Burn in heck, Wells Fargo!

[FakeName]

I hate WF. On the advice of many here, I moved my money to another bank prior to filing. I left about $75 in the account. So yesterday, my "auto-pay" paid my car payment of $370 out of that account.

WTF?!?!?

Does no one in WF's systems engineering department know how to write logic that says IF amount to pay > amount in account THEN DON'T FREAKIN' PAY?!?

Sure, sure - it's my fault for forgetting to "turn off" the auto-pay, but still!

They pay the $370, I now have a negative balance of $295 PLUS the $30 they charged me for the privilege of bending over and letting them take advantage of me.

I'm sure I agreed to this kind of treatment at some point, but this just SUCKS.

On a positive note, August's car payment is paid a month early since I'd already paid them out of my new account.

Thanks for letting me vent.

[kenshirley]

Make sure you find out that the extra payment went to next month's payment.
Not all companies will automatcily do this for you.

[FakeName]

True. No point in getting screwed twice...

[Trixie007]

Well, if you're filing soon and keeping the car, they really did you a favor!

[RainMoM]

I have to agree with you on this one, I hate Wells fargo too !! I can't shout loud enough to anyone.. stay away !!!

[justbroke]

Many banks allow accounts to overdraw because of how the Automated Clearing House (ACH) check payments work. It's cheaper for them in most cases to let a check go through than to manually remove the check from the batch(es) of checks they process overnight. Plus, they get to make money on the overdraw fees.

My bank paid a $1,000 check on my already overdrawn account, to a pre-petition creditor who forced me to post-date checks to them. This occurred post-petition and after I told the creditor not to.

I was like... what?

[FakeName]

Many banks allow accounts to overdraw because of how the Automated Clearing House (ACH) check payments work. It's cheaper for them in most cases to let a check go through than to manually remove the check from the batch(es) of checks they process overnight. Plus, they get to make money on the overdraw fees.

My bank paid a $1,000 check on my already overdrawn account, to a pre-petition creditor who forced me to post-date checks to them. This occurred post-petition and after I told the creditor not to.

I was like... what?

Oh, I totally believe that at some point, somewhere I consented to this practice. It's just infuriating.

Now they're sending me ISF notices via email. I've set up the transfer from ING already to cover the deficit, but COME ON, Wells Fargo -- YOU'RE the ones who overdrew my account!

[FakeName]

Well, if you're filing soon and keeping the car, they really did you a favor!

Took me a minute to figure out what you meant, but that is FUNNY.

That was my first thought, though... "Screw you! I'm filing Monday - that's $295 you'll never see again!!"



Unfortunately, I don't think my new $295 debt to WF is included in my petition which will be filed Monday or Tuesday so I figure I'd better make good on it. Not to mention that my otherwise debt-free wife's name is on the account and I don't want to bring her down with my sinking ship...

[Houseofcards]

Same kinda thing happened to me

With our Well's Fargo account. I couldn't believe the events that led to the issue. We had our business and a personal account there - we also have a Visa card and Visa business card there.

Our ADT bill was auto debit from our Visa Business.

We got the info through this forum - change your bank accounts before you file - and we did that in March.

I changed the ADT account to draft from the new business account via debit - worked great first month.

We were in the midst of letting a few checks clear and hadn't gotten to the bank yet to cloase the old accounts at WF.

We haven't been paying the credit cards per attorneys advice (fully retained but not yet filed).

The second month ADT did a mistake and hit the WF business Visa (instead of the new card) - which WF had closed - which caused the Business checking account to go negative to cover the payment - and caused $39 overdraft in addition.

I call ADT - they said sorry - mistake on their part and they will "reverse" the charges. They also said they would "cover" the OD charge as well.

I asked them (ADT) to please make the payment that day from the proper account so that it wouldn't be late - which they did.

I guess I shoulda asked them to send me a check for the money but I didn't.

2 days later they drafted the "new" account a second time for the monthly service fee.

If you follow me to this point - they technically owe me 2 months of service fee and a $39 OD fee reimbursement.

ADT reversed all the charges back to the business credit card - the one the WF closed - but ofcourse WF was happy to take the money. I hate WF as well

Essentially they covered the bill by using the checking account for the funds - which had $5 in it - and that caused it to go negative.

[lrprn]

Essentially they covered the bill by using the checking account for the funds - which had $5 in it - and that caused it to go negative.

