Wells Fargo & Company Complaint - They Generate Bounce Check Fees
IRVING, TEXAS -- They will push back charges and delay deposits to make charges bounce. When I confronted them with proof, I just got double talk, changing the subject, insults and was told I should close my account and go elsewhere. The following is what happened to me.
I am not the best at balancing my checkbook so I check my balance online every night. For the couple of months I have banked there, every single charge including checks would show up as pending, and then would finalize the next day (deposits are the same way). So I check my activity on the 8th, and 3 charges have came in as pending (with ample funds to cover them). Then on the 9th, a check shows up as having finalized on the 8th, and the 3 previous charges have bounced. Further, my direct deposit has shown up pending on Thursday and finalizes on Friday every week. This time, it doesn't show up on Thursday at all (but does show up pending on Friday morning meaning it will finalize on Saturday, a day late). Had I not caught this and done a direct deposit advance (which cost me 46$), that would have cost me another 12 bounced charges at 35$ each.
So I check with others at my work (this is an employee account), and I am the only one that got a direct deposit a day late. 2 people confirmed for sure that their deposit showed pending on Thursday.
So I go in and talk to the bank. The first guy I talked to said, yes we will push larger checks back as they are often more important checks like rent that people need to clear (which of course causes many more small charges that have already cleared to bounce, at 35$ each). He asked what I would have preferred, that they let the large one bounce? I told him yes. He went to talk to another employee. I walked over as I had not mentioned the direct deposit yet, and told him I had another issue as well.
This guy just changed the subject when I mentioned what the other guy had said, and he said that checks won't show in online banking till a day or two after they post (a complete lie). I tried to show him printouts that showed pending checks. I tried to show him a printout from the 8th that showed funds for the 3 charges but not the larger check, then another printout on the 9th with the large check being pushed back to the 8th. He basically ignored all the printed proof I had. He never looked at my proof close enough to read anything. He said several times, that I seemed to know more about online banking than they did so why was I talking to them. It seemed like any time I brought up an issue, he just made up something off the top of his heat to refute me (and he did contradict himself). He said that if my deposit showed on Friday (pending or not), then it was there and I should check the date on my pay stub (fyi I talked to someone on the phone the night before, and they said if it was not there pending on Thursday night, then it would not be final till Saturday). He said that the people at my work were wrong, and I was wrong and didn't know what I was talking about, even though I had printed proof. One of his last statements was that this was all my fault and I didn't know what I was talking about. I said I hadn't had problems like this for years with my previous bank, and suggested that perhaps I should close my account and go back there. He said that I should close my account.
Obviously they are playing with charges and deposits to try to maximize charges and fees. My balance hadn't been that close to zero before, but my wife had discontinued here direct deposit at our old bank and hadn't set it up with Wells Fargo yet, so getting a paper check delayed things a bit (she got paid that same Friday too). With both our pay on direct deposit, I don't think that issues like this would arise as sufficient funds would always be available. Its nice to know if my account does get low though, this is how they are going to take care of me.
I'll take his advice and close my accounts.