Consumer complaint received 2023-09-18
Company: WELLS FARGO & COMPANY
State: NC
Product: Checking or savings account
Sub-product: Checking account
Issue: Problem with a lender or other company charging your account
Sub-issue: Money was taken from your account on the wrong day or for the wrong amount

Complaint:
To : Whom it may concern ; From : XXXX XXXX XXXX XXXX XXXX XXXX, NC XXXX ( XXXX ) XXXX XX/XX/2023 On this date I deposited {$46.00} from XXXX to my bank account with Wells Fargo. This transfer occurred at exactly XXXX ( screenshot available ). I logged into my Wells Fargo account at XXXXXXXX XXXX ( one minute later ) I was showing an available balance of {$46.00}. ( screenshot available ) ( screenshot was made at XXXX ). I use XXXX and those transactions usually post to my Wells Fargo account after XXXX XXXX. Within the past two weeks. Wells Fargo has developed a habit of taking money from my account to pay for XXXX XXXX purchases before they post to my account. At XXXXXXXX XXXX Wells Fargo account showed ( per screenshot ) that I had {$46.00} available. There were no XXXX XXXX transactions posted at that time. Had there been XXXX XXXX purchases posted to my account, my account would have been in the negative and not showing an available balance of {$46.00}. So as always I XXXX my first transaction of the day into another account to use for gas and lunch for the day and I always pay my XXXX XXXX transactions ( after they post ) within 24 hours of posting. My account history will prove this to be true. 
Ive been with Wells Fargo for more than a year and for months Ive transferred earnings in the morning to move into another account via XXXX and then after XXXX post the XXXX XXXX transactions I pay them within the 24 hour grace period that is supposed to be afforded to all customers. On this date Wells Fargo intercepted my money and took my money that I transferred into the account before they posted XXXX XXXX. Again, my account was not in the negative but at the exact same time they took my money to pay for XXXX XXXX transactions that were not even posted yet. Please note I am not or will not deny my XXXX XXXX transactions. But I cant control when Wells Fargo post them to my account. ( per screenshots ) On XX/XX/2023 the day before this date. Wells Fargo notified me at XXXXXXXX XXXX  that my account had a balance of XXXX. ( If they can notify me at XXXX this in fact shows they could have notified me of the XXXX XXXX prior to XXXX XXXX on this date. ) On XX/XX/2023 on this date and ONLY AFTER I made a phone call to complain about this issue. 
Wells Fargo texted me at XXXX XXXX that my account at XXXX had a balance of {$14.00}. This is exactly one minute after XXXX transferred {$46.00} into my account. ( ONE MINUTE ) Wells Fargo took {$32.00} from my account prior to posting any debt from XXXX XXXX. ( screenshots available ) Between XXXX/XXXX/2023 at XXXX XX/XX/2023 at XXXX there is not one single transaction or debt posted to my account. 

Wells Fargo Grace Period policy : With Extra Day Grace Period you have an extra business day ( not weekend day ) to make deposits to avoid overdraft fees. If your available balance covers the prior business days overdraft items as of midnight Eastern time, well waive the associated overdraft fees. this is Wells Fargos policy So Monday is a business day which means the XXXX XXXX should have posted negatively on Monday allowing me the business day to pay it and avoid overdraft fees. 

{ Separate : I want to also note that last week they charged me an overdraft fee on my account in less than 24 hours of a debt being posted- I brought this to their attention and the overdraft fee was waived but not until Wells Fargo banker insisted that I was to blame. I dont work for Wells Fargo I cant control when they post things to my account and I cant take the blame for when they decide to post transactions to my account. } Wells Fargo is not giving me the same grace period as they are affording every other customer, they are intercepting my transfer from XXXX before they even post the debt to my account and give me the 24 hour grace period. This is not fair and I dont feel that its a legal practice seeing that it ultimately is a discriminatory and unethical practice of taking ones money in advance of posting debt. Would it be fair if my energy company came into my account and took {$100.00} for a bill that doesnt even exist yet. No, that would be illegal. So what Wells Fargo is doing is no different. They have no right to intercept my deposit to cover debt that they have not posted. They have no right to intercept my deposit to cover a debt or balance that has been in negative for less than 24 hours on a business day. This is according to their own policy. 

When I called Wells Fargo at XXXX on this date to make a complaint about what I just explained above. The banker denied any wrongdoing and refused to give me back my money and post the XXXX XXXX as they should have done in the first place. The banker denied that he could see the activity I was referring to but had no problem posting it after the call ended. This phone call was recorded according to XXXX. 
I am attaching screen shots of everything regarding this matter with the exception of my account history but am willing to provide that in a more secure setting if needed. 

Timeline XXXX XXXX, 2023 XXXX Transferred money from XXXX to my Wells Fargo account XXXXXXXX XXXX  logged into my XXXX account to send money from my account to XXXX XXXX Available balance {$46.00} ) XXXXXXXX XXXX attempted to send money through XXXX and it failed stating I did not have Enough funds in my account to make the transaction. 
XXXXXXXX XXXX Wells Fargo took {$32.00} from my account ( without justification ) no XXXX XXXX posted XXXXXXXX XXXX Wells Fargo shows my account has a balance of {$14.00} XXXX XXXX I called Wells Fargo XXXX Wells Fargo sent me the only notification for the day that my account had a balance of {$14.00} as of XXXXXXXX XXXX ( no notifications that my account is overdrawn- no XXXX XXXX posted ) Wells Fargo can not legally justify taking {$32.00} from my account because they have not shown on my account at the time they took the money WHY they were taking it. At this point they could have been {$32.00} from my account to put in their pocket because they didnt give any post, notification, listing, balance update ( nothing ) prior to taking my money from my account. Is this not illegal?

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation