July 2
To: Chris Hayes, Channel 5 TV Investigative News Team, Phoenix, AZ,
Bob Nelson, Phoenix New Times
Lindy Bentley, Sonoran News
Brian Wells, East Valley Tribune
Richard Ruelas, Arizona Republic
You all know me and have known me long enough to know what kind of a person by the stories we have worked on in the past together and you know I am and not to be taken lightly. I am writing this letter to you as a follow up to our recent conversation regarding the recent situation we have just experienced by banking with Wells Fargo. We write this letter to you so that you can inform your viewers of the Wells Fargo policies and obvious dubious tactic's with regard to the way they treat their customers and conduct business.
We have a checking account with Wells Fargo. We wrote a $310.00 check which we mistakenly did not put in our account ledger. When this check was presented to Wells Fargo Bank we had money in the account but not enough to cover the amount of $310.00.
Wells Fargo says as a "Courtesy To Us" paid this check and charged us $33.00 for this courtesy. This is where it gets really good. Because of their courtesy, this caused our account to go into an overdrawn status. Now with the coming debits from using our ATM card on this same day not knowing this happened, everyone one of these purchases further caused our account to be overdrawn. Now mind you, the debits that followed were in the amounts of $24.95, $23.87, $17.41, $7.75, $7.00 which were also all paid "as a Courtesy To Us" even though these charges should have been declined at the time of purchase considering we were over drawn at this point. All of which would have cleared our account if they had not paid the $310.00 check and returned it NSF as any other bank would have done in the first place. But because of this and their "Courtesy to Us", we were charged $33.00 each time a debit went through for an additional total of $165.00 in service fee's. This same day we deposited $280.00 into our account not knowing this was going on. Needless to say all of this deposit was swallowed up by the service fee's pending. Total service charges for 7/1, $198.00
The next day, my wife's automatic deposits were made into our account for the amounts of $681.46 and $694.26. However, because over night our account was still showing overdrawn, the following debits to our account in the amounts of $18.75, $12.00, $8.09, $7.75, $6.07, $1.00 and $7.65 also posted. To Wells Fargo's advantage, they conveniently posted the debits before the deposits allowing them to charge us their $33.00 overdraft fee 5 more times for a total of another $165.00. You can see this because the overdraft charges are after the deposits. This is a grand total of $396.00 in over draft fee's within a 24 hour period originating for the $310.00 check that should have never been cashed in the first place.
Needless to say, we feel very violated and just plain ripped off. We have discussed this with Wells Fargo and have been told this is bank policy. However as a "Valued Customer", they credited us back 2 of the service charges for a total of $66.00. So the bottom line is, because of their "Courtesy to Us", we got serviced charged to death in the amount of $333.00 within this 24 hour period.
What really makes me angry is the fact that they tell us this was all done as "Courtesy to Us, Their Customer" and then think we are stupid to actually believe this. What a joke. Who are they kidding, their courtesy to us is nothing more than a smokescreen for ripping us off without any thought at all..
Again, this all starts with the $310.00 check and the mistake of not entering it into our check book register. No one asked them to pay this check but they did so they could obviously gouge the hell out of us for our hard earned money for the transactions they knew were pending behind it. This may be within their polices as far as they are concerned, but their "Courtesy to Us" was obviously nothing more than a way to take as much money as they could from us called overdraft fee's without conscience, ethic's or compassion.
We got screwed by Wells Fargo, with your help by alerting your readers and viewers, no one else will.
I have downloaded the online status on a daily basis for the last 4 days and can show you how and what Wells Fargo did in the name of "A Courtesy to Our Valued Customer" and will attach them to this letter.
Now I now what Wells Fargo means when they say Valued Customer, $333.00 worth of value.
Sincerely,
James & Elaine *
Account # *
Wells Fargo Bank
Balance Detail
Personal Checking 071-9522xxx
Amount
Ending balance as of last business day (07/01/04) $-81.40
Available balance (what's this?)
$529.32
View Online Statements
Add Bill Pay
Request Direct Deposit Advance
Request Copies or Reorder Checks online.
