Wells Fargo Bank and Internet Banking Resulted with Excessive Overdraft Fees Phoenix Arizona

They process deposits differently, if an advantage comes to them. Case in point, my cash deposit made after 5pm, I had plenty of money in the bank, and I looked the next day, it had posted on the date I dropped it off. Which brings me to the most recent time, I placed a cash deposit because I realized I was going to be short on some checks that were coming in. I made that deposit at 5:05 pm at a in store branch, and low and behold it didn't post until the next day. Now, do you see my ponit??

Probelm is, they are taking money that people cannot afford to be taken. If you look around, WF and BOA get the biggest complaints, because they are the large nationwide banks, and they really do not care about the little guy. So what do we need to do as consumers?? Its simple, take your business elsewhere. Unless you continuously maintain a balance far enough above and beyond what you spend at all points in time and never run close, WF will eat you alive. There are plenty of other options out there, I know myself that I would probalby have an extra grand in my bank account if i hadn't messed with WF in the first place. My own mistakes I own up to, and yes some of those fees are my own doing, big deal, but when they manipulate it to make it better for themselves, then thats their bad, not mine.

They process deposits differently, if an advantage comes to them. Case in point, my cash deposit made after 5pm, I had plenty of money in the bank, and I looked the next day, it had posted on the date I dropped it off. Which brings me to the most recent time, I placed a cash deposit because I realized I was going to be short on some checks that were coming in. I made that deposit at 5:05 pm at a in store branch, and low and behold it didn't post until the next day. Now, do you see my ponit??

Probelm is, they are taking money that people cannot afford to be taken. If you look around, WF and BOA get the biggest complaints, because they are the large nationwide banks, and they really do not care about the little guy. So what do we need to do as consumers?? Its simple, take your business elsewhere. Unless you continuously maintain a balance far enough above and beyond what you spend at all points in time and never run close, WF will eat you alive. There are plenty of other options out there, I know myself that I would probalby have an extra grand in my bank account if i hadn't messed with WF in the first place. My own mistakes I own up to, and yes some of those fees are my own doing, big deal, but when they manipulate it to make it better for themselves, then thats their bad, not mine.

I'm not most people. I only use a savings account. The account balance never varies, because I never take any money out, nor put any money in.

I do get like 50 cents a year in interest, but that's the only change in the account all year long.

So, when I came here I assumed that the customers were all at fault. As a matter of fact, I made that exact same comment once. I told someone to use a calculator and a check register.

But, after a while, I began to actually read the customer's complaints more thoroughly. You start to see similarities between the complaints.

One thing I noticed is that reasonable people were assuming that deposits have cleared the bank and that the money was available for use. Later, those same people found out that was not the case. The dozen small checks they wrote all incurred a fee.

Another thing. Once you start to look at the practices that banks have, you begin to see a pattern of fraudulent activities.

For example, banks have noticed that if they send you a bill very close to the time when payment is due, it will cause many people to be late. You no longer get 30 days to pay the bill. Or even 10 days. Many times the banks will send the bill at a time when there is no possible way to pay it without a late fee.

In addition, the PBS show Frontline did an expose on fraudulent banking practices. That clearly demonstrated how these banks sit around all day and think up ways to cheat people.

Needless to say, I don't believe the banks anymore. They're out to cheat the customers any way they can.

Can you still slip by without paying fees? Yes. But, those days are coming to an end. Just ask how many revolving credit accounts were closed by the bank once they realized that the customer never paid any interest.

In other words, they either make a certain amount from you, or else they throw you the hell out.

Right now, the banks are reaping so much in fee income that they don't bother screwing around with the customers who don't pay any fees. But, give them time. Once they dig themselves out from that avalanche of money, they will sift through their customer data and learn how to weed out the no-profit customers.

Then, come and talk to me about your free checking.

I really do have FREE checking and I really don't pay any overdraft charges. I can do these things because I know exactly how much money I have to spend and I never go past that amount. I deposit money and I spend money. That's how the economy works for me. I spend no more than I have and I get along just fine with BoA and NFCU. In fact, the only time I got zapped was when my wife forgot to make the deposit. I got hit with a NSF one time(the bank waived it due to understanding what happened) and when I asked her, she said she forgot to deposit the reciepts for the shop(made the deposit weekly).

