Wells Fargo, Wells Fargo's "pending" trick, provides false ballance, resulting in overdraft fees Kent Washington
This is the scam Wells Fargo is using on me and no doubt many others. They offer a free online ballance review so you can check your ballance before spending anymore.
But they keep "pending" transactions on a seperate page and these are seemingly "pending" for sometimes three business days. When you live from pay check to pay check, you let your account get down to $20 at
times (It's just a checking account)
So I check my ballance, see I have $45 left, buy some gas, and only then does the "pending" magically stop "pending" and go straight to my ballance
sheet, and Im overdrawn. And their software is designed to do this!
How do I know? Because this happens within their own computer system. They have a "Reaccuring Transfer" of $25 from my checking to my svaings. This is, in their words, to build up my savings so there will be money there to prtect again overdrafts in checking. They told me I had to do this when I opened the account,or pay a month fee.
So they move $25 out of my checking and put it in my savings (for free) and then they do not adjust my ballance for this, rather it is noted on a
seperate web page as "Pending" (sometimes for days) and this is all in the same computer system, theirs!
The computer knows it moved my money, the same computer can adjust my ballance to accomedate the moved money, but it does not! This can only be by design, it is programmed to do that. It is the same computer system that moves the money but does not adjust the ballance.
Then after the overdraw, they move the $25 back to checking to cover it, then charge me a $10 fee for moving that moning (in autimatic computerville)
back to checking and a $35 over draft fee, for which there are insuficient funds to cover until my next paycheck (direct deposit) resulting in yet another
over draft, Wells Fargo casuing both. So the next time I see my ballance, there are two $10 fees, and two $35 fees.
The false ballance they provide has caused these overdrafts on 3 occasions. Enough is enough. Even if I pay the monthly fee and tell them to stop moving my money around in their shell game, they still do this "Pendng" trick with every transaction I make.
So if I bought gas last week, in a Chevron computer system, it might not even show in my ballance for 4 days! yet on a seperate Wells Fargo web page (Account Activity) it is there "pending", so Wells Fargo's computer knows all about the transaction, it just opts to leave it off my ballance for days and days and instead give me a false ballance so I can overdraw and
once again Wells Fargo can dip their sticky fingers into my money.time for a new bank.
Phuqued
Kent, Washington
U.S.A.
5 Updates & Rebuttals
Phuqued
Kent,Washington,
U.S.A.
Update (reply to replies)
#6Consumer Comment
Tue, December 30, 2008
You can always tell a bank employee by their double talk,not a teller, but a paid liar (spokesperson) for instance,take the poster above, Scott, in Iowa, he says,.
Quote:
"Most banks operate the way you describe above. You can switch banks all you want, but until you change your spending habits, these problems will continue to plague you."
Classic, tell the victim it's their fault. and tactic number 2, tell them there's nothing they can do. Not True! I learned if you join a credit union and put your money there instead of a bank, you will avoid most of these problems.
What other baffling BS came out of Banker Boy Scott?...
Quote:
"The first you thing do to is STOP relying on the balance you see online. The online listing is for verification and balancing only. It is NOT meant as a means to see what funds you have available at any given time. The online system has no way of knowing what checks are circulating out there."
ha ha ha, God has a way of making liars look foolish. or perhaps it is in the nature of low IQs to do deceitful things? Example in the above quote he is basically saying...
(STOP relying on the balance you see online. The online listing is for balancing only)
ha ha ha, that is exactly what he is saying. Here in full...
"..STOP relying on the balance you see online.
The online listing is for verification and balancing only"
Read that few times and see if your skin doesn't crawl.
He goes on to say,..
"It is NOT meant as a means to see what funds you have available at any given time. The online system has no way of knowing what checks are circulating out there."
Okay so Banker Scott (obviously working for the banks whether he admits it or not) apparently in his deceit or ignorance, does not know what "ballancing" means. Yep folks according to Scott "ballancing" as nothing to do with seeing how much funds you have left.
What's funny is after they get caught in a lie like this, which is more rude than any other thing in this sacred site!, ...they launch a small complaint letter writing campaign to site moderators saying, "Whaaaa! this poster was rude to us, catching us in our lies and disinformation tactics, and exposing us! Remove his posts!" usually more a long ther lines of, "I have been a loyal member of Rip Off Report for umteen years now, and.,.bla bal bla" half the moderators fall for it.
