Complaint Review: Wells Fargo Bank - Lubbock Texas

First, I am not a "Sir", just a Wells Fargo customer - a happy one - one who has been a customer for over 10 years and has NEVER bounced a check or had WF conspire to draft all kinds of fees from my account. I am not rich but I do maintain a POSITIVE account balance at all times. What you are referring to is called "playing the float" and while it is not illegal it is a dangerous game. ALL banks require 24 hours for a deposit to "post" to an account. Usually (WF included) you can draft up to $100 immediately on said deposit BUT if the bank is unable to verify that deposits funds it will hold it for longer. I just find it hard to believe that keeping a positive balance in your account and keeping an accurate checkbook register results in you getting unfair overdraft fees. Understand it is every banks policy to hold onto deposits until the funds are verified (right around 24 to 48 hours) and if your account has a positive balance (i.e. you are not writing hot checks or playing your "float") then it doesn't matter how checks in withdrawls are debited from your account because you have money to cover them. Now I DO think overdraft fees are silly - but I don't consider it a problem because I don't write hot checks and I don't make withdrawls on monies I know haven't been verified. I stick to my belief that "suing" these banks for a customers irresponsibility is frivilous and will end up costing all consumers more in the end. Try setting up a savings/overdraft account - it collects a (tiny) amount of interest AND it will save you in these situations.

Sorry sir, but the whole "you should keep better records" argument is nothing but BS. The electronic system that Wells Fargo and has in place will actually electronically rearrange and or withhold your deposits which are actually made on time and purposely post them behind debit card purchases in order to falsely charge overdraft fees to the customer whenever possible. So it does not really matter how well a person keeps records as the system will actually purposely withhold and rearrange your deposits to place them after debit card purchases yet at the same time the system will show on the customers statements and receipts that the deposited funds are already available as they should be. This is fraudulent as it is actually innaccurate record keeping and balance posting on the part of the bank system not the customer. The bank then holds the customer responsible for the banks own electronic system innaccuracies and charges a fee to the customer when indeed the customer did everything right and in actual reality DID NOT! use the debit card until after funds WERE ALREADY deposited in the bank system in advance ON TIME! and actually shown as available funds on statements and receipts. The computer rearranges the deposits and debit purchases in order to charge a false overdraft fee plain and simple. A review of the actual computer program that Wells Fargo has in place would reveal the truth. Your claim that too many frivalous lawsuits against Wells Fargo from huge corporations and institutions is justification or reason for Wells Fargo to Commit fraud and theft against innocent unsuspecting little old ladies and minorities in order to recoup their losses is the most ridiculous thing I have ever heard.

(suspicious). While I do agree there should be more consumer protection from the corporate banking crooks it is "advocates" like yourself that are directly responsible for the banking industry utilizing and enforcing these fees (in order to maintain a profit margin) - you see when you file a FRIVILOUS lawsuit the company doesn't pay - their OTHER CUSTOMER'S do in the form of higher transaction/atm fee's and enforced overdraft/penalty fees, etc so with that I will offer you one tip - regardless of bank statements, online info (etc) your "family member" probably has a check book and if they are mature enough to write checks then they should be mature enough to use a calculator to add and subtract checks/debits/deposits on their check register (as needed) and use the bank's statement only for a backup in their record keeping - that being said here's my advice - once this has been mastered - DON'T WRITE HOT CHECKS - simple as that . . .