Need to rant about Wells Fargo!
- Thread starter kelseygirl707
- Start date
Quote:
I have a business account with a small bank. One time I had a small overdraft. Someone from the bank called and let me know if I could get there before the close of the banking day, I could make a deposit and avoid fees.
That would never happen with the big name banks.
We all should withdraw from these big banks and support small family owned banks. Just like the old days!
I have a business account with a small bank. One time I had a small overdraft. Someone from the bank called and let me know if I could get there before the close of the banking day, I could make a deposit and avoid fees.
That would never happen with the big name banks.
We all should withdraw from these big banks and support small family owned banks. Just like the old days!
Quote:
I have a business account with a small bank. One time I had a small overdraft. Someone from the bank called and let me know if I could get there before the close of the banking day, I could make a deposit and avoid fees.
That would never happen with the big name banks.
We all should withdraw from these big banks and support small family owned banks. Just like the old days!
I had BoA because I drove a big rig cross country and they are everywhere. So i thought this would be my best bet. Well yeah as long as I had no problems, didn't need to speak to a person or didn't need anything corrected!!
I love my small town bank. Even better, I am moving to PA from NC and I talked tothe bank and they said all I need to do is change the "type" of account I have and I can still bank with them at no cost - all I need to do is have 1 auto deposit monthly (which I already do) and do 10 transactions via bank card. The account is free - yes really free!!! And they will even redeposit the foreign ATM fees to me with this account!!!
Try to get one of those "mega" banks to do that! That, my friends, is called customer service!!!
I have a business account with a small bank. One time I had a small overdraft. Someone from the bank called and let me know if I could get there before the close of the banking day, I could make a deposit and avoid fees.
That would never happen with the big name banks.
We all should withdraw from these big banks and support small family owned banks. Just like the old days!
I had BoA because I drove a big rig cross country and they are everywhere. So i thought this would be my best bet. Well yeah as long as I had no problems, didn't need to speak to a person or didn't need anything corrected!!
I love my small town bank. Even better, I am moving to PA from NC and I talked tothe bank and they said all I need to do is change the "type" of account I have and I can still bank with them at no cost - all I need to do is have 1 auto deposit monthly (which I already do) and do 10 transactions via bank card. The account is free - yes really free!!! And they will even redeposit the foreign ATM fees to me with this account!!!
Try to get one of those "mega" banks to do that! That, my friends, is called customer service!!!
Let me tell you about Wells Fargo...... and $8475.00 in fees...... In Aug, right before 911 happened, my parents sold their house, they were paid by Cashiers check from the bank, another branch of Wells Fargo, but in Texas, right across the state line. They deposited the check on Sept. 10, they were told there would be no hold, it was a cashiers check made out by Wells Fargo, to them, guaranteed funds. Unfortunately the tragedy of 911 happened the very next day.
My parents went about their business, bought their motorhome, paid off all bills, went and did a lot of shopping,, they had sold thier home for about 175,000 and all but 500 cash of that they had deposited on the 10th. They kept 500 cash out to say they had in in thier pocket lol.
On Sept. 16 the started getting returned check notices, bounce fees, all kinds of fee notices in the mail. I'll never forget going out to the mail box and it was stuffed FULL of notices from Wells Fargo.
Turns out they had frozen all accounts, all deposits made with cashiers checks from Wells Fargo because there had been a shipment of blank cashiers checks on one of the planes involved in the terrorist act. Everything my parents had bought, debit, or check, you name it had been returned unpaid. They fought Wells Fargo for 9 months over it and had to sue them, and they finally got their money back because in court the judge was absolutely mind-boggled that Wells Fargo had frozen a deposit made with a cashiers check that was deposited the day BEFORE the act, so their was no way it could have been one of the checks in the shipment that was lost. They were required to contact all the people that had gotten checks returned to them, debits pulled out, etc, and tell them it was their fault, they had to pay them, then they were required to pay an additional 25,000 on top of it for suffering and damage to my parents financial reputation. It still comes back to haunt them every now and then
STAY AWAY FROM WELLS FARGO!!!!!!
My parents went about their business, bought their motorhome, paid off all bills, went and did a lot of shopping,, they had sold thier home for about 175,000 and all but 500 cash of that they had deposited on the 10th. They kept 500 cash out to say they had in in thier pocket lol.
On Sept. 16 the started getting returned check notices, bounce fees, all kinds of fee notices in the mail. I'll never forget going out to the mail box and it was stuffed FULL of notices from Wells Fargo.
Turns out they had frozen all accounts, all deposits made with cashiers checks from Wells Fargo because there had been a shipment of blank cashiers checks on one of the planes involved in the terrorist act. Everything my parents had bought, debit, or check, you name it had been returned unpaid. They fought Wells Fargo for 9 months over it and had to sue them, and they finally got their money back because in court the judge was absolutely mind-boggled that Wells Fargo had frozen a deposit made with a cashiers check that was deposited the day BEFORE the act, so their was no way it could have been one of the checks in the shipment that was lost. They were required to contact all the people that had gotten checks returned to them, debits pulled out, etc, and tell them it was their fault, they had to pay them, then they were required to pay an additional 25,000 on top of it for suffering and damage to my parents financial reputation. It still comes back to haunt them every now and then
STAY AWAY FROM WELLS FARGO!!!!!!
