Report: #1247925

Complaint Review: Wells Fargo

  • Submitted: Tue, August 11, 2015
  • Updated: Wed, April 13, 2016
  • Reported By: edmor — Atlanta Georgia USA
  • Wells Fargo

    Nationwide
    USA
  • Phone:
  • Web:
  • Category: Banks

Wells Fargo Bank Overdraft Fees Ripoff Nationwide

*Consumer Comment: Complete Garbage

*General Comment: Right...

Show customers why they should trust your business over your competitors...

I am an IT professional. I know from direct sources within Wells Fargo that the bank's transactions posting system is rigged. It uses an organized, on purpose, transactions posting algorithm, the sole purpose of which is to maximize revenue from penalites on Overdrafts. The system would delay or speed up the posting of a given transaction if that would result in a penalty being charged to the customer. The primary victims of this predatory scam are low income customers. Wells Fargo does not show the slighest concern for the victims. They are instructed to redicule and make fun of poor customers calling to complain because they picked up on the posting date discrepancy. It doesn't get anymore low life. Shame on our biggest bank.

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This report was posted on Ripoff Report on 08/11/2015 06:23 PM and is a permanent record located here: http://www.ripoffreport.com/reports/wells-fargo/nationwide/wells-fargo-bank-overdraft-fees-ripoff-nationwide-1247925. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#1 Consumer Comment

Complete Garbage

AUTHOR: Jim - (USA)

 ALL the complaints about OD fees are from people who do not maintain written records with an on going running balance, plain and simple. Bank officials, if you are eavesdropping, just go ahead and do your bottom line good by increasing these fees! There are so many crying, wailing dummies who will not manage their accounts, this is an absolute gold mine for you!

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#2 General Comment

Right...

AUTHOR: Striderq - (USA)

Gee, it seems simple. If you have $100 available in your account and spend $100 or less in any number of transactions then there's no fee accessed. If you fail to keep records and spend more than you have then you caused yourself fees. The number of fees is determined by the way the transactions are presented to the bank. Banks can not speed up or slow down transactions.

And yet you post no proof of your claims. If this were true then this fact would have come out during the class action lawsuits on transaction reordering. You supposedly have good enough friends to tell you this inside secret and yet no one had the integrity to tell the lawyers this during the trial.

And I suppose you have a bridge in Brooklyn to sell people too.

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