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Property Loss Claim
Posted by Bertoncini on 08/07/2007
MASSACHUSETTS -- My family and I had a fire in December 2006. Our mortgage was through Wells Fargo. Unfortunately the insurance money came in a check w/ the company's name on it. We forwarded it to Wells Fargo to begin rebuilding our lives and home. Then did everything we were told as far as forms and paperwork to get the funds released to us. They informed us they would release the $$ in 3 installments. 1- When initial paperwork was submitted,2- when receipts for proof of spending were submitted and 3- once house was completely rebuilt. 1- Our "paperwork" sat in their fax machine for 3 weeks and the representatives would refuse to look for it when I would call in. I was refused a supervisor, left on hold for up to 30 minutes at a time. Then wait 24 hrs for a return call( which I received without one apology). Once we finally got our 1st check we began the rebuild process. Next was receipt submittable time-which we did. I called to be sure the receipts were received and after a painful hour+ on the phone I finally got someone to see if the info was there.

It was and I was assured if there were any problems or questions I would be contacted. 10 Days went by and no check.. So I called they once again had no idea what they were doing and had not released any money because they said my receipts were not valid, and yet no one called to tell me. After speaking to people in many different departments including the executive office, we found out the problem was that the receipts sent in from the contractors and plumbers,etc did not say paid in full. Are you kidding me? I asked. How could they be paid in full if the company holding my money has only released 1/3 of the $ money we owe them.

Then it took an additional 4 days before we got anymore money. The executive rep was not very helpful either it took her days and multiple message to get any calls back. Now it is completion time and nothing has changed. We did everything we were supposed to (by the book0 and they once again are holding our money. We were told to call in for their final inspection, wait 2 days fax over completion form and within 5 days our final check will be in our hands. We had the inspection on Monday, faxed our form on Wednesday confirmed it was in on Thursday and now on the following Tuesday we will have to wait an additional 48hrs before our check is released. Keep in mind the whole time we are paying our monthly rental( because we can't live in our home), as well as our monthly mortgage payment. I can guarantee they would not wait weeks for their mortgage payment, yet they can with-hold the money to rebuild our house.

My warning to everyone looking for a mortgage-stay far away from Wells Fargo home mortgage!!!!!!!!

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Posted by jlbjody on 2007-08-08:
Oh my goodness, that is terrible. They held your money to make themselves money. Greedy! Never once did they think of the customer and the tragic situation that you had been through. Terrible.
Posted by moneybags on 2007-08-15:
On your home owners insurance, make sure you don't have coverage for cost of living expenses where the insurance company will reimburse you for apartment rent or hotel in event of fire or other catastrophic occurrances.
Posted by Needing a better system w/ins. & mortgage co. on 2010-03-23:
The EXACT same thing is happening with me now!!!!!! UGH!!! Reading what happened to you is honestly like my own story. I can NOT believe Wells Fargo is this screwed up. Every person I have spoken to has been so unprofessional and down right rude. All I want is my money. I have spent 3 times the amount that they are holding and have proof with numerous receipts, but they still will not release the funds as they continue to give me the run around. I've even had a inspector from Wells Fargo come to my home to see that the work has been done, but still nothing. Please, if anyone has a solution to this please let me know.
Posted by bertoncini on 2010-03-25:
the only way I could get any help was to get the corporate phone number. some people tell you there is no way to get it but that is an out rand out lie ask for manager and keep going up the ladder until someone caves in
Posted by Needing a better system w/ins. & mortgage co. on 2010-03-31:
Thanks bertoncini

I called the executive offices early this morning and I was told I would get a call back today (which I haven't) or tomorrow morning. I"ll post again and let you know the outcome. I would truly be impressed if I hear from them as no one has done what they have said to begin with. However, I will contact them in the morning again if I do not hear anything by late mid morning.
Posted by Sooo angry on 2010-07-28:
Same thing is happening to me. Even when I baby sat the paper work going through. (I called everyday) It still took 10 working days after receiving my paper work to process it and release a check. Then they sent the back check via US mail instead of using the ups red self addressed envelope I had sent them.
Posted by Frustration and soooo upset @ Wells Fargo on 2011-08-04:
We are going through this as I type this!! It will be 4 weeks that a huge tree fell on our house. Fortunately we had a "little" nest egg to get the ball rolling to get electric back and so the contractor could order trusses, etc. We are currently out $12,000.00 of our own money and can not get Wells Fargo to send us a check. Every time we call we have to speak to someone different and Wells Fargo's right hand does NOT know what the left one is doing!! If we had not had any money to front these costs... we would still have a huge tree on our open roof and no electricity! The stress is overwhelming and we do not know where to turn from here. After reading these comments I fear we will not get the insurance money... so ANGRY, Frustrated with Wells Fargo Home Mortgage... BEWARE if you are looking for a mortgage company, we DO NOT recommend them!! We pay one month ahead for over 15 years with this company, we are excellent customers and this is what we get from them!!!
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Check holds
Posted by Chrismr2 on 09/05/2007
SAN FRANCISCO, CALIFORNIA -- On 8-31-07 I deposited a check in my business account for $4000 and a cash deposit for $200 totaling $4200. When I made the deposit I asked the teller how long will this check take to clear? She responded, " Five days" Ok, So then I received e-mail from the bank on (09-04-07 advising me that they are imposing an additional time hold, and I could not withdraw the any funds
until September 10, 2007.
SO I call Wells Fargo, and advise them of the policy that was explained to me at the time I deposited the check. They did not care. The rotten bank manager Sandy Chow, tells me they can do that and there is nothing I can do. I told her this is my business account, and my business rent is due today. I explained how I needed the money to pay the rent so I would still have a business. She did not care, I asked her why they could change the bank policy at any given moment to suit their needs, and I have to
accept the changes with any upset. I kindly told the rotten B_______what I thought of her bank policy and her ability to side her bank policy to suit their advantage even if it meant loosing my business. WELLS FARGO IS THE POOREST EXCUSE FOR A BANK I HAVE EVER DEALT WITH. THIS IS NOT OVER. SOMEONE AT WELLS FARGO WILL DEAL WITH THIS B_________'S CONDUCT.

