Wells Fargo & Company Complaint - Bank Finds Loop Holes To Charge You
CHULA VISTA, CALIFORNIA -- I purchased a car in Chula Vista Ca and was given a car loan through Wells Fargo. The banker recommended that I sign up for automatic payment through my checking acct. For the first year I just paid it in person since I worked next to the bank, but eventually they wore me down. Then I began getting all kinds of fees drawn on my acct. It turns out that they somehow forgot I had Insurance on my car and were charging me for their insurance on top of the car payment each month, but never bothered to tell me when I would walk in and deposit money. When I saw my statement I called in and was able to resolve it (over my family vacation), but it took weeks. Not to mention the fact that I had to get all of that off my credit report, and who knows what unknown damage it may have caused.
Then the next problem occurred. It turns out that they chose to move my automatic $25 transfer to savings (needed for free account but supposedly not done if there is no $ in checking) to the same day as my car payment. So I would transfer about $24 more than my car payment over to checking on that day to cover the car payment. The bank would then transfer $25 to savings and charge an overdraft fee for the car payment since they had to re-transfer the funds from savings. No way to get the money back that time, but I got smart and started transferring enough for both things The $25 transfer has never been on the same day again.
Smells funny to me. I picture the bank execs in a back room thinking of ways to get one over on their customers. Once that car is paid off I'm out of there.