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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.

Review about: Wells Fargo Loan.

Monetary Loss: $4.

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Anonymous
South Jordan, Utah, United States #1247001

They are still as crappy at this as ever. Be warned. You have to get your payment in a week earlier than your plan administrator tells you, if your are dealing with a plan termination or employment termination issue.

Anonymous
#1159668

Same crappy service as always from the banking cartels

Anonymous
#1129907

Sounds like poor planning on your part. A little immaturity also

Anonymous
to Anonymous Chicago, Illinois, United States #1346011

Amen to that.If their policy is 5 to 7 business days then thats what it is.

If you had all your ducks in a row, you would know that. Patience is a virtue for mature adults.

We are in the process of paying current loan to reborrow.

I made sure I had all my T's crossed and I's dotted.Didn't go into it ignorant.

Anonymous
#1021444

So how many days total did you have to wait in the end? I'm in the same boat, biting my fingernails to the extreme in the process.

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