Wells Fargo and ADT obviously are going to continue this 'bait and switch' and you will continue to come out on the losing end. Stop this in its tracks by removing your permission for WF or ADT to auto-draft ANY of your accounts. Do it in writing and cc: your lawyer. Send the letter registered return receipt. Also send a letter to your new bank stating that Wells Fargo and ADT are NOT allowed to enter ANY of the accounts there. Then give your lawyer copies of both letters so he/she is aware of what's going on. Hopefully this will do the trick.

Watch all the accounts, and if after WF and ADT receives the letter this continues, then what they are doing is illegal. See if your lawyer will send them a firmly worded letter on legal letterhead threatening legal action if the withdrawals continue.

[kornellred]

The same thing happens with most other large banks. If you have enrolled in an auto-pay situation and do not have the funds on deposit to cover the amount, the bank will pay it even though you may not have overdraft privileges. Canceling the auto-pay is a dead giveaway that a bank customer's financial situation has changed, probably not for the better.
FakeName - I made the same assumption as you and did exactly the same thing with Bank of America - I figured that no money in the account meant no payment to the credit card - I did not have an account with overdraft privileges. I had moved my account to a bank where I had never done business before prior to the fireworks, so that Bank of America could not black list me. Timing proved to be critical in my case.

This probably happens a lot.

[tatt2monster]

This is why I said thanks but no thanks anytime somebody wants to put me on an autopay program. Even my attorney wanted to set something up for my CH7....uh uh....not my idea of being in control of my finances.

[FakeName]

I am really feeling all the Wells Fargo love here...

Truly, I've been loving ING since we signed up about a month and a half ago. The only reason I'm even planning to keep my WF account after this is all over is to have a place to cash a check from time to time. Oh, and in case I actually need to write a check (ING doesn't do paper checks in the traditional sense). Truth be told, I'd MUCH rather pull all of my money out of WF and support a local bank with our little "incidental" account.

[jonathanroy]

With the interest rates so low lately (ING offers 1.40%...) you might just want to choose a local bank where the people are really nice with you.

[momisery]

I hate Wells Fargo, and I wish there were a class action suit. We used a realtor in GA to buy a home and we were new to the area. I was working as a receptionist at the time for a mortgage broker. My broker offered to do the loan and they started it with one lender and then flipped it to Wells Fargo. Wells Fargo has a list of "approved" appraisers that you have to use. So, my Operations Manager tells me his brother in law is on the list with Wells so we hire him to do the appraisal. Then because we knew no one we asked our realtor about an inspector, and they recomended one. All set, right? Yeah right. The house passed inspection and the seller bought a one year termite bond. We picked the bond up the next couple of years because GA has a lot of them. Anyhow, in 1.5 years we have a guy at our door with a butcher knife and we are calling the police. We have a guy at the door another week complaining that someone turned someone in. We have a truck load of illegals drive buy yelling at me. Hubby works long hours and he is getting worried about me being there alone, and I am scared. So we think about selling the house an moving across town. We hired several realtors and everyone of them told us, we paid too much. But the place appraised for 15,000.00 more than we paid for it? Anyhow, we finally get an offer, and they want the sun and the moon of course. They send out an inspector and a termite company. The inspector says the place is falling down, in 1.5 years ??? right... and the termite people say we have termites and black mold.. ahhh.. okay. So, I call our temite bond company and they say "no you don't"... then I call the old inspector taht we used and he says the new inspector is crazy... of course the buyer walks. Anyhow, we drop the price and we have to move now to MO.... and it was not soon enough as we were scare to death. The appraisal said "stable and increasing in value" and it did not list the foreclosures in the area due to rentals to people with too many families living in the homes. What a mess.. So, we decided half the way thru the year that paying 300.00 per month over the rent is not cutting it as we are depleting our savings. the company we hired to baby sit the property is also part of a "contractor company" and we are being nickeled and dimed to death with repairs. So, we ask Wells Fargo for a short sale and are told that they can't do the paperwork until you have a buyer. Okay, fine we get an offer, and we fax in the paperwork. They lose it three times! Finally they have it but then they lose the realtors paperwork several times too. The buyers walk of course and now our tennats have moved. If Wells Fargo would do their job on the short sale we may not be in this mess. Or, if they were more careful about their appraisers we would not be in this mess. At the time of the closing they did not like the value either and requested a desk review. Apparently their system was down, and the operations manager called them and begged a favor from the account manager for our firm to waive the desk review. Perhaps Wells Fargo would have turned it down if they ran a desk review and saw all the foreclosures? Who knows.. but I hate them.. I have had perfect credit all my life, never late, never a bounced chekc.. and I am 60. One dealing with Wells Fargo and bang your dead.