We have a small business and I mean small. So we got a small business checking account. I make deposits usually everyday in the amounts of $150.00 to $2000.00 dollars, depending on how many checks I've recieved from our customers in the mail.
I try very hard to make sure my deposits are in before 4pm so they will get posted that night even though the funds are not available til the next day.
There have been a few times when I couldn't get in until 5 or 5:30pm. They take my deposit it shows online that it's pending... It shows the checks I have written posting which overdraws the account, but it shows the checks I have written clearing, all the way up to about 11AM the next day. BUT then they return the checks charge me the overdraft and NSF fees.
Then that night they post the deposit and deduct their overdraft and NFS fees.
I did this a couple of times when I first opened the account and they paid the checks and I was more then willing to pay the overdraft fee if they would just PAY THE CHECKS which they did before.
Then they stopped doing that and started charging me the overdraft and the NFS fees and RETURNING THE CHECKS.
So I make a deposit of say $1000.00. The 6 checks total say $850.00. They clear my checks for 850.00 but don't post the deposit til the next business day. Then they return the checks charge me 6 x 33.00 for overdraft and 6 x 31.00 for NSF fees... Thats $384.00 dollars that they then deduct from my $1000.00 deposit leaving me $616.00 to cover $850.00 dollars in checks when and if they go through again.
So now I need to put more money in to be sure that the checks are covered when they go through again.
I asked the Assitant Mgr. Why they covered the checks before and now they're pulling this crap... She told me that when we opened our account they pay the overdrafts for a while as a courtesey and then after a while they stop doing it.
I told her that I'm in everyday with a deposit and if they did that as a coutesy when I first opened the account why couldn't they just continue the courtesy.
She said that I just need to make sure my deposit are in on time and enough to cover any outstanding checks.
WELL no kidding. But if they can extend that courtesy at the begining and you've had the account for a while why couldn't they just continue that courtesy.
Don't tell me about overdraft protection because I can't get it... Yes I'm one of those people who does not have excellent credit... But I'm trying to impove it.
So Basically, Wells Fargo can do whatever they want and take your money and justify it by saying it's for their fees because I wasn't in on time with my deposits.
Even though they provided me with the service when I first opened the account and now they don't feel like doing it anymore and so they will return my checks and collect their fees and steal my hard earned money to make them more money.
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