Five ten days, what does it matter to them, or if they screw up and misadvise you, oh well, no you will be accountable for your staff's action's if it is the last thing I ever do.
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Posted by jktshff1 on 2007-09-05:
no offense intended, but it looks like you need an accountant or bookeeper
Posted by Anonymous on 2007-09-05:
"I kindly told the rotten B_______what I thought of her bank policy"

Yeah, for some reason, I don't really think 'kindly' was part of the equation, here.

Posted by trumania on 2007-09-05:
emt_c, I agree. For some reason I think this OP used a few choice words when speaking to the lady. I'm also sure she did't say "I don't care."

I remember something along the lines that one lady called me and flat out told me "You don't care about me! You don't care if I can't feed my family this weekend", boy that pissed me the hell off. I literally told her, "Ma'm I did not say that. I did not say I didn't care about your family. I did not say I didn't care about your ability to feed them. I did not say anything of the sort and did not imply that. DO NOT put words in my mouth. I have not done that do you and do not appreciate it when you do that to me".

Hahah, needless to say she didn't interrupt me and actually hung up on me about 30 seconds after I stopped. That was a really frustrating Saturday morning. *shakes head*
Posted by Suusan B. on 2007-09-05:
The hold time for checks is usually quoted in business days, so let's do the math, shall we? You deposited the check on 8/31 and 9/3 was a bank holiday. So the hold days on the check are 8/31, 9/4, 9/5, 9/6 & 9/7 and the funds will be released on 9/10. Five business days.
Posted by Anonymous on 2007-09-05:
Posted by ejack053824 on 2007-09-05:
This is why I deal with a credit union.
Posted by old fart on 2007-09-05:
Amen e-jack!...the credit union I joined 3 months ago is head and shoulders above the service I got from my last bank. They actually treat my money like it was "MY" money and thank me for the privilege of serving Me!
Posted by Anonymous on 2007-09-05:
I deal with a credit union, myself.

Posted by ThinLazyAmerican on 2007-09-05:
What's a bookeeper?

Does a bookeeper keep boo boos?
Posted by old fart on 2007-09-05:
Naw.... just Boos...LOL
Posted by Anonymous on 2007-09-05:
I also deal with a credit union, but WF was well within their rights to extend the hold, al long as they notified you, which they obviously did. I suspect the item in question was a money order. Every bank is seeing counterfeit money orders on a daily basis these days, and I can assure you they are all extending the holds on them, unless they can verify the item with certainty.
Posted by Anonymous on 2007-09-06:
ROFLMAO, Thank you Suusan B.!!! Obviously the OP does not understand business accounts, every bank uses an average daily balance when check deposits are concerned. Your average was obviuosly below 4K thereby causing a hold on the check and then you went postal on the branch manager (not the wisest of things to do) who happens to make approx. 35k a year and only knows what the board of directors tells them to do. May I suggest that you consult with a good BK attorney, something tells me you are gonna need them. Good Luck
Posted by chrismr2 on 2007-09-06:
Susan B In response to your comment. You missed the entire point. How am I to know they mean business days, and with that in mind, why would Sat's not count. It is a business and it is open for the entire day, why would it not be counted as a business day? As far as the five days goes, if I woulud of been told, it wold take 11 actual days I would of done it another way therefore I would of been able to pay my business's rent. It would of been nice to be advised of any part of this policy. Because the teller did hot advise me properly, I once again have to pay for someone else's mistakes. I am tied of paying for other people's inability to advise me of thier business policies.
Posted by chrismr2 on 2007-09-06:
dealerdirect, I can only go by the advise I am told by the bank employee. And I failed to give you all the boaring details, which were after calling the bank and being very nice to the op on the phone, he told me the only other person who can help me was the manager. SO I called her and was very nice to begin with, and when she told me she would call me back and did not, and when she told me, I should read my book I was given when I opened my acct 10 years ago, to check the bank policies, and it did'nt matter if the tell make a mistake. The policies are outlined in the book Bottom line if I was told five days meant 11 days, I would not of deposited in that bank, I would of depoisted it in Bank of America where I have my, saving accoun where there would of been no hold. But I did'nt because I thought five days meant 5 days not 11.
Posted by chrismr2 on 2007-09-06:
emt c The rotten B_____________was an after thought, not anything that I said to her, as I do have manner and I don't go around yelling at people fot r the kicks of it. This women's ability to handle customer relations leaves allot to be desired. I have a business, I know the customer is alway rigjht, but that does not mean, she can remedy the misunderstaning, but it would of been nice to be treated as though she understood the advise I was given
caused me a great deal of hardship.
Posted by Anonymous on 2007-09-06:
chrismr2 has obviously never read their account terms and conditions. Or for that matter gotten an updated copy. I would think after tens years there may be some changes.

No bank anywhere considers Saturday a business day.

