Complaint Review: Wells Fargo Bank - Nationwide

Overdraft protection Protction from another account (checking, savings, credit card) against overdraft fees. If item(s) try to post against your account to a negative (available or ledger) balance then the bank will transfer money from the protection account to the main account. There will be a one time per day transfer fee to prevent a one per item OD fee.

Authorization of overdraft By refusing authorization you are telling the bank, if my balance does not cover the transaction I'm trying on my debit card, then deny the transaction. It does NOT prevent checks, automatic clearing house (ACH) transacions or transfers that would post to a negative balance.

Overdraft Fee (OD fee) Fee charge per item that posts to a negative (available or ledger) balance. This item is paid and a fee accessed against your account.

Nonsufficient fund fee (NSF) Fee charged per item that presents against your account but is NOT paid because there is not money to cover it (either in just the main account or the main account and protection account). The item is returned to the bank that sent it to your bank and a fee is accessed against your account. The other bank can send the item back to your bank again for processing. If no money to cover it, it will be returned (again) and cause a NSF fee (again).

So, with these definitions in mind (since these definitions are what banks use) let's look at your original post.You say during opening you insisted on no overdraft protection. Therefore no account to help cover items coming in against your main account. You wanted the item(s) reurned and a NSF fee charged.

You state that when you went overseas the bank returned 75 items and charged you 75 NSF fees. Since thisis exactly what you told them to do Why are you mad at the bank??? Once the account becomes this negative, the bank is going to try every number they've ever had affiliated with the account in an attempt to find out what's happening.

What exactly did the bank do that you feel is wrong and is a rip off???

And to save you the time, no I do not now and have never worked for this bank. (Neither hs the other person who posted.) I did work customer service for another bank and am just trying to help explain why what happened, happened.

 YOU have to request this EVERY YEAR!!! When the fiscal year is over thier systems tend to drop account preferences. YOU have to be proactive and request this each year. YOUR account going into negative status is TOTALLY ON YOU!!!!! The bank is only fulfilling the requests for payment that YOU have spent. If YOU do not have enough money in the account then YOU are charged the NSF!!! How is the bank paying YOUR DEBTS that YOU MADE a ripoff?? YOU are just mad because YOU had to pay that money back. To YOU this is ALL totally unfair. The reality is that YOU overspent money that YOU did not have. Deal with it and move on. EVERY bank is going to charge YOU the max fees that they are LEGALLY allowed. Pay better attention to your finances and you wont have to deal with this. YOU probably have thrown away the letter that YOU recieved each year the account has been open. That letter states that YOU have to sign AND mail it back to them to CONTINUE to have zero overdraft protection. If YOU do not send this in then YOU have agreed by YOUR lack of communication that YOU wanted over draft protection on the account. So tell us ALL again how the bank has ripped YOU off?? What it sounds like to me is that YOU screwed up by NOT responding to an official communication from the bank and NOW seek to WHINE and CRY about the mistake YOU made. Its NOT the banks job to CARE!!!!! Thier job is to handle money and THAT IS ALL!!!! YOU overspent on YOUR account and got charged the appropriate fees for doing so!! NOT A RIPOFF!!!!! What YOU have done is MORE criminal then ANYTHING you have whined about!!! Its called defamation!!! By LYING and FALSLY REPRESENTING the facts on a media outlet YOU have put yourself at risk for a civil suit.

Guys,

10 minutes after I post my opinnion, they've replied. Reply on Ripoff report cost them so much money, that they could REPAY my NSF Fees...

And YOU are proving ONE MORE TIME that WellsFargo is SCAM.  Your bank DID NOT PAY any of my transactions. They have rejected them and charged me $35. So, you did not apply OVERDRAFT CHARGE, you just ignored (rejected) transaction and hit my account for that.

WOW, and again, now you say that has to be updated every year. Guys, this is what I am talking about. STAY AWAY FROM WELLSFARGO.

Internet has bigger reach than what you think.  People have power and your scammy actions are not going far... Ask your investors when this gets on top of the first page, and I will do my best to get there.