Wells Fargo Overdraft Fees!!!

[CowboyMcCoy]

So I moved a large sum of money to Wells Fargo a while back and I don't spend much money because I'm frugal like that. Well, I was told by the banker that she was setting up my account with no overdraft fees. And if my money were taken from checking, and if checking was empty, I would not have any fees because it would be set up so funds would go from savings to checking--and with no fees.

That's not the case. I just looked at my bank account. I have over $400 in overdraft fees at 12.50 a pop. They added up. I called the manager and told her what the banker had told me. She said she'll look into it and call me back on Monday.

Does anyone have any experience with this? I'm so irked I'm feeling postal.

 

[Go Big D!]

Consider yourself lucky. My bank charges $29.00 per overdraft.

From what my mom says Wells Fargo is customer oriented so I would think they'd work with you for a mistake on their side.

Don't go postal just yet.

 

[JustDezIt]

So I moved a large sum of money to Wells Fargo a while back and I don't spend much money because I'm frugal like that. Well, I was told by the banker that she was setting up my account with no overdraft fees. And if my money were taken from checking, and if checking was empty, I would not have any fees because it would be set up so funds would go from savings to checking--and with no fees.

That's not the case. I just looked at my bank account. I have over $400 in overdraft fees at 12.50 a pop. They added up. I called the manager and told her what the banker had told me. She said she'll look into it and call me back on Monday.

Does anyone have any experience with this? I'm so irked I'm feeling postal.

they should refund it if it was done in error. the question is whether or not that they will admit it was their error. but usually when you are in good standing with them and appeal the fees they will waive them. Don't go postal just yet.

 

[JustDezIt]

Consider yourself lucky. My bank charges $29.99 per overdraft.

From what my mom says Wells Fargo is customer oriented so I would think they'd work with you for a mistake on their side.

Don't go postal just yet.

You know what they say about great minds....

 

[rkell87]

12.5???? your lucky i've never had one less than 23.

 

[CowboyMcCoy]

Consider yourself lucky. My bank charges $29.00 per overdraft.

From what my mom says Wells Fargo is customer oriented so I would think they'd work with you for a mistake on their side.

Don't go postal just yet.

Sweet, I hope the lady follows through with what she said. I understand the idea of overdraft fees. But that's not what I was told. Plus, I'm not that stupid to keep paying 12.50 a day for overdraft fees. I have a hard enough time agreeing to the 2.00 fees when I pulse money from a non-wells fargo ATM.

But come Monday, if this isn't resolved, some vulgar, verbal postage may be on the way.

 

[Dallas]

Who writes checks knowing his/her checking account is empty?

You should move some of your LARGE SUM OF MONEY back into your checking account so you aren't writing checks that bounce.


:laugh2:

 

[CowboyMcCoy]

Who writes checks knowing his/her checking account is empty?

You should move some of your LARGE SUM OF MONEY back into your checking account so you aren't writing checks that bounce.


:laugh2:

Once again Dallas fails to read.... I wrote that the banker told me there would be no overdraft fees, and that checking would be pulled from my saving acct. Again, repeated for you so you can perhaps grasp what I'm saying, she said there were no overdraft fees when the money was transferred from checking to savings.

Maybe try hooked on phonics?

 

[Dallas]

Once again Dallas fails to read.... I wrote that the banker told me there would be no overdraft fees, and that checking would be pulled from my saving acct. Again, repeated for you so you can perhaps grasp what I'm saying, she said there were no overdraft fees when the money was transferred from checking to savings.

Maybe try hooked on phonics?

Oh I read just fine. I still find it hilarious someone continues writing checks on an empty checking account, regardless if they feel protected by not being charged NSF fees. You never have any deposits in your checking account? No DD at all? Hrmmm

tsk tsk...

You should have to go to jail for that..

Writing bad checks aint no joke..

 

[CowboyMcCoy]

Oh I read just fine. I still find it hilarious someone continues writing checks on an empty checking account, regardless if they feel protected by not being charged NSF fees. You never have any deposits in your checking account? No DD at all? Hrmmm

tsk tsk...

You should have to go to jail for that..

Writing bad checks aint no joke..

Again, you failed to understand the issue at hand. I was not writing checks on an empty account...you saying that, once again, shows you don't know what you're talking about.

Again, I was charged overdraft fees and no bad checks were written since everything was paid for.

Intellect isn't your thing, bro. But you're good at trolling. The only person who rivals you is Zrin.

 

[Dallas]

Again, you failed to understand the issue at hand. I was not writing checks on an empty account...you saying that, once again, shows you don't know what you're talking about.

Again, I was charged overdraft fees and no bad checks were written since everything was paid for.

Intellect isn't your thing, bro. But you're good at trolling. The only person who rivals you is Zrin.

Yeah, that Zrin guy can be a ginormous distraction.

Im going to go over here and chill and be non-intelligent.

But due give your checking account some love. Fix that stuff. Don't be a writer of bad checks.

Wrong road there bro...wrong road.

 

[Tusan_Homichi]

Yeah, I don't get Wells Fargo either on this. I'm sure they aren't alone, but still. My wife and I have a savings account and a checking account through them. I set up the savings account to be the overdraft protection for my checking account. So, what happens when it's actually put to use? I get charged $12.50 per transaction to spend my OWN money.