The customer is not always right. If that were the case, you will be out of business very soon.
Posted by grandma005 on 2007-09-06:
I have news for you. Bank of America will put a 11 day hold on a large check or money order too. I know this from experience.
Posted by chrismr2 on 2007-09-06:
Robf Maybe since the bank is open on Saturdays and doing business as usual, don't you think it should be considered a business. The IRS does not allow anyone not to pay taxes on Saturdays because they don't count it as a business day Huh? Maybe they should since they still are making mssoney on Saturdays? Do you think this is a issue where the bank once again has the advantage. As far updated copy of the policy, that is a good suggestion, but my solution today
wiil come when I have a sign and stand outside the bank and hold the sign up that says Wells Fargo "UNFAIR TRADE PRACTICES" IT IS PRINCIPAL NOW! AND WITH THE HELP OF WELLS FARGO I WON'T HAVE TO WORRY ABOUT STAYING IN BUSINESS.
Posted by LarryDan on 2007-09-06:
The Federal Reserve is closed on Saturdays, therefore it is NOT a business day and banking transactions performed on Saturdays are applied on Mondays, unless that is a federal holiday (like labor day). If you do not like this, you should write to your congressman and ask that they push through legislation to change these policies.

Perhaps the check was from someone on the OFAC watch list? That could explain an extended hold.
Posted by ejack053824 on 2007-09-06:
Old Fart...I can present an out of state check for up to $5000.00 at my credit union and they will credit my account that same day without waiting. Bank of America, Wachokeia, and Fifth Third are among the worst in screwing people over on their money.
Posted by trumania on 2007-09-06:
I like how the OP says he's tired of paying for other people's mistakes but takes no responsibility for his own actions. IE, asking to clarify if 5 days means calendar or business days, not reading his Account Rules and Regulations pamplet, assuming Saturday is a business day, when it is widely known as NOT being a business day.

As far as "the customer is always right" well... you may be losing money with your business in the future. It's people like you that give businesses a hard time. When people break a product and come in saying it was poor workmanship that caused the laptop that fell down a flight of stairs to break, does that mean their right? HELL NO. They are taking advantage of the company and turn around and shout "POOR CUSTOMER SERVICE" when the company says no to a replacement.

The customer is NOT always right.
Posted by uclabio on 2007-11-21:
I deposited a check yesterday for $1000.00 and the teller told me that they would credit my account within 24 hours. I checked today online and noticed that that check was on hold for 7 more days. This was not a 3rd party check or one from some European lottery but one from one of the largest 401(K) providers in the country. I called customer service and I spoke w/ 2 reps and neither one could tell me why they decided to hold my check. How can they be so clueless? They truly don't give a s**t about their clients. They couldn't even tell me who would know whats going on or wo to contact. I've been a customer for nearly 6 years and once that friggin check clears, I'm closing the account. Wells Fargo SUCKS.
Posted by seatime37 on 2008-11-15:
Posted by frankieMN on 2008-11-29:
I think your bank is screwing with you. My credit union has pulled the same crap. Federal banking regulations state that local checks under $5000 must be available on the second business day. For checks over 5k the first 5000 must be available the second business day and the remainder within 5 days.

They'll also try to pull the "out-of-town" check BS too. The term means nothing. The Federal Reserve uses the terms local and non-local referring to the 4 Federal Reserve check processing centers. If you're in Minneapolis depositing a check from Cincinnati its still local because the cities use the same processing center.

Good luck trying to do anything about it. Banks will stonewall as long as they can. Unless you're some billionaire your tiny account doesn't mean anything to them.
Posted by concerned on 2012-12-04:
why doesn't this all work out. you write the check on a held account and that check should not clear for 5 days either, right. wrong, the bank is set up to use your money and collect fees that will increase profits. result, customers gets screwed.
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Delay Posting On-Line Payment to Charge Fees
Posted by Ssolomon56 on 08/21/2007
NEWARK, CALIFORNIA -- We are in Wells Fargo Mortgage Hell!

About 4 years ago we re-financed our home with Chevy Chase, and it was almost immediately bought by Wells Fargo. Thats when the trouble started. The only good news is that it's a 5.25% mortgage...so it's a good deal. After the 1st year, the payment coupon book was depleted, and they never sent us one again. So...we had to go into the bank every time to make our payment. This got to be cumbersome, and I set up all of our banking on BofA on-line. Terrific you'd think right?

Our mortgage payment with Wells Fargo is due by the 16th of every month. So, I set it up for automatic payment on the 15th - starting Jan '07. In mid July we heard from Wells Fargo for the 1st time to say that we owed them over $600 in late fees from being late each month since January. At first I thought it must be a BofA error - but no! They showed that they had delivered the payment on time or early every month. But....Wells Fargo didn't credit our account for 2-6 days after receiving payment, and then charged us $103. every time.

We printed out the banking on line statements...and brought them to the bank. No one there could help us - basically they said that we had to call the mortgage department, which we did. They wouldn't remove the fees...and basically said "too bad".

For the August payment, my husband went into the bank on 8/14 to make the payment PLUS all the fees to avoid more late fees pending resolution of this. We just got a statement from them yesterday. It showed a late fee imposed for August...and all the late fees still owed.

We're taking them to court.
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Posted by Anonymous on 2007-08-21:
Question: did you set up the automatic payment to happen on the 15th, or to happen earlier to arrive by the 16th? If you are due on the 16th, a payment that priginates on the 15th is going to be late.
Posted by Anonymous on 2007-08-21:
If they actually send out a bank check, it can take up to a week to received/processed/clear.

It depends on where BOA mails the check and where your mortgage company is located.

If they do direct transfer, it may take more than 24 hours, especially on holiday or before the due date, etc.

Either way, one day prior to due day is too close for comfort.
Posted by ssolomon56 on 2007-08-21:
We set it up so that Wells Fargo would receive it by the 15 - which they did. They just didn't process it for several days.
Posted by Anonymous on 2007-08-21:
Well, it is time to take your business elsewhere.

You may have to pay for higher rate but get better service.
Posted by ssolomon56 on 2007-08-21:
It's also interesting that they waited for 6 months before telling us that there was a problem at all.

Also...how can they justify charging a late fee when we actually walked into their branch to make the payment two days before it's late!

