Wait. The bank can just confiscate her money?
WTH?
Does she get her money back?
Refusing to take the account in the first place might, just maybe be defensible as the voluntary actions of a non-governmental business. But, the counterargument would be that a bank is a public financial utility, and therefore a public accomodation that must not discriminate against its customers. You know, like a baker.
But, worse than refusing to take the account is cutting it off without warning for obscure (i.e., political) or potential illegal activities. Stranding someone without warning is unconscionable, and should be against public policy.
Wow if a bank can do this arbitrarily we need to put a stop to it.
There has to be more info.
They can’t just shut her down and not give her her money
I don’t get why anyone would use one of those big banks for a personal account. Local credit union is sooooo much more reliable and safe.
Every Financial Institution in America is on very Shaky Financial Ground, if only 10% of Wells Fargo depositors began Closing thier Accounts and Withdrawl thier funds in CASH, within 24 hours the Bank will be declared INSOLVENT by the Regulators and they will be CLOSED.
See Fiat Currency and Fractional Reserve Banking, then look up Continental and IndyMac
Wells Fargo was one of the banks who most heavily invested in Black Lives Matter.
I’ve been stuck on the road THREE TIMES when the bank froze my account.
Twice, it was caused by the merchant running the charge through twice in error: “Oh, you get those funds when the transaction clears.” It’s Saturday night. The transaction will clear Tuesday. I’m 100 miles away from home with 2 gallons of gas in my tank.
Most recently I was travelling and 3000 miles away from home, when my credit card was frozen - because of suspicious activity - namely me renting a motel 3000 miles away from home. They made me do a kabuki dance to prove my identity, and because (1) the information I gave them didn’t match EXACTLY with their records, and (2) they wouldn’t tell me what information they did have in their records, they wouldn’t release my card.
Next time I am going to have 2 cards, and from different banks.
Anyway, banks suck. They just do.
Wells Fargo is not a trustworthy bank.
Everyone should remove their money from this bank immediately and close their accounts.
Your money is not safe there.
May I suggest that the employee (s) at Wells Fargo who did this, to go and reproduce asexually.
5.56mm
I don’t get it.
When I’m out of state I take a fair amount of cash to get me through and I have credit cards from more than one financial institution. It wouldn’t matter if I couldn’t get to the money in my bank. (Also I have money in more than one bank just in case something goes sour with one.)
On the other hand, maybe she relies on ATM’s that draw from her bank account. I don’t use ATM’s so I don’t know about that. If so, not letting her have access to her money through the ATM isn’t right.
I’ve dealt personally with Wells Fargo when it gobbled up my account at Wachovia Bank which gobbled up my original account at AG Edwards.
AG Edwards was never a problem to deal with.
Wachovia was ok.
Wells Fargo was a nightmare. Account rep I had to deal with tried to stall closing an account. Eventually had to threaten legal action.
Political affiliation, except membership in recognized terrorist organizations, should be protected.
CHOKE POINT!!
.
If this is true, it is not good, not good at all!
Wells Fargo has been one of the few banks I’ve continued business with, as others (CitiCorp, Bank of America) have given in to wokeness and, particularly, anti-second Amendment sentiments. If they’re now going this route, attacking conservative issues and pushing wokeness, I’ll have to end my 40+ year relationship with them, and recommend everyone else do the same.
Yup, they can close her account but they can’t keep her money...unless the remaining balance is so small that it only covers the balance that she owes for having the account. I’ll bet that we don’t have all the facts in the case.
That being said, W-F is famous for jacking clients around and making up stories about “requirements” that they have to access your funds.
Give me a break. Where did the money go is right! Now YOU ALL KNOW how Bitcoin works!
This is a lesson that all should heed. Namely, travel with credit cards and cash in your pocket and do not relay upon bank debit cards or smart phones to pay the bills.