I left this company a long time ago for a tech company, and remained a customer of this bank.
After a very lengthy, confusing, and almost incoherent call with a Wells Fargo employee recently regarding my investment accounts. I was left with more questions than I have answers. Not only could the individuals not assist me, It felt like they were following a script. No answers were provided, and My buy order was never placed. Just left a very sour taste in my mouth and led me to some other questions.
I hope this was a one off experience, But doubt that based on the employees I spoke with coinciding with the banks reputation Of being a habitual offender. It made me wonder who is looking at My personal information, specifically account activity, and info?
It was very difficult to understand these employees which makes me think they are not located in the states. it seemed each employee I spoke with had a different answer, even though I was asking the same question. Furthermore, if in fact, these employees I speak with are not located in the states I don’t feel comfortable with them reviewing my personal information, along with my investment account information.
It bothered me enough to where I had to do a little research and came across this site. let’s just say I am appalled, and conflicted at this company’s business practices or lack there of. Once I hung up, I could not help but wonder who is reading this information and how are they able to provide support if they are offshore?
It seems as if there is no risk or control framework in place that protects stateside customers. I felt very uncomfortable having to verify my information to someone from a Third World country where fraud is rampant, and supporters of Russia.
After reading the comments on this site. I am convinced that customers data is visible too all employees outside of the USA? After reviewing the comments on this site. It sure seems that way. I mean, how else would the employees I spoke with verify my information? Does this company not have any sort of information barriers or data governance policies in place? Another big concern of mine is, why am I speaking with someone located out of the states, supports Russia, and barely speaks English yet has a name like chuck.
I find it shocking, unethical, and risking customers information here in the states To save on labor costs when those savings will be paid to regulatory violations, if this bank is truly not protecting their customer data.
The sentiment alone on this site paints a picture of how risky it is. It really seems like there are disgruntled, employees, offshore, and stateside, and nobody knows what they are talking about.
I have been banking with this company for years But after my most recent call with this company, I find it too risky to continue doing business with them. I was never provided an answer to any questions, my buy order was never placed, and now it seems Offshore employees who support Russia’s war effort had full access to my information.
This is completely unacceptable! As a customer, and stakeholder, I am appalled! This has to be the most riskiest operating model I have ever Come across. I am not comfortable with my information, going offshore, especially information related to my investment and retirement accounts.
This experience coinciding with the recent report of the stress test, I Will be moving my money to a more secure institution. It has been many years since I had worked at this company But this is just risky, unethical, and morally wrong. When I hang up the phone with someone who has my sensitive information and access to my accounts, it made me lose sleep.
My next phone call will be me instructing them to move my money to another account at another company.
It’s a shame that this company has sacrificed talent for cheap labor. Let’s not forget they are also supporting an economy that is not the United States. It’s easy enough for me to take my business elsewhere. For a company that is trying to rebuild its reputation yet continues to be a habitual offender on regulatory matters, I guess my risk appetite is not as big as theirs. or they are just stupid! Spread the word, I know I will. Where the heck are the regulators?
#SEC
#WFC
#Ethics
#FutureEnron
#2025
#2024
#REGULATORS!
#Loopholes
#Anti-American
#Investing
#Banking
#CFPB
#OCC
#WellsFargoBank