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Report: #148794

Complaint Review: Wells Fargo Bank - Portland Oregon

  • Submitted:
  • Updated:
  • Reported By: Germantown Maryland
  • Author Confirmed What's this?
  • Why?
  • Wells Fargo Bank 3 Portland, Oregon U.S.A.
  • Phone: 800-956-4442
  • Web:
  • Category: Banks

Wells Fargo Bank Ripoff - Online Savings Account Scam Portland Oregon

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I opened a savings account online 3 months ago for $200. Each month since then I have been charged a $5 fee - resulting in a $185 balance. This means that the value of my account has declined by 7% in 3 months. I've been trying to close the account either online or by phone with no success. I finally got an e-mail from Wells Fargo saying that they would send me a "Bank Official Check" after charging an $8 fee, which would reduce my balance to $177.

This means that I have lost 11.5% on my "investment." I could have purchased several shares in at least 3/4 of the companies on the New York Stock exchange and either made money or lost less than the "safe" investment in a Wells Fargo savings accout. You've heard of "loan sharking"? This is "bank sharking." Beware of Wells Fargo!

Craig
Germantown, Maryland
U.S.A.

This report was posted on Ripoff Report on 07/07/2005 03:07 AM and is a permanent record located here: https://www.ripoffreport.com/reports/wells-fargo-bank/portland-oregon-97201/wells-fargo-bank-ripoff-online-savings-account-scam-portland-oregon-148794. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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