Wells Fargo excessive fees Boise Idaho
I decided to take money out of by using a atm machine. It showed $0.00 balance. Then I went to a Wells Fargo to get a Statement and it showed that I owed -$639.00. The next day I had the bank print out a statement and it showed that from the month of March alone I received more that $700 worth of overdraft fees and being overdrafted. My purchases have a total amount of less than half total overdraft fees. I first opened up a checking account with Wells Fargo 2 years ago.
I explained that I wanted to open a student accounnt and was told that when I get my debit card, that it would only take out money that I have in my account. I made one error, that was checking the amount that was in the account which didn't show amount I payed for rent being taken off. I thought I had enough money, so I pay for lunch here and there. I went and got gas here for $5 dollars. Never once was my card declined to let me know that there was no money as agreed earlier by a representative from Wells Fargo. During that time I have incurred charges of +$700 from overdraft fees.
One day I incurred 8 od fees at ($33)per fee. Seems a bit unfair since I was told that they only would take out the money if I had any in there if not it would be declined. I remember asking them specifically that "It would only take money out if I had any in the account." If not that it would not work. Which she stated that is how it would work
Daniel
mtn home, Idaho
U.S.A.
1 Updates & Rebuttals
Mauv
Phoenix,Arizona,
U.S.A.
Wells Fargo is not at fault here.
#2Consumer Comment
Fri, March 26, 2004
It is up to you to properly manage you checking account. They aren't babysitters, they're a bank.
You say the problem happened when you checked your balance online *before* the rent was deducted. You never go based on what the bank says you have for that very reason. You should be keeping a log of every expenditure (check register, which is included with every box of checks).
When you right a check, make a withdrawl, use your debit card anywhere, you WRITE DOWN what you spent and DEDUCT it from your balance. *THAT* is what you have to spend, not what the bank says because checks take time to clear, as do some debit transactions. You should check your balance online (or with the bank), but as a back up and to verify that things have cleared, you didn't forget to write something down, etc (called balancing your checkbook).
I understand that you were under the impression that you couldn't use your card or get money if you didn't have any in the account, but again - you can't blame Wells Fargo. It is solely your responsibility to keep accurate records of your transactions and know how much money you have to spend. It's very possible that your rent check hadn't been processed until after you spent all that money and then it got processed leaving with you with no money, then those other transactions (the lunches, gas, etc) started coming in and hence, over draft fees.