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Wells Fargo Bank / your practices are a disgrace to those of us who sincerely are trying to stay afloat in these times of financial hardship

1 United States Review updated:

I am pasting the letter that I am sending to the corporate office-office of the president: dear wells fargo bank, subject: overdraft fees and charges I just want to say that after 19 years of banking with you, first as a primerit bank customer then wells fargo bank, I never thought I would be leaving. I realize I am not leaving you under good terms, as for the past year we have experienced tremendous financial hardship and have managed as best as we could. Due to another bank's predatory lending practice our finances turned around very quickly. That case is in the hands of our attorney, (Info included) your bank is the straw that broke our backs. Because of your practice of $35.00 for each returned check and then a $5.00 daily overdraft charge, we are losing our automobile and our automobile insurance. Every time I turn around there is another overdraft, another returned check and on and on until I am nauseous. I have finally had it. I routinely, in the last several months, paid your fee for a direct deposit advance so I could attempt to maintain a positive balance. Earlier this month I even transferred in a $xxx deposit from our local bank, hoping to stave off more fees. Sadly, this was not to be. The us treasury deposited the $xxx into our account; you took out the $500.00 direct deposit advance plus your fee of $50.00, which I agree to so I don't dispute that, and I still end up with a negative balance! Today I called and spoke to a representative by the name of jefe (Sp?) who stated he would try to get "someone" to reverse some of the fees and charges so that I could have a positive account balance. I said that was fine, as I intended to do another direct deposit advance for another $500.00 so I could pay my car insurance and my car payment. He came back on the phone and advised me that, unfortunately, no fees would be waived and that was that. By this time I was literally crying while speaking to him, so I hung up and attempted to compose myself. I called back again and spoke with a young lady by the name of alex. I asked her where I could find the forms online to close my accounts. She advised me that with a negative balance I could not close my account (S). I told her that I was making the arrangements to have the xxx checks be diverted to another bank, so I wanted the forms for when that happened. She had to transfer me because she did not know where the forms were. By this time, I am getting upset all over again so I asked for a supervisor. I got transferred to nicole who first told me the account closure forms were not available online and I would have to close the accounts in writing by mail. That was fine by me, since I am closing them sometime after the may xxx deposit posts. She then found the form and walked me through finding it. I asked nicole if there was any way she could either unfreeze the account to allow me to do the direct deposit advance or waive some fees to put the account in the positive. Again, the answer was no, unless any could be disputed as a bank error. Well, there is actually a bank error. Why is it that if I have "auto pay" on wells fargo bank credit cards and your bank knows the funds are not in the account, do you still process the payment, then charge the $35.00 fee, and sometimes re-submit and charge again knowing the funds are not there? Why not send an e-mail stating that you are unable to make the payment because the account has insufficient funds? I realize that by now my business is worthless to you because of the negative account status and the non-payment of credit cards. It is not in our power to make money where there is none. It is not in our power to reverse our fortunes, either. And, I am sure you know that I am not the only dissatisfied wells fargo bank customer out there. Read / link removed / and you will see over 1300 complaints against wells fargo bank and their various entities. My complaint will be there as well. The tarp funds you received are in direct contrast to the way you treat your customers. For this reason, president barak obama is receiving a copy of this letter. The attorney general for the state of nevada is receiving a copy because that is where my accounts are located. The better business bureau is also getting a copy of this letter, as well as a complaint filed. For 19 of the past 20 years I have banked with you I have had very few problems, and a few that happened were of my own making. This past year has been a nightmare, both personally and with your bank. I can not say I will be sorry to part company with your institution. Your practices are a disgrace to those of us who sincerely are trying to stay afloat in these times of financial hardship. Being the victim of a predatory lender did not help. Your bank's lack of understanding does not help. I want to use money that is directly handed over to you to try to keep a positive account balance and yet you refuse the offer, as well as your $50.00 fee for the use of our money.

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  • Mo
      10th of Jun, 2011
    -3 Votes

    OP, use paragraphs please, will make your post much easier to read. Sorry for what you're going through, but it does sound like you brought it on yourself. The bottom line is you are responsible for what happens with your ask why if you have auto payment and they know the money isn't in the account, do they still take it instead of emailing you. As a famous tennis player used to can not be serious! It is your job to have the money in your account to cover your auto payments, after all, you signed up for AUTO pay. About Obama...sorry, but I'm LMAO too.

  • Ir
      10th of Jun, 2011
    -2 Votes

    I made it through the whole complaint. You can definitly send the letters and complaints to the attorney general and every internet site available, but I'm not sure how much luck you'll have with reaching the President himself.

  • Ro
      24th of May, 2012
    0 Votes

    My parents applied for a refinance home mortgage loan, they supplied all the information, then was told to have a survey& appraisal done, which cost them some money.Then Wells Fargo tells them they don't qualify financially, Wells Fargo has some incompetent people working in the mortgage department. Should they have not told them they did not qualify before they had the survey done? The loan officer told them there options on payments, which would be considerably lower then there current payment, and again they have never been late in 25 years, which they had refinanced years before for home improvements, then asked them to do the survey, should they have know that they qualified before the survey?

  • Ma
      30th of Jul, 2012
    +1 Votes

    Hi Hintare! I read your comment. I work for a nonprofit national organization, the Center for Responsible Lending. We're looking for firsthand stories from borrowers who have had bank payday loans, and I would love to hear more about your experience with Wells Fargo direct deposit advance. You can submit a story on our website, responsiblelendingDOTorg, or contact me directly at madisonDOTswoffordATresponsiblelendingDOTorg or 919-313-8567. Hope to hear from you!

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