Re:5,300 Wells Fargo employees fired for creating over 2M ph...
by stevep98 on Thursday September 08, 2016 @07:37PM
(#12458438)
This is true. A good friend of mine works at Wells Fargo, and has moved up the ranks from banker up to regional manager.
I never understood the pressure he was under to open new accounts. Not new customers, just new accounts for existing customers. For example, a new savings account to split your savings up into long term, vacation, college fund, home improvement.
As a banker he was supposed to open 40 new accounts a week, bare minimum.
One theory I had is that if you spread your money around like this, you're more likely to go below the minimums required, so therefore more likely to incur fees.
I never understood the pressure he was under to open new accounts. Not new customers, just new accounts for existing customers. For example, a new savings account to split your savings up into long term, vacation, college fund, home improvement.
As a banker he was supposed to open 40 new accounts a week, bare minimum.
One theory I had is that if you spread your money around like this, you're more likely to go below the minimums required, so therefore more likely to incur fees.