Posted by trumania on 2007-08-21:
You said you setup your automatic payment for the 15th, if you set it up through your bank they usually tell you to set it up at least 3-4 days before your due date to ensure they are able to get the payment out to the payee on time.

It's not really surprising they didn't call you, they can't call every customer who is delinquent. Usually if you have a mortgage you should be able to have online access to view the mortgage status with the next payment due, the last payment made dates and the current balance.

You should look into setting this up, you can never trust anyone else to look out for you, you have to do it yourself, sad part of life.
Posted by trumania on 2007-08-21:
Straight from the Wells Fargo website regarding Bill Pay Payments:

"# Schedule your payment. Tell us the amount you want to pay, and when you want the money to be taken out of your Wells Fargo checking account. We’ll let you know how much time to allow for each payee — it’s usually up to three to five business days before you want the money to get there. See how to make a payment."

So if you bank with Wells Fargo and you setup the payment date for the 15th, there is the possibility it won't be processed until the 22nd, 5 business days.

In all reality the Bill Payment should be scheduled for around the 8th or 9th. The money will come out of your account immediately but the Payee (mortgage Dept) might not receive it for up to 5 business days.
Posted by jktshff1 on 2007-08-21:
Had a first Mortgage with WF..started out as something else 30yrs ago..never had problems doing on line payment as long as I set the payment up right. Actually a good experience.
Posted by *Brenda* on 2007-08-21:
The OP didn't set it up for the 15th. She set it up to be received by the 15th.
Posted by trumania on 2007-08-21:
So, the OP did actually schedule it to be taken out of her account around the 8th/9th of each month? If that's the case, then Wells Fargo should have had enough time to receive it.

The post is not clear enough to see that the automatic payment was setup with enough time (days in advance) to processed.
Posted by moneybags on 2007-08-21:
Warren Buffet owns wells Fargo.. The rich just keep getting richer................all at our expense.
Posted by Anonymous on 2007-08-21:
If you want to complain about Wells Fargo Bank, send a written letter via certified return receipt to: Office of the Comptroller of the Currency, Consumer Affairs Department, 1301 McKinney Street, Suite 3450, Houston, Texas, 77010-9050, Tel: 800-613-6743. Also, send a written complaint to your State Attorney Generals Office, Attn: Consumer Affairs.
Posted by ssolomon56 on 2007-08-22:
I set it up for Wells Fargo to RECEIVE the payment by the 15th. Which they did by B of A. Trumania....I don't see anything unclear about this. Also, your comment earlier about the fact that I shouldn't expect a call. Well, I didn't expect a call...But, they chose to wait for 6 months before even sending me any kind of late payment notification. I never get any mail or bill from them at all...even after repeated requests.

FedUP - Thanks so much for your suggestion. I will be proceeding with this.
Posted by trumania on 2007-08-22:
I talked to someone more familiar with mortgages about this specific situation. He said Wells Fargo actually gives you 15 days to make your payment. So 15 days from the due date. I guess this is a sorta... grace period for you to get your cash in or so you have time to actually send the payment?

I would suggest sending the payment closer to the due date and not towards the end of the payment time frame.

Also, if you print out your banks statements saying the money was taken out of your bank account during that period and fax it to their claims department or a manager so they can see your documentation of your actions, basically your proof of payment. Also you should look into any of your service agreements to see if it says it will take any time to process an online payment.

Oh and ssolomon56, there are quite a few things that are unclear. You said, "So, I set it up for automatic payment on the 15th - starting Jan '07" Did you set up your online payment through Wells Fargo's Mortgage online services? Or did you set it up through Wells Fargo banking?

This can be confusing so here is another example. If I have a Capital One credit card I can setup an automatic online payment through their website. Or, alternatively, I can setup an automatic payment through my banks online bill pay system which, with most banks, generally takes a few more days to process.

Also, since you say you have not be receiving any sort of balance statements or payment receipts from Wells Fargo why haven't you called them since January to ensure everything was well? I would think if the company is not providing you any information you can take 20 minutes out of the month to call to make sure YOUR mortgage is in good standing because mistakes happen all the time.

Also, why haven't you signed up for online access to your mortgage so you can monitor the status of your loan?

My mortgage expert and I both agree, you are at fault here and are trying to pass the buck. You cannot expect a company that was created to make money to look after you, you have to do it yourself.
Posted by ssolomon56 on 2007-08-23:
Trumania.... Thank you for taking such an interest in this situation. But, please move your interest to someone else's issues. I don't appreciate your tone.
Posted by trumania on 2007-08-23:
ssolomon56, that's fine. I've known countless people who call me rude or whatever when I point out flaws or things they could have done so the situation did not escalate.

But, if you're looking to complain and then have EVERYONE agree with you, well that's just not going to happen. Good luck in the future, hopefully you'll remember my 'tone' and will take an active interest in your financial situation in the future to avoid situations like this.

Good luck.
Posted by Realtorwithattitude on 2008-06-06:
My heart goes out to you ssolomon. As a REALTOR I help others buy and sell real estate and one of the first things I tell them is to shop for the mortgage. The mortgage will cost the average customer many times the price of the home over the course of the mortgage term.
I have heard may disparaging remarks from my aquaintances about Wells Fargo Mortgage so be assured that you are not alone. My advice is to follow through with your plans to bring Wells Fargo to justice. I find it incredible that the same bank that practices these policies is able to gain immediate access to your funds when an overdraft or other fee occurs. The fact that they refuse to process payments made at their bank immediately is appalling, unfair and possibly illegal. At best it is aa act that is despicable. Needless to say I do not recommend the services of Wells Fargo Mortgage to my customers. I do recommend Countrywide and Bank Of America.
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Inflated bank charges
Posted by on 05/07/2002
Today I made a small mistake, I went overdrawn $68. No big deal, right? A mistake on my part and one that's happened before, yes. Surely Wells Fargo would charge me $30 bucks, I'd pay the overdraft, no problem. Wrong! Today they charged me $187.50 in "fees".

