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Wells Fargo 203k Is a ripoff
Posted by Fiji on 01/06/2010
VIRGINIA -- My wife an I applied for a 203k Construction loan for a home addition. AVOID THIS PRODUCT!! At the very least don't use Wells Fargo. They are unresponsive, and the process takes forever. We began this process 3 months ago. We met with the loan officer, went over the application, filled it out, and then the fun began. After collecting our application fee, there was the long wait for the appraisal. We had to call repeatedly to get this scheduled. Once the house was appraised we started getting item after item that we needed to fill out and send back. Despite top notch credit ratings, a good home appraisal, and stable employment, they continued to find a little item here an there that they needed us to submit. After 3 months of answering their questions, they said our information was "out of date" and wanted the same stuff all over again. They then wanted us to submit an audit from an accountant. AN AUDIT! Our accountant told us this would cost us $4,000! All of this an we have not even been approved for the loan yet!I finally had enough and walked away, 4500 poorer for my effort. They are happy to collect your $500 application fee and the throw road block after road block in your way. Your loan officer will not tell you this. He will then blame it on the underwriter who will blame it on FHA. If you want a construction loan, I suggest you try another bank. They could not be any worse than Wells Fargo.

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Wells Fargo yanks my line of credit
Posted by Maninthemoon850 on 09/20/2009
SEATTLE, WASHINGTON -- I have banked with Wells Fargo for 10 years. When I started banking with them, they provided me with a $150,000 unsecured line of credit. I have handled the line meticulously and during this period I have increased my cash flow and net worth by over 3X. My credit score is near 800. This year-- 2009 will be one of my best years yet. I am a private investor that makes hard money loans to people on primarily single family homes. Unlike Wells Fargo, the only loss in over 25 years of doing this is $10,000. And that is out of probably $8MM to $9MM in loans.

In mid-July I received a letter from some yahoo in Walnut Creek by overnight mail signature required. I had to drive to the other side of town to pick it up because I am rarely home. Picked it up and the letter said to "assure continued availability of the line" I needed to overnight them copies of my financials, IRS, and every financial account I had anywhere on anything. Did that the next day and did not hear anything from anyone until mid August (my line expired Oct 1). In mid-Aug. I was told by my private banker that WF would renew the line if I kept on deposit 2X what I borrow on the line. I laughed. Would they term it out? The officer did not know and she was going on vacation next week. In the mean time, I sold one of my mortgages earning 13 perct interest so I would have enough money to pay the line. 2 weeks later the account officer got back and she did not know anything. Finally in mid-Sept when I paid the line balance down to about $7,000 (and was planning on paying it off by end of Sept) she said they would term the $7,000 out. Ha ha. Don't bother. And then a few days later (PRIOR to my line's expiration) they yanked the line availability .

I have another 20 or so years (I'm 51) of business activity. And I am going to do my best to make sure that everyone I do business with knows I find Wells Fargo one of the most disgusting corporations in the USA. The only one worst in my memory is MCI and they are no longer in business.

