• Report: #1146480

Complaint Review: Wellsfargo

  • Submitted: Tue, May 13, 2014
  • Updated: Tue, May 13, 2014

  • Reported By: Amrita — Denton Texas
Wellsfargo
Internet USA

Wellsfargo Ripped off money, cancelled transaction , in spite of overdraft protection Denton Internet

*Author of original report: Ripoff is terms and conditions are not explicitly told

*Author of original report: It was refunded by campus branch when I talked to person

*Consumer Comment: I think I decoded your report...

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My savings account was linked to paypal account, I did not know it was, I thought it was my checking account. I paid a fee of $5 and purchased an item from internet. I thought it was being taken from my checking and I got an email saying approved transaction. Later I was charged $35 to my savings account and the item was returned by the bank without having said a word to me. I did not know that they were charging my savings + my transaction was returned+ I was charged extra $35 dollars for something I never purchased. When I called the bank they said it was my fault and tehy were doing me a courtesy and could return $17 if I begged to them that I made a mistake.

I refused to say that it was my mistake as I was not made aware of who took what money from which account and I was made to pay $35 by the bank for nothing. I will got to the lawyer on campus against wellsfargo which is also on campus. All this stuff was told to me by phone banking. Tomorrow I will talk to wellsfargo on campus. But I am not sure that they will return my hard earned $35 or not. From what I understand they will not. I think they ripped me off for wrong reasons and did that treacherously without my knowledge. I will definitely stop business with wellsfargo. And I would go to customer court for harassment and cheating by the bank. 


This report was posted on Ripoff Report on 05/13/2014 10:31 PM and is a permanent record located here: http://www.ripoffreport.com/r/Wellsfargo/internet/Wellsfargo-Ripped-off-money-cancelled-transaction-in-spite-of-overdraft-protection-Den-1146480. 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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REBUTTALS & REPLIES:
2Author 1Consumer 0Employee/Owner
Updates & Rebuttals

#1 Author of original report

Ripoff is terms and conditions are not explicitly told

AUTHOR: Amrita Pal - ()

 Robert

I think you did not understand the concern here. What you were calling terms and conditions that yes I signed are never read. And that is a universal "mistake" not just MINES. So before you start thinking your comment was very intelligent and understandable -please go register yourself and learn something from the Texas Education System. It understands what is fairplay, which unfortunately you don't understand. And yeah "customer" court should have been consumer forum, but anyways I dont need to go there anymore. And would from henceforth believe in fairplay much more than any court from henceforth. This is because all that ultimately matters is fairplay.

Thanks for your insightful comment anyways, it helped me get an idea of how your world runs.

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#2 Author of original report

It was refunded by campus branch when I talked to person

AUTHOR: Amrita Pal - ()

Hi

It seems the phone system is the problem. When posing real questions through an on-campus representative the problem was resolved. I think at the end Wellsfargo as a bank is not bad, sometimes it is just the PR skills of my end to an unknown person on phone is bad I guess. I take back my complaint.

Amrita 

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#3 Consumer Comment

I think I decoded your report...

AUTHOR: Robert - ()

Okay I think I got what actually happened.

You "thought" your PayPal account was linked to your Checking Account and it turns out it was linked to your Savings Account.  Now, when you use PayPal and don't have enough in the PayPal account it pulls money from your backup source.  In this case the Savings Account.

Now, what happened is that PayPal automatically will "approve" a transaction as it sends the request to your bank to pull the funds.  PayPal sends the request through an ACH transaction, this is almost identical to as if you had sent in a Check.  Now, your bank rejected this transaction because you did not have enough money in your Savings.  As a result they charged you a $35 returned item fee, which is totally valid.  Yes, the bank has the option of whether or not to accept a transaction that would put you negative, and as a rule they will always reject ones involving savings accounts if that transaction would put you in the negative.  Yes, just like there is an Overdraft fee when they pay the item, there is a returned item fee that they will charge if they return(reject) it.  Oh and you did approve this by agreeing to the terms and conditions when you opened the account.

So what it comes down to is that in effect the bank is right this is YOUR mistake because you thought it was tied to your Checking Account.  

As for you getting a lawyer and taking them to "customer" court...yea let us know how that goes.

I actually think the only RipOff here is the Texas Education System..especially if you did graduate High School and are currently in a College.

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