More bad news for Wells Fargo

After Wells Fargo announced their new fees last month, some of Wells Fargo clients decided to close their accounts, myself included.

Well, as if that was not enough, here’s the new thing: Wells Fargo mixes up customer statements. They sent account statements to the wrong people.

They claim it was a “printer error”, but I would certainly not like my bank sending my statements to someone else, whatever the reason is.

But here’s the lesson to learn for us – the clients. Use on-line statements.

Why do you need the paper statements in the mail? They can get lost, get into someone else’s mailbox, and even when you do receive them properly – you need to dispose of them later on so that it won’t be risking your identity. Shredding and burning, and all that. Why bother? Change your statements’ delivery options to on-line now, save some trees and some potential troubles.

If you pay account fees, many banks will give you a discount for giving up the paper statements.

This is true for all your bank accounts, savings account, credit cards, brokers, and even your 401K and IRA accounts. They all can post your statements on-line, instead of mailing them to you. So many trees can be saved, so much identity theft potential avoided… Can’t understand why people still want the printed material…

Your Little Advisor