Wells Fargo Abusive business practices -- FEE RAPE!! Internet

First let me state that I am a FORMER employee of WF Bank.  I have no ties to them anymore, nor will I ever.  I have not been asked by anyone to write this rebuttal and do it to offer my insight as both a former employee and also as a consumer.

To start, managing a bank account is not easy sometimes because there are a number of factors that can determine when items post, the order they post, and when fees are charged.  

When you run your card with a merchant, generally they are given an approval code or in bankers terms, an authorization.  This authorization may or may not appear on your account as a pending transaction.  From there, in order to get paid, the merchant has to finalize the transaction through their system and request final payment from the bank.  When they do this, the transaction posts completely to the customers account.  Now if the merchant does not request final payment in 3-5 days, the bank can drop the hold.  This does not mean that the merchant can not get paid though.  This just means that the bank is no longer holding the funds for the merchant.  This is standard procedure for all banks I have ever done business with.

Now speaking about the overdraft protection fees, they are definately valid fees.  It is your responsibility to manage your accounts and the funds going between them.  When you make a purchase, YOU have to keep track of your balance in that account.  This is best done with a check register due to the reasons I stated above with the authorizations only staying so long if they even show up right away.  If you have an account linked up for overdraft protection, the bank will take funds out of that account to ensure that your available balance (actual balance - any pending transactions) is not negative.  If the bank has to move the funds to ensure this, that is when this fee is charged.  If you move the funds before the close of business time, they do not charge this fee.

All of this information is provided to you in your new account paperwork.  When these procedures or fees change, WF mails you the new terms to the address that they have on file.

Many people consider this theft and it can be hard to understand at time.  It is however a valid charge that has been disclosed to all customers as well as a service that you can opt out of.

I hope that this message provides some insight.  It is not meant to attack anyone or imply fault to anyone.  I am just trying to help people understand how this works.

Jim,

You are just another worthless corporate troll.  You and those like you are a disease.  Your job is to attack  WellsFargo's victims.  

Your sleazy corporation is being sued by the feds again.  What a shock that must be.   Are you corporate trolls worried that you'll lose your bonuses? 

Is Wells Fargo still REQUIRING bankers to sell the products a week or be fired?  

You sir are a shamless corporate puppet. 

I am a victim of the criminal corporation  known as "Wells Fargo."  

Tell me Jim, are you a bigwhig?  Are you the president's play thing?  Maybe your just some souless middle-management troll.  Who knows.  Who cares.  Either way, you're a souless meat puppet who lacks free will.

I bet if your corporate bosses stopped short, your head would be so far up their butt(s), you would be able to taste what they had for breakfast.

exeeds his shoe size, and he's obviously no Big Foot..LOL.

Mr. Corporate Drone (Jim, I think your name was);

How long have you been a mindless, souless, clueless, servant of your corporate masters?

So Lordbenji, how long has your IQ varied with room temperature???

Ken,

You're just another corporate drone.  Please learn to think for yourself.   People who serve corporations are generally mindless zombies who are trained to kiss the corporate rear end. You want evidcence of corporarte dishonesty on the part of your masters?

Everybody can read about how Wells Fargo is being sued by the federal government here: (((link redacted)))

Your servatude to a collection of corporate thieves makes you a sad, sorry, corporate zombie who lacks the ability to think for himself.  Have a nice day.

CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.

thus dooming himself to keep repeating the trouble he is causing himself.

What a "maroon."

BTW, it's common on Ripoff Report for idiots with no further cogent arguments to accuse authors of rebuttals he doesn't like to be employees of his target company....Kind of small minded, but common.

How long have you worked for Wells Fargo?  How long has it been corporate policy for you clowns to attack people who demand justice from the criminally corrupt corporation that you serve?

In reviewing the three responses to my post, I see that Wells Fargo has again sent its employees to attack me for demanding a refund of monies that were wrongly taken from my account.

If Wells Fargo's balance information (viewable from the online banking page) was anywhere near accurate, and if I could count on the criminals at Visa setting hard guidlines about WHEN funds should be drafted, then I wouldn't have this issue.  Since Wells Fargo cannot be trusted and Visa is the world's largest criminal corporation, there are issues.

I use my card on one day and the money does not come out until 10 days later.  This is bad business and it's designed SPECIFICIALLY to allow banks and card issuers to add these fees.  As far as I am concerned, the bank is just getting rich off of the poor and Visa is getting a d**n percentage, which makes them JUST AS BAD.

Furthermore, the bank is not out any overhead here because their computer system transfers the funds automatically.  As such, there is NO justification for the fees.  A smart person I know calls these fees "I'm not rich enough" fees.  I now see the logic in his words.

Shame on all of you and shame on Wells FargBLOW.

If you follow Jim's advice, you WILL solve these problems. If you don't, expect this to continue at ANY bank you deal with....It's all up to YOU!!

I am a left wing liberal democrat but I have no idea what that has to do with your failure to maintain a current account register. No matter what your politics are, you have to keep current records or you will have problems no matter what bank you use. That is something even a politician from any party can promise with confidence. Learn to keep a current register and keep it up to date.  You will not get any more fees.  Very simple solution.

Is this YOUR account with YOUR MONEY? Of course it is. Then why are you going to them to give you a balance? How do you know they are correct? How do you know when or if they make a mistake? How do you know how much money you have BEFORE you use the card? The answers to these questions can be easily obtained by YOU maintaining the most accurrate balence information on the planet by YOU keeping a check register or similar record of each and every purchase or card usage and then doing the subtraction right then and there. This stuff that they can't give you an accurrate balance is true. But YOU can! They cleaned out your account because YOU kept using the card WITHOUT HAVING A CLUE what your balance was at the time of usage. There's no rocket science to this or complex accounting rules. You simply keep a running total. Its your money...perhaps you need to know how much of it you really have before running up overdraft fees.