5 Reasons Why Wells Fargo Bank May Send You a FREE Check Soon — #Free Money
Wells Fargo Bank settlement could bring a big payday to millions of Americans! Wells Fargo Bank may soon be sending you a FREE check and there will be only one catch with that. “What’s the catch?”, you may ask.
The answer is that there’s no catch and you can spend that money anyhow you want. It’s your FREE check to keep. #Free Money. Period.
As part of recent, on-going and potentially more future class-action and regulatory settlement arising out of the bank’s improper handling of customer accounts, Wells Fargo Bank may be compelled to mail FREE checks to millions of Americans coast to coast. If you’re one of those affected customers, a free check may be coming your way soon!
Wells Fargo Bank Settlement
Here are 5 reasons why Wells Fargo may send you a free check soon;
- If you are one of 3.5 million customers the bank opened a new account for without permission between 2009 and 2016.
- If you are one of 800,000 customers who were forced to buy auto insurance you did not need between 2012 and 2016.
- If you are one of 528,000 customers who were likely signed up for online bill payment without authorization.
- If the bank opened an unauthorized credit card or credit line and it damaged your credit score, causing you to borrow money at a higher interest rate.
- If you are a victim of the bank’s unfair overdraft practices and you were negatively impacted.
Yesterday, Wells Fargo admitted there were many more customers affected and added about 1.4 million more names to the list of customers who could potentially receive a free check. Since this is an on-going and still unfolding bank settlement, do not be surprised to see probably a million more names added to the list.
Here Are the 3 Best Case Scenarios
According to an analysis by How We Make Money Online, here are the 3 best case scenarios likely to result from this unfolding settlement;
- Scenario #1: Wells Fargo could be forced into a wholesale, blanket settlement for nearly all affected customers. Here, the bank may NOT require stringent or robust proof from customers, meaning nearly all customers may qualify. In this blanket settlement happens, probably 5 million to 10 million impacted customers may be sent a check in one way or the other.
- Scenario #2: Limited Settlement: In a limited settlement, Wells Fargo may require strong and complete proof from customers. Because this event started almost 10 years ago, most unsuspecting customers will naturally have no proof. Which means they will NOT qualify to receive a free check because they have no evidence to back up their claim. The other side of this is that, the remaining “qualified” customers may be left with a larger pool of cash to split. Meaning: bigger checks will hit their mail boxes!
- Scenario #3: The U.S Government represented by the Department of Justice is still in discussion with Wells Fargo on a number of fronts. In this scenario, the bank may be forced into an even bigger settlement, potentially running into billions of dollars. In recent years, several banks reached settlement and paid billions in compensation. If scenario 3 holds true, a far bigger settlement pool of cash will be made available to affected customers and bigger free check could hit their mail boxes.
Wells Fargo Bank Settlement: Our best choice? At How We Make Money Online, we believe Scenario #2 has an 80% chance of happening while Scenarios #1 and #3 have a 40% chance of happening, each.
Who Are the Biggest Winners?
- The U.S Government will come out as the biggest winner of this unfolding bank drama, in any scenario, regardless of the outcome.Ultimately, Wells Fargo may pay tens of millions, potentially billions to the U.S Government to finally settle this drama.
- Lawyers will be the 2nd biggest winners. According to the Los Angeles Times, attorneys at Keller Rohrback, who negotiated the settlement with Wells Fargo, plan to request 15% of the total settlement fund — $21.3 million — as compensation, according to court documents. No matter the final settlement, lawyers will be the 2nd biggest category of winners.
- Home Loan and Auto Loan customers who were affected will be the 3rd biggest winners. They will likely receive bigger checks.
- Checking and Savings account holders affected by this mishandling will be the 4th biggest winners in this case.
Which States Will Benefit Most?
Generally, Wells Fargo’s customers are spread across the entire United States. However, states most likely to benefit in much bigger ways are California, Texas, Florida and other Southern and Western states. The simple answer here is that there are many more Wells Fargo bank customers in those states.
How Much FREE Check Could You Get?
It depends on which of the above Scenarios finally prevails. Scenario #1 above will bring relatively smaller free checks while Scenario #2 will trigger bigger check mail outs. Scenario #3 will be a bigger payday for millions of Americans affected. Which means bigger checks will be mailed out.
“Average” checks in all scenarios could range anywhere from $100 to $500 and even up to $1000 or more depending on the final settlement amount, including Department of Justice settlement and the nature of your bank account with Wells Fargo Bank as analyzed in the above list of biggest winners. This is a good estimate since settlement discussions are still unfolding.
In real life terms, at worst, the free check from Wells Fargo may be enough to pay for your gas station bill for about a month; or pay for your family’s groceries for a couple of months; or at best, pay for your home mortgage or rent for a couple of months (of course, depending on the type of home you have). In any case, this is good money to smile about!
How Long Will it Take to Get Your FREE Check?
Depending on how negotiations go, free checks could hit mail boxes starting in January 2018, according to the Los Angeles Times. More hearings are scheduled and of course government settlement discussions are still on-going. This will determine how soon free checks will be mailed out.
How to Apply
If you opened a bank account with Wells Fargo between 2009 and 2016, you may read more and apply online via this website: WFsettlement.com
How to Get More FREE CASH from Wells Fargo
If you like, you can get even more free checks from Wells Fargo. In another way, that’s is. Because the bank is struggling to attract new customers due to this unfolding drama, Wells Fargo has been doing a number of promotions aimed at enticing customers to open new accounts with the bank.
Free cash bonuses range anywhere from $100 to $250, depending on the customer and type of account. Make sure to get more details from your local Wells Fargo Bank.
For many customers of Wells Fargo Bank, it looks like the odds are high that a free check may be coming to your mail box soon.
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( Sources: story and photo credits: How We Make Money Online, Los Angeles Times, ABC News, Hours Ninja, Yahoo News and all applicable copyright holders and sources)