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> A few months later walked by a branch and on a whim decided it was a good time to close my account. Walked in, ask to close it, they said I had to wait, I said oh OK that's alright I'll just withdraw all of it. Good riddance.

Careful, if it's not actually closed they'll hit you with fees.




C'mon, this is Wells Fargo we're talking about! They'll hit you with the fees whether the account was closed or not.


Or just apparently open a new account for you.


"a" new account? not 5?


Just logged in to check.

Balance: $0.31

"This account is dormant. Call us at 1-800-869-3557 to reactivate or close your account."

How convenient that there's absolutely no information about the consequences of a dormant account.


And thats when he realized Wells Fargo got the last laugh, 10 years of late fees


Personally I would simply ignore those fees. At the end of the day they have zero leverage to collect.


If only.

All banks, even the local ones, use something called Chex Systems, which works somewhat like Equifax for bank accounts. If you leave an account open with a $0 balance, and something hits it, and causes an overdraft, and accumulates fees, and then they close it later on for you with a negative balance for hundreds of dollars, then this gets reported to Chex and the next time you try to open an account with any other bank, they say, "Nope, we have a record here for you for account abuse."

These records stick around for about 7 years -- longer than many items on a credit report.


Can confirm. I had a negative ChexSystems report cause me all manner of grief after a credit union account I forgot about got closed out 23 cents in the negative.

Two dimes and three pennies. It cost them more than that in angry phone calls and reporting it in the first place.

Broken system.




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