It will be interesting to see in Rip Off Report, allows the criminals to take over this web site like that.
And catch the last part of his disinformation spew, ..."The online system has no way of knowing what checks are circulating out there."
He knows full well we are talking about direct deposits, and ATM CARD usage! Nothing to do with Checks! And he knows it! We are also talking about what is known, and documented as known, not something "circulated out there unbeknown to the bank"
We're talking about a deliberate intentional causing of over drafts by the bank itself by delaying the posting of Direct Deposits for as long as a week!, ...until they can accumulate enough ATM transactions to charge me with over draft fees. And then post my week old deposit.
And these disinformation agents posting in here are claiming there is nothing you the consumer can do about it. Of course they will say that, they are paid to make posts in here like that, the last thing the bank wants is a class action law suit. So lets give it to them.
Search web everywhere for similar and gather these victims together, I am taking names of victims right here as a matter of fact, starting now! Leave name and email.
The other posters in here so far at time of this writing are also bank reps
with the possible exception of Edgeman in Chico CA, great College town.
Well Edgeman, I do keep records and it has gotten worse.
I was laid off some time ago and all this occurs while on unemployment.My unemployment is direct deposit, I do keep records, and so does the
unempluyment office. They say they deposited funds on Dec 11th,Wells Fargo says the funds were deposited Dec 15th.
...resulting in yet another $35 x 3 bogus over draft fees.I told them I have proof from a government agency that the funds were
deposited on the 11th, they don't care, they just say, "Our records show..."
How do you artgue with that?, they know you can't afford to take them to court They're just flat out robbing the unemployed at Christmas time.
They're disgusting and I warned them if they didn't reverse it I would make then look very bad and I intend to do just that putting my story all
over Youtube in a very intertaining way! They robbed the wrong person!
There are a thousand complaints against them in this web site alone,
Probably less than 1% of actual victims respresented in that.
Yet magically there are these people with nothing better to do in life than come in here and defend the banks, telling the victims it's their own fault? These are paid propaganda working for the banks. And if I stole money from the bank via computer deception you can bet your sweet assets the wild bore squad would be kicking in my door, for the bank. But when the bank robs us?
.
Phuqued
Kent,Washington,
U.S.A.
Update (reply to replies)
#6Consumer Comment
Tue, December 30, 2008
You can always tell a bank employee by their double talk,not a teller, but a paid liar (spokesperson) for instance,take the poster above, Scott, in Iowa, he says,.
Quote:
"Most banks operate the way you describe above. You can switch banks all you want, but until you change your spending habits, these problems will continue to plague you."
Classic, tell the victim it's their fault. and tactic number 2, tell them there's nothing they can do. Not True! I learned if you join a credit union and put your money there instead of a bank, you will avoid most of these problems.
What other baffling BS came out of Banker Boy Scott?...
Quote:
"The first you thing do to is STOP relying on the balance you see online. The online listing is for verification and balancing only. It is NOT meant as a means to see what funds you have available at any given time. The online system has no way of knowing what checks are circulating out there."
ha ha ha, God has a way of making liars look foolish. or perhaps it is in the nature of low IQs to do deceitful things? Example in the above quote he is basically saying...
(STOP relying on the balance you see online. The online listing is for balancing only)
ha ha ha, that is exactly what he is saying. Here in full...
"..STOP relying on the balance you see online.
The online listing is for verification and balancing only"
Read that few times and see if your skin doesn't crawl.
He goes on to say,..
"It is NOT meant as a means to see what funds you have available at any given time. The online system has no way of knowing what checks are circulating out there."
Okay so Banker Scott (obviously working for the banks whether he admits it or not) apparently in his deceit or ignorance, does not know what "ballancing" means. Yep folks according to Scott "ballancing" as nothing to do with seeing how much funds you have left.
What's funny is after they get caught in a lie like this, which is more rude than any other thing in this sacred site!, ...they launch a small complaint letter writing campaign to site moderators saying, "Whaaaa! this poster was rude to us, catching us in our lies and disinformation tactics, and exposing us! Remove his posts!" usually more a long ther lines of, "I have been a loyal member of Rip Off Report for umteen years now, and.,.bla bal bla" half the moderators fall for it.
It will be interesting to see in Rip Off Report, allows the criminals to take over this web site like that.
