Wells Fargo / overcharged
I was so fed up with Wells Fargo and their strange overdraft fees I began searching online for others who may have had the same situation as me. I was surprised to see how many people were complaining and relieved because I know I am not overdrawing my account and just crazy. I have had overdraft fees when my account goes low and then purchases keep moving around as to which date they actually come in. Wells Fargo internet banking keeps changing the dates or times when things post or come in. Things get moved around so that your deposits may or may not actually be entered with a correct date/time. So by moving the deposit time around on any given day, your account will go into the negative.
Here's my most recent incident.
I had money in my account and transferred my last 20.00 from savings to checking on Monday last week, 3-23-09. By Tuesday I had six dollars in my account with nothing coming in. I checked off all my purchases or bills before I left for work and checked the internet against my register. Everything had gone through. I spent four dollars for lunch. The next day I dropped in 26.00 just to spend if I wanted. All week my account was fine. Never did it show that I was overdrawn and according to my accounting I was never overdrawn. By Friday morning I had $20.89 as I knew I should. At 3:20 pm I had two bounced check fees.
What happened supposedly was that I bounced that four dollar lunch expense on Tuesday and the fees didn't show up until Friday afternoon but one of the fees was dated for Thursday. I did not see an overdraft on Thursday. Never, during the week, did my account show I was overdrawn. I could have went to the bank to talk with someone they could have corrected it if I saw the fee. How is it that a bank can consider you overdrawn but wait 3 days to let you know? I could have really messed up with having an overdrawn account for 3 days and not even knowing it because it doesn't show up for 3 days to even let me review it.
During the week all the purchases kept re-arranging themselves. I believe there is some formula that knows when I am low and re-arranges everything so I do bounce a check. I keep telling the Bank Manager that I want true accounting and whatever this is - it's not true accounting. Whatever comes in first needs to be put in the account first and whatever purchase come in first need to be paid in the order they come in. They said they pay the biggest bills first. It's my money I want the bank to be a bank. I am entrusting them to handle my money.
When a deposit hits the account in the morning and then purchases come after that deposit, they should be covered. This is not what is happening at Wells Fargo. Your deposit of cash may actually be moved to later in the afternoon and then your purchases may bounce.
I am not spending before money is in my account. I monitor my account several times a day because I have had so much trouble with Wells Fargo.
I am fed up with them. I'm tired of the bank manager telling me that I just don't know how to balance my account. I have believed for a while that there was some formula in their system that knows what to do when I am low on my account - not overdrawn - but the funds are low. I have had this bounced fee situation going on for a while and it happens about every four months and only when I am low.
I also have two bills that come into my account on a specified date. Then they drop off for a couple of days and come back in. Doesn't that seem strange? The bank blames it on the companies that I am paying and says that it is not their problem and it's really the companies that are doing this that are at fault? Ummm really? None of my other friends with banking accounts at other banks have this problem. Bills don't pop on and off at random.
I am interested in pursuing a class action suit against them as there are so many other people, on various sites, that are saying the same thing about overdrafts as well as strange mortgage situations. I am tired of being screwed by the man and then bailing them out.
I do not want to here people say that I can not balance my account. I live paycheck to paycheck like most people and manage my money to the last penny. I feel as though the people who are making sarcastic remarks probably never have had just six dollars in their account. I'm sure they have thousands and just think those of us that complain are idiots.
I'm mad as hell and I'm not taking it anymore!
Please write to the BBB and the Attorney General of your state and the Federal Trade Commission. I will be pursuing a class action suit.
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