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Wachovia Bank Aka Wells Fargo / Overdraft Charges

1 PA, United States Review updated:
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Whatever you do; do not do business with Wachovia aka Wells Fargo Bank. After the Wachovia and Wells Fargo Merger instead of customer service getting better; it actually has gotten horrible. I called to find out what happened to my checking account and why I was charged an overdraft fee of $35.00. I basically was talked to by three men in the customer service department like I was trash. All three men I talked to on the telephone were loud, rude, and condescending to me. And when I tried to explain to the fourth representative what happened and that I wanted to file a complaint he basically tried to get sympathy from me by telling me how he gets treated by angry customers over the telephone! When I explained to him that each customer has to be handled on a case by case basis and that representatives can’t be mean to every customer on the phone because of a few bad apples, he hung up on me!

The Wachovia/Wells Fargo Bank has so many slick ways to get money out of the customer it is ridiculous. Even with recent laws on overdraft protection going into effect on August 16, 2010; they are still fleecing unsuspecting customers. But what the banks don’t realize is that they are losing customers by this treatment. Not only did I join this forum to file my complaints; but also to help people from being victimized by this bank the way I have been. Because the more knowledgeable we all become about their underhanded fee practices; the more likely we all are to take our business elsewhere.
Basically I was told that an automatic debit for $20.00 put me in the hole and triggered three more insufficient fund charges. It turns out that when I went online to check my account and make sure I could make some additional online charges; this $20.00 automatic debit which appeared to be withdrawn from my checking account already, actually wasn’t taken out of my checking account until the following day between midnight and 7:30am! And I only received this information after asking one of the rude service representatives what time they took this money out my account. He got an attitude and initially refused to tell me and then he told me the deal. Thank goodness he got upset and told me in a loud and rude manner; or I would have never discovered another slick way the banks fleece customers. After calling three more times I discovered that if I don't make a cash deposit by 2pm tomorrow, that I will be charged an additional $105.00 in overdraft fees. This would make it a total $140.00 in overdraft fees for a $20.00 automatic debit that appeared to be out of my checking account when I went online, but it actually wasn't. The other three charges in question would not get an Insufficient Funds Charge if Wachovia aka Wells Fargo had not back dated and charged me the $35.00 fee triggering three more insufficient charges.
I hope I am making myself clear because I am so upset right now, I could just scream.
What you should know when dealing with Wachovia/Wells Fargo Bank:

1. They will do anything to get a $35.00 fee from you. And when they are wrong you are lucky if they offer to credit you $18.00 of the fee back.

2. To find out the status of your account online or if you have a question about a particular item; you must call the 800 customer service number and find out if the item has been taken out of your account.

3. For some reason the men have been ruder and less helpful than the women I have experienced in person and over the telephone; so try to talk with a woman if you can.

4. If you account is in jeopardy of receiving an Insufficient Funds Fee; if you can get the money in by 2pm the next day you may be able to avoid it.

5. Charges in parenthesis ($32.00) denote that you are in the red and will soon be charged a $35.00 fee for each item in parenthesis if you don’t see the insufficient funds fee charged to your account.

6. Items that appear to have been posted to your account may not actually be taken out of your account until the following morning between midnight and 7:30am because it is on hold. So for example, you may see $125.00 on hold for Monday. You are assuming it is out of your account because the amount is reflected in your balance online. So say you have $500.00 in your checking account. You make a payment for $125.00 using your debit card. You see in the hold section that there is a hold for $125.00; and you see that your available balance is $350.00. Well the hold has not actually posted to your account yet until Tuesday between midnight and 7:30am. So if you have made charges or ATM cash debits before or after this $125.00 charge, you may not be in the black because of this deceptive practice. You have to actually call the 800 number and find out where you now stand with this $125.00 before you make another move on your account. So the conversation would go something like this. Hello I am checking on a debit I made for $125.00 and I want to know the status of this transaction. Is the $125.00 dollars posted to my account and if not when will it be? And while I have you on the phone I would like to check the status of some other items on hold and some other purchases I recently made. Then you give the service representative your recent transactions and find out the status on each one.

7. I also believe that every person should have a checking account with at least two banks, so you can pick and choose whom to deal with at any given moment. I am in the process of making PNC Bank my main banking account because I am tired of the rip off games of Wachovia/Wells Fargo. I am also looking into getting an account with TD Bank (formerly Commerce) because it appears they have continued to provide great excellent service to the customer as well as convenient access after the merger.

8. I will be back on this forum with more Tales of the numerous nightmares and indecencies I have suffered through with Wachovia/Wells Fargo Bank over the last year. I have only just begun. You will hear stories about a replacement ATM Card; a lying bank executive; and the run around you get when you try to file a complaint in-house with their Bank.

Good Luck and Watch Your Back with Wachovia/Wells Fargo Bank.

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Comments

  • Sl
      12th of Oct, 2010
    +1 Votes

    Wells Fargo is well known for their outrageous overdraft fees, siphoning their clients fiances. I would close your account, and find a more reputable bank. I was never good at dealing with my fiances. I got a pre- paid card, and paid my bills with cash or money orders. Thus, I no longer deal with over draft charges anymore. Or, I can pay them with my pre-paid card online... When I go shopping with cash, and take a set amount, it helps me to only spend on what I need, and not to over splurge. It boggles my mind the amount that banks are making on overdraft! I, for one, am no longer going to feed that beast!

