Wells Fargo has Shady Billing Practices

Well you example tells me your at fault. If you know you have a bill
pay for 110.00 and you have 100.00 in your account and your 10 charges
of 9.00. I'm no math wizard but I do know that I am going to be short
already before the 110.00 charge gets there.

My fiance has had trouble with Wells Fargo as well. Not with checking
or savings accounts, but with how his mortgage refinance was handled,
or rather, not handled at all. Customer service at WF leaves a lot to
be desired. My bank (a different one altogether) used to have
real-time updates on accounts, but now they take at least a day to
show. Some of my debit purchases can take up to a week to show online.
THAT I don't understand.
Other than those comments, it might be worth it to look into a bank
that offers overdraft protection, even if there is a fee for it.
Sounds like it may be well worth it, a small price to pay for the
security in knowing you won't be overdrafted?

This happened to me once and it was an absolute nightmare--I ended up
paying about $400 in overdraft fees for a bunch of little charges. I
finally solved it so it never happened again...by not spending more
than I had in my account. Ever since I adopted that practice the
problem went away on it's own.

If you've had 23 overdrafts since December 2007, this might be a good
time to rethink how you handle your finances because that is
excessive.

Most banks process transactions that way. Why? Because it does
generate more fees for them. However it is legal (in most states) and
does by most banks so if you continue to handle your finances this way
it will continue to happen.

Sure, they charge $35 or so for overdraft also, but they do not follow
in the practice of arranging highest debits first, nor do they do the
infamous debit before credit crap.

I certainly appreciate them.

The practice of posting debits before credits and in the manner you
described is actually quite common. I don't agree with the practice,
and in some states it is illegal, but this bank policy just means the
customer needs to be even more vigilant in ensuring they have enough
money to cover all debits.

If you're going to move your accounts somewhere else, you should know
that Wells Fargo isn't the only bank that has this policy, most, in
fact, do. Make sure to read your Terms and Conditions; that'll let you
know if your next bank engages in the practice.

One other thing you should know is that some banks won't let you close
your account if you've had excessive overdrafts in the past year, so
you'll want to check that out too before you close out.

What you describe is a very very common bank process. I hate to say
this, because I work for a bank (im currently researching on how I can
get my soul back... i saved my receipt, satan!) Banks are out to make
money. They couldn't care LESS about the problems of the everyday
paycheck-to-paycheck souls like us. I see it every day, a college kid
comes in, asks for a few of the OD charges to get reversed because he
made an honest error in his budgeting, and he is told NO - And, if you
don't somehow FIND the money, put it in your account, we will send it
to collections and ruin your credit - furthering you money issues.
Yet, the big rich guy, who has a few accounts with a ton of money in
it, accidentally overdrafts his secret account that his wife doesn't
know about so he can party and buy his mistress gifts behind her back.
Guess who gets a refund, since he is "such a good customer?" Mr rich
guy, who can more then afford to pay a few fee's of 36 dollars, but
wont, out of principle.

I need a new line of work :-(

If you got enough money in your account, it shouldn't matter which
order they come in. It sounds like you are spending more money than
what you have in your account, which is not the fault of the bank. If
you are keeping a checking register properly and enough money in your
account, you shouldn't be having trouble.

You are going to have a hard time at any banking institution, bank or
credit union, if you keep this up. They are all the same. They
always do things from the biggest to the lowest to maximize charges.
Usually the bigger charges are car and house/mortgage/rent payments.

Unfortunately, debits received on the same business day are processed
from the highest value on downward. I wonder also if you are making a
deposit and then spending against it, before the deposit has posted to
your account?

If the rep told you it would be a good idea to close your account, it
typically means you are a problem customer and the bank feels that it
is better to no longer have your business than to sit and argue and
plead with you to be more responsible with your bank account.

Let me also say, "no" does not necessarily equal rude.

As the other posters have already mentioned, the majority of banks
process debits in this manner.

You're right: if two former Wells Fargo employees have decided that
other banks are better (and not just that after working at a bank
they're planning on burying their money in jars in their back yards),
that's not a good sign. (But: are these people actually your
employees, or just your supervisees? Because the problems you're
indicating here are a lot more serious if you're actually running a
business than if it's just your personal finances in question.)

But what you're describing isn't just how Wells Fargo works, it's how
all banks work.

If you've had 23 overdraft charges in less than 2 months and that's
not okay with you, then you need to start doing something different,
especially since you apparently have enough money to pay off your car
loan but it isn't in the account from which you're paying bills.
Changing your bank will not, all by itself, solve the problem because
the same rules will still apply.

I am sure that Wells Fargo knows that there is such a thing as a bank
error. The thing is that nothing in your letter suggests that they've
actually made one in your case. The errors being made here are on
your end, and they seem to be based on your willingness to incur
overdraft fees and your misunderstanding of how overdraft fees
actually work, resulting in your getting hit with a lot more of them
than you are planning for.

And while I don't condone rudeness, if you argued with me for 15
minutes because you didn't understand the terms of your relationship
with my employer and then told me that you were going to terminate
that relationship, I might say, "Okay great, that sounds like a
fantastic idea" too. I wouldn't be proud of myself later and I would
probably know at the time I was saying it that it wasn't going to be
something I would be proud of later on, but I still might say it. It
sounds as if you are as frustrating as you are frustrated, and you
sound plenty frustrated.

I don't know how to phrase this politely, so let me just say "Banking
isn't for everyone"


It's time to learn to be fiscally responsible and to take charge of
your own actions. This is how all banks work, and if you feel it's
o.k. to work hard for your money, only to turn around and blow it away
in fees, that's your right and perogative.

As far as ultimatums and threats go, they never work. No matter how
many "Heather's Hoodlums" you recruit, Wells Fargo isn't going to
change




"I will continue..... until I feel either vindicated or compensated. "



well, that speaks volumes and deserves no comment.

It is the same at all the banks. You have a few choices. Keep enough
money in your account so that you don't become overdrawn, continue to
be the bank's best and worst customer (angry complaints
intermittently, offset by lucrative fees for the bank), or maybe go
and join a credit union. I believe they don't play the overdraft
situation the same way.

Good luck wherever you end up.