Wells Fargo Banking Client Since 1997 Has Account Closed with $1,400, Sparks Long Bitcoin Short Bankers Motto
Wells Frago, one of the largest bank in the world, is again on the news after a client claims that the bank closed his $1,400 savings account due to inactivity. A few weeks ago, the company has experienced some issues with online banking, ATMs and even credit cards from users. Due to this situation, the bank has been criticized by the crypto community.
Long Bitcoin Short Bankers
Benjamin Wolf reported that he had $1,400 sitting in a savings account with Wells Fargo since 1997. Mr. Wolf forgot about it until now. However, the financial institution explained that they do not have the funds and that they closed the account after 2 years of inactivity. Since 1997, the user could have made large sums in interest that he now does not have.
He has also explained that the bank told him that the “state has it,” but that he called them and they do not have it. He ended his post with the phrase: Long Bitcoin Short Bankers.
The bank informed him that he only had $9.53 of the $1,400 he had in the past. That represents a loss of 99.64% of his initial deposits and savings. However, the main question is how the account went from $1,400 down to $9 when he should have been getting 2% annually.
Now, the user is still contacting the bank in order to know what happened with the funds he had stored there and how they dropped 99.64% in 22 years. He said that he DMed Wells Fargo in order for them to find out what happened with this money. Mr. Wolf mentioned that people use banks because they are “safe” and that he never felt so cheated before.
Banks are not offering the services they should. This is why users are searching for new ways to keep their savings stored safely using virtual currencies such as Bitcoin (BTC). Wells Fargo commented under his tweet asking him to provide further information on the matter.
Had $1400 sitting in a savings account with WellsFargo since ‘97. Forgot about it til now. They told me they dont have it. They closed it after 2yr inactivity. They told me the state has it. Called the state, they don’t have it. @APompliano Long Bitcoin Short Bankers
— Benjamin Wolf (@BenWolf369) February 27, 2019
Using virtual currencies it is possible for users to store their private keys and keep their funds secure at all times. Only those with access to the private key can access the funds.