Oh man... OVERDRAFT FEE!!!!

[USAF385]

I got one.

Let me set it up for you:

Wells Fargo bought out Wachovia a while back, and a few months ago both my savings and checking switched over to Wells Fargo. It turns out that I hate Wells Fargo.

They ditched most of the Wachovia employees and replaced them with inexperienced, by-the-book types who demand 17 forms of ID, a retina scan, and a rectal exam anytime you go up to the counter. They also transformed the low-key lobby into a gaudy, advertisement laced, Wells Fargo Wonderland.

What really pushed me over the edge was the $4 a month fee that appeared on my savings account. The savings account which I have had for 27 years and never had a fee. My parents opened the account at whatever the bank was when I was born, and the account has transferred to all the banks that took over the location... First Union, Wachovia, now Wells Fargo. Without going into detail, I'll just say that the savings account has more than enough funds and is not under a minimum balance requirement.

I checked all the account info and couldn't see what the fee was for. I called customer service and they couldn't tell me what it was for, apologized, and removed the fee. Oh.. but the fee kept coming. So... I went in and talked to one of the fancy bankers who hides in the office as to not deal with the everyday customers. He apologized and took care of the fee. Only... he didn't.

Tired of dealing with the incompetence of this bank, I cut all ties to Wells Fargo in regards to automatic bill payments or anything of the sort. I took most of the savings balance and all but $100 of the checking balance and moved it to a savings account I have with another bank, and opened a new account at a third bank. I watched the balances for two months making sure everything was square. It was.

So last week, March 9th, I went in to WF and closed both accounts. Today I got "notice of insufficient funds" and saw that the account they were citing was the checking. What the heck?!

I tried to log on to the account online but couldn't since the accounts were closed. I called the customer service number and asked what was going on.

Some IDIOT used my checking account debit card for $50 worth of gas on March 7th, two days before I closed the account, and it didn't post until the same day I closed the account... rather just after I closed the account. That idiot was me of course. I had a brain fart and used the wrong card.

So.... I got the $100 from my checking account, then the $50 transaction tried to come through and couldn't... hence the overdraft fee.

The fee is $35. So.............. I guess I'll go pay that tomorrow.

 

[A10]

Credit unions....the only way to fly!

 

[USAF385]

Maybe some day. I have nothing against them. Right now I'm happy with both of my current banks.. as long as Wells Fargo doesn't buy them out.

 

[m1gunner]

USAA has full banking service. You qualify, and they really WANT your business.

Ex- watchovia/wels fartco customer.

 

[CAJUNLAWYER]

Lessons learned hard are lessons learned best. If you are nor with a credit union or a LOCAL bank you should be. I've had this rant before but trust me on this one.
Also a bit of gratuitious advice-before you finance a house do some research into bundling and securitizing home mortgages to see what you are getting into. Used to be the bank that lent you the money serviced the loan-not anymore. It is bundled and sold and the purchaser uses loan servicing companies to actually do the collecting and processing of your payments. They can, will and do sneak in all kinds of extra fees for just about everything that are not provided for in the original mortgage. Most people pay them without a second thought and they add up to billions. Nobody is going to watch ofer your money except you.
Rant against THE MAN is now off!

 

[Armyphotog]

I had early careers in finance and banking. I don't overdraft, or anything else that causes penalities.

 

[DeathGrip]

Oops,

 

[Fredo Batali]

+1 on credit unions. The only way to bank

De Oppresso Liber

 

[colt3374]

Credit unions....the only way to fly!

AMEN to that!!

 

[CigarGuy]

Those brain farts can be expensive, sadly.
I had an "issue" with Wells Fargo's credit card years back that I couldn't do anything about and vowed NEVER to use them again.

 

[doublesharp]

I would never own a debit card. I use a credit card and pay it off in full every month.

 

[perrazi]

itisn't only the big banks that are doing this. my local bank,which is still local,started charging me the $4.00 charge on my savings acct. in january. i have had this account since i was 14 and now almost social security age. they removed it and kept charging it. i finally closed it 3 wks. ago.

 

[Raider]

Chase is bad about sneaking in fees. I'll never do business with them again.

Charlie

 

[truckemup97]

Chase is bad about sneaking in fees. I'll never do business with them again.

Charlie

I chased Chase out of my life several years ago. I made a large, unexpected, and very necessary purchase that put me very close to my credit limit, intending to pay it off over several months. They promptly lowered my credit limit and charged an over-limit fee. I paid it off in about six months and they haven't seen a dime from me since.

 

[ringo1597]

Been with the same credit union for over 25 years. When it was a small one building employee institution, no problems. Now with many locations and open to just about anyone, problems.
Recently I agreed to purchase a collection of older Smith's, with the agreement payable in cash. Went to the CU to make a cash withdraw of my own money, only to be told sorry we cannot do that, you must order your money. I ask how much I could withdraw and was told a very small amount. So I place an order for my own money, must wait 3 days. I show up at the date and I time was told to be there, only to be told, sorry we can only give you one thousand dollars. Place another order for my own money, wait 3 more days, sorry the order was not placed, we can only give you another thousand dollars of your own money.
Now I go there every other day if not every day and ask how much of my own money will you allow me to withdraw. This will continue until my balances reach zero.

 

[RonJ]

May I humbly suggest US Bank. Never had a problem with them.

 

[jkc]

Wells Fargo similarly subsumed my smaller regional bank. At the same time its website woos my increasing participation in its various financial services, it warns me of usurious fees and overdraft penalties and etc. --- it's like having a schizophrenic concubine...

Unfortunately, my credit union is evidently, no, manifestly staffed by innumerate and illiterate zombies who so routinely screw up my accounts that I have come to completely mistrust them. They routinely misapply payments and route them to the wrong accounts. I've learned to write separate checks for every individual loan payment or deposit, rather than combining the payments on one check, with the deposit and payment coupons attached, as the nitwits employed by this institution apparently ought to be institutionalized, and are incapable of apportioning one lump sump into individual credits. Customer service and customer care in financial institutions seems to have regressed from helpful to hostile.

 

[26Ford]

I still keep my money in the mattress, not the best interest rates, but there's never a fee.

 

[Packard]

I had a similar problem with Wells Fargo. They failed to post a bill for my Visa card and then hit me with a $35.00 late fee plus $9.00 in interest.

I pay my bills on-line using the Wells Fargo bill pay. The Wells Fargo invoices come to that site.

I pay my bills on the 1st and the 15th of each month.

So I checked on the 15th I check for open bills, and there are none.

On the first I check and they had hit me with a late fee and interest.

I drove down to my bank and raised havoc and they called and had the fees and interest reversed.

I told them if they are late this month posting the invoices I was going to charge them a $35.00 late fee. They will pay or I will draw all my money out of the bank (It's over $100,000.00 so it will be interesting to see what they do.)

 

[wbraswell]

Likeswise, around here, Wells Fargo, consumed a local bank. I had a couple of CDs there, and small account and safety deposit box, because they were the only bank that was open every day except Christmas. I have no tolerance with banks that don't try to appease their customers. When the CDs matured, I went down and asked them what their rates were currently. The woman quoted me one rate. One rate for all CDs, no matter how big or how long. I told her to give me the money. I went across the street, to a local credit union that is my primary bank for the last 40 years, and got twice the interest. Nothing good to say about Wells Far-out-go. Don't even get me started about the baboons at Capital One.