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Report: #433372

Complaint Review: Wells Fargo - Internet

  • Submitted:
  • Updated:
  • Reported By: Auburn Indiana
  • Wells Fargo Wellsfargo.com Internet U.S.A.

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I somehow managed to receive 80 overdraft fees in the last year because of the way they post items online. Sometimes you will see somthing 1 day and it will be gone the next which is very confusing when you are trying to balance your check book. I had worked out all overdraft fees with my local branch and they had opened up 2 more checking accounts for me 1. to pay bills and the other just for my daily expenses. This was working out great until they closed my accounts. Anyway I was never notified of my account being frozen. 2 days ago I tried to use my card to buy food for me and my kids and my card was declined. I knew I had money in the bank due to my taxes being deposited previously. So I called the 800# on the back of my card and spoke to a customer service rep and they responded and said that I need to call loss and prevention for any further updates. So I called the number given and was told that my accounts are frozen and that I am unable to withdraw any money until March 24th. My husband's and my paycheck are automatically deposited in our account to pay bills and now for the next 2 weeks I am not allowed to touch any money or pay bills. I explained that I think this is unfair practice and that they cannot withold any money to me expect for my pending items. I have no money for gas or food and no money to make my weekly mortgage payment. They did not care and were vey rude on the phone. So basically sorry about your luck. If I would of known that they were going to close my account because of my previous year experience I would of transferred everything over prior to this. I want someone to do something about the way there policies works especially with theses trying times right now. I sent an email to the CFO and also filed a complaint with the FDIC. I am totally outraged

Tammy
Auburn, Indiana
U.S.A.

This report was posted on Ripoff Report on 03/12/2009 08:20 AM and is a permanent record located here: https://www.ripoffreport.com/reports/wells-fargo/internet/wells-fargo-frozen-account-internet-433372. 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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#4 Consumer Comment

Here is your problem...

AUTHOR: Robert - (U.S.A.)

POSTED: Thursday, March 12, 2009
"....I somehow managed to receive 80 overdraft fees in the last year because of the way they post items online. Sometimes you will see somthing 1 day and it will be gone the next which is very confusing when you are trying to balance your check book..."

You were relying on on-line banking as your check register instead of keeping one yourself. On-Line banking is a "snapshot" in time of what is happening with your account. Which is why things seem to disapear and re-appear. They are holds being placed/removed and actual charges being put on your account. On-Line banking was NEVER meant to be the sole(or even primary) method of managing your account. However, over time people have gotten lazy(yes lazy) and figured they could stop managing their account. Instead of doing what people did before and keep their own register. On-Line banking does not know what you have spent until it is submited by the merchant. This could be 2-3 days AFTER you spend the money. It does not know you have written a check until the bank receives it, again this could be a week or so after you wrote it.

Now as to them freezing your account, they do have the right to do that. The reason you were not notified is because you would have taken all of the money out, which defeats the purpose of the freeze. The reason for the freeze was the fact you had 80 OD's which could raise some flags on your account. The hold is more of a Stop Loss situation. They want to make sure that no other "pending" items or checks hit the account before they give you the money back. This is why they gave you a date of March 24th, which gives this about 2 weeks.

The best thing I can suggest is that when you do open up another account. Open up one only. If you keep an accurate register, handling 1 will be much simpler. The second thing is to cut up the Debit card and throw it away. Go back to using Cash for your small purchases, and checks for the larger ones. A Debit Card is a convinience, but can be a fee hog if you do not keep on top of your account. Then use the On-Line banking as a VERIFICATION to your register. If you use it as your sole method of balancing your account you will run into the same problem again.
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#3 Consumer Comment

Not exactly.

AUTHOR: Flynrider - (U.S.A.)

POSTED: Thursday, March 12, 2009
"I somehow managed to receive 80 overdraft fees in the last year because of the way they post items online."

Nope. You have overdrawn your account 80 times because you cannot keep an accurate record of what you are spending. It is mathematically impossible to accrue overdraft fees solely because of how items are posted. You must first overdraw the account. While you claim to be balancing a checkbook, you state that the online feature is messing you up. You should not be relying on data you see online for determining what your real balance is.

A well maintained check register is all you need. I've had people tell me that this is not possible, until I remind them that people successfully balanced their checkbooks for over a hundred years before online banking was available.

Accumulating 80 overdrafts in a year is going to make just about any bank shut down the accounts, although I do agree with you that they should have notified you.
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#2 Consumer Comment

Not exactly.

AUTHOR: Flynrider - (U.S.A.)

POSTED: Thursday, March 12, 2009
"I somehow managed to receive 80 overdraft fees in the last year because of the way they post items online."

Nope. You have overdrawn your account 80 times because you cannot keep an accurate record of what you are spending. It is mathematically impossible to accrue overdraft fees solely because of how items are posted. You must first overdraw the account. While you claim to be balancing a checkbook, you state that the online feature is messing you up. You should not be relying on data you see online for determining what your real balance is.

A well maintained check register is all you need. I've had people tell me that this is not possible, until I remind them that people successfully balanced their checkbooks for over a hundred years before online banking was available.

Accumulating 80 overdrafts in a year is going to make just about any bank shut down the accounts, although I do agree with you that they should have notified you.
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#1 Consumer Comment

Not exactly.

AUTHOR: Flynrider - (U.S.A.)

POSTED: Thursday, March 12, 2009
"I somehow managed to receive 80 overdraft fees in the last year because of the way they post items online."

Nope. You have overdrawn your account 80 times because you cannot keep an accurate record of what you are spending. It is mathematically impossible to accrue overdraft fees solely because of how items are posted. You must first overdraw the account. While you claim to be balancing a checkbook, you state that the online feature is messing you up. You should not be relying on data you see online for determining what your real balance is.

A well maintained check register is all you need. I've had people tell me that this is not possible, until I remind them that people successfully balanced their checkbooks for over a hundred years before online banking was available.

Accumulating 80 overdrafts in a year is going to make just about any bank shut down the accounts, although I do agree with you that they should have notified you.
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