State of CA Employees – Get Rid of Wells Fargo Now!

If you’re a State of CA employee and are fed up with waiting for Wells Fargo to post your direct deposit, you’re gonna love this.

Let me give you the summary of why I made the switch from Wells Fargo to Golden1 NON-PROFIT credit union.

  • I get paid once a month at the end of the month.
  • If payday is on a Friday, I “might” see the direct deposit in my account on Saturday, but maybe not. That means it won’t post until Monday. I had to change due dates on a number of my bills just to accommodate that schedule.
  • If Monday is a holiday, I don’t see the deposit in my account until Tuesday. It’s happened several times.
  • Prior to direct deposit, when I manually deposited my check, I was only allowed $100 of it until the deposit was verified.

So I asked people at work for direct deposit recommendations and who they were using for a bank. It was a resounding “Golden1 Credit Union”. So I signed up. And no, I don’t get rewarded in any way for saying this other than the pure satisfaction of seeing another unhappy customer kick Wells Fargo to the curb.

At Golden1

  1. I wake up on payday and I already have access to the money in my account. That, alone, is worth the switch.
  2. Interest rates on loans might as well be 0% because they are soooo stinking low.
  3. Credit card interest is very low, especially if you have good credit.

So yesterday I got a letter from them explaining why my paycheck gets posted so fast. Because I am a State of CA employee, I get what they call a direct deposit accommodation. They anticipate my check is going to be the same as last month so they front me the money. All of it, not just $100. Then when the real deposit posts, they subtract what they posted in good faith. All I know is that I’m not waiting to get paid.

I told Wells Fargo to close my account and gave them all the reasons why I’m leaving. As one final last stab at me, they sent me an email via their secure messaging thingy. To read it, I had to log into my account. Couldn’t do it because they closed it. It was bitter sweet only because they got the last laugh, but in the end I am FINALLY rid of them. The only reason I stayed with them way too long was because they were close to my house. Golden1 is on the direct path on my way home from work and one on the way to my grandson’s house.

Interest rates on loans? I’m not going to quote rates because they fluctuate, but they are soooo low, my jaw literally dropped open. I’m not car shopping, but never again will I use dealer financing.



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