The non-renewal of my line of credit was handled very poorly and this company has permanently alienated me.
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Posted by DigitalCommando on 2009-09-20:
Take that wonderful credit score and excellent business record to a credit union where you will be welcomed with open arms and treated like the gold that you are. Don't bother switching to any other bank as they are all in 'screw the customer mode" at this time.
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Posted by Td1224 on 08/18/2009
HOUSTON, TEXAS -- Be very careful when you do business with Wells Fargo. A couple of months ago I contacted Wells Fargo to refinancing my auto in an effort to reduce my debt. I received an offer with a higher finance rate so I declined. Plus, the monthly payments were more than I was currently paying. Financially it wasn’t helpful in my efforts of reducing my debt. A couple of weeks after I turned down the auto refinance offer, I received an invitation from Wells Fargo to apply for a home refinance loan. So I applied just to see if it would be beneficial. About a week later, I received a letter in the mail from Wells Fargo declining me for a home refinance, no big deal. Then, about a month ago I was contacted by a Rep of Wells Fargo who asked me if I was still interested in refinancing my house. I explained that I’d already been declined. She told me the letter was a formality and it was “something Wells Fargo sends automatically”, and there were no problems with getting a home refinance loan. The Rep also inquired about the auto loan I applied for. I explained to her that I declined it because the rate was too high. I made an appointment to meet the Rep to discuss refinancing my house with cash out to pay off some creditors. I supplied all the required documents prior to the meeting. I met with the Rep on July 21st to sign the papers for the home refinance loan. During our meeting the Rep brought up refinancing my truck. I explained why I declined the auto loan. The Rep suggested that with the cash out from refinancing both my truck and house, I could pay off a majority of my creditors, thus saving money. I told the Rep that I didn’t want to refinance my auto. The rate was too high and it was not worth it. I was already 2 years into a 6 year loan and didn’t want to start over with another 6 year note at a higher rate. The Rep explained that with the cash out from refinancing my auto, I could pay off a creditors and it would help get a better rate on the home loan. The Rep again pointed out that with the cash out from refinancing both I could pay the majority of my creditors and with the money I’d be saving monthly, I could pay more towards my truck and still have it pd in 4 years. I made it clear that I DID NOT want to refinance my auto unless it was 100% SURE I was approved for the home loan. Otherwise, it made no sense to refinance my truck. Her exact words were “You’re approved. I’m working on the rate. The loan has been approved.” She ASSURED me the home refinance loan was approved so I refinanced my truck based on her assurance. I refinanced my truck that day. Plus, I signed all the papers for the refinance of my house, leaving 100% sure that I was approved for the home loan based on what I was told by the Rep. I took the check I’d gotten from the cash out on the auto refinance (about $1,500) and paid off a creditor as was planned. I didn’t hear anything for a week so I called to check the status of the loan. I was assured there were no problems. I asked her if she knew the finance rate on the home loan yet and she told me no but said she’d let me know when she knew. Another week passed with no word. I emailed the Rep to check the status and asked if there were any problems with the loan. Again I was told there were no problems. After a few more days, I checked again and was assured there were no problems. In fact, I was told I “should be hearing from the Appraiser any day”. Finally, on 8/10/09, I rcvd a call from the Rep telling me my home loan was turned down because the pre-appraisal came in lower than what they thought. I was very upset. I told the Rep that no one had come to appraise my home. I told her that she had assured me several times I WAS APPROVED, that’s why I refinanced by auto. Now she’s telling me I’ve been declined. I WAS MISLED & TRICKED INTO REFINANCING MY TRUCK. I refinanced my truck based on lies from the Rep of Wells Fargo. I NEVER would have refinanced my truck if I was not 100% sure I was approved for the home loan as I was told by the Rep. I can’t even cancel the loan since I’ve already taken the money I rcvd from the cash out to pay a creditor. Basically, I've traded a $1,500 creditor for a $30,000 auto loan. THANKS WELLS FARGO.
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Posted by Anonymous on 2013-08-09:
I dont think you were lied to, the approvals are always contingent on many factors.... income verification, residence verification, or in this case equity verification or an appraisal.
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Here Is What The Bail Out Did For Me. From Wells Fargo Bank
Posted by Tina- Here is what the bank bail out did for me. on 03/02/2009
DUNEDIN, FLORIDA -- Ok, I financed a car from Wells Fargo Bank 2 years ago. I had been working at my current job already a year. Well, 1/26/09 I was lay ed off from my job. I always have had very good credit. When I got lay ed off from my job with no chance of return. Like the rest of the 60 to 75 % of America is going through down sizing. And with not many jobs out there I new I had to do something. Plus on top of all of this I am a single mom trying to raise 2 teenagers. So I decided to let the Car go. I had received a severance package from my job upon being lay ed off. It wasn't much. But, it did buy me another car cash to drive around town in. I called up Wells Fargo Bank out of to tell them my story. They told me to first go to 3 car dealers first before handing over the car. They wouldn't give me one of their local bank locations to drop this car too. So I did as they said and I call them up and asked them ok.

Here are my appraisals from 3 different car dealers. Now what? The man at Wells Fargo Bank tells me to hold on the phone a minute. Then he comes back on the phone and tells me that the highest bidder was not enough. And that they Wells Fargo was not going to except it. Hey people were talking $10,000 dollars here. That isn't pocket change you know. So at this point I was very upset. And I told them you mean to tell me that you will not except this offer because its not enough towards what I owe on this loan. And the man from Wells Fargo said That s right. NO wonder Wells Fargo needed a bail out from the Government. They would rather come and pick up the car with no monies paid towards what I owe them Than except $ 10.000 dollars. I WANT TO KNOW WHERE MY BAIL OUT MONEY IS??? I told him I could not afford to keep this car and its full coverage insurance because of unemployment and other reasons.

And he was rude to me and suggested that I go out and find a job to pay for this car. I told him that car will sit with no insurance on it and I won't pay a dime. I told him I will call the attorneys Generals office and file a complaint against them. He laughed and said to me that won't help you this is a federal loan. And he also informed me that Wells Fargo has ways of making me pay for this car loan. He made it sound like Wells Fargo could sue me for this loan. I laughed at this point because I don't have anything that they could get. But, it left me wondering. I didn't know what he meant about a federal loan. Still no location to take this car. And as long as this car is in my hands I am responsible for full coverage insurance on it. God for bid something happen to this car in the mean time.

