Savings program from Wells Fargo is anything but

Photo: RLHyde

Are you looking for an easier way to meet your savings goals? Here’s a product you can skip.

Wells Fargo’s Way2Save program is supposed to help consumers by automating savings.

The Way2Save account automatically transfers $1 from your Wells Fargo checking account to your linked Wells Fargo savings account each time you make a debit card purchase, pay a bill online through Wells Fargo Bill Pay or make an automatic payment from your checking account when you sign up for Save As You Go transfers.

However, this product is more likely to harm consumers than help them for three big reasons. Find out what they are in my Interest.com article, Savings program from Wells Fargo is anything but.