Consumer complaint received 2023-08-24
Company: WELLS FARGO & COMPANY
State: TX
Product: Checking or savings account
Sub-product: Checking account
Issue: Problem caused by your funds being low
Sub-issue: Overdrafts and overdraft fees

Complaint:
Complaint : Regardless of the amount of times Wells Fargo is fined and sued, they continue to deceive their account holders without even attempting to hide it. During this year, I have paid more than {$300.00} in erroneous overdraft fees that are charged to my account the next day, during the grace period that they continuously and falsely advertise. In the evidence that I am submitting, you can clearly see various examples of this, i.e. account is overdrawn on Day XXXX, the account balance is then made positive via deposit on Day XXXX, but on Day XXXX, an overdraft fee appears to have been posted on Day XXXX. I have gone to my local Wells Fargo a couple of times where the Manager lectured me on how to understand the way they structured their transactions to make it beneficial for them. The reality is that the manager told me that the Wells Fargo app was only for educational purposes, basically stating that you shouldnt believe what you see because it could not be true and that since this was a reoccurrence in my account it must be my fault. With her attitude, she essentially told me that if I werent poor and stored my money with Wells Fargo more often, I wouldnt have these issues. The worst part of everything is that even when Wells Fargo sees that they are in the wrong, they will tell you We are so sorry but since this is not the first Overdraft Fee we can't waive it despite the fact that the times they have only waived it when they recognize that they are at fault. Wells Fargo will never lose the argument ; they will tell you that X transaction was mysteriously started before I ( the customer ) could even see it, and that's the reason I accrued Overdraft Fees. Basically, if a bill is paid on the XXXX of each month and appears on my account on the XXXX WF will charge an overdraft fee if I dont pay it on the XXXX, despite that date being within their imaginary grace period because the transaction started on the XXXX, despite the fact that it was not reflected on my educational app on the XXXX. Wells Fargo offers bill pay services and autopay services but expects its customers to remember the exact day that the transaction is initiated. Wells Fargo hides information from its customers and they will always argue to favor them, leaving the customer with nothing to do. Wells Fargo is stealing from its customers and if you are a minority, you will be treated as if the only money you have is whatever they see in your account. I pay $ 10 monthly to Wells Fargo so I can store my money at their place and I expect Wells Fargo to honor their services and promises. The purpose of my complaint is to show that the billion-dollar settlements that Wells Fargo has recently incurred apparently do not surmount the amount of money that they steal from their account holders while being monitored by the Federal Government . I hope that my complaint is thoroughly reviewed and I do not become another of the millions of customers encountering this same situation.

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