Also this situation has caused me a lot of mental pain and sleepless nights. If something happened to the car That would just prolong this problem. Mean while the car that I purchased with cash money must sit. Because of no License plate. Because I was going to transfer the license plate tag from the Wells Fargo Car to my Paid in full cash car. If only that would of been the case. If I could of transferred that tag to my other car with out any problems it would of only cost me $130.00 Dollars. But, because were I live I can't have a car without a license plate on it. I am forced to go buy a new plate for my paid for cash car at the price of $320.00 Dollars. I don't have the extra $ 320.00 dollars to do this. So I went and sold off some of what I have of my diamonds and gold jewelry to gather up this money.

Its not much. I'm not wealthy by no means. All because of Wells Fargo and the making me wait all this out. My boyfriend suggested I get Pre paid legal services. So I decided he was right. I need legal advice at this point. Prepaid had told me that they could send Wells Fargo A letter to find out a local location to where I could bring this car back to them. But, don't forget it takes 3 to 5 business day to mail to California. SO a letter there and a letter back from them. You are looking at at least 2 weeks maybe. So I'm looking to probably file for bankruptcy. I will know more tomorrow on this case.3/3/2009. When I see this attorney. Does anyone know if there might be a class action law suit against Wells Fargo??

Because if there is one, I want to sign up for it.
This situation has caused me a lot of mental anguish and has disrupted my family.

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Posted by feeling ripped on 2009-03-02:
Hey Tina, I feel your pain. My work truck was repossessed last month. The fees kept adding up till I couldn't even afford to buy it back even though I scratched up every penny I had. The auction is tomorrow. I can only hope to buy it back with the money I had offered them and at least get back to work. The banks are the ones who started this mess we are all in, received taxpayers help but won't return the courtesy of helping the ones they hurt. We lose our work because of them and now become deeper in debt. Just hang in there, and remember your not alone.
Posted by Slimjim on 2009-03-02:
Wait, you want to sue Wells Fargo because YOU can't pay back the loan? I can understand times are tough and am sympathetic you hit a skid, but if you take a step back and look at it for a minute, it's not a stretch why the guy laughed.
Posted by Tina- Here is what the bank bail out did for me. on 2009-03-02:
I wish you all the luck Man in getting your truck back. Im so glad that you sent a comment back to me. Im thinking about going to my local Congress mans office. This is bull Crap.
What is going on in this country?
Posted by Tina- Here is what the bank bail out did for me. on 2009-03-02:
No, not because I cant pay back the loan. But, they wont even take $10.000 dollars towards what is owed on this loan. They would rather take a complete lost and that my dear still cost us tax payers. I can see why Wells Fargo needed a bail out. Which in the end will cost you and me still.
Posted by Slimjim on 2009-03-02:
Again let me understand. You want to sue them, as well as, call Congress because they won't accept PART of what you contractually owe and borrowed from them?
Posted by msnanny on 2009-03-02:
If your understanding of your responsibility for this loan is anything like your understanding of the English language then I understand why you just don't get it. Servants package?????????????????
Posted by Tina- Here is what the bank bail out did for me. on 2009-03-02:
No, What I mean is take part of the loan the $10.000 and possibly accept partial payments. No, they didn't even want to work with me at all.
Posted by jktshff1 on 2009-03-02:
Ya owed the money, ya blew it. Ya live, ya learn, ya die and forget it all. There is not going to be a complete loss because it's going on your books as a debt. You are going to be posting here because NCO is calling and wanting to collect on an old debt.
Posted by bargod on 2009-03-02:
Why must people keep making a deal out of small typeing errors?
Posted by Anonymous on 2009-03-02:
Can't we look past the typo's and grammatical errors? We all know the OP meant severance package.

The issue here is that WF didn't want to consider or even discuss other options. I really feel for the OP...personally, I don't know about everyone else, but when I read what people are going through after losing their jobs, it's really making me stop and think twice about what I would do if I were to find myself in a similar situation.

And yes, I understand and agree that the bank rightfully wants and deserves their money...that's a given. It's the nature of the beast that bothers me, people are hurting and in trouble right now, and it's not looking too hopeful out there.
Posted by tnchuck100 on 2009-03-02:
Tina, The first thing I noted was the "federal loan" claim. I don't think financing your car with them has anything to do with the feds.

