We refinianced our 2nd mortage to get out from under Wells Fargo's high interest rate. Wells Fargo recieved the payoff (full amount of $40,647.64) on December 11 via a wire transfer from the new lender.
On December 18th after the loan was paid in "FULL" Wells Fargo proceeded to take the monthly payment out of our checking account causing a ripple effect of 10 bounced checks and $300 in bounced check fees. (I now a negative balance of $1000). Wells Fargo caught their mistake and cut check on December 20 and refunded the monthly payment. (At this point I'm still in the dark).
On December 27th I recieved in the mail all 10 returned check statements from my bank and the check from Wells Fargo. (That's when I find out something is really wrong). I called Wells Fargo and spoke with two different people - the first person hung up on me. The second (Nanthan) told me it was my fault that Wells Fargo took the money out because I didn't cancel the automatic withdrawal. (How was I suppose to know)?
As of today, (Dec. 28) I was transfered 4 times and hung up on by a supervisor who refused to let me talk to her boss. She also blamed my new lender for the screw up. All I want is Wells Fargo to admit they made a mistake, apoligize, ensure that the money won't come out in January (which they can't) and refund my money.
At this time Wells Fargo refuses to acknowledge that they have an internal problem posting checks and cancelling automatic payments once a loan is paid in full. Wells Fargo refuses to refund my money because according the the customer service reps I should have known to cancel the automatic withdrawal. They say it states in my original paperwork that once a loan is paid in full all automatic payments must be stopped by the borrower or the payments will continue. Does this mean if I don't stop next months payment that at the end of the month I'll get another refund check that states: refund for overpayment?
I also asked the rep for her to mail the appropriate form to me so I could stop future payments and she refused. Telling me I could get it off WF's website. I looked couldn't find it.
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