Yesterday I had to go to the grocery store to pick up some medicine. Due to a strip defect on the debit card for my personal account, I had to use the debit card for the shared account my mother and I have. I keep track of all purchases made with both my personal account and the shared account. I knew the account I had debited would probably be overdrawn by a dollar or two. So when I got home I went online and checked.indeed I had overdrawn by 25 cents, with the status of the grocery purchase stating "Processing". So I transferred money over from my personal account to the shared account, with no problem in the transfer being accepted. It posted immediately and stated "Processing" as well.
The next day, I find that I have been charged a $35.00 overdraft fee. Even though both the purchase and money transfer occurred on the 20th, and both had posted dates for the 21st, I was fined for the grocery store purchase on the 20th, while the money transfer was not credited to my account until the 21st!
Before Wachovia was eaten up by Wells Fargo, I could make a transfer between Wachovia accounts at 11:58pm eastern time and it would count for that day, not the next! I have past statements proving this! But now, due to Wells Fargo's greedy policies, an after hours transfer doesn't get attributed to your account until the next day, but an after hours purchase gets attributed to your account the same day, voila... instant fee. Though online it will state that both transactions occurred on the same day, and state that both transactions were posted the next!
I called Wachovia customer service (now Wells Fargo customer service) and complained about this (I started off very nice). I stated it is a double standard to count an after hours purchase on the same day, but not count an after hours online money transfer until the next! I should NOT have an overdraft charge!
The person on the other end connected me with a supervisor. I reiterated this to her, calmly at first. She told me that because the money transfer was after hours it did not count towards my balance until the next day.
I said, "But my purchase was also after hours."
"Yes but you made that purchase on that day".
I replied, "I also made that money transfer on that day!"
I get the circular reply, "But that transfer was after hours".
So I explained again that debiting an after hours transaction on the same day but not crediting an after hours online transfer until the next day is a double standard!
"No its not. We have different processing policies for purchases and transfers.".
My rebuttal, "So you actually have different rules for how purchases are treated and how transfers are treated?"
"Yes." [OMG! ]
"So you have this so you can extract unfair fees from your patrons!"
"No, that is not the case" [Yeah I'd like to see her give me the REAL reason why.]
I told her this wasn't always the case, and that before the Wells Fargo buy-out deposits always were credited to the balance that day, regardless of hour... Something which saved me from an overdraft charge on one other occasion, and a major reason why I was I was (until now) a loyal Wachovia customer.
She stated "This has always been the Wachovia policy".
I know better, and I have proof otherwise.
I let her know that if this was how they deceived customers I was walking (which I am), at which she offered me a $10 refund out the $35 fee. I told her not good enough. But that was all she provided before hanging up.
Too little too late.
I have had half a dozen people tell me personally, as soon as I told them my bank was being bought out by Wells Fargo, to find a new bank because Wells Fargo is crooked. So I can't say I'm surprised. I'm switching to either Emory Credit Union or CDC Credit Union. I'm eligible for both.
For anyone else with grievances against Wells Fargo, here's a website that can help you: http://www.hbsslaw.com/wfc
Teresa
ATLANTA, Georgia
U.S.A.
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