This is just the beginning. Banks are preempting what they know will soon come. Wells Fargo is not the only ones doing it.
Make no mistake, it is a sign of times to come.
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FWIW I also bank with Wells Fargo as well as other institutions with my business. We have noticed just this week reduced transfer limits as well as additional days to clear funds. Keep in mind this is a business account and now our 30 day maximum limit from Wells Fargo to Chase is capped at 15k which is bonkers for a business. Our daily transfer limit has also been capped at 10k. There are severe controls in place at WF to reduce the risk of capital flight.
https://twitter.com/StealthQE4/status/1638048347599650817?s=20
This is just the beginning. Banks are preempting what they know will soon come. Wells Fargo is not the only ones doing it.
Make no mistake, it is a sign of times to come.
#[0]
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