Complaint Review: Wells Fargo Bank - Phoenix Arizona

I have heard many people complain THEY made a mistake and don't want to pay the bank fees. In many cases I would agree. The fees are not to cover costs but to punish customers. If the banks would pay the smallest amount first and work thier way up then this would eliminate about 90% of all fees. I would rather pay one fee to my car payment or mortgage company than many for a lot of merchant transactions. Even if the bank returned all checks it is better to pay one fee for a large check than many fees for a lot of small checks plus the fees from the merchants. For those that want the amount they can over draft set to zero and a mistakes happens either by you or the bank you will be going around to a lot of merchants explaining the problem and paying their fees and maybe not allowed to write checks there again. So instead of paying the largest amount first and working their way down the banks and credit unions should be forced to pay the smallest first and work their way up. As far as rich people paying fees, I'm betting they don't over draft because they have money or can get over draft protection and pay a much smaller fee.

I have heard many people complain THEY made a mistake and don't want to pay the bank fees. In many cases I would agree. The fees are not to cover costs but to punish customers. If the banks would pay the smallest amount first and work thier way up then this would eliminate about 90% of all fees. I would rather pay one fee to my car payment or mortgage company than many for a lot of merchant transactions. Even if the bank returned all checks it is better to pay one fee for a large check than many fees for a lot of small checks plus the fees from the merchants. For those that want the amount they can over draft set to zero and a mistakes happens either by you or the bank you will be going around to a lot of merchants explaining the problem and paying their fees and maybe not allowed to write checks there again. So instead of paying the largest amount first and working their way down the banks and credit unions should be forced to pay the smallest first and work their way up. As far as rich people paying fees, I'm betting they don't over draft because they have money or can get over draft protection and pay a much smaller fee.

I have heard many people complain THEY made a mistake and don't want to pay the bank fees. In many cases I would agree. The fees are not to cover costs but to punish customers. If the banks would pay the smallest amount first and work thier way up then this would eliminate about 90% of all fees. I would rather pay one fee to my car payment or mortgage company than many for a lot of merchant transactions. Even if the bank returned all checks it is better to pay one fee for a large check than many fees for a lot of small checks plus the fees from the merchants. For those that want the amount they can over draft set to zero and a mistakes happens either by you or the bank you will be going around to a lot of merchants explaining the problem and paying their fees and maybe not allowed to write checks there again. So instead of paying the largest amount first and working their way down the banks and credit unions should be forced to pay the smallest first and work their way up. As far as rich people paying fees, I'm betting they don't over draft because they have money or can get over draft protection and pay a much smaller fee.

I have heard many people complain THEY made a mistake and don't want to pay the bank fees. In many cases I would agree. The fees are not to cover costs but to punish customers. If the banks would pay the smallest amount first and work thier way up then this would eliminate about 90% of all fees. I would rather pay one fee to my car payment or mortgage company than many for a lot of merchant transactions. Even if the bank returned all checks it is better to pay one fee for a large check than many fees for a lot of small checks plus the fees from the merchants. For those that want the amount they can over draft set to zero and a mistakes happens either by you or the bank you will be going around to a lot of merchants explaining the problem and paying their fees and maybe not allowed to write checks there again. So instead of paying the largest amount first and working their way down the banks and credit unions should be forced to pay the smallest first and work their way up. As far as rich people paying fees, I'm betting they don't over draft because they have money or can get over draft protection and pay a much smaller fee.