Yes you read that correctly $187.50 for being overdrawn less than one day.

$30 bucks every time I'd paid for a coffee or something with my ATM card, a total of six times for $180. The extra $7.50 came from transferring a whopping 24 cents from my savings account in a vain attempt to cover the $68. I explained to customer service that I had deposited the money the same day to cover the overdraft and could someone please reverse at least some of the charges. "No!", it was my fault because I had made the mistake, not the bank.
"A mistake that you customers tend to make and should be penalized for. . ." all while Wells Fargo takes care of my $80,000 a year earnings. I tried to rationalize the cost that Wells Fargo might incur because of my miscalculation but there is virtually none according to a supervisor I spoke to, "It's all automated". These "fees" were there as a punishment to prevent these sort of problems. Funny that, I thought I was with a customer service organization not a penal colony.
So I looked at the charges, one large check that had cleared earlier than I expected was the culprit. It cleared the same day as all my six little charges, so I asked the bank "If that big check had been the last one to clear wouldn't my fees only be $30?" "No!" you see Wells Fargo pays all the big stuff first just to make sure they ding you for all the small charges. I asked "Why did you OK the six charges?"
"You had money in your account then!" If I had money in my account why are you charging me?????
Is this the way businesses treat people today? One minute we're all a team, Americans together, standing tough against the financial hard times, and the next, as the memory fades, we're back to screwing each other for every penny we can get. Some national spirit Wells Fargo.

I spoke to a friend today, she had the same problem, $300 in Wells Fargo fees! She suggested changing banks, and today I did. My new Washington Mutual account has a fee maximum, a gold card and the branch is closer too....

an ex-Wells Fargo customer of 10 years

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Posted by Anonymous on 2002-05-08:
You did exactly what you should, take your business elsewhere.
Posted by Anonymous on 2002-06-23:
Rude, rude, rude. What is "CUSTOMER SERVICE"?
Posted by Mztwinkle on 2004-07-31:
I had the exact same experience with them, only I do most of my banking online. I saw that 5 small checks had cleared, a couple of days later, the 5 small checks were taken off and a big one put in it's place, with the 5 smaller ones below the big one that hadn't even been posted 2 days before. they charged me, you guessed it $150.00 instead of the $30 it should have been. X-Wells Fargo customes of 9 years.
Posted by lendinghand on 2006-06-07:
Thank you that I am not the only one who is going through the same problem. Having a bank are suppose to be a security for every individual but in essence all they want is to squeeze every single drop of money that I worked so hard through the years. What can I or anyone out there be able to get ahead if they will take what's due them before the benefit of the customers. I solely believe what my great great grandparents use to say, it's better to hold on to your money where it is safe than letting these institution use for their advantage. I concluded to go with the old fashion way of saving my money CASH only at least I know what i'm spending every single penny and not just blowing it away on banking fees which they never really care from the time you open your account.I am very angry, these banks need to be shaken by taking the next step to the justice of which the sections of law that protects the consumer for being terrorized by these big corporate financial institutions. Let's put a STOP!!!! and make a difference starting right NOW.
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Wells Fargo's service encourages foreclosures
Posted by Tony-Texas on 10/26/2007
PLANO, TEXAS -- Like many folks, I've had a bad year with job/income issues, but I got things back on track this Fall. By August, I was 2 months behind on my Wells Fargo mortgage and I called WF Customer Service to request a loan modification to assist in my recovery. The WF representative gave me directions to request this and I did so immediately. The WF representative also told me that based on my equity, income and financial situation, that I was an excellent candidate for this and the approval process should take 30-45 days. On Sept 1, WF mailed me a letter requesting additional income verification docs, and I responded immediately.

I called WF weekly to check on the status and they kept telling me that they are overwhelmed with requests and don't call us, they'll call me. In early Oct, I insisted on an update and they admitted that my request had been misplaced and I needed to resubmit my income verification docs, because my initial docs where over 30 days old. I did so immediately and the representative told me the process should now take 30-45 days.

A few days later I received notice that WF has initiated foreclosure proceedings with a sale date of Nov 6.

I called WF immediately and they said that the 'Negotiator' is aware of the sales date and they "HOPE" the 'Negotiator' will LOOK at my loan modification request before the sale date. Which means, on Nov 5 Wells Fargo may, or may not, inform me that I will be homeless on Nov 6.

The frustrating part about this process is I have been prompt with this application process and all I am trying to do is to get back on my feet without a long-term devastating impact to my family.

Every day I see the CountryWide CEO stating "we will work with all homeowners if they are able and willing" and then I see Wells Fargo doing the opposite by encouraging foreclosures.

It just makes me sick!
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Posted by Suusan B. on 2007-10-26:
Once you got "back on track" did you resume making your mortgage payments and try to catch up or did you just stop paying all together while you were waiting for a new loan to be approved?

All the hoopla from Countrywide about helping people restructure their loans is misleading. If a borrower has an ARM loan that has adjusted and they can no longer afford it, Countrywide will allow them to re-apply for a new mortgage only if they qualify under current guidelines.

If what you are saying is true, I'm not saying that Wells Fargo handled your situation correctly, but it is not in their best interest to encourage foreclosures as they only lose money.
Posted by jktshff1 on 2007-10-27:
You need a lawyer...fast!
Posted by Anonymous on 2007-10-27:
You were only 2 months behind.
Don't you have family or friends that could have helped you out with the 2 payments ?
Good luck.
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Wells Fargo Greed Beyond Belief
Posted by Jfs on 08/12/2007
I have been a wells customer for over twenty years and have two accounts there . One is primary and the other is for my brother who I am responsible for . I watch them as they take checks on someone's account and juggle them around for days until they find you short even a few cents and then charge you a fee of 34 dollars there is no consideration for the amount of time that you have been a customer or how your account is handled but they do consider a business owner and waive any fees for them. Or how your account is handled . If you slip up one time they will charge you all they can and say there is no bank error. I had this happen for a one dollar overdraft which cost me 174.00 Dollars. I tried to get them to take off some of the charges and they said no bank error and we won't do this . They also will take the biggest check first so that they use up all the money in your account that they can use and then ding you for lots of small checks so the can get the most out of you.

