On 5/6/05 we discovered that 6 individual charges for $33 each were withdrawn from my husbands paycheck directly deposited the night before! They were fees incurred because we SUPPOSEDLY went over on our account.
But upon closer inspection we of course DID NOT! They decided to charge the LARGEST amount FIRST even though it was made on the 5th and all of the others made before that date (the 3rd and 4th) would have been covered. This was an obviously calculated move designed to ensure the account be overdrawn and that all charges after that although made days prior would incur fees. According to their own mouths my husbands check and any debits made all process beginning at midnight the following day.
So basically ANY deposits or charges would process simultaneously. There is no way by their own admission to be sure what processed first. Common sense would dictate that the credit be processed first, then all charges in order of purchase right? But instead Wells Fargo found the LARGEST charge regardless of date and processed it FIRST. Overdrawing the account and THEN charged fees for all the other charges even though they would have been covered when they were made. Only THEN did they acknowledge the credit!
I have maintained this account for over 8 years and have dealt with Well Fargo's inept but up until this point manageable shortcomings but this is it folks. The devious and undoubtledly illegal manner in which they'll do anything for a buck gives me more than enough reason for pause.
My mindset has always been "if it all processes at the same time it will balance itself out at midnight". But Wells Fargo has devised a devious although seriously flawed plan to get their hands on my hard earned money. Let's see how they explain it to the BBB, the Attorney Generals Office, The Office of the Controller of the Currency and now to the thousands of prying eyes at RIP OFF REPORT dot Com!
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