wells fargo business credit card
Now that Wells Fargo has been forced to pay a $17.7 million penalty by the New York state attorney general for allowing its customers to use a phony business credit card to purchase goods and services in transactions that weren’t authorized, should we be concerned that Wells Fargo is still using a phony card? I don’t think so.
The Wells Fargo account was probably an honest mistake, although it’s possible that a certain number of customers were using the card in violation of the law. Wells Fargo has a history of customer errors, but to use a phony card? You would think they would have learned that lesson by this point.
When you go to a bank and see a debit card, you can’t change it. But Wells Fargo is a fraud, and it makes you wonder why they didn’t show it to you.
If Wells Fargo were trying to use a phony card, they would have needed to have a really good reason for it. Wells Fargo would have had to have a really good explanation for why they are making customers go through the trouble of re-creating a fraud on themselves. It also seems odd that someone would want to change a debit card they have no control over and have it be a fraud.
This is the very reason that Wells Fargo got their cards pre-approved, so that they could then use them for a debit card. So Wells Fargo would have had to have some really good reason for having a customer that has no control over their account change their debit card. If this is even a valid reason for changing a debit card, Wells Fargo would have had to have a really good reason for doing it.
Wells Fargo is a large bank, so they probably know that it’s possible to make a debit card look like a credit card. So they could have said, “we know it’s possible, but we want you to be using it to make a debit card that looks like a credit card.” That’s a pretty clever way to give your customer no choice but to use their debit card for a credit card.
Of course, Wells Fargo does not actually say this, but if they want to keep doing business in the United States all they have to do is just make a really good reason for doing it. And this is certainly not all it takes to convince a bank to do things.
A lot of times it seems that banks and credit card companies try to convince people they’ve got a better deal. We’ve seen a few such cases, but sometimes it’s just that banks are afraid to do things.
Wells Fargo is a big company full of big, fancy buildings and fancy people. And you can bet that its not afraid to put its customers’ money in its own coffers. And that the people behind Wells Fargo are not necessarily afraid to put their money in banks.
Wells Fargo has been in our lives for a few years now, and its business has always paid off. But this new business credit card? We can only hope that people arent so stupid, or just plain lazy, as to not realize the danger. It says: “We’ll deposit your hard-earned money in our account before you can even use it. But we don’t want you to lose your money. You’ll have to make the necessary arrangements to get your money back.