Quote:
sorry this happend to you, but it really isnt uncommon for most banks to practice this. I live with my debit card and hardly ever write checks - any and all purchases and/or bills paid are done by using my debit card and they immediately transfer out of my balance in my checking account, its instant, as are most debit transactions. All transactions ran after 2:00 pm on a Friday - Sunday period are processed after 5:00 p.m. usually on Monday by banks - because they use the morning hours (or 9-2:00 business hours) to process the day transactions on Friday from 9:00 - 2:00 and then any deposits made Monday morning during business hours. This is standard practice at most banks. If you go online and check your banking to see if things have "cleared" and it says "Pending" - you need to do a check register balance and/or see what the Account Balance online states and then what the Actual Account Balance states; there are 2 different balances (or at least for my online banking there is). One balance (Account Balance) shows total balance including pending authorizations not yet taken and the other shows the Actual Balance of the account. That Actual Account Balance is what the bank uses for all transactions coming into your account - not the other balance with pending charges. This sounds exactly like what happend to you I'm afraid. You may also be able to avoid a direct immediate debit by selecting "credit" vs. "debit" option - sometimes this delays the transaction, but not always, depends on the store.
Here's something I always do also to ensure I always have extra money in my checking for those "just in case" or "oops" moments in case DH forgets to tell me about a charge. I always round up to the next dollar amount on all charges in my register. This usually amounts to an extra $50 - 100.00 in my checking account a month and I "float it", always keeping track of how much "to the good" I have, but never adding it in officially, I always track it to the side. If it gets over $100.00, I'll cut it in half, add $50.00 in and keep the other $50.00 for "safe keeping".
Its like having a change jar at home, but no change to cash in!
You're lucky you got them to reverse the charges - most banks would've told you "sorry, nothing we can do, not enough money". I bank with PNC and havent had any issues with them so far, but.. before my bank became PNC, it was a locally owned small bank too.
sorry this happend to you, but it really isnt uncommon for most banks to practice this. I live with my debit card and hardly ever write checks - any and all purchases and/or bills paid are done by using my debit card and they immediately transfer out of my balance in my checking account, its instant, as are most debit transactions. All transactions ran after 2:00 pm on a Friday - Sunday period are processed after 5:00 p.m. usually on Monday by banks - because they use the morning hours (or 9-2:00 business hours) to process the day transactions on Friday from 9:00 - 2:00 and then any deposits made Monday morning during business hours. This is standard practice at most banks. If you go online and check your banking to see if things have "cleared" and it says "Pending" - you need to do a check register balance and/or see what the Account Balance online states and then what the Actual Account Balance states; there are 2 different balances (or at least for my online banking there is). One balance (Account Balance) shows total balance including pending authorizations not yet taken and the other shows the Actual Balance of the account. That Actual Account Balance is what the bank uses for all transactions coming into your account - not the other balance with pending charges. This sounds exactly like what happend to you I'm afraid. You may also be able to avoid a direct immediate debit by selecting "credit" vs. "debit" option - sometimes this delays the transaction, but not always, depends on the store.
Here's something I always do also to ensure I always have extra money in my checking for those "just in case" or "oops" moments in case DH forgets to tell me about a charge. I always round up to the next dollar amount on all charges in my register. This usually amounts to an extra $50 - 100.00 in my checking account a month and I "float it", always keeping track of how much "to the good" I have, but never adding it in officially, I always track it to the side. If it gets over $100.00, I'll cut it in half, add $50.00 in and keep the other $50.00 for "safe keeping".
You're lucky you got them to reverse the charges - most banks would've told you "sorry, nothing we can do, not enough money". I bank with PNC and havent had any issues with them so far, but.. before my bank became PNC, it was a locally owned small bank too.
- Thread starter
- #18
Quote:
sorry this happend to you, but it really isnt uncommon for most banks to practice this. I live with my debit card and hardly ever write checks - any and all purchases and/or bills paid are done by using my debit card and they immediately transfer out of my balance in my checking account, its instant, as are most debit transactions. All transactions ran after 2:00 pm on a Friday - Sunday period are processed after 5:00 p.m. usually on Monday by banks - because they use the morning hours (or 9-2:00 business hours) to process the day transactions on Friday from 9:00 - 2:00 and then any deposits made Monday morning during business hours. This is standard practice at most banks. If you go online and check your banking to see if things have "cleared" and it says "Pending" - you need to do a check register balance and/or see what the Account Balance online states and then what the Actual Account Balance states; there are 2 different balances (or at least for my online banking there is). One balance (Account Balance) shows total balance including pending authorizations not yet taken and the other shows the Actual Balance of the account. That Actual Account Balance is what the bank uses for all transactions coming into your account - not the other balance with pending charges. This sounds exactly like what happend to you I'm afraid. You may also be able to avoid a direct immediate debit by selecting "credit" vs. "debit" option - sometimes this delays the transaction, but not always, depends on the store.
