Complaint Review: Wells Fargo Financial - des moines Indiana
- Wells Fargo Financial 800 walnut des moines, Indiana United States of America
- Phone: 1-877-906-6055
- Web:
- Category: Loans
Wells Fargo Financial Wells Fargo took money from my checking account! des moines, Indiana
*General Comment: You were notified...
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Wells Fargo took money from my checking account without a judgement to pay a line of credit loan I defaulted on. They said it was an "offset". There was no notice given and over $700 was taken. It caused my mortgage payment to bounce as well as other checks. They then charged me over draft fees for the checks that couldn't be paid because of money they took! My lawyer showed me a tiny clause in the line of credit agreement giving them the right to take monay from any account at wells fargo to pay off any personal loans that were defaulted on. He said it's a sneaky move some banks use to take advantage of an offset law that allows escrow accounts to be funded with existing accounts at a bank. It should not apply to bad debts.
Warning!!! If you have defaulted on any loan to wells fargo do not keep any money in their bank, it will be taken without notice or judgement. I am currently attempting to sue the bank and will update with any results.
This report was posted on Ripoff Report on 06/02/2010 10:37 AM and is a permanent record located here: https://www.ripoffreport.com/reports/wells-fargo-financial/des-moines-indiana-50309/wells-fargo-financial-wells-fargo-took-money-from-my-checking-account-des-moines-indian-609499. 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 General Comment
You were notified...
AUTHOR: Edgeman - (U.S.A.)
SUBMITTED: Wednesday, June 02, 2010
Check your account agreement. Virtually every bank exercises the right to offset, which is taking money from one account to cover a shortage in another account that is somehow linked to the first one. We typically see complaints about this when the bank takes out money to cover a family member or business partner's shortage.
This is a policy I happen to oppose but the disclosure is there.


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