Consumer complaint received 2015-08-22
Company: WELLS FARGO & COMPANY
State: ND
Product: Bank account or service
Sub-product: Checking account
Issue: Problems caused by my funds being low

Complaint:
I paid my cell phone bill online using my debit card on XXXX XXXX, 2015. My available balance reflected this being paid, I budget very carefully these days. Fast forward a couple of weeks later, and my account balance is almost {$300.00} negative. This is from XXXX overdraft fees in the amount of {$35.00} assessed to my account, and other charges Wells Fargo is stating I over-drafted on. I did not knowingly overdraft my bank account. I called Wells Fargo 's customer service today, XXXX XXXX and spoke with a representative named XXXX. She stated that when I paid my bill to XXXX XXXX XXXX, I had an available balance of around {$420.00}. Apparently, when I paid that {$110.00} to XXXX XXXX XXXX and my balance reflected it being taken out, at some point the next day XXXX XXXX XXXX put the money back in to my bank account, but then took it out again a few days later. According to her this is part of the process with pre-authorizations and posting and such. I understand that certain companies charge debit cards that way, but my complaint stems from that " deposit '' that XXXX XXXX XXXX supposedly making back into my bank account not showing up anywhere in my statement, or online. My online account with Wells Fargo AND XXXX XXXX XXXX reflected that amount being paid. After I paid my bill I went on to pay for other expenses, believing myself to still be within my budget. According to XXXX with Wells Fargo, because of this magical 'deposit ' that XXXX XXXX XXXX supposedly made back into my bank account, I overspent by {$22.00} total because apparently the funds were made available to me again. There were several other charges that I was assessed overdraft fees for, and I still do not understand how. At no point in time when monitoring my online account, or anywhere in my bank statements does it reflect a deposit being made back into my account for that dollar amount. How was I supposed to know? When I was speaking with XXXX on the phone, she advised me that information regarding the way that pre-authorizations affect your available balance was not anywhere in the visa card holder agreement, or on their website. ( I checked the website myself after getting off the phone, and she was correct ) I feel that the information on this should have been made available to me at some point in time to avoid having to pay hundreds of dollars in overdraft fees. In not having that information readily available to its consumers, Wells Fargo is purposefully setting us up to possibly over-drafting our accounts in error and subsequently being charged at least XXXX {$35.00} fee, or in my case XXXX fees of that amount so they can profit off of not properly informing it 's customers. This is a deceitful business practice. Banking with Wells Fargo has been a complete nightmare. I know that everything I have typed here may sound a little confusing, I 'm a little flustered at the moment. Please reach out to me with any clarifying questions you may have. Thank you.

Company public response: Company chooses not to provide a public response
Company response to consumer: Closed with monetary relief