Next, if you cannot afford to pay for it you can do a voluntary repossession. You are effectively returning the car to them voluntarily. Yes, I hurts your credit big time. Wells Fargo will then auction the car off and obtain a judgment against you for the difference between what they get at auction and what you owe. That's the way it works.

Your situation is unfortunate enough as it is. Don't let Wells Fargo bully you further. Let them repo it and handle the details themselves.

Good luck.
Posted by Tina- Here is what the bank bail out did for me. on 2009-03-02:
Yes, Thats the problem. Thank you, justbcuz.
Posted by jktshff1 on 2009-03-02:
Wait a minute, I am not being abusive, disrespectful, or any of those other things, just being realistic, and NO I do not or have ever worked for a financial institution.
TINA...YOU did not live up to the agreed upon terms and conditions that YOU SIGNED upon receipt of the vehicle. Therefore, Wells Fargo is obligated to their stockholders to go after their money and collect. They are under no obligation to change those terms. Why are you wanting to "blame" WF for your problem? It's not their fault.
Go back and sue the company that laid you off and see how far it gets ya. Better yet, write a letter to that Hawaiian guy that was elected president and let him know how you feel. That and two bucks will get you a fairly decent cup of coffee.
Posted by Nohandle on 2009-03-02:
Tina, you took part of your severance package and purchased a vehicle you were able to pay cash for. Good for you. I am royally confused about the $10,000.00. Was this offered as payment in full for your obligation? From what you stated you financed the car and have made payments for two years, you were laid off 1-26-09 and knew you couldn't continue with the payments, insurance etc and contacted Wells Fargo. How much do you owe on the vehicle?

Chuck might very well have offered the best advice, although not an alternative many would like to choose. Voluntary Repossession. The difference in your post Tina is if you've paid for two years, I gather you felt you could afford vehicle when you purchased it. I'm sorry this happened to you but you really shouldn't blame Wells Fargo. Any company will do whatever they can to cover their bases.
Posted by Anonymous on 2009-03-02:
jkt, you are absolutely right, WF isn't obligated to change the terms of the agreement. I mean it's not like the banks can just start saying "pay us whenever you can, we'll wait" and at the same time, the consumer can't pay something that they no longer have the ability to pay. What to do? It's a mess and it's scary. Something is going to have to give, but what will it be?
Posted by expose2media on 2009-03-02:
I am well aware of my friend Tinas situation with her car.The media has always been the source of exposing big companies when they act unprofessionally and unfairly.Regardless of the outcome,it can be exposed and very well may be.Perhaps this company would like to appear and explain their lies on a news network?How about US congressmans office?It does work.I know from experience that it does.Ever hear of Kevin Trudeau?Yea,I thought so.He could be one of them among her group.They should consider that ANY one of their clients could be affiliated with certain various individuals who could wreck havoc through various media channels,thus exposing a story nationwide.Many in similar situations will take notice and we all know that word of mouth (media)can be the make or break of any companies trust with the general public.It only takes one media source to do it,and I assure you,she will have more than one.It could cost them alot more than it does her.Dont beleive it?Just watch and see.People tell their stories on here for a reason.Why not print ones emotionally charged story, and send it to the sources willing to expose it?Yea theyll screw her over,but it could cost them dearly to do so.Shes not trying to sue them or bring them down.Simply exposing their unprofessinal demeanor to a massive listening audience.Think about it before laughing.Is this not how stuff like this has always been exposed?To those who got treated very badly,would you not like to see what they did to you,fully exposed in mass media? Like they say,it isnt always what you know,but who you know.
Posted by Anonymous on 2009-03-02:
Well, it appears that there is a comment missing. Is that the admin's new tool in action?
Posted by jktshff1 on 2009-03-02:
Abiding by terms and conditions agreed upon by both parties is not acting unprofessionally or unfairly.
No, who in the heck is Kevin Trudeau and what does he have to do with the situation being discussed?
Posted by expose2media on 2009-03-02:
An employee yelling at her on the phone making degrading comments and outright lying to her is unprofessional.Telling and promising people that they will work with them and then doing the opposite could be considered wrong.Kevin is considered by many as the number one consumer advocate in the United States.His book-Debt cures they dont want you to know about has helped countless people.As he calls it-the interest and fines are nothing more than legalized card sharking.Of course,I agree that she is obligated to this debt and the terms of it,but communicative degradation on their part isnt exactly ethical.
Posted by BokiBean on 2009-03-02:
Kevin Trudeau is such a scam artist I can't believe that people still fall for his garbage.

