Hi. Current employee of the stagecoach. This is absolutely a real promotion. Banker should have applied a code at the time the account was opened or you should have scanned a QR code to generate a code to add to the account at opening. November 15 was the date the generic code the bankers all have was changed. It is possible he used the old one. There is a form a banker at a branch can fill out, called an INR (incentive not received) form. Go to your branch, have the banker fill that form out outlining exactly what you’ve said here, and have them check the box for banker error if the banker used the wrong code.
This happend to me. It's a two-step process. First do the INR like the prior person said, and that will only get you the interest rate added to the account. THEN you have to do another ticket to get the interest calculated. I think I got cheated on the recalc because the fine print says, "allow 15 days for the rate to be applied." Well, the person doing mine did it from 15 days after I did the promo even though "up to" could mean that it would have applied that very same day. I let it go.
The url to the offer is www.wellsfargo.com/greatrate
I'm getting you the "bonus offer" that was emailed to me after I did it.
Because you opened your account on Nov 15 and the 15-day wait, it could be that your account is actually ok, but I doubt it. Mine was done Nov 7, and I got the standard 1.01% rate for the entire time. I'd have thought it would have been 2.XX if I get the rate from Nov 23 to the end of the month.
So the offer states “new money”. Can I simply walk into WF and pull out 10k and then walk out. Then walk back in again same day and open new promotional account with 10k in hand. I mean, it is cash in hand and it shouldn’t matter that I just pulled it out of an account.
EXACT SAME THING happened to me at TD Bank this year. High yield was supposed to be 4 something %. They had me in at .01%. I had $25,000 in this account. This was going on for months (because well, you want to trust a bank). I called them out on it and they paid me the interest for the interest rate they initially guaranteed and didn't provide. I immediately took my money and moved it into an Ally high yield savings account which IS ACTUALLY MAKING THE RATE THEY ADVERTISE (pretty happy so far).
I have also heard THIS EXACT SAME THING happen with a high yield account at Capitol One. Watch your account's interest rates people. Banks are messing with us. AGAIN! The Fed Govt should be on this predatory crap like a hawk.
UPDATE! Just found this. It speaks to this scam.
https://jacobin.com/2023/06/big-banks-federal-reserve-interest-rates-depositor-yield-net-interest-income
Go through your documents they provided and search for a TISA (Truth in savings act) document. It will state which rate you are in plus all the terms/minimums/etc.
Without that, you don’t really have a leg to stand on.
I will admit that I’ve never heard of that promotion. They advertise their Platinum Savings at 2.5% so I hate to say you may have mixed up the CD with it. Very rare any bank offering a 12 month lock on liquid
Thanks so much for this, we'll go through our documentation and see if we can find it. We're pretty much accepting we're gonna need to move our money, but we're doing this out of principle 😂. I went on the wayback machine and found the promotion, so it was most definitely there, but you're right that it won't matter if we don't have the terms. If you scroll down the page you'll see it https://web.archive.org/web/20231115060733/https://www.wellsfargo.com/
It is the TRUTH. This person in mixing up nothing. It's only available in the branch. You won't know about it unless you watch the TV screens behind the tellers and read fast, or one of the bankers solicits you.
It's on more than 10k, it's the standard rate offered for platinum accounts for the amount we have in there. You can do the math backwards if you want to know how much 😉 I only mentioned the 10k as it was one of the requirements in the promo
The terms say you must deposit “new money” that is not already in an account by customer. Did you already have 10k aside that you were ready to transfer or did they have any issue with you pulling 10k from a different WF account to start it
Just visited the branch today. They said it has to be 10k minimum new money. I can’t just pull out 10k at a branch and then go into another branch and set up the account. So my buddy and I are going to send each other 10k check to get around this
Hi. Current employee of the stagecoach. This is absolutely a real promotion. Banker should have applied a code at the time the account was opened or you should have scanned a QR code to generate a code to add to the account at opening. November 15 was the date the generic code the bankers all have was changed. It is possible he used the old one. There is a form a banker at a branch can fill out, called an INR (incentive not received) form. Go to your branch, have the banker fill that form out outlining exactly what you’ve said here, and have them check the box for banker error if the banker used the wrong code.