Maybe she ripped me off! Oh well...that's not the banks' fault. As for the checks bouncing before the deposit check clears...this would only happen if the check you deposit bounces. Unless the check is over $1500(most cases), you can use the funds immediately as if they are already there. If it clears the check writers account, all is well.

If it bounces at all, then in reality, you are writing bad checks yourself, albeit unwittingly. You are still responsible for the loss, even if you did not anticipate the check not clearing. I got a $1200 check from a customer for some work done to his car. It bounced because the $30K check he got from his customer did not clear. I got an $83 check from another customer that bounced. Same reason, his customer hit him with a $3500 rubber dubber. Get it? Their customers screwed them, so they wound up doing it to me. Only difference is they both came to me and gave me the cash before I continued the trend. They have class.

Both of these customers own huge businesses and like me, live on a tight budget. I have had accounts in my name in 3 states and overseas for the past 30 years and never had to pay for spending money I did not have. If I can do it, and my 10 year old can do it, why can't everyone else?

Why do you people think they offer free checking? What are they, Santa Claus?

The banks sit around all day and dream up new ways to cheat the public out of their money.

That free checking is like bait on a fish hook. And, you're the sucker. The minute you open an account, they know that you will pay hundreds, if not thousands of dollars in fees.

If it was as simple as depositing $500 and only spending $400, then nobody would pay any fees.

Here's how the bank will cheat you. You deposit your paycheck. After it clears, you start spending the money and writing checks.

Unfortunately, the bank simply places the new checks BEFORE your deposit actually clears. So, while you thought you had plenty of money in the account to spend, you were actually spending the bank's money the whole time.

All the little checks that added up to $400 each came with an overdraft fee.

You see, they will just HOLD your deposit until after you start spending money again. You think the deposit has cleared. But, the bank has intentionally prevented it from clearing.

That way, tons of overdraft fees.

So all you math geniuses who think you will win, give it a try. They got a free checking account with your name on it. Place your bets, and then spin the overdraft wheel of debt and despair. See how you make out!

Hell, Vegas will give you better odds than a bank. At least in Vegas, you actually have a small chance of winning.

With banks, you will never win.

If I deposit $500 in my account, I cannot spend more than $500 without being penalized. DUH! It does not matter how I spend that $500 either. I can write as many checks and use the card as much as I want so long as I do not spend more than $500. I can do it in any variety of increments up to a grand total of $500 and never pay a single penny in NSF or overdraft charges. DUH! How is this basic principle so hard for some of you to grasp?

My 10 year old knows how this works? Why don't the rest of you? He has $120 saved up in his Credit Union account and a pile of change and loose bills in a pitcher in his room. He knows exactly how much he has to spend if he wants to. He's 10! He's known how to add and subtract since he was 5. DUH! If you've been ripped off by anyone, it's the government school you went to.

They obviously never taught you math. Or maybe it was you parents who ripped you all off. They never taught you about personal responsibility. You figure it out amongst yourselves. I shall enjoy the free checking I get due to everyone else being oblivious to basic principles of mathematics. VIVA-LA FREE CHECKING!!!

Back nearly 25 years ago I opened a checking account at United Bank of Arizona. I could just as easily opened an account at Southern Arizona Bank, First National Bank of Arizona, or Valley National Bank of Arizona. Note that these were all locally owned and managed.

Then United Bank got gobbled up by Citibank.

The Citibank got eaten by Norwest.

Finally, Norwest became fodder for Wells Fargo.

Those other Arizona banks also became parts of other national banking conglomerates.

Three years ago I moved from Prescott to Tucson and gave Wells Fargo my new address. They suggested that I apply for overdraft protection so I called their 800 number. The young man there insisted I was still living 200 miles away and must be commuting daily as his records showed that I still lived in Prescott. Needless to say I did not get the overdraft protection even though all of my checking statements went right to my new address.