From wikipedia (cause I'm too lazy to look up anything else):

Trudeau was convicted of fraud and larceny in the early 1990s. The Federal Trade Commission (FTC) has sued him repeatedly. A court order currently restricts his ability to promote and sell any product or service; however, he is permitted to promote books and other publications due to free-speech protection under the First Amendment as long as they are not used to promote or sell products or services and do not contain misrepresentations.[1][2] On November 19, 2007, a court found Trudeau in contempt of that court order for making deceptive claims about his book The Weight Loss Cure "They" Don't Want You to Know About.[3][4] In October 2008, he was fined more than $5 million and banned from infomercials for three years for continuing to make fraudulent claims pertaining to the book.[5]

Posted by DebtorBasher on 2009-03-03:
Sorry you're going through such a rough time in your life right now. But, there are no class action suits for a situation as yours. Best thing to do is to wait and see what options your attorney gives to you. Do you have a garage that you can park the car in and transfer those plates to the car you paid cash for? As long as the car is in your garage and off the street without plates, you should be good to go. If you don't have a garage, check with some family members and see if they can keep the car for you so you can transfer the plates. It's hard to get out and look for a job when you don't have transportation to do so. Good luck to you.
Posted by tina a on 2009-05-31:
I am in a difficult financial situation as well and want to take my car down for voluntary repossession through Wells Fargo. They refuse to tell me where I can drop it off. Anyone know how I can find this out? If not I'm thinking of asking my Attorney to call them and find out for me. What do you think? Please only respectful comments.
Posted by Anonymous on 2009-05-31:
Tina, maybe this web site has the answers you're looking for:

Posted by tellibee on 2009-06-02:
Tina they wont take your offer because you are asking them to hand over the title to your vehicle and create an unsecured debt. That would be stupid and they would lose even more money than the volluntary Repo. If you would have offered them the 10k and been able to get approved for a smaller unsecured loan there or someone else that is fine but you are unemployed so that cant happen and if you cant pay a smaller loan you cant pay smaller payments on a bigger loan. Does that make sense? People really do need to stop blaiming the banks for the economy. This America was built on debt so it is no wonder it is crumbling. People just need to pull themselves together and learn from this just like every company is learning. By the way Wells Fargo's "bail out" was forced on them and it was used to give people like you new loans. They were not in a bad place so before you place blame and judgment on one of the only good banks left maybe some of you should jump online and read up on the situations
Posted by Gabe on 2013-06-25:
Wells Fargo just repo my car while I am still making my regular payments on it. I never missed a payment. They said I owed them for insurance that I lapsed but I already paid that in full when they first repo my car. When I asked for their explanation, they said I my insurance lapsed and they did not explain what happened to the full payment I made several years earlier when they first towed my car. They did not want to hear me asking them questions, they think they are always correct, when I ask for the full accounting they said I have to listen to them. They are rude and they need someone to teach them customer service.
Posted by Gabe on 2013-06-25:
I do understand what Tina is talking about - they are not very helpful. I am lost my job and they don't dare that I've been paying my regular payments will all of what money I get while looking for a job, I need my car, they are not human at Wells Fargo. They still repo my car while I never missed a payment.
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Banks That Rip You Off and Smile About It...
Posted by KAyourDJ on 12/13/2008
WINDSOR, CALIFORNIA -- Wells Fargo Bank almost helped me lose my business. I have banked with them for more then (3) years. What I liked about them was their online banking website. This is one of their ploys to get you in the door. "BEWARE" They have a well created banking structure that is based on manipulating your banking activities to the highest form of banking profit towards their benefit. What happens is this; If you write a check to another bank or use your ATM, you will more then likely see the transaction the next day in their system. On the other hand, If you deposit a big check, say for $1500.00, they will hold your money for 5-10 days even if it's from the bank next door. So while you need your money for bills or payroll, they hold it and use it for a little while. I can go on and on with incidents on how they jerked me around, but all I will say is take a good inside look at their banking system, cause it is formed to charge you big for every small mistake you make. Such as; Say you use your ATM out of town at Starbucks and pay @1.50 for a drink, then say you purchase a sandwich at Subways and lastly you get gas the next day $60.00. Unfortunately, you failed to realize your account had an available balance of $59.00. Let's say the Starbucks and sandwich transactions reach your bank first then the gas comes in later. This is the trick! Wells Fargo will not agree, but I know for a fact, they will submit the higher transaction first to force your account into the negative, then charge you $35.00 for each additional transaction processed after that.

