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Wells Fargo Bank, PARK WEST PLACE BRANCH
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| Name: | Wells Fargo Bank |
| Concentration: | All Other Over 1 Billion |
| Established: | 01/01/1870 |
| FDIC Insurance: | 01/01/1934 |
| Holden By: | WELLS FARGO&COMPANY |
| Charter Class: | Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC) |
| # of Branches: | 4350, view all, view on map |
| Website: | www.wellsfargo.com |
| Total Assets: | $1,733,244,000,000 |
| Total Deposits: | $1,416,886,000,000 |
| Total Equity Capital: | $162,969,000,000 |
| Total Domestic Office Deposits: | $1,392,417,000,000 |
| Net Income: | $21,994,000,000 |
| Quarterly Net Income: | $3,956,000,000 |
| Return on Assets: | 1% |
| Quarterly Return on Assets: | 1% |
| Return on Equity: | 14% |
| Quarterly Return on Equity: | 10% |
| More... | |
Client Review
862 client reviews of Wells Fargo Bank scored 2 out of 5.
Not Knowledgable
Overall Rating
Interest Rate and Cost
Office Environment & Staff
Waiting Time
Other Services
by Consumer3, Mar. 07, 2012
I've had good customer service for the basic stuff but Wells staff need better training and communication for the more complex financial transactions. My elderly father's IRA CD had matured and was facing rollover to an extremely low %rate. The staff talked us into putting it into a high yield savings account. AT NO TIME did they state that this action would result in a GROSS distribution of his IRA. I assumed (wrongly) that we were just maximizing a better interest rate in a different savings vehicle but were keeping the funds in an IRA. Unfortunately, I did not realize our error until I received his 2011 tax paperwork from Wells Fargo regarding the gross distrition. Why the heck would we chase a minor interest yield difference of less than 1% versus a tax rate of 25% "income" on a $30,000 distribution? It's a huge red flag! Not once did Well's staff explain that he would be cashing out his IRA. Not once. Well, needless to say we are moving the bulk of his money elsewhere. I'm pretty upset by their lack of knowledge or lack of candor, whichever it is.
* this reviewer has be with this bank for 3 - 10 years
* this reviewer had 3 - 5 banks before.
* this review was made on Wells Fargo Bank, Park West Parkway Branch at Stockton, CA
1 of 1 people found this review helpful. Was this review helpful to you? Yes, No Report Abuse
Overall Rating Interest Rate and Cost Office Environment & Staff Waiting Time Other Servicesby Consumer3, Mar. 07, 2012
I've had good customer service for the basic stuff but Wells staff need better training and communication for the more complex financial transactions. My elderly father's IRA CD had matured and was facing rollover to an extremely low %rate. The staff talked us into putting it into a high yield savings account. AT NO TIME did they state that this action would result in a GROSS distribution of his IRA. I assumed (wrongly) that we were just maximizing a better interest rate in a different savings vehicle but were keeping the funds in an IRA. Unfortunately, I did not realize our error until I received his 2011 tax paperwork from Wells Fargo regarding the gross distrition. Why the heck would we chase a minor interest yield difference of less than 1% versus a tax rate of 25% "income" on a $30,000 distribution? It's a huge red flag! Not once did Well's staff explain that he would be cashing out his IRA. Not once. Well, needless to say we are moving the bulk of his money elsewhere. I'm pretty upset by their lack of knowledge or lack of candor, whichever it is.
* this reviewer has be with this bank for 3 - 10 years
* this reviewer had 3 - 5 banks before.
* this review was made on Wells Fargo Bank, Park West Parkway Branch at Stockton, CA
1 of 1 people found this review helpful. Was this review helpful to you? Yes, No Report Abuse
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