How greedy can you be. I know endless people that have left this greedy establishment and closed their accounts for their greedy practices.
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Posted by jktshff1 on 2007-08-12:
get a better accountant
Posted by Extended Warranty on 2007-08-12:
Banks really should send out disclosures of fees with a * that notes only applies to new member, long term members get NO FEES. PARTY TIME!
Posted by Anonymous on 2007-08-13:
If you want to complain about Wells Fargo Bank, send a written letter via certified return receipt to: Office of the Comptroller of the Currency, Consumer Affairs Department, 1301 McKinney Street, Suite 3450, Houston, Texas, 77010-9050, Tel: 800-613-6743. Also, send a written complaint to your State Attorney Generals Office, Attn: Consumer Affairs.
Posted by trumania on 2007-08-19:
Accurate register prevents this problem. Write down all your transactions and you won't spend more money then you have.
Posted by artdelaura on 2008-07-12:
I just got off the phone with WF to only learn that my online payment has been posted to my other account, in which I supposedly owe 200 dollars more than what I paid. I told her this was a mistake, because WF collections were calling me today for the account I paid online. So the WF rep tells me that one of my accounts were not registered online so all payments have been sent to the other card, IF that is the case then I would not have owed the 345.oo they said I owed on the other account, I told her I can see my account online and it does not say 345.00 it said 101.00 so I paid that one one card and 200. on another card in which she said was not registered blah blah blah. I told her WF is always right and that I have to pay for the fees that they are acquiring on my account anyway so why bother even complaining. I wish I had my wits about me and was so upset to say if that is the case then my no registered online card would be in collections months ago....I want to complain because they seem to keep doing this to me and I would love to just pay them off, since they keep charging me I cannot seem to get them down. So Do not pay online because their IT department just sits around on their bums, but I am sure even if I mailed it there would be issues too. So I will be going to the BBB, but does that really matter?
Posted by estefan2020 on 2008-12-25:
sorry to let you know all banks do bulk transactions in the form of the highest ammount to the lowest ammount, inorder to recieve the most fees from their coustomer, I to mean ALL banks. You may wish to shop from one bank to another, and ask them, you will be in for a unplesent reallity. You may want to in the future concider a small cussion for your account. When your register goes under $100, do not make that or other tranactions untill a deposit is made, therefore you will have a small way for the average person not to pay bank fees.
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Wells Fargo Bank - Practices
Posted by Burt09 on 03/11/2009
On Feb 19 I mailed a check, drawn on my WellsFargo account, from California to the GMAC payment center in Arizona.

-I got paid on Feb 20th (Friday) and on Saturday the 21st at 10 am I deposited my check. I was told at that time my GMAC check for $500 had bounced on the 20th.

-I question this since I did not understand how the check had gotten from CA to AZ -via the mail- and the fund drawn from my account in one day. I viewed a copy of my check online at Wellsfargo.com. While the front was very clear the back was totally unreadable. I contacted customer service and requested a better copy so that I could ascertain exactly what time this check was processed. They told me that was all that was available, that they had no legal requirement to provide me with another copy and that all he could tell me was that the check was processed on the 20th and I basically had to take their word for it

-I used my ATM on the 20th and still had about $300 in funds according to the slip.

I believe that Wells Fargo actually processed the check later than they stated and only applied it when I went into the bank on Saturday the 21st. They then credited my account before applying my deposit that morning.

What follows next, thanks to the intensive lobbying the banking giants conduct in Washington, amounts to legal larceny aided and abetted by our elected officials.

They posted various small ATM purchases that I had made over the previous few days resulting in a cascading series of fees which is now about $400.

1) Wells Fargo has engaged in sequencing the charges in such a way as to maximize the amount of charges they could attach to my account.

2) If they are going to charge me then I deserve to have a copy of the check back that is legible or they need to provide the original check. I see no reason that I have to accept their word esp given their history of deceptive and predatory tactics.

3) I did not set up overdraft protection yet they will selectively honor purchases and e-payments after they overdraw the account anytime this results in a lot of fees for little risk ie. they won't honor a $200 charge but will gladly allow an automatic $1 charge that then earns them $35.

They will deposit my checks with no hold for weeks at a time but hold the check for 3-5 days when doing so will force the account to be overdrawn by pending ATM charges.

They will delay notification that the account is overdrawn and fees were being assessed to maximize fees - I received written notice 5 days after the fact.

I believe that Wells Fargo has not only acted dishonestly in this matter they have acted criminally. I believe that this process of sequencing the transactions to extract greater fees preys largely upon those who can least afford it because their accounts would be the least cushioned and most vulnerable to this predatory tactic.

I strongly recommend going to helpwithmybank.com to find out who regulates your bank and file a complaint. Contact your congressman, newspapers and blogs. Move your money to a credit union if possible as most seem to not charge these fees.

