Wells Fargo & Company Complaint - Wells Faro Bank AKA "The Rip Off Artists!"
ATLANTA, GEORGIA -- Wells Fargo Bank a/k/a "The Rip Off Artists" are hard at work stealing our money. I am currently on hold waiting for Anika's supervisor to pick up, Dennis Easley to TRY and get information to file a formal complaint. Last week on Friday, May 6, 2011 I paid bills using my debit card. I pulled my account up on-line Friday evening and the transactions showed pending with the full dollar amount deducted from my balance. On yesterday, Monday, May 9, 2011 I deposited a check at the ATM at 5:54 p. m.. At that time my balance again reflected the deductions for the bills I paid the previous Friday. Today, Tuesday, May 10, 2011 I went on-line to check a transcation on the joint account I share with my husband and noticed the balance on my personal account was too high. After lookin through that account I discovered that my transactions from May 6th were gone and the money for the bills I paid last week was added back into my available balance. Now I know how much money I have in my accounts at any given time of the day so out of curiosity I immediately called Wells Fargo and was dumbfounded to learn that is is standard operating procedure for this bank to subtract the pending transactions from your balance when an approval is given then add the money back in as late as 4 days later!! Anika said they put the money back in your account until they receive the actual ticket from the merchant. she couldn't explain why. This ultimately makes it appear days after you have checked to make sure transactions have cleared your account that your available balance is higher than it actually is, thus causing countless customers to overdraw their accounts!!!!!
What kind of supposedly professional, upstanding banking institution utilizes this method as a standard business practice? In my opinion it appears to be a systemic method of creating an environment to cause customers to overdraw their accounts and allow the bank to charge overdraft fees. Fees a person would not neccesarily incur if this shady practice of "hide the true balance" were not in place at Wells Fargo Bank. I have had a laundry list of complaints since Wells Fargo took over Wachovia but this one tops the list!
Just a warning to all you Wells Fargo customers DON'T BELIEVE WHAT YOU SEE ON-LIE OR AT THE ATM-WELLS FARGO BANK PLAYS "HIDE THE TRUE BALANCE" WITH IT'S CUSTOMERS AND IS GETTIGN FILTHY RICH DOING IT!!!!!!!!!