Crystal's comment, "For example, let's say you check your account balance at 5:00 PM and it's $100. That night a check is presented to us for $500, and we pay it. Your account is then overdrawn by $400, plus our $33 fee. But at 6:00 the next morning, we receive a Direct Deposit for $700 and credit your account, leaving you a balance of $267. What happens then is that at 8:00 AM you call the bank or check online and see a balance of $267 and you get mad because you don't see the overdraft. All you know is that since last night, we received both a check and a deposit and you want to know why we didn't post the deposit first, but they actually came in on different days. Since both happened overnight it was transparent to you. The bank's computers, however, processed the $400 check late last night with no knowledge of the credit coming in the next morning." ALL banks have a little sign in their window that states all teller transactions AFTER 2:00 p.m. are credited on the FOLLOWING banking day. The analogy of a check coming in overnight and posting to the account immediately and a deposit coming in that morning is giving the APPEARANCE that banks post debits before credits. Bank processing is done in BATCH at night. If a check is presented to a bank AFTER 2:00 p.m. any given day, it will not "post" to a consumers account until the nightly processing of the following banking day. ALL bank teller or manual processed transactions going into the system are TIME stamped. I am an ex SunTrust Bank techie and I'd just like to state this another way. All bank's online and "available" balance are actually the banks best guess at any given moment of what transactions have posted or "will post" to your account within a specific time period. These systems take time to process transactions. ATM, debit's, ACH (automated clearing house) transactions which are direct deposits as well as automated checks/debits, etc. appear to post immediately but they aren't truely posted until the bank's computer system balances the "day's work." The bank processes what they call HOLDS on all debit card/VISA transactions. The way the system sees your account: 1. Online available balance Monday: $100.00 at 5:00 p.m. 2. Handwritten check for $500, presented at any bank branch for payment, Monday at 1:00 p.m. No deposit made by customer before 2:00 p.m. MONDAY. 3. The customer goes to buy items with their debit card, thinking they have $100 in their account on MONDAY. Those transactions are electronic and post an authorization immediately in most cases. The merchant is actually getting an authorization for the debit amount. ALL authorizations automatically "HOLD" that amount of money in the banks nightly processing. It's up to the merchant as to when they process their transactions. If the merchant "posts" the transactions Monday, the customer's account is debited and posted during nightly processing the Tuesday, but the AUTHORIZED HOLD is active and that money is taken away from the customer's available balance on MONDAY. These debit type transactions are not handled the same way a handwritten check is handled. This is the difference between automated processes (AUTHORIZATION) and manual check processes. 4. Bank "balances" it's books daily so when the $500 check is processed Monday night during batch processing, the account is OVERDRAWN by $400. Immediately after processing the online available balance is -$333 which includes the $33 over draft fee. Each of the debit card purchases on Monday are also HOLD transactions that were given to the merchants on MONDAY night processing. So to cover the debit purchases, the bank charges their courtesy fee to each. 5. TUESDAY the customer's direct deposit "appears" in their available balance, but has NOT actually posted to their account. It's a deposit effective for banking business on TUESDAY, not MONDAY, and it is included in the AVAILABLE BALANCE for TUESDAY. The deposit isn't actually POSTED and balanced with the customer's account until processing TUESDAY night. So, all the debits, checks, and fees APPEAR to be covered by a direct deposit, but the weren't the night before when the bank balanced it's accounts. The online banking gives the customer the information it has on the account immediately because it's an actual electronic snap shot of their account so it APPEARS that the bank paid a check before crediting a deposit. How to avoid this in the future...keep a running register of your transactions. DO NOT rely on the bank to balance your checkbook. Banks are not flexible on how postings are done. Banks have to balance their accounts daily. It's ultimately the customer's responsibility to balance their own checkbook. Wells Fargo DID credit back 2 overdraft fees to the customer that originally posted this report. That's called customer service. Banks make money by charging FEE'S when the interest rates are so low. It's big business. If you don't understand how the game is played, then don't play...don't use a checking account, or debit card. Don't cry foul when the game goes against you and in the bank's favor. If this customer had used CASH to make the same transactions, the customer wouldn't have had the cash to make the "trivial" purchases. The bank provided a service by allowing the "trivial" transactions and charged $33 for that service each time it was provided AS AGREED at account opening.