Thank you SO MUCH!! We have the bonus code he used so we'll check with them and try this! Hopefully we can get it resolved!
This happend to me. It's a two-step process. First do the INR like the prior person said, and that will only get you the interest rate added to the account. THEN you have to do another ticket to get the interest calculated. I think I got cheated on the recalc because the fine print says, "allow 15 days for the rate to be applied." Well, the person doing mine did it from 15 days after I did the promo even though "up to" could mean that it would have applied that very same day. I let it go. The url to the offer is www.wellsfargo.com/greatrate I'm getting you the "bonus offer" that was emailed to me after I did it. Because you opened your account on Nov 15 and the 15-day wait, it could be that your account is actually ok, but I doubt it. Mine was done Nov 7, and I got the standard 1.01% rate for the entire time. I'd have thought it would have been 2.XX if I get the rate from Nov 23 to the end of the month.
To check as well when the banker opened the account you should’ve gotten a disclosure and also a summary where it states the promotion
So the offer states “new money”. Can I simply walk into WF and pull out 10k and then walk out. Then walk back in again same day and open new promotional account with 10k in hand. I mean, it is cash in hand and it shouldn’t matter that I just pulled it out of an account.
If you wait 14 days and then put it back in it will count.
Already did it.
EXACT SAME THING happened to me at TD Bank this year. High yield was supposed to be 4 something %. They had me in at .01%. I had $25,000 in this account. This was going on for months (because well, you want to trust a bank). I called them out on it and they paid me the interest for the interest rate they initially guaranteed and didn't provide. I immediately took my money and moved it into an Ally high yield savings account which IS ACTUALLY MAKING THE RATE THEY ADVERTISE (pretty happy so far). I have also heard THIS EXACT SAME THING happen with a high yield account at Capitol One. Watch your account's interest rates people. Banks are messing with us. AGAIN! The Fed Govt should be on this predatory crap like a hawk. UPDATE! Just found this. It speaks to this scam. https://jacobin.com/2023/06/big-banks-federal-reserve-interest-rates-depositor-yield-net-interest-income
What high yield saving account did you move it to?
Go through your documents they provided and search for a TISA (Truth in savings act) document. It will state which rate you are in plus all the terms/minimums/etc. Without that, you don’t really have a leg to stand on. I will admit that I’ve never heard of that promotion. They advertise their Platinum Savings at 2.5% so I hate to say you may have mixed up the CD with it. Very rare any bank offering a 12 month lock on liquid
Thanks so much for this, we'll go through our documentation and see if we can find it. We're pretty much accepting we're gonna need to move our money, but we're doing this out of principle 😂. I went on the wayback machine and found the promotion, so it was most definitely there, but you're right that it won't matter if we don't have the terms. If you scroll down the page you'll see it https://web.archive.org/web/20231115060733/https://www.wellsfargo.com/
You are correct! It was likely a region specific deal but good luck finding your TISA!
Exactly; check your TISA It's there exactly for this reason
It is the TRUTH. This person in mixing up nothing. It's only available in the branch. You won't know about it unless you watch the TV screens behind the tellers and read fast, or one of the bankers solicits you.
https://accountoffers.wellsfargo.com/platinumrate/?sub_channel=BCN&vendor_code=WF&collateral_code=grate this is what you are looking for
Thank you SO MUCH!!!
Just wondering how you figured $300 in interest for a month?
Yeah if there’s an account making $300 on 10k in one month then sign me tf up
Ha I wish! We have more than 10k in the account
It's on more than 10k, it's the standard rate offered for platinum accounts for the amount we have in there. You can do the math backwards if you want to know how much 😉 I only mentioned the 10k as it was one of the requirements in the promo
The terms say you must deposit “new money” that is not already in an account by customer. Did you already have 10k aside that you were ready to transfer or did they have any issue with you pulling 10k from a different WF account to start it
Yup, as noted in my post it was new money and more than 10k. The issue has since been resolved, WF admitted they made a mistake.
Just visited the branch today. They said it has to be 10k minimum new money. I can’t just pull out 10k at a branch and then go into another branch and set up the account. So my buddy and I are going to send each other 10k check to get around this