Wells Fargo Bank, Bank debits adult son's acct for parents NSF charges Santa Clarita, San Francisco California
My wife and I decided to change our checking account from Wells Fargo. with no money in the account Wells Fargo continued to pay accounts such as LA Fitness and debit our account for NSF and contining NSF fees. After deducting over $300 in their fees and $200 dollars in payments from an account with zero funds available; they unilaterally decided to take the funds from our 27 year old son's account.
He hasn't lived at home in years, works for himself and has his own finanacial obligations. They have a legal right to do this. It's remarkable. I don't care if the name is Clinton, Bush or Obama - the real ones running this country is money people. They are unethical, immoral and corrupt. Our politicians are nothing else but spokepersons for them.
Wells Fargo is a disgrace.
Tpc0516
Santa Clarita, California
U.S.A.
11 Updates & Rebuttals
Edgeman
Chico,California,
U.S.A.
Man, I really hate that "Right To Offset"...
#12Consumer Comment
Mon, April 27, 2009
I just hate that policy. Someone could easily wake up and find their account balance drained through no fault of their own.
Karl
Highlands Ranch,Colorado,
U.S.A.
Go to the- 'BANK OF AMERICA' page of this site and read........
#12Consumer Comment
Mon, April 27, 2009
all the Ripoff Reports!
There are many poems available as 'Updates' to the Ripoff Reports at the- BANK OF AMERICA page of this site!
SPREAD IT ALL OVER THE WORLDWIDE WEB!
Northwest
Gresham,Oregon,
U.S.A.
I'm wondering
#12Consumer Comment
Mon, April 27, 2009
From your report I can not determine if you simply took your balance to zero with an open account, of if you took out the money and then closed the account. There is a difference.
Adr123
City Land,California,
U.S.A.
John
#12Consumer Comment
Mon, April 27, 2009
You are absolutely right. I am 100% sure that TPC has an open joint account with his son. Otherwise, it would be IMPOSSIBLE for ANY bank to touch his sons account.
Adr123
City Land,California,
U.S.A.
Robert...
#12Consumer Comment
Mon, April 27, 2009
Robert, I apologize. My information was actually meant for tpc0516
John
Califon,New Jersey,
U.S.A.
I'm pretty sure Robert understands right to offset
#12Consumer Comment
Mon, April 27, 2009
so I don't see why he needs a lecture. He was asking the original poster IF their name was attached to their son's account. Because, as you fail to mention, if it is not then they can't touch it which is the whole point.
Adr123
City Land,California,
U.S.A.
One more thing Robert...
#12Consumer Comment
Mon, April 27, 2009
Banks do not take it upon themselves to pay your bills. When a customer sets up an automatic payment with a company such as LA fitness, it is that customer's responsibility to cancel that automatic payment when they are cancelling their services. LA fitness is simply asking that you pay what you owe them and the bank is paying them just as you asked them to. If Wells Fargo had not paid LA Fitness, LA fitness would have gone after you and added their own fees and perhaps sent your account to collections.
I see a pattern here... Robert, sometimes you have to look at yourself and what YOU are doing. Until you do that, you will continue to have problems such as this and will continue to feel victimized.
Adr123
City Land,California,
U.S.A.
Hi Robert,
#12Consumer Comment
Mon, April 27, 2009
When an account is overdrawn, most banks reserve the right to have their money paid to them. Unfortunately, Banks are a business and in order to continue to stay in business they have to make a profit.
Having said this, it would be impossible for a bank to stay in business by allowing people who are overdrawn to remain overdrawn when it looks like they have no interest in paying their debt back.
Right to set off is a system in which the bank has the right to withdraw the money from any one linked to your account. By linked I mean, anyone who you have an account open with. For example, if you and your son have ONE account together, the bank is able to take the money from one of his accounts if you decide not to pay what you owe. Normally, right to set off will go into effect once an account is overdrawn for 17-55 days. Your best bet if you dont want this to happen is to either close any joint accounts that you have with your son OR dont leave your account overdrawn for a tremendous amount of time. All this information can be found in your account disclosures.
Lastly, since you are responsible for your account and the money that was owed by you and has now been taken from your son, I would suggest that you pay him the money that YOU owe him.
Striderq
Columbia,South Carolina,
U.S.A.
I agree with Robert...
#12UPDATE Employee
Sun, April 19, 2009
The question here is does your son's account have just his name on it or are you or your wife listed on it as an account owner? Unfortunately if you or your wife are on it the bank can use right of offset to recover the balance owed on the other account. But if neither of you were on the account the bank can't take the money.
Robert
Irvine,California,
U.S.A.
I didn't see...
#12Consumer Comment
Sun, April 19, 2009
The OP did not state directly if they were on their Son's Account or not. If they were then the "Right of Offset" may come into play, and it would most likely be legal. But if the OP was not on their Son's account in any way then yes it is 100% illegal and Wells Fargo could be in some serious trouble.
Robert
Buffalo,New York,
U.S.A.
Not legal.
#12Consumer Suggestion
Sun, April 19, 2009
NO, it's not legal at all and they should know it.
Your SON needs to address this with them IMMEDIATELY. All he need do is explain that he does NOT reside with you and that he demands the monies be restored into his account immediately. I would make such a demand in person at his local branch-handing a demand letter to the bank manager and follow up with a certified, return receipt requested letter the same bank manager.
Know this: I am assuming that neither you or your wife are connected to HIS account. In other words, his account is a SOLITARY account with no others listed to use the account.
If necessary, your son may SUE THE BANK as well as file formal complaints with regulatory agencies.