Wells Fargo Bank - Unathorized / Improper Withdrawls by Wells Fargo

Posted on Friday, September 19th, 2008 at 12:15am CDT by d8a9f528

Company: Wells Fargo Bank

Location: Torrance, Ca, Not Known, US

Category: Other

Wells Fargo has withdrawn approximately $800.00 from my account because my step son's account was overdrawn.

Most of this $800.00 is bank fees.

They claim that they can do this because my wife was in my account and she was in my step son's account as well.

The problem with this of course is that my step son is an adult and he is responsible for his own finances. I had no access whatsoever to his account. I had only authorized my wife to have access to my account. I never authorized the linking of my account to the performance of another person's account over which I have no control.

These are the facts. You are smart consumers. You can make your own judgements about this bank.


1 Comment

b9047830, 2008-10-31, 01:23AM CDT

I would suggest reading your disclosures under the 'Right to offset" section. When an account in jointly held, all owners have equal access to the funds and equal liability for the account. The bank, any bank, cannot determine who the account is for (this is my account... this one is my stepson's account) and the age of owners isn't a factor.

You can have whatever opinion you wish about this policy. But I suggest looking in the disclosures because I am sure that all banks have the same process when dealing with overdrawn accounts.

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