Sorry for the following vent, but enough is enough with wells fargo, one of the most unprofessional and useless banks.
I deposited my paycheck on Thursday morning. Their policy is, if deposited in the morning, the funds will be posted to your account that day. Well, the funds showed up in the "Ending balance" but not "available balance" initially. OK, fine I figure...no big rush in getting the money. Well, on Tuesday night, 10 pm, the funds finally showed up in my "available balance."
Their definition of available balance is: "The available balance includes pending credit and debit transactions not officially posted to your account. The available balance is the figure to rely on when determining the amount of funds available in your account. Pending items included in your available balance that are not reflected in your ending balance will post to your account at the close of the next business day."
So I figure the check is has finally cleared after 4 days (for some reason?), so it's good. And it's in MY available balance now, not just an "ending balance". I paid several bills that night and still had a substantial amount (but less than the paycheck). The next day, I checked my account to see I now have negative money, and have been charged fees. My account history (1 day later) says that, on Tuesday, the check was returned!?!?! So the check was posted to my available balance after the check was returned?! And, after 4 business days, my check had been on "hold" until they released it for a few hours...and as soon as I spend it, then took it back! I called up Wells Fargo so-called customer service only to get a very rude lady who insisted it was my problem, not theirs. I had to explain to her 15 times what was happening. She finally got it and said "oooooh, wow I don't know why that happened. That's weird." But right after, she said "But it's not our fault, you and the check writer are responsible."
Well, guess what I got in the mail...an official letter saying that they put my check on hold until the 27th. It says they're required to let me know when it's on hold, promptly. If I received the letter after I made some payments, I'm not responsible for any penalties. The nasty lady never even mentioned this...which goes to show they try to rip you off and take your money.
So I guess my next step is to talk to my company to find out what happened. Then, lay onto the Wells Fargo %@#&s. It's not really the fees that I care about...it's the fact that they want to take no responsibility and act like a bully because they have your money. I also have a brother who works there, so I'll see what he can do if I can't get any action.
Sorry for the vent...
I deposited my paycheck on Thursday morning. Their policy is, if deposited in the morning, the funds will be posted to your account that day. Well, the funds showed up in the "Ending balance" but not "available balance" initially. OK, fine I figure...no big rush in getting the money. Well, on Tuesday night, 10 pm, the funds finally showed up in my "available balance."
Their definition of available balance is: "The available balance includes pending credit and debit transactions not officially posted to your account. The available balance is the figure to rely on when determining the amount of funds available in your account. Pending items included in your available balance that are not reflected in your ending balance will post to your account at the close of the next business day."
So I figure the check is has finally cleared after 4 days (for some reason?), so it's good. And it's in MY available balance now, not just an "ending balance". I paid several bills that night and still had a substantial amount (but less than the paycheck). The next day, I checked my account to see I now have negative money, and have been charged fees. My account history (1 day later) says that, on Tuesday, the check was returned!?!?! So the check was posted to my available balance after the check was returned?! And, after 4 business days, my check had been on "hold" until they released it for a few hours...and as soon as I spend it, then took it back! I called up Wells Fargo so-called customer service only to get a very rude lady who insisted it was my problem, not theirs. I had to explain to her 15 times what was happening. She finally got it and said "oooooh, wow I don't know why that happened. That's weird." But right after, she said "But it's not our fault, you and the check writer are responsible."
Well, guess what I got in the mail...an official letter saying that they put my check on hold until the 27th. It says they're required to let me know when it's on hold, promptly. If I received the letter after I made some payments, I'm not responsible for any penalties. The nasty lady never even mentioned this...which goes to show they try to rip you off and take your money.
So I guess my next step is to talk to my company to find out what happened. Then, lay onto the Wells Fargo %@#&s. It's not really the fees that I care about...it's the fact that they want to take no responsibility and act like a bully because they have your money. I also have a brother who works there, so I'll see what he can do if I can't get any action.
Sorry for the vent...
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