My bank isn't shopped all that often -- and when it is the pay is so poor I never do it. I always see these Wells Fargo shops which from a distance seem like they might be easy and pay decently. Would it be profitable if I switched banks so I could shop WF?

Yes, probably not a bad idea. I've done a few WF shops and they are not all that difficult. I also found that PayPal payments show up quicker in my WF account than they do at my other bank account.

Nin,

I would NOT switch. I opened an account with my prime bank in 1963, but also have one with three other banks. Each of these three not only have had shops, but paid me from $400 to $500 for my business. Usually, such a situation requires a direct deposit, but I have always been able to use my time in the Navy as a workaround that rule. The only drawback would be if funds were tight and a person was not able to make the initial deposit.

I would not. My personal opinion. I do have CC via a brand with them. They are the only bank that I know of that does not allow you to schedule automatic payments.

I suggest opening an account with WF for shops, but keeping the account with your current bank. WF usually has promotions for opening an account, too, such as a free $200 if you make so much in direct deposits the first 90 days. Something to consider.

This is my own opinion, but I would never have an account at Wells Fargo again. Several years ago they bought out the bank that I had an account with for 15 years. They managed to loose my savings account,finally found it 6 months after I closed all my accounts with them. They also lost 2 direct deposits in a row. The people that were hired as managers were the most rude people I ever met. According to them it was all my fault that lost my deposits and account.

I like WF. Mostly because I make good money opening accounts with them, but also they are all over the country, so when I'm traveling, it's pretty easy to find a branch or ATM.

But I live in a rural area, where the only other option is a small, local bank with pitiful access, inconvenient hours, and lots of other minuses. Like the President is also my landlord, LOL.

Edited 1 time(s). Last edit at 11/15/2021 06:09AM by ceasesmith.

How about starting a secondary account, for kicks. Just put enough in it not to get charged anything. Also, one of the difficult things about the Wells Fargo shops is getting an appointment! I literally can't ever make an appointment in my town. They will literally never complete a shop here. Perhaps they are short-staffed.

I would keep my existing bank account with another bank and open WF accounts only via account-opening shops. If you can do those shops and get opening bonuses, all the better! Then, depending on how comfortable you are with the other types of WF shops and how satisfied you are with your WF banking experience, you can decide whether to really switch to WF. Of course, try to avoid bank fees.

It used to be really easy to avoid fees with a WF checking account. Now, I have to keep a minimum daily balance of $500 in the account. I have A LOT of bank accounts and the balance requirements can add up!

One word of caution: you may not want to deposit MS checks into a WF account if you want to shop them long term.

I've had my WF account for so long that I'm grandfathered into an account I had when they were Wacovia so I don't have any fees if I use my debit card once per month. I opened that checking account on a shop many years ago. I like doing the teller shops, but they don't come around too often. I opened a savings account on a shop (now I have two) for vacay. I think I need to have a minimum of $300 in the savings a/c to avoid fees. I'm thinking I'll close it after the next vacation and then open another a few months later for another vacay. I don't (won't) do the complaint shops even if they are easy. I just can't do it.

I have four checking accounts. Only two of the banks are currently shopped, but all were opened or used for MS. I had another, but closed it when the MSC lost the account and they no longer are shopped. It was only for MS purposes so I certainly didn't need it.

I would not close my current account if you were to open an account with WF as long as you can afford to meet their deposit requirements.

I'd keep my regular account if I were you and open the WF account just for the MS pay. I closed my account because they no longer had teller shops in my area and there are only so many lost/damaged debit card ones you can do in a short period of time. Those were simple and usually paid pretty well. About all I was seeing in my area were the complaint shops about unauthorized account openings.

At one time I was with three different banks, one for my regular accounts and two for mystery shopping. I still have one for MS, but I'm going to close that because there aren't any teller shops, so there's no way to continue earning money--and I don't have enough extra to stash cash so I won't spend it, which is another reason I keep accounts at more than one bank. LOL.

I opened a Wells Fargo account as a shop a few years ago, keeping my main bank checking/savings accounts. The Wells Fargo is very close to my house so I thought it might be convenient. I planned to do teller shops but I never did and then I stopped seeing them. But I like Wells Fargo and I kept the account. It was before covid so I didn't have to make an appointment, I just walked in and a banker immediately opened the account. I also got their American Express card that I really like and it's my primary card now. I still use my original bank for my direct deposit salary and paying bills, but I use Wells Fargo for all my MS direct deposits and the credit card. I like their online banking and have never gone into the bank except the one time when I opened the account. I also like how easy it is to communicate with them without phoning. I've had 2 disputes on my credit card. I just opened my account and clicked "Open a dispute" and then got a confirmation, then email I was getting a temporary credit, then email that it was resolved. I never had to talk to a human. I like that. I'm too busy to hang on the phone waiting for a call center and I really don't want them phoning me back. Email is great. I agree with everyone about opening a secondary account. It's worked for me and I like Wells Fargo.

PS - I forgot to say, if you choose to do a direct deposit, even a small one, there are no fees. You get up to 60 days I think to set up the direct deposit.