As an employee of Wells Fargo Bank who deals with customer service issues, I would like to comment on your charge that the bank posted several debits to your account before applying the Direct Deposit credits on the same day. This is not correct. It is a misconception that I've heard many times from customers but the truth is, credits are always posted first, IF they come in first. But Direct Deposit credits such as you're referring to (ACH credits) are almost always received by the bank and posted early in the morning, before the start of the business day. So what often happens is when a customer checks his balance online or on the phone in the morning and sees the credits there, he usually assumes that they came in the night before, which is not the case. The checks come in at night, after the close of business, because that is when banks exchange & process checks via the Federal Reserve System; the checks are then debited from the account on that day's work. But the ACH items, including Direct Deposit credits, come in and post early in the morning, and therefore post on the following day's books. This is something that causes many customers to wrongly assume that we post checks before deposits, which is not the case -- unless they come in first. For example, let's say you check your account balance at 5:00 PM and it's $100. That night a check is presented to us for $500, and we pay it. Your account is then overdrawn by $400, plus our $33 fee. But at 6:00 the next morning, we receive a Direct Deposit for $700 and credit your account, leaving you a balance of $267. What happens then is that at 8:00 AM you call the bank or check online and see a balance of $267 and you get mad because you don't see the overdraft. All you know is that since last night, we received both a check and a deposit and you want to know why we didn't post the deposit first, but they actually came in on different days. Since both happened overnight it was transparent to you. The bank's computers, however, processed the $400 check late last night with no knowledge of the credit coming in the next morning. One other comment I would like to add is that at the time of opening, every new checking account customer is offered Overdraft Protection, which, in the case of an NSF check being presented, would transfer money from another account, credit card or line of credit at a much lower cost than the $33 overdraft fee. If you would have signed up for this option, the whole thing never would have happened. And of course, there is no substitute for careful bookkeeping. Many times I've heard customers say that everyone makes this sort of mistake from time to time, but that's simply not true. I've got many customers that have banked with us for decades without a single bounced check.

As an employee of Wells Fargo Bank who deals with customer service issues, I would like to comment on your charge that the bank posted several debits to your account before applying the Direct Deposit credits on the same day. This is not correct. It is a misconception that I've heard many times from customers but the truth is, credits are always posted first, IF they come in first. But Direct Deposit credits such as you're referring to (ACH credits) are almost always received by the bank and posted early in the morning, before the start of the business day. So what often happens is when a customer checks his balance online or on the phone in the morning and sees the credits there, he usually assumes that they came in the night before, which is not the case. The checks come in at night, after the close of business, because that is when banks exchange & process checks via the Federal Reserve System; the checks are then debited from the account on that day's work. But the ACH items, including Direct Deposit credits, come in and post early in the morning, and therefore post on the following day's books. This is something that causes many customers to wrongly assume that we post checks before deposits, which is not the case -- unless they come in first. For example, let's say you check your account balance at 5:00 PM and it's $100. That night a check is presented to us for $500, and we pay it. Your account is then overdrawn by $400, plus our $33 fee. But at 6:00 the next morning, we receive a Direct Deposit for $700 and credit your account, leaving you a balance of $267. What happens then is that at 8:00 AM you call the bank or check online and see a balance of $267 and you get mad because you don't see the overdraft. All you know is that since last night, we received both a check and a deposit and you want to know why we didn't post the deposit first, but they actually came in on different days. Since both happened overnight it was transparent to you. The bank's computers, however, processed the $400 check late last night with no knowledge of the credit coming in the next morning. One other comment I would like to add is that at the time of opening, every new checking account customer is offered Overdraft Protection, which, in the case of an NSF check being presented, would transfer money from another account, credit card or line of credit at a much lower cost than the $33 overdraft fee. If you would have signed up for this option, the whole thing never would have happened. And of course, there is no substitute for careful bookkeeping. Many times I've heard customers say that everyone makes this sort of mistake from time to time, but that's simply not true. I've got many customers that have banked with us for decades without a single bounced check.

As an employee of Wells Fargo Bank who deals with customer service issues, I would like to comment on your charge that the bank posted several debits to your account before applying the Direct Deposit credits on the same day. This is not correct. It is a misconception that I've heard many times from customers but the truth is, credits are always posted first, IF they come in first. But Direct Deposit credits such as you're referring to (ACH credits) are almost always received by the bank and posted early in the morning, before the start of the business day. So what often happens is when a customer checks his balance online or on the phone in the morning and sees the credits there, he usually assumes that they came in the night before, which is not the case. The checks come in at night, after the close of business, because that is when banks exchange & process checks via the Federal Reserve System; the checks are then debited from the account on that day's work. But the ACH items, including Direct Deposit credits, come in and post early in the morning, and therefore post on the following day's books. This is something that causes many customers to wrongly assume that we post checks before deposits, which is not the case -- unless they come in first. For example, let's say you check your account balance at 5:00 PM and it's $100. That night a check is presented to us for $500, and we pay it. Your account is then overdrawn by $400, plus our $33 fee. But at 6:00 the next morning, we receive a Direct Deposit for $700 and credit your account, leaving you a balance of $267. What happens then is that at 8:00 AM you call the bank or check online and see a balance of $267 and you get mad because you don't see the overdraft. All you know is that since last night, we received both a check and a deposit and you want to know why we didn't post the deposit first, but they actually came in on different days. Since both happened overnight it was transparent to you. The bank's computers, however, processed the $400 check late last night with no knowledge of the credit coming in the next morning. One other comment I would like to add is that at the time of opening, every new checking account customer is offered Overdraft Protection, which, in the case of an NSF check being presented, would transfer money from another account, credit card or line of credit at a much lower cost than the $33 overdraft fee. If you would have signed up for this option, the whole thing never would have happened. And of course, there is no substitute for careful bookkeeping. Many times I've heard customers say that everyone makes this sort of mistake from time to time, but that's simply not true. I've got many customers that have banked with us for decades without a single bounced check.

