Here's the proper way [year] to close your Wells Fargo account in the United States.

There are a number of factors that could lead you to decide to terminate your bank account. Even though traditional banks advertise their checking accounts as "free," they often hit customers with surprise fees down the road. To give another example, it's not uncommon for financial institutions to advertise attractive returns on investments and savings accounts, only to reveal that the high fees associated with those returns make them less attractive. However, some financial institutions purposefully make life difficult for immigrants. Since you've found a more convenient banking option, you've decided to switch.  

One way or another, you've found this page because you want to know how to terminate your Wells Fargo account. Thankfully, we have figured it out. But before you rush in and shut it, make sure you're ready to do so. Don't put yourself in an inconvenient position where you need to make or receive payments but don't have a bank account.

Here, we'll walk you through the steps required to close your Wells Fargo account, as well as offer some helpful pointers to make the process go as smoothly as possible.   

Can a Wells Fargo Account Be Stopped?

Absolutely Actually, it's also pretty simple.  

It's not necessary to have a specific bank account for the rest of your life. It's possible that closing an account with one bank is more difficult than doing so with another. However, you should be able to close any bank account without incurring any fees or other consequences.  

In a moment, we'll walk you through the process of closing your Wells Fargo account. Prior to actually closing your account, there are a few things we need to go over first.  

Steps to Take Before Deactivating Your Account

Several things must be done before you can close any bank account, including your Wells Fargo account. These aren't stipulations imposed by the financial institution, but rather precautions worth taking to avoid sticky situations.

Please follow this guide before closing your Wells Fargo account:

• You should open a new bank account before closing your old one for reasons that will become clear in a moment.  
• Tell your employer or clients (for example) to transfer the next payment they owe you from Wells Fargo to your new bank account if you are currently having salary or other payments deposited there. Do this at least a week prior to when you expect to be paid.  
• Transfer all automatic payments and online subscriptions from your old Wells Fargo account to the new one. Expenses such as water, electricity, and rent are included. Also included are any add-ons to your current monthly bill for things like Spotify or Netflix. Of course, it's not necessary to keep a running mental tally. Seeing which charges to transfer is as simple as reviewing your monthly statement. Make the transfer at least 15 days before the deadline.  
• It's not a bad idea to double-check your semi-annual and annual payments every once in a while, as well. Some, for instance, take place only once every four months or a year. You definitely don't want to forget about them and have them try to charge it to an invalid bank account. You should try to keep track of these (there shouldn't be too many) and transfer them to your new account.  
• If you haven't paid a bank fee or have a balance that hasn't been cleared, you may want to do a balance check. If so, pay off the balances. As we'll discuss below, failure to do so could negatively impact your credit rating.  
• Finally, once you've finished the aforementioned tasks, you can transfer any remaining balance (i.e. e to your new account (e.g., the balance from your old Wells Fargo account).  

You've finally got everything in order to shut down your bank account. Let's take a look at the steps necessary to close your Wells Fargo account.

Wells Fargo Account Closing Procedures

A Wells Fargo account can be closed in one of three ways. What follows is a brief examination of each  

1. Online

A Wells Fargo account can be closed in this manner, and it's likely the simplest option. You can find the Contact Us page by signing into your online banking account with Wells Fargo. After that, you can close your Wells Fargo account by sending an email requesting that it be done. If you maintain a zero balance and request closure of your account, you should receive a confirmation email within a few days. However, if you didn't, they may ask you to clear the account or pay off any negative balance before they can close it.  

Go to a Branch

Close your account in person at any Wells Fargo location. Contact a customer service rep and request that your account be closed. You'll need to bring identification, proof of address, and any necessary PINs or passwords in addition to your social security number.  

During a Phone Conversation, Number Three

The Wells Fargo customer service number is 1-800-869-3557, which you can call if you are unable to visit or access a branch. Over the phone, you can put in a request to have your account terminated. Prior to fulfilling your request, they must first confirm your identity. The help desk agent will walk you through the procedures.  

What Happens to Your Credit Score When You Close a Bank Account?

Eliminating a bank account has no effect on credit rating. Credit reporting agencies are unable to report on your banking activity because they do not have access to your financial details.  

A negative overdraft balance on your account, however, can have a negative impact on your credit score if it isn't paid back quickly. Collection agencies will be contacted regarding this outstanding balance. The credit bureaus receive this information from these organizations, and your score changes as a result.

If you want to avoid this, you should always settle your overdrafts as soon as possible. Don't close your bank account with a negative overdraft balance and ignore the payment requests if you care about your credit score. When you close your bank account, any negative balance will remain even if you have a positive overall balance. A bank like Wells Fargo is not going to close your account just because you have a negative balance. You will still be responsible for making payment on this debt, and it will negatively affect your credit rating if you ignore it.  

Read More

Conclusion

You've gained the knowledge necessary to terminate your Wells Fargo account. As a bonus, you know exactly what steps to take before closing your account. If you just follow the simple instructions above, you'll be completely free of your Wells Fargo account in no time.  

In Search of a Loan Three Easy Steps to Obtaining One

Here are the three steps you need to take to apply for a personal loan.

Apply

Submit an online application for the loan amount you require Please submit all necessary paperwork and your strongest application. Better loan offers are extended for applications that show greater promise.

Accept

There will be further communication with the lender if your application is approved. Don't hesitate to add more detail if it's asked for. Your loan proposal is on the way. Promissory notes are sometimes included in loan offers. Please confirm your loan agreement by signing and returning the attached note.

Repay

As soon as the loan is approved, the funds will be deposited into your U. S deposit in your bank account in a reasonable amount of time (a few business days is typical for most lenders). You must now arrange a method of payment. It is possible to set up automatic monthly payments through the website.

Regarding Stilt

Stilt is a lender that helps people from other countries get loans to study or work in the United States. S Visa holders (F-1, OPT, H-1B, O-1, L-1, and TN) at the most competitive interest rates available Stilt's mission is to aid immigrants in establishing stable financial foundations.

We use a comprehensive underwriting method to establish your interest rate and guarantee you the best possible terms.  

Read our reviews on Google, Yelp, and Facebook, or check out our website at https://www.stilt.com to see what people are saying about us. Shoot us an email at [email protected] if you have any inquiries.