Complaint Review: Wells Fargo Bank
Wells Fargo Bank Another scheme from Wells Fargo's big bag of dirty little banking tricks Nationwide
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The Wells Fargo ad said, " For only $12.00 you can protect your checking account from embarrassing overdrafts." I'm a procrastinator. I can never remember to transfer money from Savings or Credit Card, into my bank account in time so Overdraft Protection looked like a great idea. Here is what using Wells Fargo Overdraft Protection actually cost me per each use. $12.00 fee for using Overdraft protection. $35.00 fee for being overdrawn. $25-35.00 fee for getting a cash withdrawal. (Getting a cash withdrawal is what Wells Fargo says you are doing when they take money out of one of your accounts and put it into another account for you.) A total of $82.00 in fees per transaction.
I in hi The first month that I signed up for Overdraft Protection, I paid over $500 in banking fees alone. With no notification that I was overdrawn or that I was now using Overdraft protection, I continued to be overdrawn every single time I made a transaction until my social security was automatically deposited into my account. There is nobody to blame but me. I wasnt regularly checking my bank statements and worse, I hadnt thoroughly checked out how Overdraft Protection would work. I'm sure somewhere in all the fine print, if I had taken the time to read it carefully, there was something about "the fee for Overdraft protection is only $12.00 but it will cost you at least a total of $82.00 each time you use it."
They cleaned me out before I discovered it was happening. When I went into Wells Fargo and asked a supervisor what all the fees were for, she was just as confounded as I. A call to her equally baffled support person resulted in her finally figuring out that the 8 - $25 fees on my Savings account were for making cash withdrawals. (See definition of cash withdrawal above). Bottom line, even though their own people couldnt figure out what the $500 worth of fees that first month were being deducted for, I was supposed to have known about them and agreed to them when I agreed to use Overdraft Protection. I'm 72 years old, living on Social Security.
I will never recuperate what they sucked out of my buffer accounts in such an incredibly short period of time. I am so angry with me for not researching the actual cost of using their Overdraft Protection scam. But then, one doesn't expect to be beaten up and robbed by one's bank. My fault. I should have paid more attention. At least I dont procrastinate about financial matters anymore and I did learn to check my bank statement every single day. I'm working on getting a new small Credit Union account because I really hate feeling that I must be ever watchful for the next scheme Wells Fargo will pull out of their big bad bag of dirty little banking tricks. And from the other reports I'm reading on RIPOFF REPORT, they do have a BIG BAG of tricks.
This report was posted on Ripoff Report on 02/01/2017 04:34 AM and is a permanent record located here: https://www.ripoffreport.com/reports/wells-fargo-bank/nationwide/wells-fargo-bank-another-scheme-from-wells-fargos-big-bag-of-dirty-little-banking-tricks-1353247. 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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