I am currently having a problem with Wells Fargo.
Starting from the beginning, I had a problem at Bank of America and due to uncontrollable circumstances my account went into negative 299.00 of NSF charges. Because I was not able to take immediate care of the situation I opened a Wells Fargo account which was on August 30 of 2005. Bank of America advised me that once the account is in negative for 120 days they will charge off the account. The account went into negative exactly on August 23, 2005 so I made my plans accordingly to pay the debt on December 15, 2005 income which would have fell within the 120 range.
As I had arranged, on December 15, 2005 I called Bank of America to pay the debt and the Banker advised me that my account had already been closed on December 12, 2005 for the same issue. I told the Banker that I was advised of the 120 time frame and he agreed yes that is true. He eventually ended up counting the days and it came to 112. There was nothing he could do. The account was already sent off to their collection agency called ER Solutions.
Because of my ignorance about the account being reported to Chex Systems and potentially jeopardizing my open account with Wells Fargo, I have seen the notorious side of Wells Fargo.
It started on Monday January 16, 2006 (holiday). Early that day I went to Ross Clothing Store. When I got to the register my card was denied..( Let's back up a little) I want to be as informative as possible. I got my income on Friday January 13, went inside Wells Fargo Branch and deposited my payroll check. It was 747 and I asked for 20 back. So total deposit was 727. SO.. Im wondering why the card is declining.
I called Wells Fargo and even the automated voice machine wouldnt recognize my pin #. So Im very confused now. The banker gets on the phone and advise me that my account is frozen because I was reported to Chex Systems by another creditor. Right then and there I knew it was Bank Of America because thats the only debt I had. He said for them to release the hold on the account they would need a letter faxed from Bank of America stating that the balance is paid in full and that they would delete me from Chex Systems. He also advised me I have only 10 business days to take care of this or they will close the account. The approximate date for foreclosure would be on January 30, 2006. Once they get the fax then at that point they would release the hold.
I spoke with the Loss Prevention Dept at Wells Fargo and advised them that in order for me to take care of this situation I need access to my funds. She asked me how much, I told her 300. She puts me on hold and comes back and says no because the funds are from a check and it takes 10 business days to clear. I told her it was a payroll check and those funds were available to me even on Friday Jan 13 when I deposited it. I even got 20 dollars back. She said no and because I now have a hold on my account checks deposited will need to wait at least 10 days for it to clear...I didnt understand that because that check was deposited and made available as cash BEFORE a hold was placed on my account. And she knew I didnt have that kind of time frame because of their policy with the 10 day foreclosure process.
So being that I could'nt use my own funds in the frozen account, I borrowed the 300 from a friend that Friday January 20,2006 and was ready to pay. I called Bank Of America. The banker transferred me to Recovery Department. I spoke with a lady from there and she advised me I couldnt pay her and I had to take care of this through their collection agency ER Solutions. She gave me their contact information.
Next, I called ER Solutions. I spoke with a representive and explained to him the whole situation. Even before I could finish my sentences he was finishing them for me like he had many customers that experienced the same problem. He told me that Wells Fargo checks with Chex System every 30 days randomly on accounts and if anything comes back they will freeze the account. He explained the fastest way to pay ( WUQC ), said to call him back with the MTCN#. He also said once the 300 is received he will fax me a letter stating the account is paid in full. I did so but since it was Friday, they didnt get the money till the following Monday and by Tuesday January 24, I had the fax. The fax had their company letterhead and a note from the collections supervisor stating the account is paid in full. It also had her contact information and said it was regarding Bank Of America along with my Bank Of America account number.
So Great, Im thinking now everything is taken care of. I call Wells Fargo, the Banker transfers me to the correct Dept ( Loss Prevention ) so I can get exact info on where to send the fax. The lady wanted me to read her the fax first before I sent it. She said "No, thats not good enough," and that it must say they are going to delete me from Chex Systems.
I called the rep back from ER Solutions and he advised me:
1) He doesnt work for Chex Systems so they cant put that they are going to "delete" me from Chex System
2) Bank of America not ER Solutions reported me to Chex Systems so he has nothing to do with that. His job is to collect the money for Bank Of America
Next, I called Bank Of America. I told the lady my situation and she said:
1) Until they get payment from ER Solutions they cant fax anything regarding payment for this account.
2) Once they do get payment from ER Solutions which normally takes 7 - 14 business days, they can fax a letter saying this information will be "updated" with Chex Systems.
I told her the deal with my frozen account with Wells Fargo and that I only have till 01/ 30/ 2006 to have this taken care of. I asked her if I could fax her the letter from ER Solutions that this was paid in full or if she could just call and verify it since its their collection agency collecting THEIR money. She said no. I didnt understand this. I called back several times just so I could speak with someone else since she couldnt help me. I got the same answer from 3 different people. "Until we get the money from ER Soultions, theres nothing we can do"... So I just asked out of curiosity "If ER Solutions decides not to pay you the money I gave them for you then is that my problem?" He said yes it is still my responsibilty till we get the money.... I tried to pay Bank of America directly but was told to pay through ER Solutions. I have taken care of my responsibilty by paying my debt.They seemed to be insensitive about the whole situtaion even when I told them my account with the only money I have would be closing on Jan 30. Wells Fargo said they would just mail a check with the remaining balance.
This seems like mostly a Bank of America problem (I will write one for them too ) but I think Wells Fargo went to the extreme with just freezing my account without prior notification. No letter, phone call or email was sent. I didnt receive a letter in the mail until January 19, 2006 that was dated for January 26 (the day they froze my account). The account is still open right now but I cant use the funds I deposited. I still have about 3 more days before they close it. I guess I will just go ahead and close it myself... if they will let me. It almost seems like Wells Fargo doesnt want me as a customer because of this problem with Bank of America. Even though my relationship with Wells Fargo was good.
I dont know what else to do especially when I already did my part in paying the debt. Its almost like youre treated like a criminal. For example, even though you did the time in jail for a sex offender, you will still face many problems afterwards and will still be treated like a sex offender. Is that how it is with debts too? Even though you owed and paid it in full you will still face problems and are treated like you still owe that debt? Seems unfair with no personal advantage for paying it.
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