I think could write daily on a section of “why are people so stupid” and today would be no different. I mean do people not think?
So I use bill pay. To be honest I think its great. I have had nothing but good things to say about it. But I didn’t understand one thing about it. It actually mails a paper check, I guess I assumed since in the bill pay process it collects account information it was electronically sending funds. Nope! So one day someone mentioned you can transfer funds to other banks now from wells accounts. I thought this would be a good way to save a bunch of time from everyone handling these paper checks.
I set it up, I was able to get the routing number online by a google search. I find it odd that I have to enter information that is pubicly available, but no big deal got it setup now I wait three days for the process to actually send the test deposits to the accounts. I got them I verified them! Now all thats left is to setup is the automatic transfers.
Setting them up is super easy! I have it all typed in and I am looking at it and I see this little waiver at the bottom “Fees may apply when transferring funds to your non-Wells Fargo account” hold up…. I decided that I wasn’t just going to set it up, I was going to call and ask the criteria at which these fees “may” apply.
The first person I talked to was clueless, beyond clueless. She actually told me the only way to know what if any fees will apply is to do the transfer and see what happens. I was dumbfounded so she was going to explain better. She says “you see Nick the text reads fees may apply, that doesn’t mean you are going to be charged, it just means you could be charged.” Oddly enough I’m still a bit uneasy… She goes on to reassure me that it just means “May apply” I won’t for sure be billed but I just have to “try it and see what happens” She seemed shocked when I wanted a better answer.
The next person was a lot more clear though I’m not sure she knew, she said transfers to other banks cost 3.00 per transaction. Ok at least I now know the criteria at which I am going to be charged – every single time. So I asked what I felt was a good question; “So I have to pay for electronic transfers but Bill Pay where you mail a physical check is free?” Yes Sir! I followed it up with a simple one “Well why is that?” Well thats an easy answer she tells me “transfers have to go through the federal transfer service and Bill Pay is Free” … … … So the process that requires people to actually touch a check, where it has to be mailed paying for postage and on the other end you have to receive it and process it is “free” The process that uses the already verified and setup electronic transfer of funds that require computers to talk, well thats 3.00 per transaction.
To be fair there could be things I don’t understand of the process. Some hidden fees that are applied or something. But that would fall right back into how stupid THAT process is. I mean if thats the case who worked that deal? Someone who gets paid per transaction? Right now two banks process two checks per week one for savings one for checking and then I have a transfer to my wells accounts…. wow.