Consumer complaint received 2022-02-12
Company: WELLS FARGO & COMPANY
State: WA
Product: Checking or savings account
Sub-product: Checking account
Issue: Problem caused by your funds being low
Sub-issue: Overdrafts and overdraft fees

Complaint:
Starting in early XXXX, Wells Fargo started hitting me with overdraft fees for purchases I had money for. 

On XX/XX/XXXX I had a XXXX purchase for {$14.00} at the end of the day I had {$37.00} left. 

On XX/XX/XXXX I had received a {$35.00} overdraft fee for that charge. 

On XX/XX/XXXX I made I purchased groceries for {$34.00} at the end of the day I had {$38.00} left. 

On XX/XX/XXXX I was hit with a {$35.00} overdraft fee for that charge. 

I called about the charges and was told a few things. For one that apparently because a day or two later since I had overdrafted on something else entirely, that is why they charged me for my past purchases. ( Which I had money for ) Which made no sense. It was only after going through my account on the phone and proving to them I had money for those transactions was it admitted that it was a mistake. 

I was then told I would only receive a partial reversal which i was told was due to my customer standing I have no credit cards or loans, nor have I ever. 
Ive simply been a divorced woman between jobs trying to survive. 

I received a {$17.00} reversal for my XXXX XXXX. Then I received a {$17.00} reversal on the XXXX for my grocery purchase overdraft. 

I also had been asked about opting out of overdraft protection which all was a bit confusing on the phone but I distinctly remembered stating that Id rather my card be declined than for me to go negative and get an overdraft. 

But then ; On XX/XX/XXXX I had made a XXXX purchase for {$31.00} and XXXX XXXX purchases of {$8.00} and {$14.00} came out of my account. At the end of the day I had {$39.00} left. I was then hit with XXXX {$35.00} overdraft fees for all three of those purchases. 

This led me to be XXXX in my account. It was then a XXXX XXXX came out, usually I would put money in to cover my negative account but because of all these overdrafts for things I did have money for I did not. One more purchase of {$7.00} came out and I received a {$35.00} fee for that on the XXXX. ( Which I could understand due to having already been negative, yet partially because of Wells Fargo. ) It was XX/XX/XXXX where I had turned my card off on the app so I didnt receive anymore charges. Yet again on XXXX a charge came through for {$10.00} It has been very difficult and stressful being charged for things I did have money for but to also be in a position that because of these overdrafts that it makes it more difficult to keep track and quite truthfully, fearful to make purchases at all. 

This has caused me to borrow money from family and even my ex husband to try and keep my head out of hot water to put into the account while Wells Fargo callously attempts to drown me further into debt and despair. Now Im in a position of where id have to use a large chunk of my first paycheck at my new job and continue to struggle paying my bills or feeding myself. 

After scouring wells Fargos social media I can see others complaining of similar situations such as mine. Even though I do not know the personal business of strangers and their financial situations. It is heartbreaking seeing a large bank like Wells Fargo prey upon those who are already struggling especially during a pandemic. That Wells Fargo uses overdraft charges to attack those who are already struggling and considering them to have a lower standing because of it. 

I called about this in XXXX which is when I got the partial reversals, I have not called for the new overdraft charges due to the fact that I will not be fully reimbursed for their mistake. That was made apparent the first time. 

I feel not only does Wells Fargo owe me an apology and owe me financially for this situation. But I especially feel that they owe all their affected customers reimbursement for their unfair overdraft charges. No one should have to feel the hurt and helplessness of being taken advantage of by a large financial institution. To see themselves gets money stolen off of them, that for many people that money that is stolen off of them is a difference between being able to eat or not or have their lights on. 

It also comes in a time shortly after Wells Fargo came forward saying they were going to eventually stop overdraft fees this year. It is not okay that Wells Fargo is ( what feels like ) swooping in to take what they can before that goes into affect.

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 monetary relief