Oppose giving stimulus money to these banks until they clean up their act. Otherwise they are only going to use our own money to pay us back if the class action suit is successful essentially spitting in our faces.
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Posted by Anonymous on 2009-03-11:
I agree 100%. Your congress-critters snuggled up cozy with the bankers many years ago. Good luck writing those letters unless you enclose a hefty campaign contribution. In other lands, self-serving politicians and their toadies get 'necklaced' with a burning tire in front of their home. I don't think America will be any less vulnerable to people resorting to violence once the people get their bellies full of the abuse.
Posted by woodsk1 on 2009-03-11:
Most places now deposit checks electronically. So the check is scanned and an image is deposited and the check follows. Check with GMAC to see how they make deposits.
Posted by Anonymous on 2009-03-11:
The back of the check is critical. I suspect that the OP is right. Wells Fargo processed the check on a later date (22nd or 23rd), but they applied the credit to the account before the deposit on the 21st. All designed to increase their income via fees. That the back of the check is not legible and they are not willing to provide a clear copy is suspicious.
Posted by Soaring Consumer on 2009-03-11:
Yes, it is definitely suspicious, right on the borderline of fraud.
Posted by burt09 on 2009-03-11:
The front is clear and reasonable quality. The back is illegible and even somewhat pixelated -as if it was a lower resolution. I use Photoshop professionally yet even with all the tricks I know there is no way to enhance it because it is such low quality.
Posted by Anonymous on 2009-03-12:
Just curious, burt. Are the backs of all of your checks illegible? It if is only this one, that certainly is suspicious. But, if it is all of them, you may still have a case against the bank for not using a method of check reproduction that is accurate. As I recall, digital reproductions are required to be 'accurate and representational' and sufficiently clear to substitute for the original in any legal proceeding. Worth a shot.
Posted by burt09 on 2009-03-12:
I can't see all of my transaction as they seem to limit the amount of transactions you can view now - have to request copies for older stuff- but of the 10 or so check images I have available all are completely legible on the back except for that one.
Posted by Anonymous on 2009-03-12:
I'm sure WF will cry 'coincidental'. But what if 'coincidental' affects 100, 1000, or 10000 other customers for fees equal to what you are fighting? It could certainly point to motive. I'm not a lawyer (and the site trolls doubt I am a physician) but I think you have something worth pursuing. Depends on how hard you want to push. Maybe a carefully crafted letter from an attorney indicating your willingness to pursue the 'coincidence' here will get your fees waived. If you cannot prove the check was improperly processed, WF cannot prove it was. Any judge would force WF to prove this. I doubt WF would send its legal team to your local small claims court. And, if they did, that too is telling. Good luck with this. It may have legs.
Posted by burt09 on 2009-03-12:
I will be crafting a response over the next day or so then we'll see how it goes. Thanks.
Posted by burt09 on 2009-05-01:
Update: I filed a complaint with ftc.gov which enters it into a database which is searchable and can be used to reveal patterns of wrong doing.

I filed a complaint with the Office of the Comptroller (use helpwithmybank.gov to find who you need to contact). I have gone back and forth with letters and forwarded all correspondence with WF to them. They cited the Check 21 Act and I read it and verified that indeed the front and back of the check need to be legible. They contacted me with a letter intending to pursue collections , file negative reports etc and I notified them that since there was an active case being investigated they shouldn't be contacting me. It appears they then sold the debt to another agency because I got a collection notice and have to do that all again with them. All copied to Office of the Comptroller. I also filed complaints with the BBB, and sent letters to several news desks, my congressman, the White House and many blogs. I am incensed. they don't really care. Even if I eventually get back my money -after sweating blood to do it- unless they are legally made to change their ways they won't even notice my efforts. Too much money involved. Unless you need the services of a big bank explore the credit unions in your area.
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Wells Fargo Unfairly Adds Insurance To Loans
Posted by Paulwj on 01/09/2008
WACO, TEXAS -- I have been a customer of Wells Fargo Bank in Waco, Texas for 4 and 1/2 years. I began doing business with them when I financed my house with them in 2002,August. In August of 2006, I used Wells Fargo Auto Finance to finance a collateral loan on my 2006 Mazda. I have always had full coverage insurance on my car. When my insurance renewed in July 2007, I received a letter from Wells Fargo stating that they had not received a copy of my renewal. I insisted that I did indeed have the insurance, however, they wanted me to fax them proof. I felt that this problem would cease-WRONG!! After a few letters from Wells Fargo I went to my local branch on Bosque Blvd. here in Waco. They called auto finance and I was told that I would need to fax my declarations page to them-the branch could not help me. So I went to my insurance agent and they faxed my insurance info to Wells Fargo. This was around mid-November or early December of 2007.

On December 10, 2007 they and Balboa Insurance, their insurance provider sent me a letter stating that the coverage they had was being cancelled and they would refund me part of the premium. I HAD FULL COVERAGE TO BEGIN WITH IN THE AMOUNT NECESSARY!!! Sunday, January 6, 2008 Wells Fargo calls me at home concerning my late payment. They said what I owed, which I disputed. I disputed the amount that I owed because it included insurance. On Monday, January 7,2008 I went to my local branch again. At the branch they were helpful. They faxed my info yet AGAIN!! Today, I received another call. Again I disputed the amount owed. I was told to call Balboa Insurance, which I did. Balboa acknowledged that they had received my info and that it was correct. However, they need me to get my insurance agent to on the phone with them to cancel. I wonder what their next excuse will be?

Wells Fargo has tried this before with my house insurance. They also like to call starting at around 8am til 9pm to remind me that my payment was due on the 5th and that this is the 6th. I encourage you to stay away from Wells Fargo Bank. When I am able I will take my business elsewhere!! I think that they are trying to fleece their customers by adding unnecessary insurance.

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Missing Money
Posted by Pistolgrip on 10/03/2007
ENCINO, CALIFORNIA -- I balance my checking account every day, to the penny. I keep all my debit and credit slips. I'm finding hidden charges in amounts that have nothing to do with the terms of my account. I find debits of 10.00 or even as much as 60.00 missing from my well kept balance. I've addressed the issue with the bank, they tell me to re-check my figures, that I may have made a mistake. I know I have not. I believe Wells Fargo is ripping me off with "hidden fees" or just stealing from me.

