• Report: #797458

Complaint Review: Wells Fargo Bank

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  • Submitted: Saturday, November 12, 2011
  • Last Posting: Wednesday, November 30, 2011
  • Reported By: Joe — Port Orchard Washington United States of America
Wells Fargo Bank
11205 pacific Ave S Internet 98444 United States of America

Wells Fargo Bank ripped off my business account over an over again. Internet

*Consumer Suggestion: How It's Set Up


1Author 3Consumer 0Employee/Owner

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I opened a business account with Wells Fargo Bank when i started my own small business being that i did this i also decided to us them for Merchant Services. Now the first thing that happened was this the agreement that was made with the merchant service account was that the fees would be deducted from my account as each card is ran that way i wouldnt be hit with charges unexpectedly.

That's not what happened they built my fees up to one large lump sum an when my account was low thats when they would always hit it which in turn they would pay and then charge me overdraft fees on, i called them an complained that this was not the agreement that was made and that i wanted the overdraft fees returned due to the fact that they aren't honoring the agreement.

I then also find out about some hidden fees that they did not devulge this information to me when i set the account up nor did they inform me of the lease of the equipement they did all this under lies.  I called the customer service manager of the bank an complained to no prevail i then spoke to the manager at merchant services who told me that they were honoring what me agreed on and that the bank was the one doing all the other stuff.  So i call the bank back an the in turn tell me that it is the merchant services who is doing all of this.

So now they got me going back an forth blaming one and the other i informed them that i want all my overdraft fees returned and the fees that i was being charged that wasnt under the agreement. They later sent me a letter stating that they refunded my monies, so once again i call an inform them that they did not refund all of my monies.  The customer service reps were very rude an disrespectful.

So i told them that i was contacting the attorney general an going to have this investigated cause im sure that i am not the only small business that they have done this to. They rep laughed at me an said oh yeah well give me the claim number.

I then told him until this dispute is setteled i will not be paying anything on this account and to freeze it i also closed out the merchant account i had through them. Them keep sending me statements upon statements of charges that they are charging me for on an account that has been closed thru merchant services.

I then spoke to a rep again an they informed me that they were going to keep letting the fees build up and then send it out to the credit agencies which will hurt my credit i told them that since this is a dispute that they can't send anything to the credit agencies until it is settled. they said they can an will. I said fine that's just one more complaint to add to the list.

I have'nt spoke to any of them since then the statements just keep coming in. So i will be going to the press and anyone else that i can go to that can help me with this situation.

This report was posted on Ripoff Report on 11/12/2011 11:19:34 PM and is a permanent record located here: http://www.ripoffreport.com/banks/wells-fargo-bank/wells-fargo-bank-ripped-off-m-e60a2.htm. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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1Author 3Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

I don't buy it

AUTHOR: RC86 - (United States of America)

Sorry, but Wells Fargo does not simply wait around until you are low on money and then charge your account. Whether or not you realize it, you are just one customer in a billion and doing this is a huge waste of time when there is tons of money to be made with other customers. You obviously didn't understand how Merchant Services works. It is a totally separate division of Wells Fargo. They can't reverse overdraft fees because you simply didn't understand. They will charge you monthly, weekly, yearly, etc for Merchant Services and you obviously didn't read the contract correctly. By the way, be careful not paying them because it can affect you being able to open an account anywhere in the near future if it reports to Chexsytems, it's nearly impossible to get off their system. They can and also will probably get a judgement against you to get their funds (Wells Fargo, that is.)
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#2 Consumer Comment

No surprise.

AUTHOR: center of attention - Malibu (USA)

Please, you can't even speak fluently. It's not surprising that you can't understand banking principles.
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#3 Consumer Suggestion

How It's Set Up

AUTHOR: Cory - San Antonio (U.S.A.)

At my shop. I've done it both ways. You can either have your processor take their discount(cut) out of each transaction OR you can have them take their discount out at the end of the month. The advantage of NOT having them take their discount out of each transaction is you get to use THEIR money all month long. The DISADVANTAGE is they take a much BIGGER chunk out of your account at the end of each month, along with whatever fees they're gonna charge you. IF you're on a tight budget it hurts alot more. It all depends on how your contract was written. You're gonna have to pay them their discount either way. As for the fees. I don't care what ANY credit card company tells you. They ALL will jack you for fees. Just some will jack you for LESS fees. The hard part is finding the companies that charge less. I found it was better to keep my bank and credit card company SEPERATE. That way my bank is looking out for my interests. It has protected me in some disputes with credit card companies.
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