Consumer complaint received 2017-08-09
Company: WELLS FARGO & COMPANY
State: PA
Product: Checking or savings account
Sub-product: Checking account
Issue: Problem caused by your funds being low
Sub-issue: Overdrafts and overdraft fees

Complaint:
XXXX XXXX XXXX XXXX XXXX, PA XXXX XX/XX/XXXX Wells Fargo Headquarters XXXX XXXX XXXX XXXX, President and CEO XXXX XXXX XXXX XXXX XXXX, CA XXXX Dear XXXX XXXX, To say that I am upset is an understatement. I am livid. I am really really upset with Wells Fargo Bank and its shady banking practices. The only reason that my wife and I switched to Wells Fargo from XXXX XXXX XXXX was because it was closer to our home and now I regret switching. I have been duped, tricked and lied to by Wells Fargo Bank. I am sending this letter out to the president and all of the bank managers of Wells Fargo Bank in my area to let you know how upset I am with your bank and its unethical banking practices. Today, I was embarrassed when I went to the store and my card was denied for insufficient funds. This had to be a mistake. I check my account on my mobile phone each day to see transactions. The problem is that Wells Fargo uses a system that is designed to give you FALSE information regarding your transactions and balances. This is XXXX of several transaction examples. On XX/XX/XXXX, I paid my XXXX cell phone bill in the amount of {$620.00}. Instantly, XXXX notifies me that my transaction was successful. My XXXX account shows Paid in Full on XX/XX/XXXX. When I look at my Wells Fargo mobile app, it ALSO shows that {$620.00}, was taken from my account, leaving me X amount as a balance. Now, today XX/XX/XXXX, after my card was denied, a Wells Fargo Rep informs me that NO, the money did n't come out of your account on XX/XX/XXXX as XXXX AND Wells Fargo statements said it did. It along with several other transactions came out of my account ALL on the same day, XX/XX/XXXX. During this time, Wells Fargo 's mobile app has been giving me false balances. The result is that their system then is able to charge you a {$35.00} overdraft fee. This is OUTRAGEOUS!!! When I explained how deceiving this practice was, the representative was quick to credit the {$35.00}. The problem was that since I was given wrong balances showing higher balances, I was overdrawn by {$300.00}. No amount of I apologize for the inconvenience, did any good. That gesture did little to help me. I informed him that the Wells Fargo app can not be trusted as your system gives out misleading balances. And at the end of the conversation, the representative could n't even with a clear conscience say, Have I satisfied your concerns? or We value you as a loyal customer. I TRUSTED your bank and mobile app to tell me the truth. I was lied to by your bank executives who encouraged me to track my account with this app. They KNEW full well that the Wells Fargo banking system gives deceptive information. I am mortified that I put my trust in your bank. Your other customers need to be made aware of these practices. It is my hope that this exposure brings an end to this dishonest practice. Extremely Upset, XXXX XXXX XXXX XXXXXXXXXXXX XXXX CC : President and CEO of Wells Fargo Bank All Wells Fargo Bank XXXX in this area XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX and XXXX XXXX XXXX The Better Business Bureau File

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