This week I received a check from a buddy of mine, written on his company's checking account. His account was with Wells Fargo, and - as I don't have an account with them - I decided to drop by the local branch to cash the check.After a 10-minute wait in line, there was finally a teller open. I presented the check, and my driver's license. "I'd like for you to cash this check, please," I said. "Do you have an account here?" the teller asked. "No, I don't," I countered "but the check's written on a Wells Fargo account, so there shouldn't be a problem...right?"
"I need TWO pieces of identification, please," was her reply. I handed over my passport. She took both pieces of identification in hand, and went to another room, returning with a small ink pad in her hand. "You'll need to provide a thumbprint to get your money," she declared. "Really? After giving you two government-issued I.D.s you need a thumbprint as well?" I asked. "Yes, sir, we do." I'd come this far, so I thought what the heck, I'd oblige her.
"All seems in order," she said, looking over my driver's license, passport and thumbprint. "That will be $5." "Five dollars? For what?" I asked. "Well, this is written on a company checking account, and we charge $5 to cash those checks," she informed me...to which I replied, "What if it was written on a personal checking account?" "Those we cash for free," she stated. Feeling a bit of a smartass, I asked, "So, in other words, you really put the screws to your business customers - and their customers - don't you?"
"That's how we do business, sir," was the teller's explanation, "if you don't like it, you don't have to do business with us." I explained that I don't do business with Wells Fargo...and for good reason.
What a load of crap. At most banks Business accounts are already assessed the highest fees going on the front end. At Wells Fargo they seem to want to get it from both ends.
I know...that's two posts in a row where I come across as "old man grumpus". Guess it must be my old age starting to show. I'll do better next post. I promise.
Substantial interest penalty for not checking out humor-blogs.com
1 comment:
I know what you mean.
I once had to cash a personal check at Bank of America and they charged me five dollars also. I couldn't believe it. Most banks I have come across don't charge anything to cash checks. I just don't understand the need for a charge for a task that is so simple. Seems like another way to rip us off.
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