A few months ago one of my accounts became overdrawn at month-end when one of my direct deposits arrived late. Wells Fargo charged me $33 a day. That included Saturdays, Sundays, and holidays when the bank was closed and deposits were not processed!

What I do not understand is why some criminals rob banks. Instead of risking jail time, they should just put on some nice clothes and rob bank customers the legal way.

Back nearly 25 years ago I opened a checking account at United Bank of Arizona. I could just as easily opened an account at Southern Arizona Bank, First National Bank of Arizona, or Valley National Bank of Arizona. Note that these were all locally owned and managed.

Then United Bank got gobbled up by Citibank.

The Citibank got eaten by Norwest.

Finally, Norwest became fodder for Wells Fargo.

Those other Arizona banks also became parts of other national banking conglomerates.

Three years ago I moved from Prescott to Tucson and gave Wells Fargo my new address. They suggested that I apply for overdraft protection so I called their 800 number. The young man there insisted I was still living 200 miles away and must be commuting daily as his records showed that I still lived in Prescott. Needless to say I did not get the overdraft protection even though all of my checking statements went right to my new address.

A few months ago one of my accounts became overdrawn at month-end when one of my direct deposits arrived late. Wells Fargo charged me $33 a day. That included Saturdays, Sundays, and holidays when the bank was closed and deposits were not processed!

What I do not understand is why some criminals rob banks. Instead of risking jail time, they should just put on some nice clothes and rob bank customers the legal way.

Back nearly 25 years ago I opened a checking account at United Bank of Arizona. I could just as easily opened an account at Southern Arizona Bank, First National Bank of Arizona, or Valley National Bank of Arizona. Note that these were all locally owned and managed.

Then United Bank got gobbled up by Citibank.

The Citibank got eaten by Norwest.

Finally, Norwest became fodder for Wells Fargo.

Those other Arizona banks also became parts of other national banking conglomerates.

Three years ago I moved from Prescott to Tucson and gave Wells Fargo my new address. They suggested that I apply for overdraft protection so I called their 800 number. The young man there insisted I was still living 200 miles away and must be commuting daily as his records showed that I still lived in Prescott. Needless to say I did not get the overdraft protection even though all of my checking statements went right to my new address.

A few months ago one of my accounts became overdrawn at month-end when one of my direct deposits arrived late. Wells Fargo charged me $33 a day. That included Saturdays, Sundays, and holidays when the bank was closed and deposits were not processed!

What I do not understand is why some criminals rob banks. Instead of risking jail time, they should just put on some nice clothes and rob bank customers the legal way.

Back nearly 25 years ago I opened a checking account at United Bank of Arizona. I could just as easily opened an account at Southern Arizona Bank, First National Bank of Arizona, or Valley National Bank of Arizona. Note that these were all locally owned and managed.

Then United Bank got gobbled up by Citibank.

The Citibank got eaten by Norwest.

Finally, Norwest became fodder for Wells Fargo.

Those other Arizona banks also became parts of other national banking conglomerates.

Three years ago I moved from Prescott to Tucson and gave Wells Fargo my new address. They suggested that I apply for overdraft protection so I called their 800 number. The young man there insisted I was still living 200 miles away and must be commuting daily as his records showed that I still lived in Prescott. Needless to say I did not get the overdraft protection even though all of my checking statements went right to my new address.

A few months ago one of my accounts became overdrawn at month-end when one of my direct deposits arrived late. Wells Fargo charged me $33 a day. That included Saturdays, Sundays, and holidays when the bank was closed and deposits were not processed!

What I do not understand is why some criminals rob banks. Instead of risking jail time, they should just put on some nice clothes and rob bank customers the legal way.

Hmm, yeah, that must be why, we all just suck at math, I think you are the one who needs to get a clue.

Why is it then that people that balance their checkbook on a regular basis get hit with fees also??

Look around here, see how many wells fargo complaints there are, and then look to see how many complaints about other banks there are. The reason wells fargo has the most is because they are the worst when it comes to this sort of thing.

