Consumer complaint received 2016-09-09
Company: WELLS FARGO & COMPANY
State: GA
Product: Bank account or service
Sub-product: Other bank product/service
Issue: Problems caused by my funds being low

Complaint:
I am writing you to lodge a formal complaint against Wells Fargo about multiple overdraft fees from XXXX totaling over {$9000.00}. I am a dedicated online banker. 
Last week, my husband made a purchase on XXXX and the pay pal account was linked to my checking account unbeknownst to him. He alerted me that he made a purchase but was unsure what account it was linked. This alerted me to check my account and I was alarmed that it was overdraft by approximately {$650.00}, so I panicked and transferred from our savings account to ensure nothing else would overdraft causing more fees. I checked my account yesterday and was flabbergasted to see that I was negative approximately {$350.00}. So I did some further investigating on my account and noticed that I was getting an overdraft fee for small items as low as XXXX cents and in the month of XXXX alone I was charged about {$1000.00} in overdraft fees. At this point I called the Wells Fargo Customer Service line and spoke with a very kind representative and she said she could only refund me {$260.00} ( give or take. ) I told her that I completely understood her position but that it would not be wise for me to settle when that would still leave my account overdraft and vulnerable to more charges. She completely understood and then transferred me to another representative with more authority. Again, I was treated very professionally and with kindness. Unfortunately she said she would only be able to refund my account around {$650.00}. Please excuse the estimations as I am going by memory. I told her that was a better amount but that I felt that I had been taken advantage of by Wells Fargo and the new overdraft policies that she said I had opted in? I did further investigating on my account and am so sick right now looking at the fees charged so far this year. They total over {$3000.00}. This was money that could have been used to keep my mortgage current, my student loans current and my credit cards current, but now I am in such a hole that I ca n't see the light. 

I believe there was a lot of charges accrued due to the way Wells Fargo drafted items out of my account. And it appears that in XXXX there was a change in the overdraft policies. Between XXXX and XXXX fiscal years was charged an average of XXXX overdraft fees per year and between XXXX, I have been hit with XXXX overdraft fees which averages about XXXX overdraft fees yearly affecting my bank account negatively {$290.00} per month. During XXXX to XXXX, I ran a business and was completely focused on that and neglected overseeing my bank account as needed because mainly I trusted WF and could n't possibly fathom that this was taking place and I was being taken advantage of like this. 

My complaint is about this new policy that I was placed in without my knowledge and how it has negatively impacted my life financially and emotionally. I have been seeing a XXXX due to the XXXX this has caused. 

I would like my money back. 

Thank you for your time.

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