Issue date: 4/7/09 Section: Opinion

I'd like to take a moment to point out an error as well as comment on Wells Fargo's business practices. It was stated that the Aggie Bucks Unlimited program will build credit for students after graduation, but this is incorrect. The Aggie Bucks Unlimited program is a checking account with an associated debit card. Debit cards do not build credit; only credit cards or a credit line may serve that purpose. The article also states that the account will feature "overdraft resistance," but such a feature is nowhere to be found on the Wells Fargo Web site. Overdraft protection with Wells Fargo requires that a credit card or savings account is linked to the account; else the company will reorder your transactions in such a way as to maximize profit. For example, if you had $10 in your account and then proceeded to purchase $1, $2 and $10 items, Wells Fargo would make sure that the $10 item is deducted first so that you incur three fees instead of one. Other banks, such as the Aggieland Credit Union, do not have this practice. It is my hope that the vending machines on campus will accept any debit card, not just Wells Fargo.

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