- Report: #70048
Complaint Review: Wells Fargo Bank - Bakersfield California
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Author Confirmed
Why?
Wells Fargo Bank
www.wellsfargo.com Bakersfield, California, U.S.A.
Phone:
800-956-4442
Web:
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Wells Fargo Bank deceptive and dishonest business practices Bakersfield California
I have been a wells fargo customer for a couple of years and I make daily deposits, always in cash. Today I noticed they had charged me nearly $60.00 in overdraft fees. I had made a deposit thursday night knowing it would cover any of fridays transactions. Then I ran an express statement and the deposit wasn't there! They explained that the deposit would not be available until Saturday! How is that the next business day?
Common sense tells me that if I make a cash deposit thursday, then that money would be there friday! I firmly believe wells fargo is ripping off people by doing this unfair practice.
I will be shopping for a new bank very soon, and now I know what real questions to ask and get in writing. No wells fargo employee explained this is what they do when i opened the account, if I had known I would have planned deposits to coincide with withdrawals. Bottom line , the money was there and wells fargo chose not to use it. They are the epitomy of corporate crooks. Keep this in mind when dealing with wells fargo, they will charge you the overdraft fees BEFORE depositing your money. I think its high time the government began investigating the way banks handle peoples money! If banks can choose when to deposit your hard earned cash, then they should not be allowed to charge od fees until all outstanding deposits are entered.
Bill
tupman, California
U.S.A.
Common sense tells me that if I make a cash deposit thursday, then that money would be there friday! I firmly believe wells fargo is ripping off people by doing this unfair practice.
I will be shopping for a new bank very soon, and now I know what real questions to ask and get in writing. No wells fargo employee explained this is what they do when i opened the account, if I had known I would have planned deposits to coincide with withdrawals. Bottom line , the money was there and wells fargo chose not to use it. They are the epitomy of corporate crooks. Keep this in mind when dealing with wells fargo, they will charge you the overdraft fees BEFORE depositing your money. I think its high time the government began investigating the way banks handle peoples money! If banks can choose when to deposit your hard earned cash, then they should not be allowed to charge od fees until all outstanding deposits are entered.
Bill
tupman, California
U.S.A.
2 Updates & Rebuttals
Jeanne
Cape Coral,Florida,
U.S.A.
when using the ATM, some banks will credit your account right away, others wait
#2Consumer Suggestion
Sat, January 10, 2004
Check your terms ...I ran into this problem years ago at another bank. I found that when using the ATM, some banks will credit your account right away, others wait until they have verified your deposit. I refuse to write a check for an amount more than what I know has been credited to my account. While the terms may say "next business day" you have to take into consideration, what time of day or night you deposited and what time those deposits are picked up and processed. If you deposited late on Thursday night after the machine had been serviced, your deposit may not show until after the next servicing, which would have been Friday afternoon or evening, which would have shown on your account on Saturday as your customer service rep told you. That is not a rip-off. When opening an account, I usually ask outright, if I deposit via the bank machine, when will my account be credited? What is considered "next business day" by the bank? If you save your receipt showing the time you deposited, and you go to your bank and show them the slip, if you keep your calm, they will usually make good instead of losing a valued customer. Best bet though is to get the policies in writing and do not write checks for more than what you KNOW is credited to your account.
Amy
Victoria,Texas,
U.S.A.
When cash is deposited, you are given immediate credit even if we are already on the next business day
#3UPDATE Employee
Fri, January 09, 2004
I am a teller at Wells Fargo. When cash is deposited, you are given immediate credit even if we are already on the next business day. For example, if you deposit $100 cash Thursday night, the cash should be available immediately if you were to go to the atm machine. Checks would also be covered because cash is plain and simply cash. You know it's good, unlike a check that is not drawn on your bank. Even if the deposit was made after the business day cutoff on Thursday, the deposit would still be in your account on Friday night even if it were a check under normal procedures. When you make a deposit, always keep your receipts. This way, you can show customer service or a personal banker that the deposit was made and you deserve credit or a fee reversal.
