Fees on Post-dated check

Thank you for your concerns regarding Wells Fargo

customers. I am submitting this complaint against

Wells Fargo Bank.

I wrote a check of $330.04 and clearly indicated its

date as 02/28/2007. My account was in a position to

cover it only at the posted date, but Wells Fargo

honored the check on 02/12/2007, two weeks earlier

than the posted date. This resulted in my account to

be charged $141.00 in a period of 4 days. It is my

impression that Wells Fargo upon being represented a

check either automatically or as hard copy has to

verify the amount, date, and name it is written to. I

believe these are some of the red flags that have to

reviewed in fighting fraud. The Wells Fargo response

below shows that its automated means that it relies

on does not capture a check dated year 2005 or 2007

even if we are in March 2005; thus putting customers

at greater risks.

G. T.

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Below is the Well Fargo Bank Response:

Thank you for your inquiry regarding the processing of

post-dated or stale-dated checks. In general, banks

process checks by automated means, relying upon check

information contained in magnetically encoded

information found at the bottom of the check - MICR.

The check date is not part of the MICR encoded

information. As a result, a bank will pay or return a

check without regard to the date written on the check.

As discussed in the Consumer Account Agreement, a

"stop payment order" is used if you do not want a

check paid or to give the bank notice of a post-dated

check. To be effective, a stop payment order must be

received by the bank in a time and manner that gives

the bank a reasonable opportunity to act on it. A stop

payment order is valid for six 6 months and must be

renewed if you do not want the stop payment order to

expire. Each renewal will be treated as a new stop

payment order. For post-dated checks, it is your

obligation to remove the stop-payment order once the

check is no longer post-dated. The normal Stop Payment

Fee will apply to each order.

Thank you for banking with Wells Fargo.

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