  • At
      12th of Oct, 2010
    0 Votes

    You are assuming it is out of your account because the amount is reflected in your balance online...

    Seriously how hard is it to keep a register? It's your responsibility to keep track of your finances... the banks don't need to be your personal babysitter...

  • Sl
      12th of Oct, 2010
    0 Votes

    Over draft charges are a lot more than the few dollars I use to pay for a pre paid card, or cash. I realize that is a flaw I have, and I have done something to control myself. Let s say I am going to go grocery shopping, if I take fifty dollars that is how much I can spend. If I have a credit card/atm visa card, I can make an impulsive buy. I am impulsive, this way helps to control this. Not to mention, banks, make a lot of money on over draft charges. In some cases, such as Wells Fargo, many times their charges are unfair. They will charge you a fee if you get below a certain amount of money in your account, and than they start charging overdrafts after they have taken the account low balance fee. It is ridiculous what banks get away with. I realized after dealing with these issues I was not good at keeping track of my money, and thus found a way to help control my spending. If I want to save up for something, I give the money to my boyfriend who is great at saving money. When we get married, he will deal with the fiances, since I suck at it! : )

  • Sl
      12th of Oct, 2010
    0 Votes

    Sometimes you have to realize your problems, and do whatever needs to be done to correct them. Most of the time, my impulse buys are for my kids, but then if you spoil kids to much, they don't have an appreciation for the money you do spend on them... I wish I had the control my boyfriend does! He can save money like nobodies business. That is why, I give him the money to save for the school I want to go for. That way, I cannot spend it, or anything else!~ : )

  • Sl
      12th of Oct, 2010
    0 Votes

    The adds are really annoying! Can't we do anything to get rid of them?@!

  • 1x
      12th of Nov, 2010
    +1 Votes

    For those that constantly remark to keep a check register, allow me to give you a little tid bit on just how the new Wells Fargo program has worked for me, a CPA that has NO problem keeping a register. Because of their merger, my automatic deposits and payments were not done correctly. I have had these items set up for 5 years. They withdrew the money 6 days before I had authorized it and then held my deposits for an additional 3. I have had very good credit for the past 10 years, and have NEVER had an overdraft. Because of THEIR unethical accounting practices, they tried to charge me almost $300 in overdraft fees. The poor, uneducated, and obviously unhappy, sales rep tried to give me the same song and dance about keeping up with my register. Then I pulled out my accountant badge from the firm I work for. I also pulled out my register and the past 6 months of my transaction schedules. I then told her that my check register is correct and that I knew how to run circles around little uneducated brats such as herself and I would gladly give her a lesson in personal finance in addition to customer service 101! My branch no longer has any of the original tellers and managers as before. I have 2 business accounts, 2 checking accounts, 2 savings accounts and a credit card through what is now Wells Fargo. Or at least I did until today. I am happy to say that I went down to my branch this morning completely dressed for success. Waited patiently for an hour and a half before I was seen by a branch manager and told her I wanted to close my accounts. She pulled up my information and asked which one I was closing. Her mouth fell open when I told her ALL of them. They did not have enough money in the bank to give me cash and so I was given a cashier's check which I promptly took to Sun Trust. Now if they treat upstanding and well educated financially stable customers this way, I could only imagine how they treat the hardworking, hand-to-mouth customers that are more abundant.

  • Se
      12th of Nov, 2010
    0 Votes

    CANCEL YOUR CARD NOW! DO NOT WAIT! I MEAN IT! READ WHAT IS BEING WRITTEN BY THOUSANDS OF US! CANCEL IT NOW! I promise you, they WILL take more out later. They have to me. I'm in Seattle, Washington.

  • Se
      12th of Nov, 2010
    0 Votes

    MY BANK SAID THAT IF ENOUGH OF US COMPLAIN THIS COMPANY CAN AND WILL GET IN TROUBLE BECAUSE THEY DON'T WANT TO GET IN TROUBLE WITH VISA OR OTHER CREDITORS THEY HAVE TO USE. SO PLEASE, PLEASE, PLEASE PASS ON THE INFORMATION AND COMPLAIN! AND DON'T ORDER ANYMORE ONLINE PURCHASES LIKE THIS EVER! I'm so mad at myself for doing this!

  • Rn
      14th of Nov, 2010
    +2 Votes

    Even when you read and understand the fine line of your banking contract with Wells Fargo they still manage to get there money. They will lie and keep lying about your accounts. We trust them to hold our hard earned money. And they do this to us. I do plan on leaving them. I have had enough. I am going to walk in the branch like the previous educated person and tell them to shut it down. It is too stressful to have to follow up on my bank account. I agree about managing your money, which I do quite well. But these fees are outrageous. Educated or non educated no one deserved to be ripped off.

  • Ka
      17th of Nov, 2010
    0 Votes

    Sickandtiredlady,

    I agree with you!!! I didn't have problems with Wachovia until it became Wells Fargo. The company has Very bogus charges and atrocious, ghastly customer service reps. I am a man and I spoke with a female customer service rep and she was so rude to me that it was imperative that I curse her out. That same day I opened an account with another bank and closed my account with them. It's one thing to take my money and I was at fault, but when you take my money because you feel you can and have an attitude about it, that's when I'm ready to [censored] your world up!

    And for those who say that we need to keep a check register I do, that’s how i know that the charges are bogus. So you guys can take the same cactus that I told the customer service rep to go [censored] her self with and you all can take turns.

    Sincerely,


    Loyal Wachovia Customer since 2000

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