So I went to take a loan out of my 401k, however, I had to pay off my existing loan first. Fine, I got the cashiers check and sent it to the correct address.
Come to find out, it takes one of the largest entities in banking 5-7 BUSINESS days to clear a check...... Come on Wells Fargo.... What are you doing with the money? Now I can't go on vacation and pay some existing debts off like I had planned.
THE ONLY WAY IT SHOULD TAKE THIS LONG TO CLEAR A CHECK IS IF WELLS FARGO MAKES AN EMPLOYEE WALK THE CHECK TO THE ITEM PROCESSING LOCATION. I work in Item Processing for a living and could clear this item in 2 days max.
Thanks for ruining my vacation Wells Fargo, my advice, if your company makes your retirment services through Wells Fargo, do not contribute, take your money and invest in an IRA.
Product or Service Mentioned: Wells Fargo Loan.
Monetary Loss: $4.