Here's something I always do also to ensure I always have extra money in my checking for those "just in case" or "oops" moments in case DH forgets to tell me about a charge. I always round up to the next dollar amount on all charges in my register. This usually amounts to an extra $50 - 100.00 in my checking account a month and I "float it", always keeping track of how much "to the good" I have, but never adding it in officially, I always track it to the side. If it gets over $100.00, I'll cut it in half, add $50.00 in and keep the other $50.00 for "safe keeping".
Its like having a change jar at home, but no change to cash in!
You're lucky you got them to reverse the charges - most banks would've told you "sorry, nothing we can do, not enough money". I bank with PNC and havent had any issues with them so far, but.. before my bank became PNC, it was a locally owned small bank too.
I have no problem with when they took the money out, that I understand. the issue I have is that instead of deducting my purchases in the order I made them,they did it in the order of most expensive to least, so the two $4 purchases I made on friday came out after the the $14 dollar purchase I made on sunday, overdrafting me 3 time instead of just the one for the sunday purchase. That is rediculous!
sorry this happend to you, but it really isnt uncommon for most banks to practice this. I live with my debit card and hardly ever write checks - any and all purchases and/or bills paid are done by using my debit card and they immediately transfer out of my balance in my checking account, its instant, as are most debit transactions. All transactions ran after 2:00 pm on a Friday - Sunday period are processed after 5:00 p.m. usually on Monday by banks - because they use the morning hours (or 9-2:00 business hours) to process the day transactions on Friday from 9:00 - 2:00 and then any deposits made Monday morning during business hours. This is standard practice at most banks. If you go online and check your banking to see if things have "cleared" and it says "Pending" - you need to do a check register balance and/or see what the Account Balance online states and then what the Actual Account Balance states; there are 2 different balances (or at least for my online banking there is). One balance (Account Balance) shows total balance including pending authorizations not yet taken and the other shows the Actual Balance of the account. That Actual Account Balance is what the bank uses for all transactions coming into your account - not the other balance with pending charges. This sounds exactly like what happend to you I'm afraid. You may also be able to avoid a direct immediate debit by selecting "credit" vs. "debit" option - sometimes this delays the transaction, but not always, depends on the store.
Here's something I always do also to ensure I always have extra money in my checking for those "just in case" or "oops" moments in case DH forgets to tell me about a charge. I always round up to the next dollar amount on all charges in my register. This usually amounts to an extra $50 - 100.00 in my checking account a month and I "float it", always keeping track of how much "to the good" I have, but never adding it in officially, I always track it to the side. If it gets over $100.00, I'll cut it in half, add $50.00 in and keep the other $50.00 for "safe keeping".
You're lucky you got them to reverse the charges - most banks would've told you "sorry, nothing we can do, not enough money". I bank with PNC and havent had any issues with them so far, but.. before my bank became PNC, it was a locally owned small bank too.
I have no problem with when they took the money out, that I understand. the issue I have is that instead of deducting my purchases in the order I made them,they did it in the order of most expensive to least, so the two $4 purchases I made on friday came out after the the $14 dollar purchase I made on sunday, overdrafting me 3 time instead of just the one for the sunday purchase. That is rediculous!
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I am waiting for the Wachovia Wells Fargo mess to calm down some then I am getting out of dodge.
I hate Wells Fargo and finding out that Wachovia was bought out by them really flipped me out.
We sold our house two years ago and the person who was buying the house had Wells Fargo for their mortgager. He was military so the distances involved were too large for him to attend the closing. I was MORE than willing to bend over to accommodate him (never met him, didn't care, he was military so I was going to try )
SO we set up closing and WF said their representative would attend.
Six people sitting in a room - no WF rep. No closing.
Next week (meantime I am scrambling to cover expenses on my new house) six people no WF rep.
MY mortgage company finally threatened to sue the buyer. I raised Cain with them over that and thy said they would threaten WF instead. They did and suddenly everything got cleared up.
WTF? No one ever was able to answer my question as to what had happened and I cannot imagine how stressed out the buyer was. He was deployed for Crimminies sake trying to settle a house for his wife who was in another state. He didn't need that ****.
I hate Wells Fargo and finding out that Wachovia was bought out by them really flipped me out.
We sold our house two years ago and the person who was buying the house had Wells Fargo for their mortgager. He was military so the distances involved were too large for him to attend the closing. I was MORE than willing to bend over to accommodate him (never met him, didn't care, he was military so I was going to try )
SO we set up closing and WF said their representative would attend.
Six people sitting in a room - no WF rep. No closing.
Next week (meantime I am scrambling to cover expenses on my new house) six people no WF rep.
MY mortgage company finally threatened to sue the buyer. I raised Cain with them over that and thy said they would threaten WF instead. They did and suddenly everything got cleared up.
WTF? No one ever was able to answer my question as to what had happened and I cannot imagine how stressed out the buyer was. He was deployed for Crimminies sake trying to settle a house for his wife who was in another state. He didn't need that ****.
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