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Wells Fargo Bank / online bill pay

1 GA, United States Review updated:

I was a long time customer of Wachovia Bank. The most important feature was my flawless online banking experience. As I learn now they were a rare find. You entered your bills to be paid by the date you needed them paid. This kept you from having to guess as to when your payment would leave your account and when the money would make it to the payee. If a paper check needed to be mailed, Wachovia gave you an estimate as to when the payment would be received by the payee. Most important, the money did not leave your account until the check was presented to the bank for payment. The accuracy in which they had the timing was unbelievable. I never had a payee get a mailed check before the payment date I entered.

Now with Wells Fargo, not only do they not get the check in a timely manner; but they can barely get my electronic payments out on time. Why does it take so much longer for payments to reach billers opposed to my old bank? I am just another loyal Wachovia customer looking for a better bank to call home. This is another example of a company buying out a business and failing to do their home work. They should have taken the best of both banks and built one better bank. Instead they just made one big flawed Wells Fargo.

Thanks for letting me vent

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Comments

  • Gr
      21st of Nov, 2010
    0 Votes

    I noticed wells fargo shows the payment being made but not posted to account until 3-5 days later...giving a false balance. RUN!!!

  • Pr
      22nd of Nov, 2010
    0 Votes

    They suppress anything that interferes with them stealing your money. Credits are held 3-5 average, Payments are deducted and held to overdraw the account. Deposits appear to be credited to the account through the online system. However, if you go to the atm machine this is where things get interesting. You must create a record keeping trail that covers ATM printouts daily, Online Printouts every 6 hours and this includes everything from deposits, withdrawals, checks, bills paid, transfers, etc. Nevertheless, you are leaving so that is good. Do not bank online because it is one other way for them to steal your time and confuse. Old fashioned way ledger is the best and keep your balance in the bank low and manageable. If you can stay away from direct deposit because that only helps the employer not have to pay bank fees for the business. Deposit cash when you can and print out the atm receipts and ask for a small account summary from the clerk regularly and start protecting yourself. I will handle wells fargo after I take care of this investigation and suit of this other bank that has been almost 3 years of work... for fraud... All the best..
    PofthePeople

  • Wi
      24th of Mar, 2011
    0 Votes

    I too have just read the Wells Fargo online billing policy, where they state that money that I send to payees is deducted on the "send" date, rather than the "pay" date. Can someone explain how this can be legal? If the bill hasn't been "paid", where is the money that was deducted on the "send" date - 5 days earlier. Example: You get paid via electronic deposit on the 28th of the month. Your mortgage is due on the 30th. Under Wells Fargo, you will be late on the mortgage payment, because you can't send it 5 days earlier, like you could with Wachovia, because they will deduct the payment when you send it, not when your mortgage company receives it. So where is all the money (from hundreds of thousands of customers) that apparently is taken from the account when they "send" it? Do they physically take it from your account and mail it? Obviously not. This is just another example of a big bank out of control. Given all the complaints I've read about Wells Fargo, I'm looking for another bank.

  • Pe
      16th of Jul, 2011
    0 Votes

    If Wells Fargo intends, as they say, to make sure that money is available in your account when an online billpay check they send eventually clears, they could put a hold on the money. They know how. They do it with credit card authorizations and the like.

    But obviously their intention is to get free use of your money into their float. I call it stealing.

    That is why my account will be closed before the end of this month.

    It used to be that people had a bad opinion of used car salesmen. Bankers and the thieves on Wall Street take top rating now. I'd trust a used car salesman with my money a lot faster than I would anyone in the banking and financial industry.

    By the way - when I told the officer at Wells Fargo why I was closing my account, she said go ahead - she did not care.

  • He
      16th of Jul, 2011
    0 Votes

    I'd trust a banker about as far as I could throw them. And you know how fat and heavy the majority of them are.

  • Ho
      20th of Oct, 2011
    0 Votes

    I loved paying by bills on line with Wachovia. What computer programer ### came up with the extremely unfriendly bill pay system for Wells Fargo???? I hate it! And, I couldn't get a straight answer from the "customer representative" as to when are funds subtracted from my account and when does a payee get paid??? It is a nightmare! I have so many accounts with Wells Fargo, but I am going to start closing them out as fast as practicable for me (with direct deposits, etc, etc.). What a nightmare!

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