The hell?

 

[CowboyStar88]

I worked for Wells Fargo and Chase Bank i am sure the manager will fix this. However I would say that's cheap overdraft fees and nfs fees are 34.00 bucks each in CA. Other then that I will keep my mouth shut on how you are using your account because its not being used right. When the accounts are tied and there is no money or not enough money in the account it will transfer and charge you 10 to 12 bucks. People complain about the banks and fees but it is a business for profit. They don't do it for free.

 

[Wimbo]

With all due respect, I don't think you understand the whole 'overdraft protection' thing. Writing bad checks has both civil and criminal penalties tied to it which vary by state - in Texas it is up to 2 years in jail & up to $1000, plus the holder of the bad check is allowed to charge you processing fees. Overdraft Protection will move money between your accounts to prevent you from being penalized by law & getting your returned checks taped to the register of your favorite places. Setting up the vehicle to do this is a service provided by all banks. There is always a charge, though. The banker could have said something like, "there will be no overdraft penalties" & you processed it as "no fees".

Either way, you should try being polite & respectful rather than using "verbal, vulgar" language. It will get you much more consideration & maybe forgiveness.



From their website:
What is the fee for using Overdraft Protection?

When there are insufficient funds in your account to cover a check, withdrawal, or automatic payment that you have authorized, and you have Overdraft Protection, we pay the Item and charge you an overdraft protection transfer/advance fee.

The overdraft protection transfer/advance fee depends on which account you have linked to your Checking Account for Overdraft Protection:

• Savings accounts. A daily fee of $12.50 applies for all overdrafts that occur in a single day.
• Credit Card. One overdraft protection advance fee will be assessed each day your credit card provides Overdraft Protection, regardless of the number of items that post to the account. The fee is dependent on the total amount of the advance.
  
  On or after July 1, 2011: Fees for overdraft protection advances are:
  $12.50 if the total of overdraft protection advances for the day is $50 or less;
  $20 if the total of overdraft protection advances for the day is greater than $50.
  
  We will transfer the exact dollar amount to cover the overdraft, subject to a minimum Overdraft Protection advance amount of $25.00. If the amount of available credit on your Card is less than $25.00, we will transfer the amount of the available credit.
  
  Please note: If you report your credit card lost or stolen, your Overdraft Protection feature may be temporarily unavailable on your card for up to 72 hours while we set up your new account number.
• Line of Credit. Please see your Credit Agreement for the fee and finance charges for advances.

https://www.wellsfargo.com/help/faqs/odp_faqs

 

[67CowboysFan]

Again, you failed to understand the issue at hand. I was not writing checks on an empty account...you saying that, once again, shows you don't know what you're talking about.

Again, I was charged overdraft fees and no bad checks were written since everything was paid for.

Intellect isn't your thing, bro. But you're good at trolling. The only person who rivals you is Zrin.

And looking into the future, it seems Dallas nailed it and understood perfectly what was going on.
http://cowboyszone.com/forums/showpost.php?p=4193934&postcount=14

 

[CowboyMcCoy]

And looking into the future, it seems Dallas nailed it and understood perfectly what was going on.
http://cowboyszone.com/forums/showpost.php?p=4193934&postcount=14

You're not getting what I'm saying. I'm talking about the language the banker used to tell me there was no overdraft fee when the money was transferred. In other words, she said she claimed to have set my account up in a special way, so that no overdraft fees would occur, as the other poster said, when I spent my own money.

Save the lame references and pay attention to what I was actually saying.

I wasn't saying they couldn't do this. I told you they told me they did have accounts that they could set up and account with no fees, when that's not the case.

I blame this on the specific, personal banker who lied about the overdraft account.

So carry on with nailing Dallas' stuff.

 

[DIAF]

If you complain enough, you can get overdraft fees overturned. My sister once got hit by 7 or so overdrafts at once because Bank of America held a deposit for a day or two longer than expected. She found on the internet that many people had success by directly emailing the office of the CEO, so she did. The next day someone called her and took care of the fees.

 

[CowboyMcCoy]

If you complain enough, you can get overdraft fees overturned. My sister once got hit by 7 or so overdrafts at once because Bank of America held a deposit for a day or two longer than expected. She found on the internet that many people had success by directly emailing the office of the CEO, so she did. The next day someone called her and took care of the fees.

These sort of responses make more sense.

 

[junk]

Even if there weren't overdraft fees, why wouldn't you be watching the balance of your checking account and be moving money over yourself?

I'd imagine if it is the same bank, it's all online anyway. By the time you took the time to post here, you could have checked your balance and moved money over.

At 12.50 a pop, over $400 in fees would mean that you made at least 32 transactions when your checking account was empty.

Personally, it just seems like basic money management to watch the balance of your checking account. Why would you count on a bank to pull it over? And, even if they told you that there was no fee, wouldn't you check after the first one to confirm?

 

[Wimbo]

At 12.50 a pop, over $400 in fees would mean that you made at least 32 transactions when your checking account was empty.

It's not per pop, it's per DAY. He must have had 32 days of zero balance in his checking account & tried to charge to it every day.

You are right, though. Money management 101.

I'm sorry for what happened to you CowboyMcCoy, but this is a basic banking practice. Hopefully, the bank will chalk it up to being an employee mistake & clear the charges for you.