Click on column heading to sort
Account History - All History (1 of 2)
Date
Description
Amount
07/02/04 overdraft fee $33.00
07/02/04 overdraft fee $33.00
07/02/04 overdraft fee $33.00
07/02/04 overdraft fee $33.00
07/02/04 overdraft fee $33.00
07/02/04 overdraft fee reversal $33.00
07/02/04 overdraft fee reversal $33.00
07/02/04 atm/pos activity $16.13
(pending)
07/02/04 atm/pos activity $25.22
(pending)
07/02/04 dd advance payment memo $500.00
(pending)
07/02/04 dd advance finance charge memo $50.00
(pending)
07/02/04 starways, inc payroll 1363 $681.46
(pending)
07/02/04 starways, inc payroll 1363 $694.26
(pending)
07/02/04 atm/pos activity $7.65
(pending)
07/02/04 checkcard activity $1.00
(pending)
07/01/04 pos purchase - bashas' #102 411022 peoria az 0253 $6.07
07/01/04 check crd purchase 06/30 hana smoke shop peoria az 432372xxxxxx2705 183404106697402? Mcc=5993 122105278da $7.75
07/01/04 pos purchase - 76/circle k #5576/circle peoria az 0253 $8.09
07/01/04 check crd purchase 06/29 exxonmobil59 07600091 goodyear az 432372xxxxxx0253 183404102797716? Mcc=5542 122105278da $12.00
07/01/04 check crd purchase 06/30 circle k 05544 peoria az 432372xxxxxx2705 183404104787896? Mcc=5542 122105278da $18.75
07/01/04 overdraft fee $33.00
07/01/04 atm deposit - arrowhead mall glendale az 0253 $280.00
07/01/04 overdraft fee $33.00
07/01/04 overdraft fee $33.00
07/01/04 overdraft fee $33.00
07/01/04 overdraft fee $33.00
07/01/04 overdraft fee $33.00
07/01/04 overdraft fee $33.00
06/30/04 pos purchase - 76/circle k #1076/circle peoria az 2705 $7.00
06/30/04 pos purchase - 76/circle k #5576/circle phoenix az 2705 $7.65
06/30/04 check # 2410 $17.41
06/30/04 check crd purchase 06/29 www*earthlink.net 800-719-4660 ga 432372xxxxxx0253 182404102315194? Mcc=4816 122105278da $21.95
06/30/04 pos purchase - 9245 union hillfrys food peoria az 2705 $23.87
06/30/04 pos purchase - wal-mart #3241 0063042432glendale (nw) az 2705 $24.95
06/30/04 check crd purchase 06/29 qwestcomm*tn623 800-244-1111 co 432372xxxxxx0253 182404102312403? Mcc=4814 122105278da $40.30
06/30/04 check # 2409 $310.00
06/30/04 deposit $150.00
July 3: Update:
I have talked to 15 other people today that have the same story to tell about banking with Wells Fargo, and the list just keeps growing. I am compiling a list of their names and contacts numbers. They have all agreed to talk to any of you about the treatment they have received from Wells Fargo bank as I have. I am going to continue to talk to people about this and gather more names and numbers.
Seems Wells Fargo is into ripping off most of their customers every chance they get with these every same tactic's. Everybody that I have talked to so far has changed banks for these very reasons.
July 3: Replies: (So far)
He, Coz!
I've never heard of a bank withdrawing debits before credits. But I can see they have charged you several over drafts after the pending deposits. I especially like the $33.00 charge for the $1.00 debit. That's total bullshit! We should do the story on it, get me the names and numbers of the others that have experienced the same problems with Wells Fargo. Great title line for the story, "As A Courtesy To You, Our Valued Customer".
Jim,
It's not the first time I have heard this go on with Wells Fargo. If you want to send me over the names of the others, I will make some calls to them. It will have more impact if we can list several people that have gone through what you just went through with Wells Fargo Bank. I have my own horror story about banking with Wells Fargo. It could have some value as to warn others about banking Wells Fargo and what to expect. On a side note, I changed banks long ago and got as far away from Wells Fargo as possible. I suggest you do the same. Talk to you soon. You & Elaine have a great 4th! Talk to you more on Tuesday about this.
Jim,
OH MY GOD!!!
Kris
Coz, Let talk more about his when I get back into the office on Wednesday. This is unbelievable. John.
July 3: Update:
Now this is funny, because I have complained to Wells Fargo and threaten to go to the media, they have changed the way things have been processed on my account online. This is what they did.
It's too late to change how the account looked. I have already download and saved the account information before you changed it. But thank you, it once again shows how deceptive Wells Fargo is. I will be sure to pass on this information as well to my media contacts. Thank you for helping me to dig your hole deeper and prove what I am telling them.
Today online:
07/06/04 atm/pos activity $20.00
(pending)
07/06/04 atm/pos activity $40.22
(pending)
07/06/04 atm/pos activity $35.56
(pending)
07/06/04 atm/pos activity $52.42
(pending)
07/02/04 pos purchase - 76/circle k #5576/circle phoenix az 2705 $7.65
07/02/04 pos purchase - 3502 w greenwaybirdworld phoenix az 0253 $16.13
07/02/04 pos purchase - nnt arizona ret3032099429phoenix az 0253 $25.22
07/02/04 payment for direct deposit advance on 06/19 $500.00
07/02/04 *finance charge*payment for dd adv on 06/19 $50.00
07/02/04 starways, inc payroll 13639200000025x cozzolino, elaine $681.46
07/02/04 starways, inc payroll 13639200000062x cozzolino, elaine $694.26
07/02/04 overdraft fee $33.00
07/02/04 overdraft fee $33.00
07/02/04 overdraft fee $33.00
07/02/04 overdraft fee $33.00
07/02/04 overdraft fee $33.00
07/02/04 overdraft
Yesterday online:
07/02/04 overdraft fee $33.00
07/02/04 overdraft fee $33.00
07/02/04 overdraft fee $33.00
07/02/04 overdraft fee $33.00
07/02/04 overdraft fee $33.00
07/02/04 overdraft fee reversal $33.00
07/02/04 overdraft fee reversal $33.00
07/02/04 atm/pos activity $16.13
(pending)
07/02/04 atm/pos activity $25.22
(pending)
07/02/04 dd advance payment memo $500.00
(pending)
07/02/04 dd advance finance charge memo $50.00
(pending)
07/02/04 starways, inc payroll 1363 $681.46
(pending)
07/02/04 starways, inc payroll 1363 $694.26
(pending)
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