Is Wells Fargo vSafe a Real Service?

I recently got a letter from Wells Fargo offering me six months of their Wells Fargo vSafe Base Plan for free. Basically from reading the sales pitch, it sounds like I get to upload 1GB of files to their “secure” system, where I can access it anywhere.

When I first received it, my instant reaction was “say what?” How does this relate to banking?

Okay. I can see how this is sort of the same thing as a safety deposit box, but being an IT person by training, this doesn’t make sense at all.

Why are the normal online storage options not as safe?

Upon reading further, I find some features of the vSafe worthwhile:

  • Advanced Access – As an additional security measure, the system will text you a code to your phone where you will need to enter along with your password.  No phone, no access.
  • Convenience – If Wells Fargo documents (like your account statement etc) are important to you, then you can have them automatically sent to the account.  While I don’t see why you can’t just go to your online account to access the same information, I guess this is an added convenience.

That seems to be it from your normal online storage options.  There is a six month free trial though so maybe I shouldn’t complain about anything that’s being offered free.  What I don’t get in this day and age of “free everything online” is why I should be charged to store files online.

Maybe I’m just spoiled by Google.  As a side note, I haven’t even want to check how much this service from Wells Fargo is because anything more than $0 is probably too expensive for my taste.

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