Stick with the devil that you know
I've banked with WF since the early 1980's. For the last 10-20 years I was certain the ATM daily limit was 310 and the purchases limit was 5000.
Yet today, they declined a transaction (a bill I was trying to pay over the phone interactively with a *person*) and after a few minutes, I got an email and text message saying declined due to exceeding the daily limit, and to sign on to review.
I went online, and there was only 4,400 outstanding purchases, and nothing showing the declined transaction NOR the limit amount itself.
36 minutes on the phone and they can only say that there is no place for any consumer to view the daily limit, it is internal to their system. They could not explain why my limit was lower/different than before/what I remembered.
ANY LIMIT function imposed on all consumers accessing their OWN MONEY should be clearly displayed somewhere....
the website for online banking seems like the right place.
Are there any laws about banks needing to notify/post notice to consumers about their "internal-only" (secret) limit they are subject to? Perhaps it could save others from frustration and embarassment I was subjected to today.
Preferred solution: Display the daily limit information clearly on the account page of online banking.
Wells Fargo Pros: Fast website, Text messaging received quickly.
Wells Fargo Cons: Sneaky and living in the loopholes of current laws.