Wells Fargo Bank - Unethical/ Illogical Banking Practice

Posted on Monday, March 3rd, 2008 at 9:33pm CST by 698e01a6

Product: Checking account

Company: Wells Fargo Bank

Location: Platte & Circle
Colorado Springs, Co, 80909, US

Category: Other

Due to an error in my math I used my Debit card to buy gas for $20, and Kentucky Fried Chicken for $11.95 but only had $19.95 in my account. they both were subtracted from my account on Feb 27. Instead of paying the $11.95 which there was enough money for and charging a $34.00 fee for the $20.00 debit they tried to charge on the bigger and of course it didn't go I was charged $68.00 for being $12.95 in the hole. I went to the bank on 1 March and asked why, and was told it was policy. I asked if i had written five one dollar checks and a twenty dollar check what would have happened the customer service representitive told me i would be charged a fee of $34.00 for the one dollar checks as well as the $20.00 Debit. And people wonder why things are getting worse! Needless to say I will be seeking another bank. Its a good thing i like KFC because four pieces of chicken cost me $80.00!!!!

1 Comment

5e80029d, 2010-01-26, 08:49AM CST

The banking software is designed to withdraw debits prior to posting credits even when the credits arrived hours earlier than the debits. Software is also designed to withdraw the largest amount first so that more fees can be charged when insufficient funds result; often, the insufficient funds are the result of the previously mentioned practice. M&T Bank has cost me hundreds of dollars, if not over a thousand, by giving me the wrong balance on the phone.

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