That's right!!! You will pay $35.00 for a $1.50 purchase. "Sorry that's the rules you idiot" don't make any more mistakes like that. After I had a few bad transactions due to they're online banking flaws, they put all my deposits on hold and made me wait for my money. I am going on a mission to tell all about my experience with them, I seriously, hate them for what hardships they caused me and my family.

That's right I did say "HATE"! Like I said one certain incident caused me to spiral into a tail spin and I won't forget it.
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Posted by woodsk1 on 2008-12-13:
ebery bank submits he highest transaction first, this is disclosed in terms of service. Second- If you have 59.00 in your account, only spend 59.00 or pay the price. On holding the check, next door or not, it depends on the check type.
Posted by Anonymous on 2008-12-14:
Don't be so modest. Your business almost failed because of you, not WF.
Reading your account terms and conditions would help since the banks funds availability policy and transaction policies are listed in there.
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Posted by Thetruth4u on 02/27/2008
Wells Fargo Payroll services normally very good does have a few drawback that I think you should be aware of. If you have the gall to move your services elsewhere they are anything but helpful and downright rude. In addition they will not forward what you have paid with them to your new service. So come tax time you just have to scroung up that info sans W-2 form. (yes I called their executive office)

Their customer service is great as long as you are a paying customer which leads me to believe they don't really care about anything but the money they are currently getting doesn't matter if you paid them a butt load of money ealier to do the job.
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Posted by sksred on 2008-02-27:
Thanks for the info with Wells, btw are you a employer and you had Wells Fargo do your payroll for your employees?
Posted by Suusan B. on 2008-02-27:
Sounds to me like you work for a company that formerly used Wells Fargo for payroll, changed vendors and are having difficulty receiving service now that you are no longer their customer.
Posted by madconsumer on 2008-02-27:
if ypu are the employeer, you are responsible for the w2's.

my payroll is out sourced, and i must still settle the year end w2's.
Posted by Nohandle on 2008-02-27:
In addition to the previous 3 member's questions I also would like some clarification. Are you the employer who contracted with a payroll service and when did you transfer your payroll to another service? If in fact you are the employer Madsonsumer is correct you, and not the service, are responsible for providing W2's to your employees and by 1-31-08 for the year ended 2007. What exactly happened here?
Posted by Kayla on 2013-02-21:
When outsourcing and transferring complete payroll liability, the outsourced payroll company provides the w2s. If you are settling your w2s, you should reconsider payroll companies as you are not receiving the full boat.
Posted by Barry on 2013-08-20:
I have been using WF payroll for several years and have always received excellent service. If I have any issues, (MY issues usually such as lost copies of quarterlies), they are always very good at helping me out. My only caveat is with the calling in of payroll. If you want to call instead of e-mailing, faxing, etc... I have had to wait more than 20-30 minutes for a representative. They used to have an option to input my phone number and they'd call back instead of me being on hold forever but that seems to no longer be an option. Bottom line, I receive good value, great service but for the long hold times when I call which is NOT every time.
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Unprofessional Teller And Useless Manager
Posted by Cathia on 02/23/2008
ALHAMBRA, CALIFORNIA -- I have experienced a very unpleasant visit to the Wellsfargo Valley Alhambra California branch, the one in a shopping center next to a Big 5 Store. Of all my years with other Wellsfargo branch and my family having multiple accounts at Wellsfargo. I just found out today that even if you have an account at the bank that you can only deposit money into the bank but cannot withdraw our cash check (even with valid ID) at this branch. The staff in this branch as compared to other is so rude, unprofessional, and unhelpful. They all including the non-responsive and Branch Manager [snip] who I have left 4 message in the day to contact him for an answer regarding my unpleasant experience at the bank and all I got is person telling me that he is busy to leave my number (which I have). I believe this manager just would not care much of the Wellsfargo Bank image and reputation rather staging in the bank and leading a group unprofessional and rude staff (whom I would felt takes after him after my experience today). Let the record know that the rude and helpless teller name is (Diana) working as teller this 2/23/08 morning at this branch.

As I have always see and believe the Wellsfargo Bank's image to be a friendly and heartwarming bank. But with this experience today. Unfortunately, as much as I don't want to drag the rest of the other branch to this, I will be bringing every one of my family to close out all account with Wellsfargo. With the humiliation I rec'd from Teller Diana and the non-responsible and not wanting to take the responsibility on hand Manager Kevin Lam. If this branch continues, I would assume in the very near future that the bank will close out and go into bankrupt.
Again, I reiterate that I don't want to apply this to the rest of the other branch as I have been and is still continuing getting a great and smiling staff at the other Alhambra branch at Chapel and Commonwealth.

