Wells Fargo Bank, CONIFER BRANCH

Michael Davis
Overall Rating
Office Environment & Staff
by MDavis0735, Jul. 22, 2013

I have been a Wells Fargo customer for many years, and have been very pleased with my banking relationship. I moved to the area in 2009 and began doing business with the local branch. I found the people at the branch very friendly and helpful.

In May of this year I began a review of my estate planning. I decided to change beneficiaries on several mutual fund holdings. I contacted the funds and gathered the required documents to make the change. Three of the mutual funds required a medallion signature guarantee.  

I filled out the forms and on May 13, 2013, and I contacted my Wells Fargo branch by phone. I explained that I needed a medallion signature guarantee. The lady I spoke with told me that yes, Wells Fargo did offer that service to its customer and I could stop by at any time.

I drove to the branch, waited outside the banker’s offices and when I was able to speak with someone, they informed me that the one person who had authority for a medallion signature guarantee was not in, but would be available the following Wednesday.

On Wednesday, May 15, 2013, I returned the branch and inquired about the signature guarantee. I was told that the person who could do the medallion signature guarantees was not available. I said it was all right; I would stop by another day.

I put the forms aside and forgot about them for a while, then in early June I went back to the branch with my forms. I waited outside the banker’s office and when asked, I explained why I was there.

Shortly, Mr. Ronak Shah stepped out of the office to speak with me. I explained that I needed a medallion signature guarantee for three beneficiary forms. Mr. Shah asked to see the forms and I handed them to him.

Each form was folded to the page that required the signature guarantee, and a stamped envelope was attached to each with a paper clip. Mr. Shah carefully read the first form, in the process; he managed to drop the envelope to the floor. I knelt down and retrieved the envelope from the floor at Mr. Shah’s feet. Mr. Shah carefully read the second form, he drop the envelope to the floor. I knelt down and retrieved the envelope from the floor. Mr. Shah read the third form and again, dropped the envelope to the floor. For the third time, I knelt and retrieved the envelope from the floor at Mr. Shah’s feet.

After three to four minutes of study, Mr. Shah advised me that he could not do a signature guarantee because I had already signed the forms. This in spite of the fact that I am personally known to several employees the bank, I had three forms of signature identification, and I offered to demonstrate my signature for his approval.

I left feeling a bit unhappy. I’m sure Mr. Shah didn’t intentionally drop my envelopes, one by one, but he did stand there while I knelt to retrieve them three times in a row and never said so much as, “sorry.” And I was displeased that he would not accept my signature on the forms as my own, given the personal relationship I (once) had with Wells Fargo.

In the end I told myself that Mr. Shah was being professional and that I should follow his instruction, go back to the funds, get new forms, complete, but not sign them, and return for the required signature guarantees.

I wasn’t excited about the prospect of downloading and completing new forms, so I put it off. Then July 18, 2013 I did locate new forms, print them and complete them as per Mr. Shah’s instruction.

On July 19, 2013, I went back to my Wells Fargo branch, took care of a few deposits and asked to see a banker. Mr. Shah appeared and I explained the reason for my visit.

I was ushered into the Bankers office and asked to take a seat. I presented the newly printed forms to Mr. Shah. He again went through each page carefully reading the information contained there in.

Although it was not required by the mutual fund companies, in cases where I had a statement at hand, I attached it to the form for the fund companies convenience. Mr. Shah spent a great deal of time studying these statements, which irritated me somewhat. After all, these are not Wells Fargo accounts, and in my way of thinking, the details of my holdings in other financial institutions are really none of Mr. Shah’s concern. I said nothing and waited patiently.

Finally Mr. Shah got up, took one of the three forms to a copy machine and made a copy. I thought to myself, “If he needs a copy of each, why doesn’t he simply copy all three at the same time?” But I said nothing and waited patiently.  

Mr. Shah returned to his desk and again spent a minute or more studying my private financial information. At last, he finally stamped the document and handed it back to me.

The Mr. Shah picked up the second form and again began rereading it, line by line. After a few minutes (at this point my family, who had been waiting outside, gave up and left to do their shopping), Mr. Shah looked up from his studies and asked, “Do you have a statement for this account?” I said, “No, this is an online account, I don’t receive a paper statement.” Mr. Shah said, “Well I must have one.”

I explained that I had attached statements to the forms as a courtesy to the fund companies, and that they were not a required part of the documentation. Mr. Shah insisted that he must have a copy of my mutual fund statement. I said that my understanding of the purpose of the signature guarantee was to verify that the signature on the document I was presenting was indeed my own, and that my personal financial information was none of Well Fargo’s concern.

Mr. Shah was adamant that he would not guarantee my signature without full disclosure of my personal financial information.

At this point I asked to speak to a manager. In a few moments a lady appeared and introduced herself as Ms. Angel Williams. I explained to Ms. Williams that this was my forth visit to the bank for what should have been a simple transaction. I explained that the forms I had brought did not require the attachment of a statement detailing share prices and quantities, and I explained that I had meet with Mr. Shah previously, and that after he had spent considerable time studying my documents, he had not made me aware of this peculiar requirement.

Ms. Williams began saying that, yes, my statements were required, and at the same time Mr. Shah interjected that, “I certainly did tell you that.” I said. “No sir you did not.” He again stated that he had, at which point I advised him, “Sir I am a customer of this bank, please do not tell me that I am a liar, or insinuate that I am stupid.” I went on to tell him that his condescending speech and attitude were insulting and that I certainly did not expect that from Wells Fargo.

Speaking to Ms. Williams, I said, “Is this some kind of new initiative to chase away long term customers?” “I am going to go home and think this through. I may not have an account at this bank tomorrow.” Ms. Willams said that she, “certainly hoped I would (still have an account).”

I am unhappy with the treatment I received, but I’ve been a Wells Fargo customer for many years and have numerous automatic payments which are deducted from my account each month. It would be very burdensome to establish an account with another bank and change all of the payment agreements; otherwise, I would have closed my account that instant.
Why Wells Fargo needs to know how many shares I have in a particular mutual fund is beyond me. Why Wells Fargo requires this additional documentation when the mutual fund companies themselves do not is a further mystery.
What I do know for certain is that if Wells Fargo would like to see an exodus of customers, they should hire more people like Mr. Shah. Mr. Shah is clearly a very well educated and intelligent person. He is polished and professional in his demeanor, his hair is neatly cut and combed, his clothes are crisp and clean, even his nails are properly manicured. I am confident that his reports and documents are flawless, but he has no concept of customer service.


* this reviewer has be with this bank for >10 years
* this reviewer had 3 - 5 banks before.
* this review was made on Wells Fargo Bank, Conifer Branch at Conifer, CO
20 of 20 people found this review helpful. Was this review helpful to you? Yes, No   Report Abuse

2 comments. Add a comment