I will close my account soon. I will find a better institution. ASAP!!!

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Posted by Anonymous on 2007-10-03:
What is the reason listed next to these charges? That should help you pinpoint whether or not is your error or the bank is assessing additional fees.
Posted by Anonymous on 2007-10-04:
If you want to complain about Wells Fargo Bank, send a written letter via certified return receipt to: Office of the Comptroller of the Currency, Consumer Affairs Department, 1301 McKinney Street, Suite 3450, Houston, Texas, 77010-9050, Tel: 800-613-6743. Also, send a written complaint to your State Attorney Generals Office, Attn: Consumer Affairs.
Good luck.
Posted by Anonymous on 2007-10-04:
When you balance your monthly statement (you do that, right?), how do these phantom items appear on the statement? If they are truly not yours, you are allowed to dispute them with the bank.
Posted by steve101 on 2007-10-04:
Call the bank and ask them "what is this 10.00 debit for?, and what is this 60.00 debit for? Then let us know what the bank said.
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Fraudulent Business Practices
Posted by The Rock on 06/23/2007
PHOENIX, ARIZONA -- On 1-27-07 I sent three car payments in to Wells Fargo Auto Finance company in advance to cover me for Jan, Feb, & March car note well low and behold I thought I was paid up until the month of April I received a letter from them in March stating they have not received my car payments good thing I saved my money order receipts. Somebody in that company never posted my payments to my account apparently somebody in the company pocketed my money now they are coming after me for the payments now the funny thing is I have sent them proof of my payments but they are still claiming that I have not paid them they are ignoring the proof of the money order receipts and now trying to send the rrepo man after me. How is that for a kicker in the old keister. So if any of you out there have anything to do with Wells Fargo Auto Finance or Wells Fargo Bank I would advise you to switch to someone else and have nothing to do with this company ever again because sooner or later you will fall victim to there fraudulent and extortionary business practices.
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Posted by CrystalSword on 2007-06-23:
I asked once about sending in payments ahead of time and was told anything above the actual payment would be applied to the principle part of the loan but that I still had to make the monthly payment on time. I explained I was going on vacation and they suggested I find someone I trust to bring the payment in or mail it just before the due date. And this was not at a Wells Fargo. I did find the need to drop off a payment that would be due while we were on vacation at a company we had a small loan with and we put it in an envelope and dated it for the first, hand delivered it and they put it in their office safe until the date on the envelope, at which time it was opened and posted...American General was very nice about this, and I didn't have to worry about it getting there while we were gone. It was just a matter of a few days and we explained that our money wouldn't be in the bank till the 30th so they worked with us.
Posted by runaway on 2007-06-23:
Do you have proof they received the money orders? I do hope you sent them "return receipt", otherwise, they can state they must have been lost in the mail (or maybe they have been!)
Posted by poppapia on 2007-06-25:
As Crystal said, anything received over your normal payment amount would be applied to principal, but would not relieve you from payments the next two months, unless you sent in three loan payment coupons with the payment. If you failed to do this, then you are still obligated to make the monthly payments, as scheduled. Not many consumers understand this, and only find out the hard way.
Posted by radrman on 2008-01-09:
You had better check at Wells Fargo and see if they applied your "extra" payments to interest. That is what happened to us. We made the mistake of paying a double payment thinking that would cover us for a two month period. However, we kept getting calls saying we were behind, but no one could explain how we were behind. Finally my wife spoke to one of the CSR's and she said that Wells Fargo applies all extra money sent in a payment to interest, not principle. She said it was in our contract, but that if we waited three days between payments, the system would post them as a monthly payment.
I thought it was up to the customer to decide where extra money was supposed to be applied. We are having an attorney review our contract to see if these is such a clause, and if such a clause is actually enforceable in the state of New Mexico.
Wells Fargo is a horrible auto loan company!
Posted by franciss lynn on 2011-11-04:
Yes Wells Fargo are corrupt.Incompotent and it is too bad that Mr.Buffet who actually OWNS wells fargo really either has no imput or has no care in the world as to his money and the people that he is recieving his money from in this institution or if he really had any idea of how this company in ran.They PUT THIER OWN insurance onmy car EVEN though it ALREADY had full coverage on it and they mistakenly misplaced ALL records of my account and TOOK my car in the middle of the night and had it towed to Tampa which is across the state from where I live and I had do deal with all the bull crap on the phone with insurance companies and them PROOVING that they were in the wrong entirely and I MADE them bring my car back to me even though IT WAS ME that HAD to call the wrecker and explain what THEY did and he did bring it back and as well as my car was stripped of ALL my belongings that were all in BLACK BAGS that was the sure sign that it was ready to be AUCTIONED in DAYS.They NEVER EVEN SAID THEY were SORRY for the inconvienece or that THEY MADE a MISTAKE.They tried to stick to me some form of FALSE INTEREST payments they claim I owed but I refuse to be under their control and they will owe me.I even did all I could to report this issue to several news stations and lawyers and GUESS WHAT??? NO ONE WOULD HELP ME.Mr.WARREN BUFFET,how sad it is this is how your company is ran by your people that you think you trust and really you must not care so much about any outsiders who put the cash into your account.
Posted by j edgar on 2012-03-19:
Wells Fargo told me that I was 73 days past due and that I was threaten with repo within 10 days. I didn't think I was that late with payment. I sent my payments every month. Of course I was late once or twice, but not 73 days. I don't know how they keep track of how many days I am late. This is a corrupt company. The problem is that if they want to take my vehicle, wells fargo has to go through the tribal court system. My vehicle is located on an Indian reservation. For them to repo my vehicle, they would have to get permission from the tribal court.
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