I've read a lot of complaints about Wells Fargo and their Overdraft Fee Practice. I want to make it known that NOT every consumer who complains about Wells Fargo's abuse doesn't know how to manage their money, balance their check books or writes bad checks.
The FACT and complaint I want to make is that Wells Fargo does indeed take advantage of the "overdraft" situation per basis. They do NOT have a set standard, they do as they see fit to pocketing extra money! I have first hand experience on that.
I know Wells Fargo deliberately chooses which items they will honor or return! I have made the mistake in balancing my checkbook wrong and writing processing a bad electronic check. (I don't like writing checks anymore or buying them) I was short $50.00 once. Wells Fargo RETURNED that check. They also charged me the $35.00 fee. I DIDN'T complain. My mistake!
But this time, I'm very angry with how they are treating an overdraft on my account.
I had an electronic check in the amount of $866.82 from Toyota Financial hit my over the weekend. I had set up an electronic check to cover two payments, I ment to set it up for the 23rd of October when I got paid. Somehow, it processed early on the 9th.
Now I figured, I'm going to get an NSF fee for this and they were going to return the check because I was short $357.00 to cover this, last time when I was short $50.00 they returned it.
But, they DIDN'T!! And because they didn't, all the other 9 transactions I made (not knowing about this check to Toyota) even one in the amount of $2.51 were rearranged to hit AFTER the Toyota check so that Wells Fargo could make an extra $350.00 in fees off of me. Even a transfer & withdrawal were made before the check, but rearranged to hit AFTER the Toyota bill.
Now, you so called Wells Fargo employees could tell me Wells Fargo DOES NOT DO THAT, but then explain to me why they would return an electronic check where I was short only $50.00 but honor a check where I was short OVER $350.00??? I think any sane and smart human being would immediately know and say....."They did that to make money!"
BINGO!
I've done some research. Apparently, Wells Fargo has some lawsuits against them and are also well-known and documented doing this type of crap to other consumers. This message I've written is for consumers only! I don't care what you Wells Fargo employees have to say, so save your breath and don't reply.
Thank you!
P.S. Transactions ARE rearranged on your account to come out LARGEST to SMALLEST dollar wise. NOT by the date they happened!!!! And, a withdrawl I did on an ATM on the 9th, is still pending and has been re-dated to October 13th. Credit card purchases I did on the 9th are posted on the 9th. Technology better at Wells Fargo?? My butt!