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Wells Fargo checking
Old 01-22-2017, 10:51 PM   #1
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Wells Fargo checking

Kind of a stupid question.

I opened a Wells Fargo checking account when I was 16, so my father was listed on it since I was a minor. We have kept it that way throughout college because there never seemed to be a reason to change it. Now that im 30 years old it seems rather silly that he still is listed on my account and can view my spending habits. I asked a Wells Fargo branch to remove him from the account, but they said there is no way to do that without us both being there together. It makes sense, but odd at the same time to me. I don't think he can withdraw money from it and I've always could change the status of my account, switching from regular checking to college student checking back to regular checking, etc.

So I guess my main goal was the passive aggressive approach of just changing it on my own. Since that failed, I could just start a new checking account but I would have to change a lot of financial things that are linked to the old account number. Would just telling them to close down my savings account and take the checking down to the minimum limit convince them to change it for me?

I have a fairly good relationship with my father, just dont think its any of his business that I go to a vape shop, buy a new computer, or how much my airfare is, etc
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Old 01-22-2017, 10:58 PM   #2
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How many things do you have hooked up to this checking account ?
Personally I'd just open a new one, put some money in it, link your things to it, and wait a month or two until you are sure everything is using the new one, and then transfer the remaining money and close the old one.
This would be clean.

On the other hand, does he even look ?
Set the mailing address to you, and the email address to you, and change the password, and unless he walks into the bank, it is yours.
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Old 01-22-2017, 11:58 PM   #3
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Given all the news about what Wells Fargo feels OK doing to its customers, I'd withdraw all my money and move it somewhere else, and then close the account (and any other accounts they've opened for you)!
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Old 01-23-2017, 01:37 AM   #4
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Originally Posted by Sunset View Post
How many things do you have hooked up to this checking account ?
Personally I'd just open a new one, put some money in it, link your things to it, and wait a month or two until you are sure everything is using the new one, and then transfer the remaining money and close the old one.
This would be clean.

On the other hand, does he even look ?
Set the mailing address to you, and the email address to you, and change the password, and unless he walks into the bank, it is yours.

I dont have a lot linked to it. Just payroll check, paypal, electric bill, vanguard.

He can see my checking account summary on his online banking account. But he cant see my savings account because I opened that one on my own.

I know he looks from time to time, because several years ago wellsfargo was charging me like $1.50 a month for their quicken books information, that my father used but they some how charged my account every month. He told me why, when I was too lazy to call and ask, thus had been looking or keeping an eye on it.

We are both very frugal with our spending, so its not a huge deal. I just assumed I could take him off my account and was wondering if anyone had info about that without actually bringing the topic up with him.
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Old 01-23-2017, 02:54 AM   #5
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Quote:
Originally Posted by Tykimeister View Post
Kind of a stupid question.

I opened a Wells Fargo checking account when I was 16, so my father was listed on it since I was a minor. We have kept it that way throughout college because there never seemed to be a reason to change it. Now that im 30 years old it seems rather silly that he still is listed on my account and can view my spending habits. I asked a Wells Fargo branch to remove him from the account, but they said there is no way to do that without us both being there together. It makes sense, but odd at the same time to me. I don't think he can withdraw money from it and I've always could change the status of my account, switching from regular checking to college student checking back to regular checking, etc.

So I guess my main goal was the passive aggressive approach of just changing it on my own. Since that failed, I could just start a new checking account but I would have to change a lot of financial things that are linked to the old account number. Would just telling them to close down my savings account and take the checking down to the minimum limit convince them to change it for me?

I have a fairly good relationship with my father, just dont think its any of his business that I go to a vape shop, buy a new computer, or how much my airfare is, etc
As Sunset said, just open a new account (it can even be at a different bank); switch all the auto stuff to it, and after you have completed the switch (wait a few months), close the Wells Fargo account and move the balance to the new account.

BTW, as for the automatic ACH transactions, you should keep a record of them in case you switch accounts again -- this allows you to notify the merchants of the new account information.

The same would apply for credit card accounts that have periodically repeating charges against them. Keep a record of them; at some point you will want to change credit cards for one reason or another.
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Old 01-23-2017, 04:00 AM   #6
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Dad, because of Wells Fargo problems I'm opening a new account elsewhere...
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Old 01-23-2017, 04:15 AM   #7
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Some banks will give you an incentive to move--say, $100--or, you could tell dad that the new bank is closer to your work/home.
On the other hand, if I were 30, I'd say Dad, time that all my accounts are in my name only and that's what I'm going to do.
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Old 01-23-2017, 05:44 AM   #8
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Some banks will give you an incentive to move--say, $100--or, you could tell dad that the new bank is closer to your work/home.
That's what I did, opened a Chase Checking and Savings account, got a $500 bonus, and closed by Wells Fargo accounts. Just tell pops you're going after the bonus.
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Old 01-23-2017, 06:15 AM   #9
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Heck, if you want to stay at Wells, then just ask Dad to go in and remove himself...


We will see what we need to do with Chase in a few years as I am on my son's account!!! We still need me on so I can easily move money when I see him getting low.... still at college...
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Old 01-23-2017, 06:25 AM   #10
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Originally Posted by Tykimeister View Post
Kind of a stupid question.

...