They are unreliable, process items differently to give themselves extra money, and are rude to their customers that don't keep extra thousands in their accounts they cannot sip away, this is not speculation, this is truth. I have had wells fargo lose 2 deposits, lose a wire transfer for $500, which magically showed up at the other bank 2 weeks late, process cash deposits on the same day after when made after 5 pm, then the next time made at 4:45 pm didn't post until the following day.

Yeah, wells fargo has no fault at all, you need the wool to be pulled from your eyes. They suck, other banks are lightyears beyond their customer service and satisfaction, and until they get their head out of you know where they will always suck, thats why I took my business elsewhere, and if anyone wants to file a class action suit against wells fargo I would jump right on it.

And don't try to school me about simple math, I was an engineering major.

Hmm, yeah, that must be why, we all just suck at math, I think you are the one who needs to get a clue.

Why is it then that people that balance their checkbook on a regular basis get hit with fees also??

Look around here, see how many wells fargo complaints there are, and then look to see how many complaints about other banks there are. The reason wells fargo has the most is because they are the worst when it comes to this sort of thing.

They are unreliable, process items differently to give themselves extra money, and are rude to their customers that don't keep extra thousands in their accounts they cannot sip away, this is not speculation, this is truth. I have had wells fargo lose 2 deposits, lose a wire transfer for $500, which magically showed up at the other bank 2 weeks late, process cash deposits on the same day after when made after 5 pm, then the next time made at 4:45 pm didn't post until the following day.

Yeah, wells fargo has no fault at all, you need the wool to be pulled from your eyes. They suck, other banks are lightyears beyond their customer service and satisfaction, and until they get their head out of you know where they will always suck, thats why I took my business elsewhere, and if anyone wants to file a class action suit against wells fargo I would jump right on it.

And don't try to school me about simple math, I was an engineering major.

Hmm, yeah, that must be why, we all just suck at math, I think you are the one who needs to get a clue.

Why is it then that people that balance their checkbook on a regular basis get hit with fees also??

Look around here, see how many wells fargo complaints there are, and then look to see how many complaints about other banks there are. The reason wells fargo has the most is because they are the worst when it comes to this sort of thing.

They are unreliable, process items differently to give themselves extra money, and are rude to their customers that don't keep extra thousands in their accounts they cannot sip away, this is not speculation, this is truth. I have had wells fargo lose 2 deposits, lose a wire transfer for $500, which magically showed up at the other bank 2 weeks late, process cash deposits on the same day after when made after 5 pm, then the next time made at 4:45 pm didn't post until the following day.

Yeah, wells fargo has no fault at all, you need the wool to be pulled from your eyes. They suck, other banks are lightyears beyond their customer service and satisfaction, and until they get their head out of you know where they will always suck, thats why I took my business elsewhere, and if anyone wants to file a class action suit against wells fargo I would jump right on it.

And don't try to school me about simple math, I was an engineering major.

I am tired of all you customers who complain about fees, especially overdraft fees, you all need to take a math class and learn how to add and subtract. The bank has online banking, automated telephone service, live representatives 24 hours a day, and the branches to help you understand your account.

I hear the same complaint every day 30 to 40 times through out the day, but it is the customers error because they don't take the time to keep track of their debits they just assume the bank is their bookkeeper and they do not have to be adults and be responsible for themselves as account holders.

So I think all of you need to go to the nearest branch or call the customer service center and set up online banking, request a checkbook register and also get a copy of you account disclosure and sit down and read and grow up and be responsible for yourself and managing your accounts.

Wow, another immature response from a wells fargo employee, you guys must really have high standards for hiring your emplyoees, lmao. Lets face it, you know as well do other people know they set up the system like that for a reason. Debits run as 'credit' drop off your balance for a day or two then show up out of the blue. Anything they can do to get more of your money through overdraft charges the better. I know of several other institiutions that have an online system that shows what transactions were placed and the balance reflects what is really going on, even if they were credit or debit. None of this I have $100 today and $300 tomorrow crap. But, Wells Fargo is making too much money off everyones 'in a hurry' and I don't have time to write down every single itty bitty transactions. They take advantage of it bigtime, and you employees cannot deny that. They are making nearly a 1200% profit on $2-$10 transactions. As long as people are 100% aware that they do that you can avoid that, but there still is going to be a fair share of people that do not realize this.

