Wells Fargo often waited until my checking account neared ZERO, then shuffled my account. If you aren't familiar with it, let's say you manually print out your bank statement online. There are "hard" posts and "soft" posts that haven't officially cleared.in my case, all of the transactions were "hard" posts, every time (and this happened multipel times). Wells Fargo uses FEE OPTIMIZATION SOFTWARE to maximize fees charged to customers and bulk up the bottom line, which disproportionately affects customers with lower balances, not people with many thousands of dollars or high incomes.
My account was manually entered by staff at the local branch, as I discovered by spending scores of hours questioning staff, per corporate instuctions, and back out hard charges on my account (I further obtained the hard post date and time stamps from each of the retailers from which I purchased and was able to get confirmation from their banks - not and easy feat, but Target and Starbucks were accomodating)... And then waited. I have three different printouts of my account on SUNDAY, a closed banking day, and each time my transactions were reshuffled, all HARD POSTS.
The following Monday, the previous times, I would make small purchases of $4.33 at Starbucks and end up with a $35 overdraft fee. How? A transaction from the week prior, a $300 payment, would a week later disappear and reappear.
I ended up with $838 in extended and overdraft fees. My actual amount of overdrafts would have been $50.12; however, had hard posts remained in order, my maximum fees would have been $175. Error or not, my issue is with the additional $663 resulting from shuffling the orders of the transactions to no represent the actual order in which they occurred and posted (HARD POSTED), but to reshuffle them in groups to prioritze the largest transaction first, to cause smaller amounts to cause overdrafts.
I don't know about you, but I ring my customers up in the order they make purchases, and stores scan items in the order they run across the conveyor belt. Why would a HARD post on Friday then be preceded by a SOFT POST of a coffee purchase on Monday? Why would my account change 3 times on a Sunday, online?
I printed all of it out. I can't afford to sue them, but boy, I wish I could. It's my tax money anyway.
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