- Report: #43489
Complaint Review: Wells Fargo Bank - Sacramento California
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Wells Fargo Bank
Sacramento, California, U.S.A.
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Wells Fargo Bank Rip-off Illegal Overdraft Charges Deceptive Accounting Practices Sacramento California
What has been posted in here previously about the inaccuracies of Wells Fargo websites is merely the tip of the iceberg.
What I discovered, when like Corri, I was hit for 600$ in overdraft fees, was that Wells Fargo was NOT following their account "Terms of Disclosure". I followed the directions of the customer service rep who suggested that I read my account terms and disclosure and I did. Under use of the card as a 'Visa Check Card' - it stated that the bank would hold amounts 'authorized' for payment by a merchant until such transactions were 'presented for payment'.
In reality, what was happening was the amounts were held for 1 business day, released back into the account; thus showing an inflated balance, then anywhere from 3-10 business days later, the amounts would be removed from the account.
Now, like many customers, I was operating under the belief that the website and account information contained there was as accurate as any check register I would keep myself. WRONG.
No where in the "Terms of Disclosure" was anything like the above described. I called Wells Fargo and was initially told that this was a glitch in the system and these would be reversed as a courtesy. When after three business days they were not reversed, I called back, I was told that the decision had been made NOT to reverse them. No letter was mailed to me or call was made to inform me of this flip-flop thinking.
Numerous attempts to complain up and down to Wells Fargo resulted in the same results as Corri intially got - "Keep a check register" etc. I gave up. Wells Fargo still holds a debt of over 600$ in my name and I have given up attempting to resolve this. None of the customer service reps or supervisors I spoke to even understood the complexity of the issue at hand.
Summary : Keep your money away from this bank.
John
Los Angeles, California
U.S.A.
What I discovered, when like Corri, I was hit for 600$ in overdraft fees, was that Wells Fargo was NOT following their account "Terms of Disclosure". I followed the directions of the customer service rep who suggested that I read my account terms and disclosure and I did. Under use of the card as a 'Visa Check Card' - it stated that the bank would hold amounts 'authorized' for payment by a merchant until such transactions were 'presented for payment'.
In reality, what was happening was the amounts were held for 1 business day, released back into the account; thus showing an inflated balance, then anywhere from 3-10 business days later, the amounts would be removed from the account.
Now, like many customers, I was operating under the belief that the website and account information contained there was as accurate as any check register I would keep myself. WRONG.
No where in the "Terms of Disclosure" was anything like the above described. I called Wells Fargo and was initially told that this was a glitch in the system and these would be reversed as a courtesy. When after three business days they were not reversed, I called back, I was told that the decision had been made NOT to reverse them. No letter was mailed to me or call was made to inform me of this flip-flop thinking.
Numerous attempts to complain up and down to Wells Fargo resulted in the same results as Corri intially got - "Keep a check register" etc. I gave up. Wells Fargo still holds a debt of over 600$ in my name and I have given up attempting to resolve this. None of the customer service reps or supervisors I spoke to even understood the complexity of the issue at hand.
Summary : Keep your money away from this bank.
John
Los Angeles, California
U.S.A.