Edited 1 time(s). Last edit at 11/15/2021 04:57PM by roflwofl.

I already had a WF account and have done many shops for them. I get way more money for each shop I do than what I get in interest on my savings account for a year! If you have enough to open an account with the minimum to avoid fees, I'd investigate opening an account there. I don't know if I'd switch banks, though. That's a huge pain in the neck.

By the way, there are pros and cons for having "extra" bank and credit card accounts. On one hand, there are mystery shops (not for the same MSC) for people who are existing customers of certain banks/financial institutions. OTOH, there are also new account opening/application shops (again, not for the same MSC) that require you don't have any account with certain banks/financial institutions.

Someone told me that they opened their Wells Fargo account online, with a small opening deposit. As far as I know, they are not doing mystery shops. I only shared this for people who might open an account with a small amount of money, update their profile to include this bank account, and then complete some of the customers' mystery shops.

What are these things called checks? I must know! (sarcasm)

@cherubino3 wrote:

What are these things called checks? I must know! (sarcasm)

I think they are similar to something called cash. At least that's what I remember.

The Wells Fargo opening shops were easy and paid great. I am considering doing the Bank of America shops, which are similar in pay.

I agree with above:

Most banks offer better incentives than the mystery shop pay. So do those too!

Ultimately I love my credit Union.

I agree with shopperbob and others. Keep your primary account and open a second account with them for shopping. You can have a savings account for $300.

Another option is to open an account for a shop and then close it in 7-60 days to avoid any fees. I've chosen this option for the past few years. I am never questioned by the bankers.

@kenasch wrote:

@cherubino3 wrote:

What are these things called checks? I must know! (sarcasm)

I think they are similar to something called cash. At least that's what I remember.

Checks? Cash? Whaaaat?

Seashells, animal skins, and salt or bust!

I agree with the others..just make sure you have enough stashed to not get the stupid fees. WF isnt ny primary bank, so I always forget until that pesky 10 dollar monthly fee hits.
There teller shops when they are available and the lost debit card is my favorite shops. I personally have had 0 issues with them

As an aside anyone know if any other banks are doing teller shops at the moment?

TD Bank continues to have Drive-thru teller shops.

@dawnhu wrote:

As an aside anyone know if any other banks are doing teller shops at the moment?

This actually is the case with being short staffed. I tried 3 times on three different locations and we have a million branches here. I had to cancel two shops because I was not spending any more time on it at that point. I overheard a conversation from bankers that they had to close multiple branches down and share the employees because they had none at the time. I would say that I really do not remember the appointment thing being this bad before covid. I used to walk in and do these shops. I could be wrong though.

Blast from the past.

I had some starter checks from a new account shop.I tried to use them for a purchase shop. NOPE! The manager didn't know how to process it.

I ended up using one to transfer funds.

@cherubino3 wrote:

What are these things called checks? I must know! (sarcasm)

Don't they do a hard pull on your credit for a new bank acct?

@HonnyBrown wrote:

I agree with shopperbob and others. Keep your primary account and open a second account with them for shopping. You can have a savings account for $300.

Another option is to open an account for a shop and then close it in 7-60 days to avoid any fees. I've chosen this option for the past few years. I am never questioned by the bankers.

At my two closest WFs, they don't answer the phone. I had to make an appt in person. I called them on the phone in-branch while waiting to see a staff member. I saw one person with no customer in person or on the phone. She ignored the phone ringing (my call).

@cherubino3 wrote:

How about starting a secondary account, for kicks. Just put enough in it not to get charged anything. Also, one of the difficult things about the Wells Fargo shops is getting an appointment! I literally can't ever make an appointment in my town. They will literally never complete a shop here. Perhaps they are short-staffed.

No. Some banks use ChexSystems to see if you have had banking problems. ChexSystems does not link to credit scores. I am not aware of any bank which checks with the credit agencies before opening an account.

@CA senior wrote:

Don't they do a hard pull on your credit for a new bank acct?

@HonnyBrown wrote:

I agree with shopperbob and others. Keep your primary account and open a second account with them for shopping. You can have a savings account for $300.

Another option is to open an account for a shop and then close it in 7-60 days to avoid any fees. I've chosen this option for the past few years. I am never questioned by the bankers.

As stated above, you can open a savings account oh, and as long as you keep $300 in it, there will be no fees. You do have to make some sort of activity once a year to keep the account active. But that's easy. You could just put $20 in it and then take it back out later. You can make $65 doing a savings account opening shop. And then you are free to do 3 complaint shops every month either on the phone or in person. I usually do the ones in person that paid between 60 and $70. It's really easy money as long as you are able to keep a straight face when pretending that you're upset about whatever scenario they are presenting at that time. I have also had a couple of cases where my account was deactivated for security reasons because of some of the complaints that I made. I was able to easily get the account reactivated by calling security and explaining the situation. However, I would not want my main account put in that situation. Just open a $300 savings account, make some money while you're doing it, and then be eligible to make even more money every month.

Not at all. You don't use your credit to open or maintain a deposit account.

@CA senior wrote:

Don't they do a hard pull on your credit for a new bank acct?

Honny is correct. No hard credit pull to open a new bank account.