I would suggest that Wellsfargo's upper management would be able to provide warning to the unprofessional staff mentioned above or let them go so that business goes on.
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Posted by madconsumer on 2008-02-23:
wellsfargo will not go bankrupt, they are to large. all you had to do is go to the atm and withdraw your cash. simple enough.
Posted by val02 on 2008-02-23:
Is it a rule that is posted in the bank? Everything would be in the terms of agreement they gave when you opened the account. Why not just go to the atm and take the money out? If it is a rule of the bank did you expect the teller to abandon the rule and give money to you? Thereby risking her employment.

As for the manager he is probably busy. It is after all a Saturday. One of the busiest days in bank.
Posted by Principissa on 2008-02-23:
You can check your balances and withdraw cash from an ATM. Is there a particular reason they gave for not allowing you to make a transaction? You don't go into those details in your post. Just stay away from that location and go to the ones that appreciate your business.
Posted by val02 on 2008-02-23:
Was it because the deposit needed to clear before you could take the money out? Not much detail as to why.
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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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Posting false negative credit to bureaus
Posted by Msbambi on 05/14/2002
PORTLAND, OREGON -- I sold my house and it closed escrow early February. Wells Fargo Bank was paid off but some incompetent employee posted the payoff to the wrong account. In March, I started getting notices that my loan was delinquent. I immediately called them and informed them that they had been paid off weeks earlier. They said they would "look into it". The following week I called back, they had done nothing trying to find payment. I called my escrow company and title company and finally got a copy of the check to show payment had been made. Approximately one week later after they acknowledged payment finally, they posted to 2 credit bureaus that I was 30 days down on my mortgage. I have written many letters to "supervisors", sent email, made countless phone calls and all I get from WFB is that they will correct the problem. I have two letters from them also apologizing and their word that they will remove derogatory credit. My credit was run again today as I am trying to close escrow on a new house and was I furious to see that WFB had indeed reported to the credit bureaus after all the letters and promises that my loan was paid but they did NOT remove the 30 day late. I look at this as defamation of character...they keep lying that they will remove the wrong information but so far have not. Now they get nasty on the phone and in email when I continue to complain. I threatened to sue them as now the negative reporting is affecting my interest rate, pts, etc on the new home loan. I would never do business again with them after the treatment I have received. They just say what you want them to say, then do nothing to correct their mistakes.
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Posted by Anonymous on 2002-05-15:
Simply dispute the late entry with the credit reporting bureau(s) that contain the negative info. They will in turn ask the bank and since they now have documentation and log history on what happened, they would (should) confirm the error.
Posted by Anonymous on 2002-06-14:
Just call the credit bureau. They will take care of it. It's easier than you think.
Posted by ladybug0330 on 2004-03-25:
Hello, I work for a mortgage company (not Wells Fargo) but I do know that a company like Wells Fargo can send a correction to your credit electronically within 48 hrs. After that it is up to each of the bureaus to update their records which can take 30 to 60 days. I advise to file a dispute directly with each bureau because this means they must contact Wells Fargo to see if their information is correct & if not change it within 30 days of your intial complaint with that credit bureau. In the meanwhile you can utilize a letter from Wells Fargo stating the correction was sent to remove that 30 day late, though not all compamies will accept this.
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Wells Fargo is a BIG FRAUD! Don't bank there!!!
Posted by Mauromason on 06/30/2010
Just Say No!!! to Wells Fargo
Just Say No!!! to Wells Fargo
I am so tired of dealing with this bank and although it is a hassle to move my personal and business banking I have had enough. This big fraud that calls itself a bank has ripped me off for the last time. Forget everything the nice, friendly, smiling and apparently concerned banker tells you when they are trying to get you to open an account, apply for a loan, credit card, mortgage or anything else they are pushing.

The bank is nothing more than a fee generating machine and they have geared all of the practices and policies to ways that will separate you from your money in as many different ways and as frequently as possible. I could give you a long list but here is one that is easy for everybody to understand:

I write a check to a supplier while doing business in another city, who banks with a different bank located several hundreds of miles away. Magically (with the wonders of electronic check verification) that check is debited against my account that very same night. No problem.

A week later I receive a check from a customer who banks just down the street from my bank. I deposit the check at an ATM in the morning, several hours BEFORE the afternoon cutoff for deposits. I write a few checks and incur a few more debit transactions the next day, counting on those funds being in my account. The checks/transactions were for approx the following amounts and order:


Guess what? They put a 5 day hold on the check from the local bank (a client from whom I had deposited dozens of checks in the past with zero problems). Then they debited the very largest item first ($745). It was my very last check I wrote to a department store at the end of the day and the very first one they debited which overdrew my account -$4.51, as they had put the hold on my deposit from the day before at the ATM. Then they debited the rest of the 14 checks/debits from my account, adding an overdraft fee of $35.00 for each item, totaling nearly $500 in overdraft fees.