As an employee of Wells Fargo Bank who deals with customer service issues, I would like to comment on your charge that the bank posted several debits to your account before applying the Direct Deposit credits on the same day. This is not correct. It is a misconception that I've heard many times from customers but the truth is, credits are always posted first, IF they come in first. But Direct Deposit credits such as you're referring to (ACH credits) are almost always received by the bank and posted early in the morning, before the start of the business day. So what often happens is when a customer checks his balance online or on the phone in the morning and sees the credits there, he usually assumes that they came in the night before, which is not the case. The checks come in at night, after the close of business, because that is when banks exchange & process checks via the Federal Reserve System; the checks are then debited from the account on that day's work. But the ACH items, including Direct Deposit credits, come in and post early in the morning, and therefore post on the following day's books. This is something that causes many customers to wrongly assume that we post checks before deposits, which is not the case -- unless they come in first. For example, let's say you check your account balance at 5:00 PM and it's $100. That night a check is presented to us for $500, and we pay it. Your account is then overdrawn by $400, plus our $33 fee. But at 6:00 the next morning, we receive a Direct Deposit for $700 and credit your account, leaving you a balance of $267. What happens then is that at 8:00 AM you call the bank or check online and see a balance of $267 and you get mad because you don't see the overdraft. All you know is that since last night, we received both a check and a deposit and you want to know why we didn't post the deposit first, but they actually came in on different days. Since both happened overnight it was transparent to you. The bank's computers, however, processed the $400 check late last night with no knowledge of the credit coming in the next morning. One other comment I would like to add is that at the time of opening, every new checking account customer is offered Overdraft Protection, which, in the case of an NSF check being presented, would transfer money from another account, credit card or line of credit at a much lower cost than the $33 overdraft fee. If you would have signed up for this option, the whole thing never would have happened. And of course, there is no substitute for careful bookkeeping. Many times I've heard customers say that everyone makes this sort of mistake from time to time, but that's simply not true. I've got many customers that have banked with us for decades without a single bounced check.

It was stated that "no one told Wells Fargo to pay the $310 check." You absolutely DID tell them to pay the check the absolute second you signed your name to the bottom of the check on the micr line. This is the same check that you "forgot" to enter into your register. Banks have a policy to pay the "largest" check first when calculating your available balance. This policy is in place to benefit those people who pay a large car payment or mortgage payment and then over draw their account with a debit at 7-11 for a slurpee. In this case...you didn't know they would be deducting the $310 because "YOU" forgot to do your bookkeeping and you continued to use your debit card for numerous transactions. The bank (a credit union operates the same way) is doing a "service" for you by covering all those transactions you were making against a negative account. For that service, you agreed at account opening to pay them a $33 fee for each occurance. The only portion of this statement I see as unfair, is if the bank didn't credit your account with the actual deposits "BEFORE" deducting any checks or other transactions on the account. If you deposited money "on the same day" as the debit, your account should reflect the deposited amount (barring any holds for collection of funds, again read your documentation on your account rules) BEFORE any deductions. It is unethical for a bank to "cause" you to be over drawn with fees." If a check or transaction is actually covered by a valid deposit on the same day, the deposit is posted first, then checks, then fee's. The available balance is the amount of money in your account after the accounting is done for all posted transactions. You're asking here that YOU not be held accountable for checks you write, or purchases you authorize. If I make a mistake I admit the mistake. If the bank makes a mistake, they refund money. Which would you RATHER have - that large mortgage check returned for insufficient funds because YOU forgot you wrote the check or the mortgage check paid and all the other trivial transactions bounced because YOU didn't do your job. Can't have it both ways, now can you?

