Consumer complaint received 2023-01-20
Company: WELLS FARGO & COMPANY
State: AK
Product: Checking or savings account
Sub-product: Checking account
Issue: Problem with a lender or other company charging your account
Sub-issue: Can't stop withdrawals from your account

Complaint:
There has been an ongoing issue with overdraft fees being taken out of my business account daily even if there is a positive balance for almost 2 years now. I have spoken with bankers on numerous occasions over this time frame, submitted feedback online through the Wells Fargo app and through the social media customer service on XXXX. I have even contacted the Wells Fargo Executive office and have been informed via email that they do not find any bank errors and will not refund any of these fees. My business account as of XX/XX/XXXX is now {$410.00}. in the negative due to these fees. The bank is accessing fees of {$70.00} to {$140.00} per day to my business account. Example from yesterday : Insufficient funds notice There was not enough money in your Wells Fargo account XXXX to cover the following transactions on XX/XX/XXXX. 
Transaction Description Amount Action Fee PURCHASE AUTHORIZED ON XX/XX/XXXX XXXX XXXX {$25.00} PAID {$35.00} Total Fee ( s ) : {$35.00} Wells Fargo case ID : XXXX Case specialist : XXXX XXXX. 
Sample of recent email : XXXX XXXX XXXX Tue, XX/XX/XXXX, XXXX XXXX  ( 3 days ago ) to XXXX More fees today and no indication of deposits being posted! 
PURCHASE AUTHORIZED ON XX/XX/XXXX XXXX {$25.00} PAID {$0.00} PURCHASE AUTHORIZED ON XX/XX/XXXX XXXX XXXX {$15.00} PAID {$35.00} PURCHASE AUTHORIZED ON XX/XX/XXXX XXXX XXXX {$28.00} PAID {$35.00} Total Fee ( s ) : {$70.00} Recent response from XXXX XXXX : Dear XXXX XXXX XXXX XXXX Thank you for your patience while we looked into your concerns. Weve completed our research and are ready to share our findings. 

Overdraft fees inquiry We apologize, but we are unable to waive any of the fees you were charged as there is no indication of bank error. After our review, we are able to confirm we paid all your transactions under our posting order practices disclosed in the Deposit Account Agreement. We recognize your concern and can assure you that we do not post your transactions in a manner that would intentionally cause you an increase in the amount of fees you are charged. Please understand the available balance does not reflect every transaction you have initiated or previously authorized, including any outstanding checks or recurring debit card transactions. 

A full copy of the Deposit Account Agreement is available at your local Wells Fargo branch or online at XXXX, input your zip code, and then select Deposit Account Agreement. 

Additionally, you have been previously advised about the Debit Card Overdraft Service. Its important to understand that this service is unique from other optional services that may be less costly for you, such as our optional Overdraft Protection plan. When youre enrolled in Debit Card Overdraft Service, the transaction may be authorized into overdraft at the Banks discretion, but an overdraft fee applies. If you cover the shortage by the posted cutoff time on the same business day as the transaction, no overdraft fee is assessed. 

Furthermore, on XX/XX/XXXX, a fee reversal for {$35.00} was credited to the account. Please be advised the account in currently overdrawn as of the date of this letter. Transactions have continued to post which creates additional fees on the account. 

While we realize this resolution may not be the one you were seeking, we hope this letter provides clarity about our position in this matter. 

How to contact us We appreciate your time and effort you took to contact us. If you have questions, please contact us at XXXX. Were ready to help you Monday through Friday from XXXX XXXX. to XXXX XXXX.Central Time. We accept telecommunications relay service calls. 

If you have a problem reading any attachment to this communication ( if applicable ), please reach out to me as indicated above for assistance. 

Sincerely, XXXX XXXX. 

Senior XXXX Representative XXXX XXXX XXXX XXXX I have used all of the tips that the bankers have given to me over time and am currently depositing money into my business account daily now. As of today I am not able to use my business account or debit card due to the negative balance on the account.

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