncertain how I feel or trust in local credit unions…small business based, one location, have to be a member thing. Some thing happens to them, poof, your account gone. If the big companies can’t do things well with their unlimited resources, how can a small limited resource bank excel and further advance? Also the issue I have seen others i know personally run into that sometimes checks or payments are not supported from credit unions at some places or services. Also, if i move out of the state, which may happen in the future, I would have to change banks anyway.

Work Around for Wells Fargo Access Code

Um, no. Credit unions like banks are insured. For federally chartered credit unions, there is the NCUA. State chartered credit unions are insured by the relevant state regulatory agency.

You’ve put your faith in a smaller company for mobile phone service. I assure you it’s perfectly safe to do with one’s money as well.

Well, Republic is a smaller company that has managed to innovate and, for me, provide an overall excellent if not perfect service experience. Community banks and credit unions do that too.


I don’t equate a phone service company to a thing like a bank.

But you have valid points.

If Discover don’t work out, or screws me over in the future, I will look further into other options. For me, it was the best choice over the others at present time. I dont have the time and trouble to deal with it further.


I don’t know if any of this pertains to your problem with WF, but here is my experience with my Republic phone.

With my WF accounts and my Discover accounts, I use their mobile websites, not their apps. The mobile sites do everything I need (manage accounts, transfer funds, view statements, etc.). About the only thing they don’t do for me is mobile deposits. I use a CapitalOne app for that. I prefer NOT to have lots of bloated apps cluttering up my phone. The WF and Discover mobile sites appear with logos on my home screen and look and work like apps.

With WF, I have never had a problem getting SMS messages after making deposits and withdrawals at an ATM. Maybe it’s because they send the SMS to my home number (a Google Voice number which somehow magically sends the SMS messages it receives to my Republic Anywhere app.) I don’t know how or why this happens but it seems to work.

At least for me, I don’t need to change phone companies, or banks.


I almost never use or keep a Mobile banking app on my phone. In the rare event i need to deposit a check, i install the app, use it, then remove it, or, I do have it installed on an older spare phone I have in a drawer, but the time it takes to power it on, update apps, then use the banking app, is longer than just doing it on my main phone. I always use my home computer on my secure home network to check my bank or do accounting.

I have never had any major issues with Wells Fargo in the 16 yrs with them, though I have heard plenty stores and reports from others of issues. This most recent outage and data-center failure is the first time such an issue has directly affected me. Not only did this cause my direct deposit paycheck AND my MN State Tax Refund Deposit to not show up and is now missing, I have had no online access to my accounts since the 7th of this month, now 5 days of no access. There was no way to call into the bank and they shutdown all branch offices. When the online portal did finally start working again, I could not get past the “Advanced Access” page, their 2FA, I never got a text or phone call. After too many attempts, their system automatically locked me out and only gives a page that says “Contact us for Access”. Their call center still was not accepting calls. 2 days later, I got through after a 45min hold, then hung up on, then another 40 min hold. They said system indicated text or call was sent, but i never get it. I see then on RW site that other users no can not use WF SMS banking, and I tried to send a text to the WF SMS number, nothing. The agent did say that other customers on other cell carriers are having issues as well. They refuse to unlock my account. Tried the Verify Identity questions, those failed of course, and since they can not send a text or call my phone, they hung up on me. I went to a branch location, told by manager, they can not do anything about online access, call 800 number. I want to withdraw my funds and close account now. They refused, as they could not “verify my identity” by sending text or calling my phone from their system, so I made a fuss, and well, Police escorted me out.

There were people stranded on the side of the road in negative temps and a major winter storm here in my state unable to pay for shelter or a tow, there were folks unable to pay to pick up their car from a repair shop after being dropped off, or to pay for their hotel room or food for thier kids, because no WF cards or checks would go through for a full 2 days timeframe. The stores had no idea at first, just that a customers card was declined and many called the cops on people and some got arrested.

Absolutely unacceptable condition. It has been revealed that ONE, yes, only 1, of WFs data centers had a emergency shutdown thanks to construction dust that triggered a fire alarm and sprinkler activation. WF had their backup systems so mis-setup that they did not kick in and it was also revealed that they were tied into the main system so much so that they failed as well…something like that. So if only one data center goes down, that takes down the ENTIRE nation wide company and their services, especially for me, a very tech savy person and a IT Professional, i want nothing to do with such a incompetent company.

Second, look on wikipedia (and the reference links notated there) and you will see a diary of the illegal scandels and practices WF and been in trouble for. Many people lot their homes and some their lives because of WFs practices. Many fraudulent accounts were opening by WF in order to boost their numbers. The list goes on.

I have been wanting to move away from WF for a while, but it was too much a hassle. well, i got my reason and shove to finally do it.