And catch the last part of his disinformation spew, ..."The online system has no way of knowing what checks are circulating out there."
He knows full well we are talking about direct deposits, and ATM CARD usage! Nothing to do with Checks! And he knows it! We are also talking about what is known, and documented as known, not something "circulated out there unbeknown to the bank"
We're talking about a deliberate intentional causing of over drafts by the bank itself by delaying the posting of Direct Deposits for as long as a week!, ...until they can accumulate enough ATM transactions to charge me with over draft fees. And then post my week old deposit.
And these disinformation agents posting in here are claiming there is nothing you the consumer can do about it. Of course they will say that, they are paid to make posts in here like that, the last thing the bank wants is a class action law suit. So lets give it to them.
Search web everywhere for similar and gather these victims together, I am taking names of victims right here as a matter of fact, starting now! Leave name and email.
The other posters in here so far at time of this writing are also bank reps
with the possible exception of Edgeman in Chico CA, great College town.
Well Edgeman, I do keep records and it has gotten worse.
I was laid off some time ago and all this occurs while on unemployment.My unemployment is direct deposit, I do keep records, and so does the
unempluyment office. They say they deposited funds on Dec 11th,Wells Fargo says the funds were deposited Dec 15th.
...resulting in yet another $35 x 3 bogus over draft fees.I told them I have proof from a government agency that the funds were
deposited on the 11th, they don't care, they just say, "Our records show..."
How do you artgue with that?, they know you can't afford to take them to court They're just flat out robbing the unemployed at Christmas time.
They're disgusting and I warned them if they didn't reverse it I would make then look very bad and I intend to do just that putting my story all
over Youtube in a very intertaining way! They robbed the wrong person!
There are a thousand complaints against them in this web site alone,
Probably less than 1% of actual victims respresented in that.
Yet magically there are these people with nothing better to do in life than come in here and defend the banks, telling the victims it's their own fault? These are paid propaganda working for the banks. And if I stole money from the bank via computer deception you can bet your sweet assets the wild bore squad would be kicking in my door, for the bank. But when the bank robs us?
.
Edgeman
Chico,California,
U.S.A.
Why would people rely on their online banking service for their balance?
#6Consumer Comment
Wed, October 01, 2008
Come on people, this is your money! Why wouldn't you keep your own records?
Online banking and the phone hotlines are not accurate. They are useful for confirming when transactions clear or transferring funds, but never rely on them to know your balance.
Ken
Randolph,Massachusetts,
U.S.A.
Why it is pending
#6Consumer Comment
Wed, October 01, 2008
When you used your debit card, the gas station asks the bank to hold a certain amount of money. This becomes the pending transaction. It stays there until the merchant submits the actual debit, or until a timer runs out. The bank has no control over when the merchant submits the actual item. Further, they cannot just take the money because the merchant (especially gas stations!) does not always hold the amount of the actual purchase.
In some parts of the country, gas stations seem to routinely hold $75 or $100. Here in New England, they seem to often hold only $1. The bank cannot remove actual funds from your account until the merchant submits the final debit.
As for your savings transfer being pending for 'days', I suspect they put it in this status early to give you a reminder to update your check register before the actual transfer occurs. I bet if you were to track it, you'd find it goes pending for the same number of days each month. If you are keeping an accurate chjeck register, this is helpful. If you're not keeping a register, you just need to budget for the fees you'll get every month. It's sort of a cost of doing business in that manner.
Scott
Rock Rapids,Iowa,
U.S.A.
Stop spending money you don't have
#6Consumer Comment
Wed, October 01, 2008
Most banks operate the way you describe above. You can switch banks all you want, but until you change your spending habits, these problems will continue to plague you.
The first you thing do to is STOP relying on the balance you see online. The online listing is for verification and balancing only. It is NOT meant as a means to see what funds you have available at any given time. The online system has no way of knowing what checks are circulating out there.
For each and every transaction, you need to write that transaction down in your check register. This is the only "real time" system available to you.
Pending transactions will clear anytime from the same day to several days later. This is entirely dependent upon the merchant and the merchant's bank. If a pending transaction does not post in a given time frame then it will drop from pending and you will not be able to see it online anymore until it posts. Unless you use a written register, you may well forget about this transaction and mistakenly believe you have more funds than you actually have.
Also, remember, that in todays banking system, written checks can very well clear the same day they are written. There is no such thing as a "float" anymore.