• Report: #1082762

Complaint Review: Wells Fargo Bank

  • Submitted: Sun, September 08, 2013
  • Updated: Sun, September 08, 2013

  • Reported By: Leroy E — Prescott Valley Arizona
Wells Fargo Bank
Prescott Valley, Arizona USA

Wells Fargo Bank Overdraft Fee Scam by Wells Fargo Prescott Valley Arizona

*Consumer Comment: Ridiculous

*Consumer Comment: You Guys!

*Consumer Comment: Here is what is really happening.

*Consumer Comment: Good Grief!!

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I have been with Wells Fargo for about 9 months I noticed they play alittle game with Debit Card Account. When I purrchase using Debt they charges go to pending and 2 or 3 days later finally post. It's when I purchase items as a credit charge Wells Fargo is very sneaky. They first show the charge as pending and my account balance reflects my current balance. Then after 2 or 3 days the pending charges drops off and the funds are added back to my account.

This is where they get you for for the overdraft fees, if your not paying attention you will check you balance think you have a certain amount of funds and make additional charges. Now comes thay charge you made as a credit it comes back onto your account as paid and your balance is negative and your $5.00 or $20.00 charges are costing you a overdraft fee of $35.00 each.   

I have noticed that they have done this every month when I pay my bills online. Except this month they caught me not paying attention and they made a quick $105.00 for $44.00 overlimit.   Also I noticed that they do like the other banks and they pay the highest charge first then hit you for multiple overdraft fees on the little charges.   But I now I will just go to the bank every month withdrawl my money and pay cash and cut the middle man out.

 

 


This report was posted on Ripoff Report on 09/08/2013 06:02 PM and is a permanent record located here: http://www.ripoffreport.com/r/Wells-Fargo-Bank/Prescott-Valley-Arizona-86314/Wells-Fargo-Bank-Overdraft-Fee-Scam-by-Wells-Fargo-Prescott-Valley-Arizona-1082762. 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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#1 Consumer Comment

Ridiculous

AUTHOR: ramjet - ()

You are accusing them of working for the bank because they are telling you how simple it is to avoid overdraft fees forever?  Really?  Think about how ridiculous that sounds.

Simply keep an accurate register and your fees will magically disappear.  It's as simple as that.

And yes, they will be happy to provide you with a register and train you to use it correctly so you don't get fees at all.

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#2 Consumer Comment

You Guys!

AUTHOR: Jim - ()

You guys must work for them! 

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#3 Consumer Comment

Here is what is really happening.

AUTHOR: Robert - ()

You and you alone are failing to manage your account by not keeping a written register..but more on this in a minute.

The way debit card transactions work is that there is often a 2-Step process.  The first step is just an authorization(hold) on your account.  This is NOT the final sale.  It is up to the merchant when to submit this final debit.  Now with most vendors it is done almost immediatly, with others that do it in a "batch" mode it could be 2-3(or more) days.   However, until the merchant submits the final debit..it will stay in it's pending state.

Now, because a bank has no idea if the sale was completed or not until the merchant sends in the final amount.  After a certain amount of time the bank will "release" the hold as a courtesy so you don't have money in limbo.  But when the merchant then submits the debit..it gets deducted from your account.  Or is this a case where you really thought that the merchant just forget about you and decided to give you free merchandise?

So now lets get down to your fault in this.  It is your account and your responsibility to know what you are spending.  If you write down every purchase as you make it and deduct it from your available balance.  It doesn't matter if the final amount is deducted in 2 hours or 2 weeks because YOU know you have spent the money and it will eventually be deducted.  Of course this should go without saying, but the other major part of this is to NEVER attempt to spend more than you show available in your register. 

My guess that this is not your first bank, and probably had overdraft issues with the other banks as well.  After all if you didn't why didn't you stick with them?  So perhaps it is time to stop thinking that it is the bank's that are at fault and start looking in the mirror for the true person. 

Oh and if you really want to find out how evil the bank is.  Why not go into a branch and ask them to tell you how to use a register.  I bet that they are so evil in their secret plan that they will not only show you but will give you one to use.

 

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#4 Consumer Comment

Good Grief!!

AUTHOR: Stacey - ()

 This is not the banks fault but yours.  Learn how to reconcile a bank statement and keep an accurate check register.  These are the things that can keep your account in the positive.  ATM, phone and online balances are not correct and any bank will tell you this!!!

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