Spoken quite beautifully. I wonder if truer words have EVER been spoken. If I believed that anybody understood why people do these things, I would believe that person is you. I cannot imagine how the banking system would function if the actions of the customers were in accordance with your statements above. I wanted to make a recommendation to you. A book titled "The Richest Man in Babylon". It is a quick read, and I believe you might enjoy it.

Cheers!

Spoken quite beautifully. I wonder if truer words have EVER been spoken. If I believed that anybody understood why people do these things, I would believe that person is you. I cannot imagine how the banking system would function if the actions of the customers were in accordance with your statements above. I wanted to make a recommendation to you. A book titled "The Richest Man in Babylon". It is a quick read, and I believe you might enjoy it.

Cheers!

Spoken quite beautifully. I wonder if truer words have EVER been spoken. If I believed that anybody understood why people do these things, I would believe that person is you. I cannot imagine how the banking system would function if the actions of the customers were in accordance with your statements above. I wanted to make a recommendation to you. A book titled "The Richest Man in Babylon". It is a quick read, and I believe you might enjoy it.

Cheers!

I have worked for several large financial institutions, including BofA and Wells Fargo. It never ceases to amaze me when I speak with people who yell and scream at me about overdraft fees being assessed on their account. With FEW exceptions, 98% of all overdrafts are the customers fault. Common excuses include the following:

1. The ATM said I had XXX.xx in my account and now its gone!
2. It shouldnt have let me make the transaction if I didnt have the money.
3. The bank made a mistake, I know my money is there.

The sad truth is this. Banks and regulated by the government, not MANDATED. They are a business just like any other. Every bank charges an overdraft fee when you use their money. If you cant handle recording your transactions, I suggest you go on a cash only basis. The attitude in America has always made "Convenience" an important part of marketing to earn business. Unfortunately, too many people now think that anything that "inconveniences" them (ie recording what you spend YOUR money on) is a bad thing and they avoid it like the plague. Banks make more money off of one concept more than anything else.

LAZINESS.

Laziness to record transactions. Laziness to paydown anything more than the minimum payment on a credit card. Laziness to spend 30 years making payments on a single house, when one extra payment a year would have cut the 30 year mortgage in HALF and saved the owner THOUSANDS. Laziness to save for emergencies to avoid last minute payday loans.

Grow up people. I dont care if you didnt graduate high school, adding whole numbers should have been learned in 1st grade. If you make a purchase for 45.58, round it up to 46.00.

Record the 46.00 for that transaction

Round every transaction UP to the next nearest dollar.

Save the money left over in you account for the next time you get lazy and incur an overdraft fee.

Get a clue

I completely understand what you are saying. However, the internet banking that is offered is purported to be a way to "keep track of your spending." I *was* doing that. I check my account frequently to ensure that I am *not* spending what is *not* there. However, discrepancies evidently occur over balances that are reported to customers as "available" and balances that are actual. This is at the heart of my complaint. Mulitudes of complaints on this site revolve around the same issue.

My contention is that some responsibility needs to be harbored by the banking entities. If technology does not allow banks to have the ability to reflect true balances (I must reveal here that I RARELY write checks anymore--perhaps one or two monthly), then how am I to be responsible for relying on their information services. Their systems are what allow a debit card to be used repeatedly, despite the fact that the balance does not allow such.

My stupidity caused me to rely on the site. However, the bank's inability to properly educate their customers on the use of the word, "pending," and "available balance," and on how their banking systems treat such information when providing a website for which customers are urged to use to fulfil their banking needs also should be accounted.

Mark-

You said you have seen many postings here with the same problem. If you read the rebuttals and comments to them you should've seen that you are responsible for maintaining your own balance. If you process debit card transactions you need to track them like a check that you wrote in your check register.

The fact you overdrafted at all says you had no idea ehat you had spent. Dep4ending on where you write a check or process a debit can have a bearing as to when a transaction will hit your balance.

Don't be upset at the bank no matter what bank you are with you are responsible yo not spend money that you do not have,