Will Wells Fargo Freeze My Account ASAP?

[music12]

also, be careful with "funneling" funds. "funneling" often takes a few days to clear, and if they freeze your account they will also charge you for insufficient funds for the transfer! so just take out the money in cash, except for the rent which you should take out as a money order or certified check (whichever is cheaper...). your landlord won't care - if he asks just say you are switching banks (which you are!).

[thereshope]

It's very interesting that Wells is first to freeze your account with them (Thank goodness I didn't have any accounts with them). But last to acknowledge they received the bk notice.

[HGolightly]

OMG! You guys, I just had to post this... I was fretting and worrying about how I was going to get MY money out of my bank account before the news of my BK surfaced and they froze my funds. I was telling a friend about how I can only get $400 out of the ATM per day - and she said, "you know, you can go into the bank and withdraw as much money as you want." DUH! I never even thought about that!!!!!

Forest? Trees! LOL! Bankruptcy can be funny!

[music12]

yes, that's funny indeed. go in, ask for your money, and they'll ask you how you want it: cash? check? how would you like your cash? etc.... but, remember if it's a sizable amount it may be worth it to call the bank ahead of time and alert them that they need to have cash on hand for you; banks don't keep that much cash in the branch for security purposes. so if you come in and suddenly ask for, say, $10,000 in cash they might just not have it (in which case they would hopefully offer you a certified check without a fee...). also, check whether you account has a low balance fee, and if it does try to change it to a non-fee account somehow, or you'll be pretty upset at the $10-15 per month disappearing from your account...

[Jamescott]

I can't even believe how stupid I am.

I just filed on Monday, March 22. My filing was on Pacer as of March 23.

My Dad, who banks with Wachovia, sent me money to cover our rent - $1500. I didn't want to put the money into my US Bank Account. I'm going to cancel that account because I have an unsecured creditor who might try and take money on the 1st.

Thinking I was smart, I thought I would go to my Dad's bank and have them cash it. Well, there aren't any Wachovia Banks in Minnesota. I went into a Wells Fargo branch due to their merger and they wouldn't cash the check either. Systems aren't aligned yet. They said they I could open an account and the money would be available on Friday. I went ahead and opened a basic checking account. Then I came home and jumped on the forum and read all about Wells Fargo.

Obviously, I'm very concerned. However, the blog that has been posted states the money is frozen as of the date of filing. If my account wasn't opened until after the filing date, what are the bets they will freeze the money I just put in there?

Secondly, that money was given to me by my Dad for rent. What will the Trustee do if he/she finds out about this? I am going to get into trouble? It isn't like I'm hiding anything. The trustee can easily tell that my unemployment does not cover our rent and living expenses. My Dad is helping me out.

Anyone have insight they care to offer?

[music12]

they say wells fargo freezes accounts only if they are above $5000, which isn't the case with you. so i wouldn't worry but i would take the money out as soon as possible just so you can sleep...

[Jamescott]

they say wells fargo freezes accounts only if they are above $5000, which isn't the case with you. so i wouldn't worry but i would take the money out as soon as possible just so you can sleep...

Thanks for the post. I hope that is the case. The banker told me the funds would be available on Friday morning.

[HGolightly]

Wells Fargo didn't freeze my accounts. They even told me point blank that my BK had nothing to do with my bank accounts. The story might have been different had I a loan with them, or a credit card with cross-collateralization (?) - where they are related to the creditor somehow. Then, they probably might have frozen me.

[Jamescott]

Wells Fargo didn't freeze my accounts. They even told me point blank that my BK had nothing to do with my bank accounts. The story might have been different had I a loan with them, or a credit card with cross-collateralization (?) - where they are related to the creditor somehow. Then, they probably might have frozen me.

I appreciate you replying. I, like you, have zero credit account at Wells Fargo. Hopefully I will share your experience and there won't be any problems. My case is fairly basic so I'm hoping to keep it that way.

[ImmortalfWd]

Wells Fargo didn't freeze my accounts. They even told me point blank that my BK had nothing to do with my bank accounts. The story might have been different had I a loan with them, or a credit card with cross-collateralization (?) - where they are related to the creditor somehow. Then, they probably might have frozen me.

I'm going to be filing soon and was considering moving my money from WF to another bank. I will be way under $5000. Did you talk to regular customer service to confirm your account wouldn't be frozen, or someone else?