When I went into the bank the next day to scream my displeasure I was told by the smiling, friendly and helpful banker that it is Wells Fargo's policy to ALWAYS debit the largest items first. The still smiling banker assured me this was to PROTECT ME as large dollar items could be a house or car payment and they know I would want to make sure those items were paid first, of course.

I thanked the smiling, friendly and helpful Wells Fargo banker for being so concerned about my car and home and I then proceeded to tell them that my car is PAID FOR and I DON'T HAVE A HOUSE PAYMENT! Furthermore, even if I did I would never want to be dinged $500 just to have those items covered. I asked to speak to the manager (also smiling and friendly) who that he empathized with me but that paying the largest item first was the policy. When I asked if they could waive the fees for a long standing business and personal account customer I was told that it was their policy not to, less everybody would come in asking the same thing.

So the next time one of the Wells Fargo smiling, helpful and friendly bankers ask you to open an account, run don't walk from their bank.

The really funny thing is we all just read in the news yesterday that Wells Fargo has been laundering money for the Mexican Drug Cartels. Really straight operation they run there. I wonder if they smile and act so helpful and friendly for the Narco's when they come in to transfer their drug money?

Wells Fargo is a criminal organization in my humble opinion and I will never do business with them again. Don't buy into their lie about how they want to "help you". The only thing they are interested in is helping you OUT OF YOUR MONEY!!!
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Posted by BEJ on 2010-06-30:
How large was the check you deposited? Perhaps they put a hold on it due to the amount of the check. Did the ATM slip mention the funds that were available? Counting on the deposit to make additional purchases as you did, I think I would have double checked that the deposit had cleared before writing checks and making other purchases against it. It is irresponsible to make purchases against a deposit when you have not checked to make sure the deposit has cleared.
Posted by Weedwhacked on 2010-06-30:
It would be nice if I overdrafted my account several times and had the fees waived because I was with the bank for a "long" time. It just doesn't work that way. Banks have disclaimers that allow them to put transactions through in any order they wish. They have people in the back rooms making sure that they are maximizing their fees. They aren't on your side, they want your money.

Unfortunately, you agreed to their terms of ordering the transactions when you opened your account with them.
Posted by steve101 on 2010-06-30:
Banking 101. Supplies needed: paper, pen, calculator
Step 1. Deposit check. Wait till deposit has cleared, not till you think it has cleared.
Step 2. You may now write checks and use debit card
Step 3. Record each check and debit. Apply each transaction immediately. Do not spend more than you have in your account.
There you have it. Three simple steps that stop you from ever incurring those nasty bank fees.
Posted by Nohandle on 2010-06-30:
I don't remember when this foolishness started. At one time a customer in good standing with a check from a known business, was an automatic deposit to the account. No questions asked, the funds were there and available. Then some banks elected, for their own profitable reasons, to put a hold on your deposit and decide for you what needed to clear and in the order they would clear for any checks presented. I've never had a problem with a deposit being held but many have and we've heard about it.
Posted by MaggieMcT on 2010-07-01:
Steve101 - may I make a small addition? Step 1/2: Read the terms of your account to find out the hold period on checks deposited.
Posted by MotleyCrueGuy on 2011-01-30:
You have to understand how checks are posted. Even if sent electronically, they still don't get processed until that night. That check you deposited that had a hold on it, may well have cleared the other institution that night, but Wells Fargo would have no way of knowing that. Banks do NOT get some magic notification that a check has cleared the other bank, they only get a notice when it DOESN'T clear or is bounced for NSF or fraud. That's why they put the hold on it. Otherwise they just have to assume it has and face consequences if/when it bounces. They don't "know" if the other bank clears it as fast as they do, and even if the MONEY is there for their check (your customers) doesn't mean it's not FRAUD, which is the BIG reason for long holds these days.

Nohandle, it's mainly due to an increase in bad checks, and fraud, especially the Nigerian scam type fraud. I work for a bank (not Wells), believe me, it IS a real threat.
Posted by GPL on 2012-12-20:
Wells Fargo is a legal shakedown organization.
They pend all deposits and immediately post all checks to maximize their overdraft charges.
They are legal crooks and are getting away with fleecing millions in overdraft fees from their customers they supposedly care about. Right. DO not do business with Wells Fargo.
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