Would just telling them to close down my savings account and take the checking down to the minimum limit convince them to change it for me?

...
I seriously doubt it. He's on the account, so he'll have to agree to be removed. The account balance isn't a factor. You probably can close it on your own, but I'm not certain about that, and it may vary by bank. And watch out for more fees if you take the account down to the minimum.

My advice is to decide where you want your checking account, and take some real control of your life and make it happen, whether that means getting your dad to sign something or go in with you, or closing the account and opening a new one.
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Old 01-23-2017, 07:02 AM   #11
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If your dad were sued or had any judgement against him, the money in your account can be seized or frozen. I know you think this would never happen...until it does. Get your own account.
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Old 01-23-2017, 07:36 AM   #12
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You really need to close that account and open a new checking account--either at Wells Fargo or another bank. I too use Wells Fargo as I've had no problems with their checking and have a $10K overdraft provision that allows me to pay little attention to my daily balances.

But the biggest reason to open a new account is to avoid cross collateralization of your accounts. If you bounced a bunch of checks, they could immediately seize any savings accounts AND your father's checking and savings accounts if they're with Wells Fargo. And it's also best not to borrow any $ from any loan institution you have any loans with--again for cross collateralization. They could attach your car for the equity in it.

In other words, it's often best to keep loans, savings and checking accounts in different places. And at 30 years old, Ole Dad doesn't need any potential liabilities on you as you now stand on your own.
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Old 01-23-2017, 08:04 AM   #13
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I have banked with Wells Fargo for over 35 years with zero problems until this month. They failed to take the January payment out for the HELOC, despite a written comment on the December statement to the contrary, when it rolled from the fixed rate to the variable rate draw. I have called and been to the branch twice. Got the extra principal payment applied, but the January payment which was supposed to be forced, disappeared into the ether. Not happy with the amount of effort I have expended with no resolution.

Will I dump Wells Fargo after this debacle? The quality of staff in the branches continues to deteriorate. However, things are not any better at Chase or B of A. If the problems cascade, I will leave. Otherwise, I'm probably just going to live with the poor customer service that is becoming the norm with the retail side of banking.
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Old 01-23-2017, 08:24 AM   #14
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I switched to WellsFargo from another, much worse, bank last year. So far I've really liked WellsFargo; the branch I walk to is super friendly with an emphasis (you can really see this) on a diverse staff. After the WellsFargo debacle I am careful to scrutinize all my accounts but so far--no problems at all. I have savings, checking, HELOC, and mortgage with them. HELOC will be paid off next month; mortgage has a few more years.
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Old 01-23-2017, 08:31 AM   #15
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Can't they provide you with a form for both of you to sign versus physically going to the branch?
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Old 01-23-2017, 08:34 AM   #16
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Kinda makes sense since you were a minor at the time the checking account was established.

Since you have a fairly good relationship with you dad, you can tell him "Remember that old checking account you helped me set up when I was 16, I've grown out of it and can have one on my own now. How about we go to the bank and take care of this? Thanks and the "beer" (or lunch if he doesn't drink booze) is on me".

If you don't feel comfortable with that, you can do what others have suggested about opening another account and then transferring.

About a year ago, I switched over (well, didn't cancel but now have very little in) my old checking account from one bank to a Discover online checking. There were several automatic transactions attached, but the setting up I didn't feel to cumbersome. Make a good list of the automatic transactions and check off when completed.
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Old 01-23-2017, 08:51 AM   #17
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Originally Posted by Tykimeister View Post
I have a fairly good relationship with my father, just dont think its any of his business that I go to a vape shop, buy a new computer, or how much my airfare is, etc
Have you asked him? Perhaps he would like to be off this account. Also, I don't think a 16 year old needs a parent on his account. I have two sons that started earning and living on their own at 16, I was never on an account with either of them after they were away from home, but still minors.

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Old 01-23-2017, 09:31 AM   #18
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Assuming you are happy with WF, just ask your dad to go in with you and take his name off the account. Saves a lot of hassle and potential fees (e.g. if you open a new account and can no longer meet the minimum requirements for both.) I left WF years ago when their requirements for a free checking account became too onerous. They wouldn't even take into consideration that I had my mortgage with them! I went the Credit Union route for awhile but then they instituted a complex new system for keeping a free account and with their limited branch network, no drive through tellers and marginal online banking, I changed to Chase. Got my $300 bonus too!
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Old 01-23-2017, 11:19 AM   #19
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I am a parent that has access to all my adult children's accounts from the account beginning. I keep telling my kids I can see everything and they should probably remove me. I don't keep tabs but it is hard not to see their balance when I log in. Okay, I admit, there have been a few times I looked at the activity just to know they were alive.

What are their reasons to keep me on their accounts? Not sure. Is it a way to force themselves to be more accountable? Or do they foolishly hope that I will transfer them money from time to time. HaHa.
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Old 01-23-2017, 12:51 PM   #20
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Here's another reason to clean it up. Odds are you'll outlive Dad. It can get complicated to access $$ in a joint account if you're the Survivor- not sure how your particular account works. I know that when DH died and left an account only in his name, the bank contacted me a couple of weeks later. (Must have tapped into the SS death records.). Twice I've had to complete paperwork, which I did promptly. Two months later, they still haven't sent me the funds.
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