I worked for Wells Fargo Bank, N.A. for one year as a phone banker. I was the person who picked up the phone when people called about missing ATM cards, overdrafts, stop payments, etc. From my experience working at the bank, I can say with out a doubt that YOU SHOULD NEVER DO BUSINESS WITH A COMMERCIAL BANK IF YOU EVER BECOME OVERDRAWN. Wells Fargo, Bank of America, U.S. Bank - they are all the same. An overdraft can end up costing you anywhere from $12 - $33. The penalty for overdrafts increases with the number of occurances. Legally there is NOTHING you can do except for pay these charges. When you open the account and sign the signature card, you are agreeing to the terms and conditions in the disclosure agreement. That agreement contains all of the dirty little charges corporate banks corporate banks come up with. Since working for Wells Fargo I tell everyone I know to STICK WITH CREDIT UNIONS. When looking for a bank, ask yourself these questions: -Are there branches located throughout my area? -Have I seen print ads for this bank? -Are there ATMs in my neighborhood? -Do they have radio ads? -Do they have billboards? IF THE ANSWER IS YES, ASK YOURSELF - HOW DO THEY PAY FOR ALL THIS? Simple, by ripping you off! Credit unions have little to no advertising, and few branches and ATMs. It is because of their low overhead they are able to charge nominal fees and low interest rates. Good luck!

Those fools did the same thing to me. They got me twice saying I was overdrawn when I was checking my account online and on the phone to make sure that I was not negative in my account. Then, after my e-deposit from work went in, they charged me three more times at $33.00 a pop. I'm gonna go in on Monday and yell at whatever person is working there at Wells Fargo. This is bank fraud. There is no reason on earth that these banks should be able to charge us as much as possible when they have control over the books. I feel like I've been robbed because I have been robbed. All of you guys should feel the same way too.

I WORK FOR A BANK WHICH IS NOT WELLS FARGO WHO ALSO PAYS ITEMS AS A COURTESY AND THEN CHARGES INSUFFICIENT FUNDS FEES FOR THE TRANSACTIONS , SOME CUSTOMERS DO NOT FEEL THAT ,THAT SERVICE IS A COURTESY but honestly if you would read the pamphlets recquired to be provided to you from your bank prior to account opening you would be aware of this COURTESY provided to you by your bank and therfore be able to make a decision on wether or not they are the right bank for you .

Have you tried linking your accounts to avoid overdraft fees this large? I'll admit that I went over once and had two $33 fees charged to my account, but they very kindly removed them and we hooked up our savings account to one of our accounts, a credit card to my husband's account, and a credit card to my account. I again went over once and I was only charged $5 by my credit card for a cash advance to cover the amount. Then the amount of the purchase was just put on my credit card. I do not mind paying only $5. It was really simple to join accounts like that too. When its taken out of our joint account from our savings we don't get charged anything. I really like this service. That way I won't be charged huge fees for insufficient funds checks.

I got hit for $222 in fees for spending $105 dollars. Like you I made a mistake and I am willing to accept that, so I pay one fine and shut my account down. But the reality is banks make as much off of fees as they do off of normal business now. Bank managers actually have fee goals to meet so getting a refund is difficult at best. I was also outraged that for my convenience a $7 purchase cost me $40. I was able to get half of the money refunded to me which I still think is unacceptable. I did find this out though and it will help prevent future screwings from other banks. Your overdraft limit is based on a rating. The rating is based on lenght of relationship, average balances, and things like that. So long-time rich customers can overdraft thousands and new low income customers can overdraft a preset minimum. I was a new customer with few deposits so I could have kept going up to $500 over as I was told by the bank manager. I asked that my overdraft limit be set to 0 on my new account. You will probably have to argue to do this but it can be done, so stand your ground. Also, I think it has to be a manager that does it because it requires editing your account. Now if I make another mistake I will get embarrassed at the checkout by being declined but save a few hundred in the process.