Wells-Fargo bank has a new policy as of 2012 where they will drop pending charges on your checking account after two days usually. They say that the charges are dropped because the business that pinged the account for the funds did no close their batch before the two days was up. What happens next is brilliant. When the pending charges are dropped after two days the funds are added back into your account and they TOTALLY disappear from your register. TOTALLY!!! Then when the business finally closes their batch (whenever they do this) The charges are pulled directly from your account instantly. NO PENDING TIME!! I know of no other bank that does this.
Now there will usually be a few days in between the time when the pending charges are dropped and removed from your register & the funds are added back into your account from when they are instantly posted to your account. [continued below]....
..... Most people would have spent the money thinking they were correct to do so. This will create overdraft fees. This is not illegal but it is a VERY poor way to treat your customers. This policy is designed to catch people with fees. It is in place for NO OTHER REASON! Wells-fargo is a bad bank. You will be better off banking with your local credit union. Wells-fargo does not care about you! Their only concern is getting as much money out of your wallet and into their vaults. They posted record profits in 2011 and 47% of those profits were from fees!!! LOOK it up. I have provided two sources for you below.
I have worked for banks and credit unions. I would never work for a bank that practices this policy. http://www.huffingtonpost.com/2011/10/19/wells-fargo-debit-fee-que_n_1020464.html http://www.mybanktracker.com/bank-news/2011/01/04/wells-fargo-checking-fees-2011-checking-account-review/