Wells Fargo Bank
Overdraft fees charged by transaction entry date rather than actual debit date

I have encountered an unsettling practice that Wells Fargo endorses. That is, they charge overdraft fees based on the date that transactions enter their system, not when the funds are actually disbursed and debited from my account. That does not seem legitimate, particularly because financial institutions should not be charging fees for instances where there has been absolutely no financial loss on their part. Especially when the fees that they charge cause further overdrafts.

This has happened to me several times now, and I have finally grown sick of it enough to close my account.

Of course, this lates round of fees has caused further overdraft due to Wells Fargo's "no warning, insta-post" fee system. Needless to say, I will not be paying the latest round of fees nor any fees that result from this round.

Company: Wells Fargo Bank
Country: USA
Site: wellsfargo.com

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