Wells Fargo & Company Complaint - Wells Fargo is a BIG FRAUD! Don't bank there!!!
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!!!
Just Say No!!! to Wells Fargo