Wells Fargo Overdraft Policy

Posted on Sunday, November 6th, 2005 at 12:00am CST by d6cb1837

Company: Wells Fargo Overdraft Policy

Category: Other

Wells Fargo Overdraft Policy

November 5, 2005

I believe Wells Fargo diliberatly miss post items to my account in order to charge an overdraft fee. In a 45 day period I was charge 45 overdraft fees. In most cases items were posted a day before my paycheck was direct deposited. Items that normally took 3 days to post on a consistant basis mysteriously started posting in 1 day before my paycheck was direct deposited. They are charging 33 per item and they are using every means necessary to get that fee. I called to speak to a supervisor and tried to get them to work with me on the fees because they were so excessive. They refused to help me and said because it wasn't a bank error there was nothing that they could do.

What kind of bank does this to their customers. I explained to them that I could not pay those kinds of fees. Could they negotiate with me on some of these fees, that they were excessive and that I do not make that kind of money for them to take 1400 out of my account. I explained to them that this was putting me in a financial bind. I was told that if there was a bank error and far as they were concerned it wasn't and they will not reverse the fees. Because of this I have become a month behind on my mortgage, all my bills are a month behind, I can not buy groceries. I want them to know how their company is effecting my family and how this policy needs to be changed. Or have a way to negotiate with the customer if fees become excessive. Their refusal to work with their customer confirms their refusal. I don't have enough money to open another account with another bank. I hope by posting this story will bring together other Wells Fargo customers that this has happened to and together will get to change their policy as long as we stay silent they will continue this thievery.


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91cc9958, 2007-11-15, 03:39PM CST

wells fargo bank..just lost me as a customer and every other potential customer that will land 10 yards from me. Whether they ask me or not if the Bank is worth their money. I will tell them in a written statement thats ITS NOT WORTH IT. For the second time in 6 months i have gone 600+ in overdrafts after a single fraud that took my money. I called and it took them 15 days to solve it...they knew it was a scam but they were holding off. They never held off on my debits until this was resolved. i had spent 1.36, 2.16, 7.21 when i had 9. 97 in my account. I asked for a direct deposit advance immediately. to put my account in positive. then these charges got postponed to another 3 days...after a direct deposit went into my account...and the advance was withdrawn. these charges now took effect and i got into trouble which they said was my own responsibility. I am now thinking to change accounts and remove the direct deposit product and have my money for me.

87f2a465, 2008-11-16, 01:44PM CST

i had almost the same experience!

i had recieved bank statements that said overdraft adn that was ok i know that but it said i was not feed anything.

then i look online and it says i owe about $400 in fees. i called all last night but again they said there was nothing i could do.

i dont think this is fair because the fees were not stated from the start and i never had late fees before, and with that when i went to the branches they only told me i owed what i over drafted. they are being sneaky and deceitful. i will leave wells fargo asap right after i pay this which i dont kwo how i am going to do it becaseu i am in college and make only about $70 a week

330b38db, 2009-10-13, 02:18PM CDT

I've had Wells Fargo return a paper check and electronic checks because I was either $50.00 or $100.00 short (because I didn't make my deposit in time for my rent check.)

But when an electronic check hits my account over this past weekend where I was exactly $357.81 SHORT, they paid the damn check!!! Why you may ask?? Because I had another 9 transactions hitting my account. (Any normal human being would think obvsiously an error was made with the electronic check, like I didn't know it was hitting my account, because I didn't schedule it for that weekend).

I think Wells Fargo picks and chooses what items they want to NSF based on how much money they can make on fees all together.

I'm positive that if I had no other items hitting my account, Wells Fargo would have returned my check to Toyota, without hesitation!

Wells Fargo Sucks #$%t!!!

4692d618, 2010-06-02, 07:09PM CDT

I just had the same problem with Wells Fargo today.

Last night I went to bed with a positive $27 in my account(6/01/10). I knew I was to have other fees posted to my account but did not worry because I knew I my check was to be posted to my account after midnight (6/02/10).

Well the check was there, and all seemed fine. Then later in the day I was sent a notice of over draft for 6/01/10. I received this notice at 3:27 pm on 6/02/10.

So after my check was electronically deposited, my back deducted my transactions. Only, they did this minus my deposit amount, which in turn over drafted. I was charged 7 over draft fees at $35 per fee. The total amount that I was over drawn by was a little less than $27. I was charged $245 for less than $27.

I spoke to a banker and they brought out a deduction sheet. Put in some data from my account and did some math and said they could remove 4 of the fees. But the other 3 would have to stay.

I explained my account status the night before and how it was in the positive when I went to bed. So how could this happen? They explained that their bank runs 24 hours per day and that the end of the bank day is at 12 midnight, so the transactions must have posted after I went to bed.

I watch my account online almost religiously and knew my check would be in at midnight so I should have no worries about any over drafts. I explained to the banker that I would have put in a direct deposit advance had I known an over draft would occur, because the last thing I want to do is spend $245 on over draft fees.

They appologised and politely told me to go to hell by explaining their policy.

Wells Fargo is undoubtedly one of the worst banks I have ever delt with.

I will be filing a complaint at the better busines buearu, closing my accounts and lobbying against them.

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