Post Severance Not So Good Either

Completed my 10 month severance period some months ago. I came back here (nothings changed) to give a warning to the legacy Wachovia people who get displaced. Change the checking account you are getting your pay sent to and close it during the severance period. WB put all of our payroll checking accounts into the CAP account way back when. I think it's called Command now. It's the checking account with the overnight brokerage sweep. I forgot about it because I never once in 18 years used the brokerage sweep function. Well two months after leaving, WF charged me a $150 annual fee for the account. It was free for employees. I tried for two weeks to get it reversed and they wouldn't do it.
If you are getting a prorated bonus next year it is for work done this year. If you collect social security WF does not report the prorated bonus as earned in the previous year. That matters if you start collecting social security early because of the earnings cap. It shouldn't count and I knew that but WF didn't report it correctly to social security. WF gave me an address to send a form that they needed to fill out so I could fix that. 27 days later the envelope came back no such address. I called the outsourced call center again and they gave me the same address even after I told them what happened. I reported it to CFPB and got it resolved in 4 days. SSA was going to take three months of my social security back due to that WF error.
I had a gap between my medical ending with WF and getting to Medicare where I am now. Again, I planned to go on my wife's policy for 7 months. To make that change I needed proof that my "credible" coverage was cancelled and the exact date. WF sent me a letter (couldn't email, couldn't fax) that came two weeks later. That would be okay because my wife's plan said they would back date my coverage to the date it was cancelled. WF reported my coverage ended a YEAR before it actually did so my wife's plan said they could only add me starting that day. They couldn't cover my doctors visits earlier in the month. Took three weeks for WF to correct the mistake and send me another snail mail letter.

Bottom line folks is WF will continue to sc--w you over even AFTER you leave. My last stock options vested this week and I will be done with everything WF. What are the odds that third party outsourced process gets sc--wed up too.

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@gsb+1rF93QwJ "I'm getting out if here and so are several other newbies that joined at the same time."

Yup, you younglings are better off someplace else to develop your careers. WF is a revolving shtshow.

Original poster here. Some of these response show how clueless we all are. I didn't open the checking account with the fee, WB put me in it. Why would I think about a fee that I never paid for so many years? Why wouldn't WF notify me before charging the fee? Also, prorated bonus IS important to the SSA, I never said IRS. For tax purposes it's 2022 earnings when paid in 2022 but for counting income against your SSA payment limit it is technically 2021 earnings which makes a real big difference to your SSA payments. Read up on social security income limits in early retirement.

@1hlh+1rF93QwJ. Yep and you have to perform at top level among bottom feed material, systems & processes.

@1hlh+1rF93QwJ. ...and let's not forget the constant corporate mainframe outages and updates that shut down your PC right when you're working on a deadline.

This is the type of dysfunction that finally drove me, exasperated, away from the company last month. My well-being over the last two years had been eroded by constant frustration, building into anger, at the breakdown of the basic corporate fabric around me. Directories and other basic corporate records stopped being updated; data I relied upon started coming horribly mangled; departments we relied upon for info were decimated and stopped responding. WF is a deeply troubled, ailing organization. I quickly got another (better) job where I have much more work (I’m working alllll weekend!) but my stress is way down, because there’s no stress like that that comes from daily futility in the face of a dysfunctional bureaucracy.

@dvb+1rF93QwJ

I agree. Buyer beware. In this case all US employees should pull their funds from WF and close their accounts. If WF wants to be Ds to their employees and retirees, F them. Lots of other superior financial institutions. My savings account is earning 5.25%.

Worked at WF for 27 years. Retired last month and they gave me my only bad review in 27 years so the could sc--w me on my final bonus. It was a don't let the door hit you in the a-s on the way out kind of send-off.

if you pull up your statements there is a section on fees as well as links to get the full disclosure. I'm surprised customer service wouldn't waive the fee as a one time courtesy. Typically if at first your don't succeed, hang up and call back.

Thank you for sharing your experience in an attempt to help others. Ignore the A-holes.

@dvb for the typical WF response and A hole award.

Why we he recall a free account from 18 years ago is $150 for everyone else? The fact is this place is so outdated with having vendors that “can’t” do this and that yet we still pay them and we can’t email a letter in 2024, frankly, is ridiculous. World class shht show is what it is.

good info but shows people, you included, need to pay attention. It's on you not realizing what type of checking you had and whether you'd get a fee. Any special employee benefit will go away once you no longer an employee. as for pay this year for work you did last year, I would think it is common sense that the when you get paid is the year they count it in. Happens the end of almost every year where your first paycheck of the New Year inevitably contains days you worked from the prior year. the company isn't trying do anything nefarious, this is what it is. if you don't like it then talk to the IRS

I'm new to WF and can already see the #wellsfargoshitshow. Unbelievable how WF survived so long. Smoke and mirrors.

I'm getting out if here and so are several other newbies that joined at the same time.

This post is appreciated. Thank you for looking out for others.

Not surprised. Sorry you had to go thru all this muck, but I've not seen one single good, decent, smart process in "the firm" since I've been here.
Seems like everything is just one giant cluster.

Some very good advice here.

Thread regarding Wells Fargo & Co. layoffs

Post Severance Not So Good Either

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